Vancouver-based Irving Resources Inc. (IRV:CSE; IRVRF:OTCQX) reported in a news release that its wholly owned subsidiary, Irving Resources Japan GK, "has applied for 99 prospecting licenses covering approximately 337.37 sq. km on the Noto Peninsula, Honshu, Japan."
The firm noted that the areas it is targeting have been found to contain anomalies showing the presence of strong stream sediment gold, silver, antimony, arsenic, copper and mercury. The company explained that the license applications have already been filed and accepted for consideration by the Ministry of Economy, Trade and Industry (METI) Chubu Bureau. The requests are now being reviewed by METI and if granted, will make Irving Resources the largest holder of prospecting licenses in the Noto Peninsula area.
The company advised that in the second half of 2020 it completed a series of surveys over a good portion of the Noto Peninsula, which it stated demonstrates strong similarities to nearby Sado Island, the site of the famous high-grade Sado Kinzan gold mine owned by Mitsubishi Corp. The firm noted that Sado Kinzan was mined continuously for 388 years after first being discovered in the year 1601 and since that time, the property's epithermal veins have produced a total of 2.51 million ounces of gold and 74 million ounces.
The company advised that after it completed a review of the stream sediment analyses it identified a significant number or gold and multi-element anomalies and elected to stake four separate blocks of prospecting licenses across the Noto Peninsula. Irving Resources then grouped the package of claims into what it has named the Northeast, East, Central and Southwest Noto areas.
The firm stated that that the Northeast Noto section consists of 16 prospecting license applications in an area that shows strong to moderate arsenic and antimony readings and is prospective for gold-silver mineralization. The second zone is the East Noto, which includes 11 prospecting license applications covering an area with moderate to strong silver and copper prospects as well as potential for high antimony and moderate gold levels.
The third group is the Central Noto area that encompasses 53 prospecting license applications that cover a large area of varied geological formations. The western areas display features suggesting moderate to strong gold mineralization across a 4 km diameter area. The firm noted that silver prospects are categorized as low to moderate except for one small section where high levels of silver are projected. Near the areas where highest gold mineralization appears, arsenic and antimony are both moderately to strongly anomalous. In addition, the property displays broadly located copper deposits and high readings for mercury in an area just to the east of the areas with the highest gold results.
The last of the four zones is the Southwest Noto area which contains 19 prospecting license applications over what the company referred to as "a discrete gold and multi-element anomaly." Irving believes that in the southern half of Southwest Noto is the location that holds the highest gold deposits in three catchments. The company stated that in addition to gold the area offers opportunities for moderate to strong silver, arsenic, antimony and mercury along with modest copper potential.
Irving Resources' Director and Technical Advisor Dr. Quinton Hennigh remarked, "We are very happy to add these exciting new Noto Peninsula prospects to our existing high quality portfolio of Japanese gold projects...Like Hokkaido and Kyushu, we see district scale opportunity at Noto. The geology of this region shares similarities to nearby Sado Island, host to the famous Sado Kinzan. The chemical signature of our four new blocks displays characteristics of this type of gold system."
Read what other experts are saying about:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Irving Resources. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Irving Resources, a company mentioned in this article.