Irving Resources Further Defines Gold System at Omu Sinter
IRVING RESOURCES INC.
999 Canada Place, Suite 404
Vancouver, B.C., Canada V6C 3E2
June 13, 2019
NEWS RELEASE
Irving Resources Further Defines Gold System at Omu Sinter
Vancouver, British Columbia , June 13, 2019 (Globe Newswire ) – Irving Resources Inc. (CSE:IRV)
(“Irving” or the “ Company”) is pleased to provide an update on drilling and loop electromagnetic
(“EM”) surveys at its 100% controlled Omu Gold Project, Hokkaido, Japan.
Highlights:
- Assays from hole 19OMS -002 show continuous gold ( Au) and silver ( Ag) mineralization
over 152 m including multiple significant vein and vein breccia zones.
- Two phases of mineralization are evident at Omu Sinter, an early Ag-rich phase and a later
Au-rich phase.
- Recent data indicates the boiling zone lies at approximately 380 m below surface. Irving
believes regions at or below this level are most prospective for high-grade gold
mineralization and is making plans to drill test this deeper level.
- Holes 19OMS-004 and 19OMS-005 intercept veins displaying similar sulfide assemblages to
those seen in the high-grade vein encountered in hole 19OMS -002. Of particular note is an
approximately 7.5 m long intercept of such vein material intercepted in hole 19OMS-005.
- Possible Mesozoic basement sedimentary rocks encountered in hole 19OMS-003 give rise to
a potential “Hishikari”-like geologic setting at Omu Sinter.
- Recent ground loop EM survey shows detailed picture of st ructure and stratigraphy at
Omu Sinter further helping define the high-grade target.
Discussion:
Assays have returned for hole 19OMS-002 from 182.0 meters to the end of the h ole at 421.2 m. Assays
from the upper part of this hole are expected back soon. Continuous gold and silver mineralization occurs
between 182.0 m and a major fault zone encountered at 334.05 m (refer to nearby table of assays ). In
addition to the high-grade vein encountered between 184.93 -185.72 m ( 48.96 gpt Au and 945.4 gpt Ag
discussed in the Company’s news release dated May 6, 2019 ), sixteen significant vein and vein breccia
zones were encountered (highlighted in grey in the nearby table of assays). A drill plan map is shown in
Figure 1, and Figures 2 and 3 illustrate cross sections showing Au equivalent values and silver -to-gold
ratios, respectively, in hole 19OMS-002. Reference should be made to the table of assays for the grade of
each used to establish gold equivalent values.
Irving believes there were two phases of mineralization at Omu Sinter, an early silver-rich phase followed
by a later gold -rich phase. Vein material associated with t he early silver -rich phase typically displays
banded white quartz along with thin seams of black, Ag -bearing sulfide minerals termed “ ginguro”.
Where high gold values are present, bands of pyrite and/or marcasite are present in and around quartz
veins. Hole s 19OMS-004 and 19OMS-005, both recently completed, encountered intervals of banded
veins displaying pyrite and marcasite ( Figure 4 and 5 ) as well as multiple vein intervals displaying
ginguro. Of particular note is a nearly 7.5 m long interval of quartz-pyrite-marcasite vein material
intercepted in hole 19OMS-005 beginning at approximately 33 4 m. Parts of hole 19OMS -004 have been
split, sampled and shipped to the laboratory for assay. Splitting and sampling of hole 19OMS -005 is
currently underway.
Many veins encountered in holes 19OMS -002 are notably brecciated with vein fragments floating in
intensely clay altered volcanic rock. Intense c lay alteration is widespread in shallow portions of the Omu
Sinter hydrothermal system as it is in most hot sp ring epithermal deposits. Irving believes such vein
brecciation formed when movement occurred along the principal fault during mineralization causing
ductile clay to deform thus breaking apart newly formed veins. Because this movement appears to have
occurred during early stages of mineralization, many of the vein and vein breccias encountered in hole
19OMS-002 display high silver-to-gold ratios, especially proximal to the principal fault (Figure 3). Irving
believes breakage of these veins disconnected them from the underlying “plumbing” system before the
main gold depositional phase. Irving therefore believes that veins deeper in the system, where rocks are
more silicified and less clay altered, will potentially host high-grade mineralization like that seen between
184.93-185.72 m in hole 19OMS -002. Evidence of this is already apparent in veins encountered in holes
19OMS-004 and 19OMS-005 as discussed above.
A recently completed study of high -grade Au-Ag mineralization at the nearby Omui mine , sponsored by
Irving, found evidence of boiling beginning at depths of about 380 m. The boiling horizon is generally
considered the most favorable site of Au and Ag deposition in a hot spring system thus making it the most
prospective target in an epithermal vein. Assuming a similar boiling depth at Omu Sinter, Irving’s current
drill holes fall short of targeting this important regime (highlighted in Figures 2 and 3). Irving is currently
looking at readjusting drill pads further away from the target area to better test veins in regions up to 400
m below the circa 380 m deep boiling zone. It is expected that angle holes will need to reach depths of
700-900 m to adequately test the boiling horizon. The Company is making plans to ship PQ drill pipe (85
mm inside diameter) to Omu so that deeper holes can be drilled. Irving’s drill contractor currently utilizes
HQ drill pipe (63.5 mm inside diameter). Irving plans to drill PQ diameter holes to depths of 300 -500 m,
then use the PQ pipe as casing so that holes can be completed with HQ diameter drill pipe. PQ drill pipe
will reach Omu in July.
A review of core from hole 19OMS -003 has led to an important discove ry. Black rocks at the end of this
hole appear to be mudstone and siltstone belonging to the Mesozoic basement (Figure 6). Vertical depth
to these rocks is about 350 m, very close to the projected level of boiling discussed above. At the world
class Hishikari gold deposit, Kyushu, Japan, most veins are hosted by mudstone and siltstone belonging
to the Mesozoic basement immediately below Tertiary volcanic rocks. The position of boiling coincident
with the basement unconformity at Hishikari appears to h ave been a critical factor in generating its
extensive vein system and very high grades. Irving is excited by the prospect that prospective basement
host rocks might underlay the target area at Omu Sinter.
A loop EM survey was recently completed by Mitsui Mineral Development Engi neering Co., Ltd.
(“MINDECO”) at Omu Sinter revealing further evidence that basement rocks may underlie the target area
as well as providing a very clear picture of the underlying str uctural architecture that hosts the Omu
hydrothermal “plumbing” system ( Figure 7). Of particular note, a near vertical, highly resistive feature
projects to depths of +1,200 m. The western shoulder of this feature is coincident with the principal fault
that transects the region and has been repeatedly i ntersected in Irving’s drill holes. Irving can now
envision, with great precision, a high -grade target zone encompassing the hanging wall of the principal
fault and extending several hundred meters below the boiling zone-lithologic unconformity.
Since the last update ( please refer to the Company’s news release dated May 22, 2019 ), Irving has
completed hole 19OMS-004 to a depth of 312.1 meters. This hole abruptly terminated in the mineralized
zone when the drill rods became lodged in broken rock. Visual appearance of core from hole 19OMS-004
is similar to that seen in hole 19OMS -002, not surprising given both holes test the same respective level
in the system . Hole 19OMS-005 was drilled to 383.0 m from the same pad and at the same azimuth as
hole 19OMS-004, but at a steeper angle, -68 degrees rather than -60 degrees. Interestingly, core from hole
19OMS-005 displays a notable increase in silicification and decrease in brecciation of veins. Pyrite an d
marcasite are generally more abundant in veins, especially between approximately 330-350 m.
“We have made huge strides in understanding Omu Sinter over the past few weeks,” commented Dr.
Quinton Hennigh, director and technical advisor to Irving Resourc es. “ The high -grade vein we
encountered in hole 19OMS -002 is giving us a glimpse of what might lie at deeper levels. The
hydrothermal system appears to have been dynamic having been punctuated by fault movement after an
early, silver -rich depositional phas e. Later, gold -rich mineralization appears to have been unable to
exploit the broken vein network proximal to the principal fault. Because of this, w e believe this might
bode well for discovery of further high -grade gold trapped at depth. This hypothesis i s further supported
by new knowledge that boiling likely took place at depths of around 380 m and below. A notable 7.5 m
long interval of pyrite - and marcasite-rich veining, recently encountered in hole 19OMS -005, may prove
to be the first glimpse of this critical regime. Perhaps most exciting of all, we see potential evidence that
Mesozoic basement rocks underlie the targ et area. This paints a picture of geology similar to that seen at
Hishikari where a vast, high -grade vein network exploits fissures in Mesozoic basement rocks below the
unconformity with overlying Tertiary volcanic rocks. Exploration is an iterative proces s that requires
constant consideration of incoming data to better direct future work. Irving has refined the target at Omu
Sinter and is currently making plans to aggressively drill test deeper levels of the system.”
All samples discussed in this news re lease 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 MS 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 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) 641-1214
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 ACCE PT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS
RELEASE.
Table 1: Complete list of assays from hole 19OMS-002 beginning at 182 m to a major fault zone at 334.05 m.
Weighted averages for various intervals are highlighted in italics. Notable vein and vein breccia zones are shaded in
grey.
Hole From (m) To (m) Au (gpt) Ag (gpt) Au eq (gpt) Ag:Au
19OMS-002 182.00 182.35 0.03 1.0 0.04 40
182.35 182.93 0.26 8.0 0.35 31
182.93 183.75 0.57 13.0 0.72 23
183.75 184.39 0.95 18.0 1.16 19
184.39 184.93 1.70 35.0 2.11 21
184.93 185.25 118.50 1410.0 135.09 12
185.25 185.72 1.61 629.0 9.01 391
Weighted
average
184.93 185.72 48.96 945.4 60.08 19
185.72 186.50 0.24 6.0 0.31 25
186.50 186.96 0.48 9.0 0.59 19
186.96 187.08 0.59 37.0 1.03 63
187.08 187.69 0.31 5.0 0.37 16
187.69 187.84 0.57 18.0 0.78 32
187.84 188.15 0.81 22.0 1.07 27
188.15 188.25 1.75 38.0 2.20 22
188.25 188.82 0.61 19.0 0.83 31
188.82 189.50 0.88 17.0 1.08 19
189.50 189.90 0.61 10.2 0.72 17
189.90 191.00 0.21 5.3 0.27 26
191.00 191.42 1.68 35.2 2.09 21
191.42 191.92 1.23 23.1 1.50 19
191.92 192.50 0.31 10.4 0.44 33
192.50 193.20 0.41 8.4 0.51 20
193.20 193.80 0.63 12.6 0.78 20
193.80 194.00 0.20 5.9 0.27 30
194.00 194.35 0.24 5.4 0.30 22
194.35 195.25 0.16 5.4 0.22 34
195.25 196.15 0.57 18.7 0.79 33
196.15 197.00 1.24 17.4 1.44 14
197.00 197.33 1.48 14.1 1.65 9
197.33 197.73 1.37 23.1 1.64 17
197.73 198.55 0.23 4.7 0.28 21
198.55 199.50 0.29 7.8 0.39 27
199.50 199.80 0.41 12.7 0.56 31
199.80 200.80 0.36 10.5 0.49 29
200.80 201.50 0.17 2.7 0.20 16
201.50 202.50 0.42 4.5 0.48 11
202.50 203.10 0.77 17.3 0.97 23
cont'd: Complete list of assays from hole 19OMS-002
From (m) To (m) Au (gpt) Ag (gpt) Au eq (gpt) Ag:Au
203.10 203.67 0.31 31.8 0.68 104
203.67 203.94 0.16 4.8 0.22 30
203.94 204.70 0.43 14.2 0.59 33
204.70 205.70 0.41 16.2 0.60 40
205.70 206.12 0.07 3.2 0.10 48
206.12 206.62 2.07 28.7 2.41 14
206.62 206.92 4.76 111.0 6.07 23
206.92 207.40 0.28 5.8 0.34 21
207.40 208.20 0.24 6.0 0.31 25
208.20 208.70 0.34 7.2 0.42 21
208.70 209.30 0.33 8.5 0.43 26
209.30 209.62 0.72 12.8 0.87 18
209.62 210.42 0.43 9.7 0.54 23
210.42 211.02 0.20 8.2 0.30 41
211.02 211.40 0.30 10.8 0.43 36
211.40 212.00 0.48 9.5 0.59 20
212.00 212.56 0.19 5.5 0.25 29
212.56 213.12 0.46 14.6 0.63 32
213.12 213.68 0.23 7.8 0.32 34
213.68 214.24 0.33 6.9 0.41 21
214.24 214.80 0.14 4.9 0.20 36
214.80 215.80 1.05 48.9 1.63 47
215.80 216.80 0.22 8.9 0.32 41
216.80 217.90 0.16 5.1 0.22 32
217.90 218.80 0.47 16.1 0.66 34
218.80 219.80 0.16 8.8 0.26 56
219.80 220.00 0.07 1.7 0.09 23
220.00 221.00 0.19 5.2 0.25 28
221.00 221.76 0.84 19.3 1.07 23
221.76 222.52 0.43 17.2 0.63 40
222.52 223.30 1.19 32.9 1.58 28
223.30 223.90 0.83 33.8 1.22 41
223.90 224.62 0.12 13.7 0.28 114
224.62 225.06 0.22 30.4 0.58 138
225.06 225.66 0.18 13.5 0.34 75
225.66 225.86 0.29 100.0 1.47 341
225.86 226.20 0.20 47.8 0.76 244
226.20 226.70 0.15 9.5 0.26 62
cont'd: Complete list of assays from hole 19OMS-002
From (m) To (m) Au (gpt) Ag (gpt) Au eq (gpt) Ag:Au
226.70 227.66 0.17 15.4 0.35 93
227.66 228.35 0.53 16.2 0.72 30
228.35 229.03 0.35 13.4 0.51 38
229.03 229.46 0.92 20.1 1.16 22
229.46 230.00 0.09 4.3 0.14 49
230.00 230.90 0.06 6.9 0.15 108
230.90 231.90 1.21 60.9 1.93 50
231.90 232.90 1.58 43.4 2.09 27
232.90 233.45 1.35 12.8 1.50 9
233.45 233.95 0.77 12.6 0.91 16
233.95 234.95 2.10 21.1 2.35 10
234.95 235.40 0.41 11.5 0.55 28
235.40 235.80 0.23 7.3 0.32 32
235.80 236.80 1.29 22.7 1.56 18
236.80 237.50 0.19 9.2 0.30 49
237.50 237.60 No sample
237.60 238.20 0.28 11.5 0.41 41
238.20 239.00 0.45 19.9 0.68 44
239.00 239.70 0.25 23.7 0.53 94
239.70 240.50 0.24 15.2 0.42 63
240.50 241.05 1.27 23.9 1.55 19
241.05 242.00 0.56 16.7 0.75 30
242.00 242.80 1.87 80.8 2.82 43
242.80 243.80 1.30 30.0 1.65 23
243.80 244.70 0.11 3.8 0.15 35
244.70 245.10 0.20 8.9 0.30 46
245.10 245.55 2.35 38.8 2.81 17
245.55 246.50 0.91 10.4 1.03 11
246.50 247.50 0.91 15.6 1.10 17
247.50 248.50 0.31 7.2 0.39 23
248.50 249.40 0.72 18.7 0.94 26
249.40 250.40 0.98 85.7 1.99 87
250.40 251.10 0.42 9.4 0.53 23
251.10 251.60 0.81 39.2 1.27 49
251.60 252.26 0.48 16.2 0.67 34
252.26 253.13 0.29 8.8 0.39 30
253.13 254.00 0.23 5.2 0.29 23
254.00 254.30 0.29 6.8 0.37 23
cont'd: Complete list of assays from hole 19OMS-002
From (m) To (m) Au (gpt) Ag (gpt) Au eq (gpt) Ag:Au
254.30 254.60 0.56 8.2 0.65 15
254.60 255.27 0.42 10.2 0.54 24
255.27 255.93 0.18 6.7 0.26 37
255.93 256.23 0.39 20.1 0.62 52
256.23 257.00 0.45 10.2 0.57 23
257.00 257.70 0.21 3.5 0.25 17
257.70 258.50 1.24 33.0 1.63 27
258.50 258.93 0.75 16.6 0.95 22
258.93 260.00 0.82 26.4 1.13 32
260.00 260.80 0.59 52.8 1.22 89
260.80 261.65 0.69 15.1 0.87 22
261.65 262.65 0.58 7.6 0.67 13
262.65 263.65 0.30 15.7 0.48 53
263.65 264.65 0.73 17.4 0.93 24
264.65 265.30 0.26 6.5 0.33 26
265.30 265.93 0.32 12.7 0.47 39
265.93 266.85 0.33 27.2 0.65 82
266.85 267.50 0.32 16.8 0.52 52
267.50 268.25 0.72 18.8 0.94 26
268.25 269.00 1.71 24.2 1.99 14
269.00 269.95 0.23 7.9 0.33 34
269.95 270.15 0.67 28.0 1.00 42
270.15 270.50 0.33 8.0 0.42 25
270.50 271.30 0.60 21.5 0.85 36
271.30 271.50 0.17 9.5 0.28 57
271.50 272.00 0.29 19.1 0.51 67
272.00 272.70 1.34 45.0 1.87 34
272.70 273.40 0.94 30.7 1.30 33
273.40 274.00 0.74 23.2 1.01 31
274.00 274.60 1.55 48.7 2.12 31
274.60 275.60 1.25 63.2 1.99 51
275.60 276.50 0.34 12.6 0.48 37
276.50 277.10 0.19 7.7 0.28 41
277.10 277.80 0.18 8.8 0.29 48
277.80 278.60 0.24 9.2 0.35 39
278.60 279.65 0.15 10.6 0.27 73
279.65 280.70 0.64 21.8 0.90 34
280.70 281.60 0.34 31.6 0.71 93
cont'd: Complete list of assays from hole 19OMS-002
From (m) To (m) Au (gpt) Ag (gpt) Au eq (gpt) Ag:Au
281.60 281.80 2.30 268.0 5.45 117
281.80 282.80 1.21 43.3 1.72 36
282.80 283.80 3.21 28.8 3.55 9
Weighted
average
182.00 283.80 1.01 26.5 1.32 26
283.80 284.80 0.18 31.8 0.55 181
284.80 285.80 0.33 10.1 0.45 31
285.80 286.80 0.46 14.9 0.63 33
286.80 287.80 0.42 16.0 0.60 39
287.80 288.80 0.13 3.7 0.18 28
288.80 289.80 0.09 2.5 0.12 27
289.80 290.80 0.31 10.0 0.42 32
290.80 291.80 0.04 1.5 0.05 43
291.80 292.80 0.07 3.1 0.10 48
292.80 293.80 0.10 3.5 0.14 36
293.80 294.40 0.20 12.0 0.34 60
294.40 294.90 0.16 6.7 0.24 42
294.90 295.10 0.51 34.8 0.92 69
295.10 295.80 0.23 12.5 0.38 53
295.80 296.80 0.26 11.2 0.39 44
296.80 297.70 0.13 5.5 0.20 42
297.70 298.60 0.15 7.1 0.23 49
298.60 298.80 0.13 7.8 0.23 59
298.80 299.00 0.33 21.2 0.58 64
299.00 300.00 0.55 16.2 0.74 29
300.00 301.00 0.18 10.5 0.31 57
301.00 302.00 0.30 8.3 0.39 28
302.00 303.00 0.28 7.8 0.37 28
303.00 303.95 0.14 7.7 0.23 56
303.95 304.50 0.20 9.9 0.31 51
304.50 305.17 0.11 8.5 0.21 79
305.17 305.37 0.23 12.4 0.37 55
305.37 305.70 0.19 8.2 0.28 44
305.70 306.40 0.29 24.4 0.58 83
306.40 307.10 0.23 14.0 0.39 61
307.10 308.10 0.27 24.4 0.56 90
308.10 309.20 0.20 24.6 0.49 122
309.20 310.20 0.49 20.5 0.74 41
310.20 311.00 0.37 14.7 0.54 40