Irving Resources’ First Drill Holes at Omui Mine Site Return High-Grade Gold and Silver (Au-Ag)
IRVING RESOURCES INC.
999 Canada Place, Suite 404
Vancouver, B.C., Canada V6C 3E2
December 17, 2019
NEWS RELEASE
Irving Resources’ First Drill Holes at Omui Mine Site
Return High-Grade Gold and Silver (Au-Ag)
Vancouver, British Columbia, December 17, 2019 (Globe Newswire) – Irving Resources Inc. (CSE:IRV)
(“Irving” or the “Company”) is pleased to announce its first two diamond drill holes completed at Omui
Mine site, part of its 100% controlled Omu Gold Project, Hokkaido, Japan, have encountered high-grade
Au-Ag vein intercepts . In addition, a recently completed deep hole at Omui Mine site has encountered
multiple epithermal veins within the boiling zone at vertical depths of over 300 m.
Omui Mine Site Drilling Highlights:
- The first two diamond drill holes completed at Omui Mine site, 19OMI-001 (oriented northwest at
an inclination of 45 degrees) and 19OMI-002 (oriented south at an inclination of 50 degrees), have
encountered high -grade Au -Ag vein mineralization (Figures 1 and 2). Results are summarized
below:
Summary of vein intercepts from holes 19OMI-001 and 19OMI-002:
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
Au Eq = Au (gpt) + Ag (gpt)/85
- Veins in both holes wer e intersected at shallow levels, and b ecause Irving believes this area has
seen limited erosion since vein formation approximately 12 million years ago, it is likely these
formed within 100 m of the paleo -surface. This implies that these veins may result from leakage
from a larger vein system at depth, an intriguing possibility given the very high grades encountered.
- As discussed in the Company’s news release dated November 5, 2019, recent controlled -source
audio-magnetotelluric (“CSAMT”) data gathered from Omui Mine site indicates the presence of a
broad, deep-rooted, northwest-trending electrically resistive zone underlying the target area . This
feature is interpreted to be silicified rocks generated by hydrothermal activity. A recent study of
hydrothermal fluid inclusions trapped in vein quartz from Omui indicates the top of the prospective
boiling zone starts at around 380 m beneath the paleo-surface. Irving believes the most prospective
target at Omui lies at depths of over 300 m below present surface along the CSAMT resistive zone.
- As a first test of the CSAMT anomaly discussed above, Irving recently completed deep diamond
drill hole 19OMI-010. This hole was oriented south at an inclination of 60 degrees and drilled to
approximately 584 m. This hole encountered silicified volcanic ro cks over its entire length.
Multiple quartz veins were encountered. At depths shallower than 300 m, veins are dominated by
low-temperature quartz, however, below this point , veins display strong indications of boiling
including ubiquitous bladed calcite, a mineral deposited by boiling hot spring waters. Several such
veins contain notable amounts of ginguro, or silver sulfosalts. Possible small grains of electrum, a
natural gold-silver alloy, were observed in at least two veins. Irving is encouraged by observations
from this hole.
- Drilling at Omui Mine site has ceased for the remainder of 2019 due to inclement weather including
heavy snow. A total of ten holes were completed since early October encompassing approximately
2,558 m. The drill has been relocated to Omu Sinter where it will resume drilling in January 2020.
Irving anticipates undertaking additional drilling at Omui Mine site once snow melts in April or
May. In the meantime, core is being logged, sawn and sampled. All core from the first ten holes at
Omui Mine site is expected to be delivered to the ALS Global laboratory in Australia by year end.
“We are excited by the high grades seen in our first two holes from Omui Mine site,” commented Dr.
Quinton Hennigh, director and technical advisor to Irving. “Given these intercepts occur high in the system,
we think they bode well for the discovery of furt her high grade veins within the boiling zone below. Our
first deep hole, 19OMI-010, has intersected multiple veins displaying clear indications of boiling and
provides us our first glimpse of the deeper part of the system at Omui. We eagerly await further assays from
this exciting discovery at our Omu Gold Project.”
True widths of veins intercepts discussed in this news release cannot be estimated at this time. Furth er
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 th rough 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 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 showing the location of diamond drill holes at Omui Mine site.)
(Figure 2: Cross section through holes 19OMI-001 and 19OMI-002 looking east.)