Irving Resources Seals Joint Venture with Newmont and Sumitomo

Irving Resources (TSE:IRV) has released an update.

Irving Resources Inc. has successfully finalized a term sheet for a joint venture with Newmont Corporation and Sumitomo Corporation, focused on the Yamagano and Noto properties. This strategic alliance sets the stage for a definitive agreement, which will outline an initial exploration plan including diamond drilling. The joint venture will be owned 60% by Newmont, 27.5% by Irving, who will also manage the venture, and 12.5% by Sumitomo.

For further insights into TSE:IRV stock, check out TipRanks’ Stock Analysis page.