Irving Res Stock Price, News & Analysis

Irving Resources (IRVRF) has announced a non-brokered private placement to raise approximately $1.31 million through the issuance of units at $0.20 per unit. Each unit consists of one common share and one transferrable share purchase warrant. The warrants allow holders to purchase additional shares at $0.40 per share within a three-year period.

The proceeds will be used for resource exploration properties and general working capital. Company insiders are expected to participate in the placement. The securities will have a four-month statutory hold period under Canadian securities laws but no hold period under CSE policies.

Irving Resources reports significant drilling results from its Omui Mining License in Japan, with hole 24OMI-001 intercepting a 101.1m wide zone grading 1.14 g/t Au, 16.0 g/t Ag, and 84% silica. The shallow-angle drill hole reached only 35m below surface, suggesting potential for extensive near-surface gold-rich silicification. The company is working with earn-in partner JX Advanced Metals to develop the area as a precious metal-rich smelter flux production center. Additionally, at the East Yamagano JV project with Newmont and Sumitomo, Irving completed hole 24SY-002 (702.1m depth) with modest results and is currently drilling 25SY-001, targeting 800m depth. The company plans to drill at least six more holes at East Yamagano after mid-2025, pending approvals.

Irving Resources (IRVRF) has announced a change in its executive leadership, with Queenie Kuang succeeding Ronan Sabo-Walsh as Chief Financial Officer and Corporate Secretary. Kuang brings over 17 years of experience in investment banking, specializing in IPOs, reverse takeovers, M&A, and financial advisory services. She is a Chartered Professional Accountant with extensive experience in financial statement preparation and public company reporting, particularly for companies listed on the Canadian Securities Exchange and TSX Venture Exchange. Kuang holds a Bachelor's degree in Accounting and Finance from Simon Fraser University (2007).

Irving Resources (CSE:IRV)(OTCQX:IRVRF) announces key management changes at its Japanese subsidiary. Mr. Haruo Harada is retiring as director of Irving and president of Irving Resources Japan GK, transitioning to an advisory role. The company has appointed Mr. Takashi Yoshie as the new president of Irving Japan, effective March 1, 2025.

Mr. Yoshie brings over 40 years of experience as an economic geologist, having held senior positions at JX Nippon Mining (now JX Advanced Metals), including exploration geologist, Chief Geologist, Manager of Mines Division, and Deputy General Manager. His expertise includes exploring porphyry and epithermal deposits of copper, gold, and other metals in the circum-Pacific region. He joined Irving Japan as an advisor in November 2023 and was instrumental in completing an agreement with JX Advanced Metals in late 2024.

Irving Resources (IRVRF) has provided an update on its exploration activities at the Omu gold project in Hokkaido, Japan. Following an option agreement with JX Advanced Metals in November, the company completed a strategic diamond drill hole (24OMI-001) at the Omui historic mine site. The drill hole, positioned approximately 150m south of the Honpi vein, encountered extensive quartz veining and silicification from 35m to 101m depth.

The drilling aims to identify shallow, gold-bearing quartz veins and silicified ore that could be mined from the surface, potentially serving as silica flux for Japanese smelters. Irving and JX plan to drill three additional holes at Omui during 2025 to test for shallow veins and silicified ore. The company is currently conducting core logging, sawing, and sampling for assay of the completed drill hole.

Irving Resources (IRVRF) has provided an update on its East Yamagano JV project in Kyushu, Japan. The company completed its second diamond drill hole (24SY-001) at 702.5m depth in Q3 2024, located 950m east of historic Yamagano mine workings. While this hole encountered silicification and argilization with low-grade gold (highest 2.19 gpt Au over 0.6m), it didn't match the high-grade results of the first hole (23SY-001).

A third hole (24SY-002) is currently in progress at 300m depth, located 100m east of 23SY-001, with extensive quartz veins and vein breccias observed from 180m depth. The company plans to reach approximately 500m depth and drill at least two additional holes by mid-2025. The joint venture between Newmont (60%), Sumitomo (12.5%), and Irving (27.5%) is pursuing permits for six more potential drill holes.

Irving Resources has signed an Option Agreement with JX Advanced Metals , allowing JX Metals to earn up to a 75% interest in specific properties at Omu, Hokkaido, Japan. The agreement focuses on precious metal-bearing silica deposits at Omu Sinter Pit and Omuisenbu. To exercise the option, JX Metals must invest at least 300,000,000 yen (approximately C$2,850,000) in exploration and property-related expenditures over three years. Irving will serve as the operator under this agreement, which aligns with their vision to develop high-silica deposits suitable for use as smelter flux in Japan's base metal smelting industry.

Irving Resources Inc. has announced the formation of a joint venture with Newmont Overseas Exploration and Sumitomo for the Yamagano and Noto properties. The initial interests are Newmont 60%, Irving 27.5%, and Sumitomo 12.5%. Irving will initially manage the joint venture, with Newmont having the right to assume management at any time.

Dr. Quinton Hennigh, director and geologic advisor to Irving, highlighted the potential for discovering large epithermal gold deposits in Japan. The Yamagano mining district, consolidated by Irving with support from Newmont and Sumitomo, is close to Sumitomo Metal Mining's Hishikari gold mine, one of the largest high-grade epithermal vein deposits globally. Technical work suggests similar geological characteristics between Yamagano and Hishikari. Irving has already confirmed high-grade veins outside historic mining areas in its first drill hole and has completed a second diamond drill hole at East Yamagano, with plans for a third hole underway.

Irving Resources held its annual general meeting of shareholders on August 21, 2024, in Vancouver, British Columbia. The meeting resulted in two key outcomes:

1. Re-election of directors: All incumbent directors, including Akiko Levinson, Quinton Hennigh, Douglas Buchanan, Kevin Box, and Haruo Harada, were re-elected for the coming year.

2. Re-appointment of auditor: Davidson & Company LLP, the incumbent auditor, was re-appointed as Irving's auditor.

The company, trading under the symbols CSE:IRV and OTCQX:IRVRF, successfully completed its AGM, ensuring continuity in its leadership and financial oversight.