The Company’s lead project is the Omu Project, located in the town of Omu, on Japan’s northern island of Hokkaido.
It is comprised of the 2.98 km2 Omui mining license and 55 prospecting license applications covering an additional 170.56 km2.
The Omu Project encompasses the entirety of the northeast-trending Omu volcanic graben, host to multiple high-grade epithermal gold and silver veins exploited at the historic Omui Mine and Hokuryu Mine prior to World War II.
In April 2019, Irving announced a US$6,000,000 private placement with a strategic investor, Newmont Goldcorp Corporation (“Newmont”), by issuing 3,715,630 common shares at $2.16 per share. The proceeds of the financing are for exploration on the Omu Project and the formation of an alliance between Irving, Irving GK and Newmont whereby the parties will work together to identify and, if designated by Newmont, jointly develop mineral exploration opportunities throughout Japan.
In 2019 Irving completed the phase 1 drill campaigns at the Omui Mine and Omu Sinter. Drill results have been encouraging with multiple high-grade vein intersections as noted in the Company’s press releases.
Irving is aiming to complete the following in 2020 on the Omu Project:
- phase 2 drilling at Omu Sinter;
- phase 2 drilling at Omui Mine;
- bulk sampling at Omui Mine;
- expanded soil sampling and geophysics at Hokuryu; and
- expedited grant of Hokuryu prospecting license and drill permitting.
For further information on the Omu Project, please review Irving’s public disclosure and the technical report entitled “Independent Technical Report On The Omu Property, Hokkaido, Japan by SRK Exploration Ltd.” dated November 6, 2018.