Irving incorporated a 100% owned subsidiary named Irving Resources Japan GK (“Irving Japan”) in May 2016, which enables the Company to hold mining and exploration projects in Japan.
Since 2016, Irving Japan has been acquiring prospective projects in Japan, all of which are 100% controlled by Irving Japan. The Company’s intention over the next several years is to advance its existing project pipeline and to acquire future projects.
Irving has a unique strategy to explore for and mine high-silica, high-grade epithermal gold and silver veins. Such ore has the potential to be suitable for use as smelter flux in the many operating base metal smelters throughout Japan. Recovery of precious metals occurs during the smelting and refining process. This strategy could conceivably create a very simple, low cost mine.
The Company has worked with Mitsui Mineral Development Engineering Co, Ltd (“MINDECO”) in filing mineral licenses and carrying out exploration programs.