Irving Res Stock Price, News & Analysis

Irving Resources has secured gross proceeds of US$2.6 million (C$3.32 million) through a private placement with Sumitomo Corporation. The company issued 2,705,056 common shares at a price of C$1.23 each, subject to a hold period expiring on December 5, 2022. The raised funds will be allocated with 70% for exploration activities on Irving’s Omu project and 30% for an established exploration alliance with Sumitomo. Irving focuses on gold exploration in Japan and has a joint agreement with the Japan Oil, Gas and Metals National Corporation.

Irving Resources Inc. (CSE:IRV; OTCQX:IRVRF) announced the closing of a private placement with Newmont Corporation and a concurrent Unit Placement. Newmont invested US$4.4 million for 4,577,788 shares at C$1.23 each. Additionally, C$2,974,540 was raised from the issuance of 2,974,540 units, priced at C$1.00, each comprising a common share and half a warrant. Crescat Portfolio Management LLC also participated as a lead investor with a C$1 million investment, strengthening Irving's exploration efforts.

Irving Resources Inc. reported significant findings from diamond drilling at the Omui mine site in Hokkaido, Japan. The two holes drilled in winter 2022 showed high-grade veins with intercepts including 7.39 gpt Au and 10.07 gpt Ag over 8.58m. The company anticipates possible connections between mineralized systems and is excited about further exploration with a new drill rig recently acquired. Despite setbacks due to equipment issues and COVID-19, drilling will continue at the Hokuryu mine site, confirming the potential for expansion of vein systems.

Irving Resources Inc. (CSE:IRV; OTCQX: IRVRF) announces a strategic investment from Crescat Capital LLC of $1 million in a private placement. This investment involves 1 million Units, each comprising one Common Share and a half Common Share purchase warrant, exercisable at $1.60 for three years. Crescat will have future financing participation rights as long as it maintains over 1% of the outstanding shares. Irving focuses on gold exploration in Japan and collaborates with the Japan Oil, Gas and Metals National Corporation for resource discovery.

Irving Resources Inc. (CSE:IRV; OTCQX: IRVRF) announced an amendment to its investment agreement with Newmont Corporation. Newmont will require Irving to undertake a private placement worth up to US$4.4 million this year, with an additional potential US$6 million placement. The funds will support exploration on the Omu project in Japan. Concurrently, Irving plans to raise up to C$3 million through a non-brokered private placement, targeting mineral resource projects and general working capital.

Irving Resources has acquired two diamond drills to enhance its exploration initiatives in Japan. The first, a Zinex A5 drill, is set to arrive mid-July, while an LF90DT drill is expected in Q3 2022. This in-house drilling strategy, adopted due to pandemic-related travel issues, allows for simultaneous drilling at multiple targets, expediting exploration efforts. Key projects include Omu and Yamagano. Following a recent COVID outbreak, drilling operations have resumed, aiming for high-grade target follow-ups. The company emphasizes this initiative as pivotal for advancing its gold-silver portfolio.

Irving Resources Inc. (CSE:IRV; OTCQX:IRVRF) has announced significant findings from its diamond drill campaign at the Omu Au-Ag Vein Project in Hokkaido, Japan. The first drill hole, 21HKR-001, intercepted high-grade Au-Ag veins, with results including 3.12 gpt Au and 469 gpt Ag over 0.41m, and a deeper vein showing 14.05 gpt Au and 13.35 gpt Ag over 0.33m. Despite being halted at 294.7m due to snow, further drilling is planned to continue in May. The company aims to extend the drilling campaign, indicating strong potential for finding high-grade mineralization.

Irving Resources Inc. (CSE:IRV; OTCQX:IRVRF) has reported high-grade vein intercepts at the Omui Mine Site in Hokkaido, Japan, confirming a significant lower mineralized system. Notable findings include:

• 21OMI-001: 10.41gpt Au and 13.48gpt Ag over 3.80m
• 21OMI-002: 15.92gpt Au and 25.50gpt Ag over 3.95m

The weighted average grade is 7.61gpt Au and 11.07gpt Ag over 7.7m. A new drilling campaign has started with plans to explore deeper systems. The results suggest potential for substantial precious metal deposits.

Irving Resources Inc. (CSE:IRV; OTCQX: IRVRF) announced the granting of 1,745,000 incentive stock options to its directors, officers, employees, and consultants. These options have an exercise price of $1.09 per share and a term of three years, with one-third vesting every six months. The company focuses on gold exploration in Japan and has a Joint Exploration Agreement with Japan Oil, Gas and Metals National Corporation (JOGMEC), which aims to discover economic deposits of metals in Japan.