Irving Resources Encounters More High-Grade Gold and Silver at Omui Mine Site; Commences Drilling at Omu Sinter
IRVING RESOURCES INC.
999 Canada Place, Suite 404
Vancouver, B.C., Canada V6C 3E2
January 17, 2020
NEWS RELEASE
Irving Resources Encounters More High-Grade Gold and Silver
at Omui Mine Site; Commences Drilling at Omu Sinter
Vancouver, British Columbia, January 17, 2020 (Globe Newswire) – Irving Resources Inc. (CSE:IRV)
(“Irving” or the “ Company”) is pleased to announce assays from five shallow diamond drill holes
completed at Omui Mine site, part of its 100% controlled Omu Gold Project, Hokkaido, Japan, in late 2019.
Omui Mine Site Drilling Highlights:
- Four of five shallow holes testing an area around the historic Honpi (Main Vein in En glish)
encountered significant vein mineralization bringing the total number of holes to encounter
significant veins to six out of seven, remarkable given the early stage of this project (please refer
to assay table below). Exact strike, dip and true thicknesses of veins are unknown at this time, but
it is believed variable vein orientations may be present. To date, significant results include:
o 19.25 gpt Au and 27.50 gpt Ag (19.57 gpt Au eq) over 1.00 m in hole 19OMI-001
o 6.05 gpt Au and 808.18 gpt Ag (15.56 gpt Au eq) over 1.80 m in hole 19OMI-002
o 3.52 gpt Au and 5.40 gpt Ag (3.58 gpt Au eq) over 1.50 m in hole 19OMI-004
o 2.07 gpt Au and 154.27 gpt Ag (3.88 gpt Au eq) over 1.30 m in hole 19OMI-005
o 7.35 gpt Au and 470.99 gpt Ag (12.89 gpt Au eq) over 1.60 m in hole 19OMI-006
o 11.89 gpt Au and 16.31 gpt Ag (12.09 gpt Au eq) over 2.25 m in hole 19OMI-007
- The first seven holes were drilled along a north-south oriented fence and all test shallow-level veins
situated well above the prospective boiling zone of the Omui system thought to be at a depth of
approximately 350 m. One goal of these seven shallow holes was to ascertain where the highest
density of shallow veining and mineralization is present to help target a deeper root feeder. A cross
section along this drill fence (please refer to Figure 1) suggests such a target lies at depth near the
south end of the drill fence or just beyond. This is an area where controlled-source audio -
magnetotelluric (“CSAMT”) data indicates the presence of a broad, deep -rooted, northwest -
trending electrically resistive zone is present. This feature is interpreted to be silicified rocks and
associated veining generated by hydrothermal activity.
- As discussed in a Company news release dated December 17, 2019, hole 19OMI-010, the first deep
hole drilled at Omui, tested the deep resistive feature discussed above. Following issuance of that
news release, Irving staff logged, sawed and sampled core from this hole. Between approximately
348 and 550 m, numerous quartz veins were noted, at least nine of which display small particles of
electrum (natural gold-silver alloy) and/or ginguro (silver sulfosalt minerals) on sawn surfaces.
Assays from this hole are expected back late January or early February.
- Resumption of drilling at Omu Sinter began on January 7, 20 20. Hole 20OMS-001 tests an area
near hole 19OMS-002 which encountered a vein grading 29.77 gpt Au and 575.7 gpt Ag (36.71 gpt
Au eq) over 1.33 m. Hole 20OMS-001 is currently at a depth of approximately 278 m and has
encountered several intervals of high-level banded vein quartz, some of which display ginguro. It
is hoped this hole will shed further light on the geometry and nature of the vein system in this area.
Following completion of this hole, Irving has planned a series of deeper holes that test a recentl y
identified prominent CSAMT resistive feature that forms a root structure trending north -south
along the axis of this large target. These will be the first deep holes drilled at Omu Sinter.
“Six of seven shallow holes from Omui Mine site display significant vein intercepts, ” commented Dr.
Quinton Hennigh, director and technical advisor to Irving. “This is remarkable given the early stage of this
project and high level which was tested. Hole 19OMI-010, our first deep test at Omui, tests under an area
where assays indicated a r oot feeder might lie at depth. Once we sawed core from this hole, we saw
numerous veins displaying specks of electrum and ginguro, a positive sign. We eagerly await assays from
that hole. We are happy to be drilling at Omu Sinter once again and are encouraged that our first new hole
has encountered several quartz vein intervals. We look forward to drill testing deeper levels at Omu Sinter
very soon. In short, 2020 is off to a very good start.”
Summary of vein intercepts from holes 19OMI-001 and 19OMI-002 (announced December 17, 2019):
Hole From (m) To (m) Length (m) Au (gpt) Ag (gpt) Au Eq (gpt)
19OMI-001 5.30 6.30 1.00 19.25 27.50 19.57
45.92 47.00 1.08 4.38 6.15 4.45
including 45.92 46.50 0.58 6.34 8.52 6.44
19OMI-002 46.40 58.50 12.10 1.58 139.90 3.23
including 54.70 56.50 1.80 6.05 808.18 15.56
including 55.55 55.88 0.33 28.90 4180.00 78.08
67.00 68.00 1.00 1.04 326.68 4.88
including 67.00 67.19 0.19 3.46 1195.00 17.52
Summary of vein intercepts from holes 19OMI-003 thru 19OMI-007 (new):
Hole From (m) To (m) Length (m) Au (gpt) Ag (gpt) Au Eq (gpt)
19OMI-003 No significant intervals
19OMI-004 3.80 5.30 1.50 3.52 5.40 3.58
27.25 27.80 0.55 1.37 45.10 1.90
19OMI-005 16.17 16.42 0.25 0.51 193.00 2.78
47.65 48.30 0.65 0.85 121.54 2.28
including 48.20 48.30 0.10 1.95 240.00 4.77
50.30 51.60 1.30 2.07 154.27 3.88
including 50.30 50.55 0.25 9.30 580.00 16.12
74.53 76.45 1.92 1.21 43.93 1.73
including 75.31 75.85 0.54 1.63 108.00 2.90
19OMI-006 9.60 9.80 0.20 6.88 228.00 9.56
58.60 60.20 1.60 7.35 470.99 12.89
including 59.64 60.20 0.56 19.30 1240.00 33.89
19OMI-007 0.00 20.90 20.90 2.51 5.83 2.58
including 0.00 7.45 7.45 5.3 9.03 5.41
including 5.20 7.45 2.25 11.89 16.31 12.09
including 6.70 7.45 0.75 19.70 22.80 19.97
12.50 13.20 0.70 3.65 4.67 3.70
14.20 15.00 0.80 3.04 4.54 3.09
18.90 19.90 1.00 2.63 11.60 2.77
100.20 101.10 0.90 1.25 228.01 3.93
including 100.20 100.26 0.06 4.64 2820.00 37.82
Au Eq = Au (gpt) + Ag (gpt)/85
True widths of veins intercepts discussed in this news release cannot be estimated at this time. Further
drilling is needed to accurately assess vein orientations. All samples discussed in this news release are ½
split sawn diamond core samples. Irving submitted rock samples to ALS Global, Australia, for analysis. Au
and Ag were analyzed by fire assay with AA finish. Overlimit samples were assayed by fire assay with
gravimetric finish. Multielements were analyzed by MS following three acid digestion. Irving staff and
personnel from Mitsui Mineral Development Engineering Co., Ltd. (MINDECO) are responsible for
geologic logging and sampling of core.
Quinton Hennigh (Ph.D., P.Geo.) is the qualified p erson pursuant to National Instrument 43 -101
responsible for, and having reviewed and approved, t he technical information contained in this news
release. Dr. Hennigh is a technical advisor and director of Irving Resources Inc.
About Irving Resources Inc.:
Irving is a junior exploration company with a focus on gold in Japan. Irving also holds, through a subsidiary,
a Project Venture Agreement with Japan Oil, Gas and Metals National Corporation (JOGMEC) for joint
regional exploration programs in Republic of Malawi. JOGMEC is a government organization established
under the law of Japan, administrated by the Ministry of Economy, Trade and Industry of Japan, and is
responsible for stable supply of various resources to Japan through the discovery of sizable economic
deposits of base, precious and rare metals.
Additional information can be found on the Company’s website: www.IRVresources.com.
Akiko Levinson,
President, CEO & Director
For further information, please contact:
Tel: (604) 682 -3234 Toll free: 1 (888) 242 -3234 Fax: (604) 971-0209
Forward-looking information
Some statements in this news release may contain forward -looking information within the meaning of Canadian securities
legislation including, without limitation, statements as to planned exploration activities. Forward-looking statements address future
events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements to be materially different from any future results, performance or achievements expressed or
implied by the statements. Such factors include, without limitation, customary risks of the mineral resource exploration indus try,
the availability to Irving of sufficient cash to fund any planned drilling and other exploration activities, as well as the performance
of services by third parties.
THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS
RELEASE.
(Figure 1: Plan map and cross section showing mineralized intercepts in seven shallow diamond drill holes at Omui
Mine site. Some vein orientations are likely oblique to the section, thus making continuity look irregular. Note the
long intervals of anomalous mineralization in holes near the south end of the section. It is below this area that hole
19OMI-010 was drilled testing for a root feeder. Multiple veins were encountered in this hole, nine of which display
electrum and ginguro.)