Irving Resources Intersects Multiple Veins in First Three Holes at Omui Mine Site
VANCOUVER, British Columbia, June 25, 2020 (GLOBE NEWSWIRE) — Irving Resources Inc. (CSE:IRV) (“Irving” or the “Company”) is pleased to announce that recent drilling at Omui Mine Site, part of its 100% controlled Omu Gold Project, Hokkaido, Japan, has encountered multiple epithermal vein intercepts.
2020 Omui Mine Site Drilling Summary:Hole 20OMI-001, collared approximately 70 m east-southeast of hole 19OMI-010 and oriented at -60 degrees southward, intersected a “Honpi” type high grade epithermal vein grading 12.59 gpt Au and 12.22 gpt Ag (12.73 gpt Au eq) over 2.72 m beginning 60.0 m down hole (Figure 1 and Figure 2). This interval includes a higher grade core grading 125.00 gpt Au and 65.90 gpt Ag (125.78 gpt Au eq) over 0.25 m beginning at 62.47 m down hole. This vein is believed to trend east-northeast with a near vertical dip thus paralleling the historically mined Honpi vein situated approximately 65 meters to the north. If so, true width is estimated at about 50-60% of down hole width.The lower part of hole 20OMI-001 did not intersect the vein swarm seen in hole 19OMI-010 situated approximately 70 m west but encountered a very long interval of altered and silicified volcanic rocks with local stockwork silica veining. Based on these observations, Irving believes the veins encountered in hole 19OMI-010 are trending southeast or south-southeast and dip to the southwest meaning that hole 20OMI-001 effectively drilled parallel to and in the footwall of this vein swarm. Assays from the bottom half of hole 20OMI-001 are awaited.Hole 20OMI-002, the first hole testing the Nanko target situated approximately 700 m southeast of Honpi, encountered multiple epithermal vein and hydrothermal breccia intercepts in the upper half of the hole. The hole drilled southward at -60 degrees. Some veins display ginguro, bands of silver minerals (Figure 3 and Figure 4). The first vein was encountered at 9.5 m down hole suggesting that there might be more veins in the immediate vicinity of the drill collar. Irving believes that a step-out hole positioned north of 20OMI-002 will be needed to confirm this possibility. Multiple vein orientations are observed in the top of hole 20OMI-002, and Irving is currently modeling this data to gain a better understanding so that future drilling can be optimized to further test these veins. Hole 20OMI-003, collared approximately 230 m southwest of 20OMI-002 and oriented north-northeast at -60 degrees, is currently in progress. Similar to hole 20OMI-002, hole 20OMI-003 has encountered multiple vein and hydrothermal breccia intercepts throughout the hole to its current depth of 327 meters. The first such intercept begins at 16.6 m down hole suggesting there is further potential to discover more veins in the immediate vicinity of the drill collar. Some vein intercepts display boiling textures including bladed calcite (Figure 5) and ginguro (Figure 6). Multiple vein orientations are observed in the top of hole 20OMI-003, and more study is needed to understand these so that future drilling can be optimized.Irving has an ongoing, robust drill program at Omui Mine Site that it expects to continue into fall 2020.“We are very pleased with the numerous veins we have seen in our 2020 drill holes from Omui Mine site,” commented Dr. Quinton Hennigh, director and technical advisor to Irving Resources. “We clearly have a lot going on with vein sets following multiple trends. Although we did not see the same veins in the lower part of hole 20OMI-001 that we saw in last year’s hole 19OMI-010, we can now see that these likely follow a southeast trend and dip southwestward meaning we drilled in the footwall of that vein set. At Nanko, our first two holes, 20OMI-002 and 20OMI-003, have encountered multiple veins, some displaying ginguro, a very good sign. Ultimately, it might be that we find that the veins at the bottom of hole 19OMI-010 near Honpi link up with some of the veins we see at Nanko some 400-700 m away. Regardless, we have clearly discovered a robust network of epithermal veins on the property.”Assays from the forth hole, 20OMS-004, drilled at Omu Sinter earlier this year have returned. This hole, oriented southeastward at an inclination of -60 degrees, encountered a 1.27 m long vein intercept grading 2.39 gpt Au and 58.34 gpt Ag (3.08 gpt Au eq) beginning at 290.73 m down hole. Zones of intense silicification and veining were noted deeper in this hole right before a broad zone of fault gouge was encountered at a down hole depth of approximately 388 m. Irving currently is thinking this silicification and veining may be associated with the targeted vein, but that post mineral faulting has displaced this vein in this area. Irving is currently studying results at Omu Sinter in preparation for follow-up drilling at this important target later in 2020.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)/85.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 & DirectorFor further information, please contact:
Tel: (604) 682-3234 Toll free: 1 (888) 242-3234 Fax: (604) 971-0209
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.Photos accompanying this announcement are available athttps://www.globenewswire.com/NewsRoom/AttachmentNg/98c09bed-8d95-4117-9471-83598b60778dhttps://www.globenewswire.com/NewsRoom/AttachmentNg/389dd762-cab3-4793-88b7-9a85c7880810https://www.globenewswire.com/NewsRoom/AttachmentNg/15ec8c27-2aad-4f17-b94e-cfa8da0d77bfhttps://www.globenewswire.com/NewsRoom/AttachmentNg/37c40adb-320b-40a1-be55-d85daabffd0chttps://www.globenewswire.com/NewsRoom/AttachmentNg/e032001b-e535-4887-bc00-dc2157c1e4cdhttps://www.globenewswire.com/NewsRoom/AttachmentNg/7a715b7b-b423-4973-adb6-8ff143b8d523https://www.globenewswire.com/NewsRoom/AttachmentNg/898df87d-4ff1-4039-9aaa-39993410d9dc