Irving Resources Intersects High-Grade Au-Ag Veins at Omui Mine Site, Omu Project, Hokkaido, Japan
IRVING RESOURCES INC.
999 Canada Place, Suite 404
Vancouver, B.C., Canada V6C 3E2
July 7, 2022
NEWS RELEASE
Irving Resources Intersects High-Grade Au-Ag Veins at Omui Mine Site, Omu Project,
Hokkaido, Japan
Vancouver, British Columbia, July 7, 2022 (Globe Newswire) – Irving Resources Inc. (CSE:IRV;
OTCQX: IRVRF) (“Irving” or the “Company”) is pleased to announce that both diamond drill
holes completed at the Omui mine site, part of its 100% controlled Omu Au-Ag Vein Project,
Hokkaido, Japan, have encountered high-grade veins.
Summary of Winter Diamond Drill Holes Completed at Omui Mine Site:
- Highlighted vein intercepts from the two holes completed at Omui mine site during winter
2022 include:
o 7.39 gpt Au and 10.07 gpt Ag (7.52 gpt Au eq) over 8.58m within 4.44 gpt Au
and 14.97 gpt Ag (4.63 gpt Au eq) over 15.25m, and a second interval of 7.55 gpt
Au and 155.00 gpt Ag (9.49 gpt Au eq) over 0.79m in hole 22OMI-001
o 9.60 gpt Au and 63.30 gpt Ag (10.39 gpt Au eq) over 0.71m, a second intercept
of 13.75 gpt Au and 23.13 gpt Ag (14.04 gpt Au eq) over 1.07m, and a third
intercept of 12.50 gpt Au and 8.34 gpt Ag (12.60 gpt Au eq) over 1.00m in hole
22OMI-002
- Veins encountered in holes 22OMI-001 and 22OMI-002 are thought to belong to the same
network of high-grade veins encountered in this area by holes completed prior to COVID-
19 in the latter half of 2019 (Figure 1).
- Veins encountered in the upper part of hole 22OMI-002 suggest the mineralized vein
system at Honpi likely connects with that at Nanko about 450m to the south, which would
be a very promising outcome.
- Given the angles at which veins were intercepted in both holes, the Company believes true
vein widths are approximately 70-80% of drill intercept widths.
- These two holes were collared south of the Honpi structure and drilled northward
successfully encountering veins in the footwall, or upthrown, block of this east-west fault.
Neither of these two holes reached the northern hanging wall block where a buried sinter
system was encountered in drilling last year.
- A third hole that was planned to drill test the hanging wall block was not completed due to
equipment breakdown in March followed by a wave of COVID-19 that afflicted crews on
site during the latter part of March and early April. The hanging wall feeder target situated
beneath the buried sinter mound remains untested. Irving plans to drill this target when
drilling resumes.
Irving has recently been notified that its newly purchased Zinex A-5 drill has arrived at port in
Hokkaido. This rig will soon be transported to Omu where it will be utilized to conduct follow-up
drilling at Omui and other targets on this project. As indicated in a recent news release, the
Company has decided to buy its own drill rigs and develop an in-house team of drillers and helpers
so that drilling can be undertaken more easily going forward.
Drilling has recently resumed at Hokuryu mine site where hole 21HKR-001 is currently being
deepened. This hole had to be terminated due to inclement weather in November, 2021. Vein
mineralization was encountered near the bottom of this hole, so Irving has elected to continue
drilling to fully test the resistive CSAMT target in this area.
“Both holes completed at Omui in the winter of 2022 have yielded significant high-grade vein
intercepts,” commented Quinton Hennigh, technical advisor and a director of Irving. “The first of
two veins encountered in hole 22OMI-001 encountered a very impressive intercept of 7.52 gpt Au
eq over a true width believed to be around six metres. High-grade veins encountered in the upper
portion of hole 22OMI-002 occur in an area between Honpi and Nanko suggesting these two vein
systems located approximately 0.5km from one another may prove to be connected, which would
be a very encouraging discovery. Although we were not able to test the hanging wall feeder zone
target during this drill program, we expect to soon be testing this area with our new drill that has
just reached Japan. We are very excited to continue our exploration campaign at Omui with our
new in-house drill team,” commented Dr. Hennigh.
Summary of assays from diamond drill holes 22OMI-001 and 22OMI-002 at Omui:
Hole From (m) To (m) Length (m) Au (gpt) Ag (gpt) Au eq (gpt) Ag eq (gpt)
22OMI-001 84.08 86.30 2.22 0.79 21.03 1.05 84.23
234.20 235.90 1.70 2.03 38.63 2.52 201.27
including 234.20 235.20 1.00 2.78 55.50 3.47 277.90
265.18 265.87 0.69 0.92 54.71 1.60 128.31
281.10 296.35 15.25 4.44 14.97 4.63 370.49
including 281.10 281.29 0.19 0.97 362.00 5.49 439.20
and 284.82 293.40 8.58 7.39 10.07 7.52 601.27
including 288.25 293.40 5.15 11.10 13.02 11.26 900.99
300.70 302.80 2.10 1.62 8.64 1.73 138.24
310.00 311.80 1.80 1.86 30.68 2.25 179.70
329.60 331.18 1.58 1.81 18.46 2.04 162.86
including 329.60 330.00 0.40 4.47 42.10 5.00 399.70
335.00 338.00 3.00 1.42 6.87 1.51 120.47
352.00 355.43 3.43 2.01 48.07 2.61 208.55
including 353.35 354.14 0.79 7.55 155.00 9.49 759.00
358.10 374.63 16.53 1.61 19.77 1.86 148.57
including 358.92 362.50 3.58 2.39 25.32 2.71 216.76
and 368.45 369.43 0.98 2.15 70.00 3.03 242.00
and 370.14 370.54 0.40 4.96 98.60 6.19 495.40
379.62 384.26 4.64 1.08 11.84 1.23 98.62
including 382.47 383.04 0.57 2.73 18.35 2.96 236.75
395.55 397.80 2.25 0.95 14.71 1.13 90.71
408.00 412.59 4.59 1.26 6.38 1.34 107.18
22OMI-002 15.20 17.50 2.30 3.48 31.74 3.88 310.14
including 15.20 15.91 0.71 9.60 63.30 10.39 831.30
31.58 37.40 5.82 2.93 10.87 3.07 245.27
including 34.33 35.40 1.07 13.75 23.13 14.04 1123.13
75.66 76.15 0.49 2.04 29.40 2.41 192.60
117.88 118.20 0.32 4.01 72.00 4.91 392.80
127.55 129.85 2.30 2.14 17.68 2.36 188.88
including 127.55 127.85 0.30 14.30 56.70 15.01 1200.70
221.30 225.50 4.20 3.26 3.79 3.31 264.59
including 223.00 224.00 1.00 12.50 8.34 12.60 1008.34
253.00 256.00 3.00 0.95 6.92 1.04 82.92
263.00 265.28 2.28 0.95 6.44 1.03 82.76
Au eq = Au + (Ag/80); Ag eq = Ag + (Au x 80); recovery of both Au and Ag is expected to be +95% as smelter flux
At this time, Irving is not certain of true widths of these vein intercepts. More drilling is require to
determine accurate orientations.
“We are also very pleased to see high-grade Au-Ag intercepts in our first diamond drill hole at
Hokuryu, a mine shut down abruptly in 1943 during World War II. This is the first drill hole tested
at Hokuryu in many decades. Although it was temporarily halted before fully testing our target in
2021, these two vein intercepts confirm that expansion of the Hokuryu vein system is possible.
We are eager to complete this hole and the rest of the Hokuryu drill program over the coming
months. We are also very encouraged by what we are seeing in the first Omui drill hole of 2022
and are eager to drill more at this very important target.”
All samples discussed in this news release are ½ split sawn diamond core samples. Irving
submitted 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 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)/78.
Drill Collar Data:
Hole No. Type Grid
Collar
Easting
Collar
Northing Elevation Depth Azimuth Angle
22OMI-001 Core WGS84-54N 651345.6 4932797 171.266 704.15 25° -57°
22OMI-002 Core WGS84-54N 651625 4932835 189.15 602.3 360° -50°
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 verified the data disclosed, including core sampling protocols used and
analytical results including accompanying QA/QC data. Review of core sampling was conducted
by reviewing photographs of core taken by Irving staff prior to splitting and comparing to photos
of core taken after splitting and sampling. In person review of core was not feasible due to current
travel restrictions to Japan. Dr. Hennigh is a technical advisor and a 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 Joint Exploration 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 the potential for high-grade mineralization at the Omu project, as to
planned exploration activities, and that its newly purchased Zinex A-5 drill will soon be transported to Omu. 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: Plan map showing the traces of drill holes and assay flags of all holes completed at the
Omui mine site. Hole 22OMI-001 and 22OMI-002 are highlighted in bold.)