Home Japanese values Irving Resources announces plans to drill Omui mine site

Irving Resources announces plans to drill Omui mine site

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VANCOUVER, British Columbia, August 03, 2021 (GLOBE NEWSWIRE) – Irving Resources Inc. (CSE: IRV; OTCQX: IRVRF) (“Irving“or the”Company“) is pleased to announce plans for drilling at the Omui and Hokuryu mine site in Q3-Q4 2021 and to provide a summary of the results of its Q1-Q2 2021 diamond drill program to Omu Sinter. These three targets are part of Irving’s 100% controlled Omu Au-Ag vein project in Hokkaido, Japan.An initial drilling permit allowing Irving to drill at Hokuryu (officially registered as Shin-Hokuryu, known under the name New-Hokuryu) was recently received from the Ministry of Economy, Trade and Industry (METI), Hokkaido Bureau.

T3-T4 Omui mine site and Hokuryu diamond drilling campaign

Irving plans to begin diamond drilling at the Omui mine site and Hokuryu in the third and fourth quarters of 2021. At the Omui mine site, Rodren Drilling of Canada will drill a series of holes to track previous intersections high-grade veins on the Honpi and Nanko targets. At Hokuryu, the first drilling program will be undertaken using a Japan-based drilling contract with Sumiko Resources Exploration & Development Co., Ltd., a wholly owned subsidiary of Sumitomo Metal Mining Co., Ltd. Drilling will focus on the following priorities:

Honpi

  • Three holes will target vein extensions encountered in some of the deeper holes completed over the past two years, particularly hole 19OMI-010 which has encountered such notable intersections, including 3.00m grading 27.0 gpt Au and 40 , 5 gpt Ag, 1.10 m grading 29.6 gpt Au and 36.5 gpt Ag, 3.77 m grading 12.3 gpt Au and 84.5 gpt Ag, and 1.20 m grading 7.8 gpt Au and 887.5 gpt Ag. The three planned holes will be positioned to test the areas to the east and west of hole 19OMI-010. (Please refer to the Company’s press releases dated December 17, 2019 and February 7, 2020)
  • One hole will test areas north of the historic Honpi vein where shallow holes completed in 2019 encountered high grade veins. The intersections include 1.00 m grading 19.25 gpt Au and 27.50 gpt Ag in hole 19OMI-001 and 1.80 m grading 6.05 gpt Au and 808.18 gpt Ag in hole 19OMI-002. The planned drilling should involve extensions of these veins. (Please refer to the Company’s press release dated December 17, 2019)

Nanko

  • A hole tested for the deeper extensions of the veins encountered in holes 20OMI-003, 20OMI-004 and 20OMI-005 last year. More specifically, hole 20OMI-003 encountered two veins, one grading 8.15 gpt Au and 147.29 gpt Ag over 1.76 m in a wider intersection of 3.55 gpt Au and 69.24 gpt Ag over 14 , 24 m and a second vein grading 21.65 gpt Au and 538.75 gpt Ag. Over 1.72 m including 56.10 gpt Au and 1,435.00 gpt Ag over 0.60 m. The planned hole will be drilled generally from north to south. (Please refer to the Company’s press release dated November 13, 2020)
  • A second hole will test an area northeast of holes 20OMI-006, 20OMI-007 and 20OMI-008 with 2.39 m vein intersections grading 5.22 gpt Au and 103.6 gpt Ag, 2.99 m grading 4.34 gpt Au and 26.8 gpt Ag and grading 2.00 m 3.98 gpt Au and 26.1 gpt Ag, respectively. The hole provided is designed to hit the extensions of these veins. (Please refer to the Company’s press release dated February 9, 2021)

Hokuryu

  • Up to four holes are designed as a first test drill of the Hokuryu vein system. Mining was undertaken at Hokuryu for a few years until it ceased abruptly in 1943. Recent controlled audio-magnetotelluric sources from Irving (“CSAMT”) The geophysical program identified a wide corridor of resistive rock, presumably silicified, extending well beyond the historic mine area. These initial holes will test selected areas along this corridor for vein extensions and new veins.
  • Considering the higher altitude in Hokuryu, the completion of this program depends on the weather. If the holes remain unfinished in 2021, Irving plans to complete this program as soon as possible in the spring of 2022.

Summary of Omu Sinter Drilling Results

Earlier this year, Irving completed a series of four diamond drill holes on the Omu Sinter target. Holes 21OMS-002 and 21OMS-004 tested an area underlain by a large expanse of silica agglomeration terrace in the southern part of this project area. Both holes encountered several long intervals of low grade gold and silver mineralization in bedded silica agglomerate and underlying highly silicified, often hydrothermal breccia rocks (see table below). Short intervals of higher grade mineralization were intersected. Remarkably, the mineralized rock extends from surface to a vertical depth of about 180 m (Figure 1). Although no high grade feed source has been encountered, Irving believes that the potential for such a structure is good given the remarkable strength of this system and the presence of shorter, higher grade intervals in the system. those holes. Irving plans to review this data and acquire additional structural data with the goal of identifying a potential feed structure prior to future drilling.

Summary of results from holes 21OMS-002 and 21OMS-004 at Omu Sinter

Hole From (m) To M) Length (m) Gold (gpt) Silver (gpt) Gold eq (gpt) Silver eq (gpt)
21OMS-002 15.11 23.80 8.69 0.23 6.33 0.32 22.9
31.50 37.80 6.30 0.46 8.49 0.58 41.6
48.50 53.13 4.63 0.25 5.43 0.33 23.4
61.47 165.60 104.13 0.23 15.13 0.44 31.7
including 61.47 61.79 0.32 3.13 60.00 3.96 285.4
and 90.00 92.50 2.50 1.45 28.22 1.84 132.6
and 110.00 113.40 3.40 0.26 62.93 1.13 81.7
181.50 224.00 42.50 0.18 11.33 0.34 24.3
21OMS-004 4.90 70.60 65.70 0.75 0.48 0.76 54.5
including 13.90 48.90 35.00 0.58 28.14 0.97 69.9
including 28.23 31.11 2.88 1.00 72.29 2.00 144.3
102.35 133.78 31.43 0.24 5.98 0.32 23.3
141.44 145.61 4.17 0.27 8.37 0.39 27.8
246.05 249.90 3.85 0.99 8.85 1.11 80.1
including 246.27 247.30 1.03 2.27 18.19 2.52 181.6
321.00 322.00 1.00 0.24 66.70 1.17 84.0
Eq Au (gpt) = Au (gpt) + Ag (gpt) / 72

Holes 21OMS-001 and 21OMS-003 tested CSAMT anomalies west and east of the Omu Sinter main trend, respectively. Although each hole encountered hydrothermally altered volcanic rocks, only anomalous values ​​of Au and Ag were found. Therefore, Irving believes that all of the mineralization at Omu Sinter is in the 1.2 km long north-south corridor now tested by several holes.

“Irving has planned an aggressive drilling program starting around September 1, 2021,” commented Dr. Quinton Hennigh, director and technical advisor to Irving. “Two rigs will be in service, one conducting high-grade vein follow-up drilling at Omui and a second undertaking an initial drilling at Hokuryu, a very large, untested high-grade vein target. We can’t wait to get back to work. At Omu Sinter, we have identified a remarkably large volume of mineralized and underlying sinter of intensely silicified and brecciated rocks in the southern part of this project area.Although of low grade, the strength and volume of the rock that was affected suggest that a nurturing structure is nearby. Maybe it’s in a direction we just haven’t explored. We plan to review this data and collect new data in the field to see if we can better define such a feed structure before future drilling.

All samples discussed in this press release are half-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. Out of range samples were analyzed by fire assay with gravity finish. The phased array were analyzed by mass spectrometry after four acid digestions. Irving staff are responsible for geologic logging and core sampling. The Au equivalent is calculated by adding Au (gpt) to Ag (gpt) / 72.

Quinton Hennigh (Ph.D., P.Geo.) Is the Qualified Person under National Instrument 43-101 responsible for, and having reviewed and approved, the technical information contained in this press release. Dr Hennigh is a technical advisor and director of Irving Resources Inc.

About Irving Resources Inc .:

Irving is a junior gold exploration company in Japan. Irving also has, through a subsidiary, a joint exploration agreement with the Japan Oil, Gas and Metals National Corporation (JOGMEC). JOGMEC is a government organization established under the law of Japan administered by the Ministry of Economy, Trade and Industry of Japan, and is responsible for the stable supply of various resources in Japan through the discovery significant economic deposits of base, precious and rare metals. .

Additional information is available on the Company’s website: www.IRVresources.com.

Akiko Levinson,
President, CEO and Director

Forward-looking information
Certain statements contained in this press release may contain forward-looking information within the meaning of Canadian securities laws, including, without limitation, statements as to when the results of drilling samples and activities were received. planned exploration. Forward-looking statements deal with future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from results. , future performance or achievements expressed or implied by the statements. These factors include, but are not limited to, the risks customary in the mineral resource exploration industry, the availability to Irving of sufficient liquidity to fund planned drilling and exploration activities, as well as the provision of services. by third parties.

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS COMMUNICATION.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5dc40814-bdca-41d7-bbcb-ad6280a0e2a4


        


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