Irving Resources Encounters Extensive Shallow Mineralization at the Nanko Vein System, Omui Mine Site
IRVING RESOURCES INC.
999 Canada Place, Suite 404
Vancouver, B.C., Canada V6C 3E2
November 13, 2020
NEWS RELEASE
Irving Resources Encounters Extensive Shallow Mineralization
at the Nanko Vein System, Omui Mine Site
Vancouver, British Columbia, November 13, 2020 (Globe Newswire) – Irving Resources Inc.
(CSE:IRV) (“Irving” or the “Company”) is pleased to announce gold and silver assay results
from drilling at the Nanko vein target, Omui Mine Site, part of its 100% controlled Omu Gold
Project, Hokkaido, Japan.
Summary:
- Holes 20OMI-004 and 20OMI-005 were both drilled from the same drill pad at the
same north-northeast azimuth as previously announced drill hole 20OMI-003 that
encountered multiple high grade veins (please refer to the Company’s news release
dated August 13, 2020 for further details). Hole 20OMI-005, drilled at an inclination
of 65 degrees, encountered a very long intercept of 81.73 m grading 1.44 gpt Au eq
(1.02 gpt Au and 31.29 gpt Ag) beginning at a down hole depth of 27.45 m (please
refer to table below). Included within this are several higher grade vein intercepts
including 8.42 gpt Au eq (7.05 gpt Au and 102.50 gpt Ag) over 1.60 m, 3.33 gpt Au
eq (3.09 gpt Au and 17.89 gpt Ag) over 3.35 m, 7.30 gpt Au eq (5.05 gpt Au and
168.96 gpt Ag) over 1.41 m and 4.85 gpt Au eq (0.84 gpt Au and 300.72 gpt Ag) over
0.65 m. Hole 20OMI-004, with an inclination of -55 degrees, encountered 55.44 m
grading 0.72 gpt Au eq (0.52 gpt Au and 15.24 gpt Ag) as well as several narrow higher
grade vein intercepts.
Summary of drill results from holes 20OMI-003, 20OMI-004 and 20OMI-005:
Hole From (m) To (m) Length (m) Au (gpt) Ag (gpt) Au eq (gpt)
20OMI-003 26.22 32.90 6.68 0.86 45.11 1.46 *
41.30 55.90 14.60 1.71 21.64 2.00 *
185.00 187.10 2.10 1.24 37.92 1.75 *
207.00 221.24 14.24 3.55 69.24 4.47 *
including 210.00 211.30 1.30 5.99 61.55 6.81 *
including 218.54 220.30 1.76 8.15 147.29 10.11 *
225.30 229.00 3.70 2.92 38.43 3.43 *
including 228.00 229.00 1.00 5.13 32.80 5.57 *
341.70 343.42 1.72 21.65 538.75 28.83 *
including 342.20 342.80 0.60 56.10 1435.00 75.23 *
20OMI-004 16.50 71.94 55.44 0.52 15.24 0.72
including 22.80 23.58 0.78 1.68 32.20 2.11
including 34.90 35.90 1.00 2.49 24.30 2.81
140.53 140.75 0.22 4.11 74.50 5.10
20OMI-005 27.45 109.18 81.73 1.02 31.29 1.44
including 28.70 30.30 1.60 7.05 102.50 8.42
including 36.82 37.58 0.76 2.63 47.56 3.26
including 38.00 40.36 2.36 2.51 52.43 3.21
including 52.35 55.70 3.35 3.09 17.89 3.33
including 63.89 64.46 0.57 1.63 140.00 3.50
including 78.40 79.95 1.55 2.95 22.21 3.25
including 92.59 94.00 1.41 5.05 168.96 7.30
including 93.26 93.58 0.32 20.50 572.00 28.13
including 107.55 108.20 0.65 0.84 300.72 4.85
Au eq (gpt) = Au (gpt) + Ag (gpt)/75
* = Previously announced in the Company’s news release dated August 13, 2020
- Figure 1 illustrates the interpreted geometry of the mineralized hot spring system
discovered at Nanko. Long mineralized intercepts near the tops of all three holes occur
in intensely silicified and brecciated rock that is interpreted to be part of an explosive
vent in the upper portion of the hot spring regime. The root structure that likely fed this
vent is interpreted to be the high grade vein network encountered somewhat deeper in
hole 20OMI-003.
- Individual vein structures encountered in holes 20OMI-003, 20OMI-004 and 20OMI-
005 display at least two principal orientations, one trending northwest and the other
trending northeast. Irving has recently completed four additional diamond drill holes,
20OMI-006, 20OMI-007, 20OMI-008 and 20OMI-009, in an area approximately 200
meters to the northeast. All of these newer holes have encountered vein mineralization,
and Irving believes that some of these veins are extensions of those seen in the three
holes discussed above. Irving also believes the veins at Honpi, approximately 600 m to
the northwest, are also connected with some veins at Nanko.
- A structural study of the vein system at Omui Mine Site will be conducted early next
year. This study is expected to guide next year’s infill and step-out drill program at
both the Honpi and Nanko targets.
- Drilling at Omui Mine Site has concluded, and the drill has been repositioned at Omu
Sinter where it is scheduled to complete four new holes over the coming months. The
first of these holes tests a vertical resistivity feature under hole 20OMS-002, drilled
earlier this year, in which 22.9 m grading 0.99 gpt Au eq was encountered in a shallow
sinter cap (please refer to the Company’s news release dated April 21, 2020 for further
details). Irving believes this feature may be associated with a feeder structure for this
hot spring system. A well-deserved drill break is scheduled between December and
January for the drill team who have been operating non-stop since COVID-19 travel
restrictions were implemented beginning in March of this year.
“Assays from holes 20OMI-004 and 20OMI-005 provide us with a more complete profile of the
Nanko hot spring system,” commented Dr. Quinton Hennigh, director and technical advisor to
Irving Resources. “We clearly have a well-preserve deposit with a large silicified cap and veins
underneath. At least two sets of veins are present, one trending generally northwest, and the other,
northeast. Recently completed holes approximately 200 m northeast of the Nanko discovery holes
have intersected veins that appear to be part of the same network. Assays for these holes are
expected back late this year after which time a structural study will be undertaken to better
understand the entire vein system at Omui Mine Site. Meanwhile, our drill has moved to Omu
Sinter where four holes are scheduled for completion over the coming months.”
The Omu region continues to report no cases of COVID-19, and Irving continues to operate under
strict Company guidelines.
All samples discussed in this news release are ½ split sawn diamond core samples. Irving
submitted rock samples to ALS Global, Vancouver, Canada, 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 staff and personnel from Mitsui Mineral Development Engineering Co., Ltd.
(MINDECO) are responsible for geologic logging and sampling of core. Au equivalent is
calculated by adding Au (gpt) to Ag (gpt)/75. Assay turn around has been slow due to COVID-19
and high throughput demand at the Vancouver laboratory.
Quinton Hennigh (Ph.D., P.Geo.) is the qualified person pursuant to National Instrument 43-101
responsible for, and having reviewed and approved, the 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). 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 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: Cross section showing mineralized intercepts in holes 20OMI-003, 20OMI-004 and
20OMI-005 at Nanko, Omui Mine Site. The interpreted mineralizing hot spring system appears
in lavender. A large volume of silicification and brecciation is present near surface and is
believed to have formed around a hydrothermal vent fed by deeper structures that now host high-
grade veins such as those encountered deeper in hole 20OMI-003.)