Irving Encounters High-Grade Gold in its First Drill Hole at the East Yamagano Project, Kyushu, Japan and Receives Additional Results from the Omu Project
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IRVING RESOURCES INC.
999 Canada Place, Suite 404
Vancouver, B.C., Canada V6C 3E2
May 7, 2024
NEWS RELEASE
Irving Encounters High-Grade Gold in its First Drill Hole
at the East Yamagano Project, Kyushu, Japan
and Receives Additional Results from the Omu Project
Vancouver, British Columbia, May 7, 2024 (Accesswire) – Irving Resources Inc. (CSE:IRV; OTCQX: IRVRF)
(“Irving” or the “Company”) is pleased to announce that the first diamond drill hole completed at the East
Yamagano epithermal gold-silver vein project, Kyushu, Japan, has encountered high-grade gold mineralization.
At a down hole depth of 184.0 metres, a 5.0-metre interval grading 9.62 gpt Au including 1.0 metre grading
45.90 gpt Au was encountered in hole 23SY-001 (please refer to the table below). A second interval of 1.33
metres grading 5.81 gpt Au was encountered beginning at 407.0 metres down hole depth. Both zones of
mineralization are comprised of stockwork quartz-carbonate veinlets measuring a few millimetres up to a couple
centimetres width. Visible gold was observed in fractures (Figures 1 and 2). This style of veining was reportedly
common in the adjacent historical Yamagano Mine. True widths of the mineralized intervals in hole 23SY-001
cannot be determined at this time.
Hole 23SY-001 was collared approximately 550 metres east of the easternmost main historical Yamagano Mine
workings and was drilled in a 30° east northerly direction at -55 degrees (Figures 3 and 4). This hole targeted a
steeply oriented zone of resistivity evident in AMT data. Volcanic rocks were encountered over the entire length
of the hole to its terminal depth of 549.7 metres. Hydrothermal silicification and argilization were observed
down most of the length of the hole and appear coincident with the targeted AMT resistive zone. In addition to
the gold intervals discussed above, two lower grade stockwork vein intervals were encountered deeper in the
hole (please refer to the table below). The area where 23SY-001 is located is partly covered by young, post-
mineral volcanic rocks making this high-grade intercept a blind intercept. It should be noted that the silver-to-
gold ratio of all intercepts is generally very low, less than 1, a characteristic of gold veins at the nearby Hishikari
deposit. Irving finds these early results very encouraging and provides supporting evidence that a potential
extension of the Yamagano vein system might be found under cover within the East Yamagano project.
“We are very pleased that our first drill hole at East Yamagano has encountered high-grade gold as hoped,”
commented Dr. Quinton Hennigh, technical advisor and director of Irving. “The character of the gold we see is
similar that which was mined at the adjacent Yamagano Mine. Given this is our first indication of potential vein
extensions, we are very keen to resume our exploration program which includes a series of up to four more
widely spaced holes that test other AMT resistive zones identified across the project.”
Orientations of Drill Holes at East Yamagano:
Hole No. Collar
Easting
Collar
Northing Elevation Depth Azimuth Angle
23SY-001 655124.2 3531833 419.2 549.7 30° -55°
Significant Mineralized Intercepts in Hole 23SY-001:
Hole From (m) To (m) Length (m) Au (gpt) Ag (gpt) AuEq (gpt)
23SY-001 184.00 189.00 5.00 9.62 0.66 9.63
includes 188.00 189.00 1.00 45.90 1.80 45.92
407.00 408.33 1.33 5.81 0.61 5.82
419.00 420.00 1.00 1.53 0.81 1.54
519.10 519.68 0.58 1.79 4.73 1.85
Au eq = Au + (Ag/80)
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Description of the Yamagano Mining License:
• The Yamagano mining district, situated approximately 11 km southwest of the large, high -grade
Hishikari gold mine, is host to numerous historic gold mine workings, some dating back to 1640AD
during the early Edo Period in Japan. Mining focused on a multitude of high-grade epithermal gold
veins hosted by volcanic rocks blanketing this region.
• Gold veins at Yamagano appear associated with a particular geophysical feature, an area of anomalously
high gravity, thought to represent a buried uplift, or dome, in underlying denser basement sedimentary
rocks. Such a geologic feature is believed to have focused gold-depositing hydrothermal fluids to ascend
into overlying faults and fissures where they formed extensive high-grade vein networks. A gravity high
was recognized very early as an important general control in the so-called Hokusatsu gold deposit s
including Kushikino gold mine (56 tonnes or 1.80 Moz Au produced) situated approximately 39 km
southwest of Yamagano. Based upon this geologic model, initial targeting of the famous Hishikari
deposits (more than 260 tonnes or 8.3 Moz Au produced) was driven largely by recognition of an
anomalous gravity high underlying that area. Irving believes the gravity high under East Yamagano
reflects a buried dome of basement rock and that, given the large footprint of this feature, there i s
prospectivity for a potential vein system.
Irving holds an option to acquire the Yamagano mining license. On January 23, 2024, Newmont Exploration Pty
Ltd, being an indirectly-held wholly-owned subsidiary of Newmont Corporation, (“Newmont”) designated the
Yamagano and Noto properties for joint venture pursuant to an alliance agreement between Irving and Newmont
(please refer to the Company’s news release dated January 23, 2024).
Additional Results from the Omu Project
Maruyama Initial Drill Test
Irving drilled one diamond drill hole, 23MAR-001B, testing a breccia pipe underneath the Maruyama silica
sinter deposit at the Company’s 100% controlled Omu gold-silver project, Hokkaido, Japan. A resistive zone
forming the core of the pipe was identified in CSAMT data. This hole was oriented to 325° northwest at an
angle of -52 degrees and reached a depth of 542.0 metres. Although this hole did not encounter high-grade
precious metal mineralization, five strongly anomalous intervals of mineralization were encountered ranging
from 4 to 58 metres in length (please refer to the table below). All of these zones of mineralization were
associated with variably hydrothermally silicified diatreme breccia material (Figure 5). Given the very large size
of the Maruyama sinter and its underlying breccia pipe, Irving is intrigued by these early results. Additional drill
targets are being considered to follow up on these results.
Orientations of Drill Holes at Maruyama:
Hole No. Collar
Easting
Collar
Northing Elevation Depth Azimuth Angle
23MAR-001B 643058.4 4936206 349.568 504 325° -52°
Anomalous Mineralized Intercepts in Hole 23MAR-001B:
Hole From (m) To (m) Length (m) Au (gpt) Ag (gpt) AuEq (gpt)
23MAR-001B 247.30 251.30 4.00 0.67 1.58 0.69
286.00 299.50 13.50 0.43 2.24 0.46
338.50 343.50 5.00 0.48 5.71 0.55
372.58 430.55 57.97 0.38 2.26 0.41
458.90 475.00 16.10 0.43 6.06 0.51
Au eq = Au + (Ag/80)
East Omui Extension Drill Test
Three diamond drill holes, 23OMI-003, 23OMI-004 and 23OMI-005m were completed in an area east of the
Omui mining license testing for vein extensions (Figure 6). Various steeply oriented resistive anomalies
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observed in CSAMT data were targeted (refer to table below for drill hole orientations). Narrow vein interecepts
were encountered in each of these three holes, albeit generally lower grade and narrower than veins encountered
in recent drilling within the centre area of the Omui mining license (please refer to the table below). Best results
from each hole include (true widths are not known at this time):
- 1.00 m grading 7.13 gpt Au and 0.31 gpt Ag (7.13 gpt AuEq) in hole 23OMI-003
- 1.00 m grading 1.47 gpt Au and 143.00 gpt Ag (3.26 gpt AuEq) in hole 23OMI-004
- 0.70 m grading 2.85 gpt Au and 145.00 gpt Ag (4.66 gpt AuEq) in hole 23OMI-005
Also noteworthy, a 24.5 m silicified interval grading 0.40 gpt Au and 25.81 gpt Ag (0.72 gpt AuEq) was
encountered at the top of hole 23OMI-004. Such shallow silicified rock is common to the west where it has been
encountered in multiple drill holes around the Nanko area. Such rock is probably the erosional remains of a sinter
terrace that once capped the feeder veins of Nanko. Irving is considering its next step for drilling in this area as
well as other locations where veins are projected to extend beyond the Omui mining license.
Orientations of Drill Holes at the East Omui Extension:
Hole No. Collar
Easting
Collar
Northing Elevation Depth Azimuth Angle
23OMI-003 653064.436 4932451.533 141.762 753.50 165° -50°
23OMI-004 652206.562 4932654.854 151.834 851.06 0° -52°
23OMI-005 652007.927 4932674.760 157.956 677.00 175° -60°
Significant Mineralized Intercepts in Holes Completed at the East Omui Extension:
Hole From (m) To (m)
Length
(m) Au (gpt) Ag (gpt) AuEq (gpt)
23OMI-003 37.50 38.50 1.00 7.13 0.31 7.13
23OMI-004 3.50 28.00 24.50 0.40 25.81 0.72
includes 25.00 26.00 1.00 1.47 143.00 3.26
52.00 58.00 6.00 0.94 27.92 1.29
includes 54.00 55.00 1.00 1.96 27.00 2.30
23OMI-005 12.00 14.00 2.00 1.33 6.41 1.41
72.00 72.40 0.40 1.17 48.90 1.78
81.70 82.40 0.70 2.85 145.00 4.66
Au eq = Au + (Ag/80)
All samples discussed in this news release are ½ split sawn diamond core samples. Irving submitted samples to
ALS Global, Perth, 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 mass spectrometry
following four acid digestion. Irving routinely inserts standard and blank samples in assay batches submitted to
the laboratory. Company staff are responsible for geologic logging and sampling of core. Au equivalent is
calculated by adding Au (gpt) to Ag (gpt)/80.
Results referred to in this news release are not necessarily representative of mineralization throughout each
respective project.
Quinton Hennigh (Ph.D., P.Geo.) is the qualified person pursuant to National Instrument 43-101 Standards of
Disclosure for Mineral Projects responsible for, and having reviewed and approved, the technical information
contained in this news release. Dr. Hennigh is a technical advisor and a director of Irving Resources Inc. and has
verified the data disclosed including sampling, through review of photographs of core prior to and after sawing
and sampling, and analytical, through review of standard and blank analyses.
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About Irving Resources Inc.:
Irving is a junior exploration company with a focus on gold in Japan. Irving resulted from completion of a plan
of arrangement involving Irving, Gold Canyon Resources Inc. and First Mining Finance Corp.
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) 682-3234Toll free: 1 (888) 242-3234Fax: (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 industry,
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 – Quartz veinlet displaying coarse visible gold.)
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(Figure 2 – Close-up of coarse visible gold particle in Figure 1. Width of picture frame is 7mm.)
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(Figure 3 – Plan map showing the outline of the Yamagano Mining Lease (blue, optioned by
Irving), the outline of the western part of the East Yamagano claimblock (black), the traces of
Yamagano underground mine workings (gray) and the trace of hole 23SY-001 (red).
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(Figure 4 – Comprehensive cross sectional view of hole 23SY-001 showing gold assay flags.
Backdrop is CSAMT resistivity data.)
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(Figure 5 – Cross sectional view of hole 23MAR-001 showing gold assay flags. Backdrop is
CSAMT resistivity data.)