Vancouver, British Columbia – (Marketwired – January 22, 2018) – Irving Resources Inc. (CSE:IRV) (“Irving” or the “Company”) is pleased to announce it has received a full report on drone-based magnetic data from its 100% controlled Omu high-grade gold-silver project, Hokkaido, Japan. In mid 2017, Mitsui Mineral Development Engineering Co., Ltd. (MINDECO) developed a drone-based system, the first ever in Japan, capable of collecting detailed magnetic data at low altitude (Figures 1 and 2). Detailed magnetic surveys were conducted over two large parts of the Omu project by late 2017 (Figure 3). This program was part of Irving’s 2017 field program and was geared toward target generation in preparation for more advanced work including trenching and drilling in 2018.
At the Omu Sinter, a new hot spring gold target first identified by Irving in late 2016, magnetic data reveals a robust anomaly defined by notably diminished levels of magnetism (Figure 4). Hydrothermally altered volcanic rocks and silica sinter, the remains of an extinct hot spring system, underlie the area around this anomaly. Irving interprets diminished magnetism to reflect intense hydrothermal alteration associated with hot spring activity. Hot, potentially mineralizing, groundwater tends to destroy small particles of magnetite in volcanic rocks that otherwise give them a strong magnetic signature. Irving believes the pronounced 2 km long north-south trending magnetic low defined by this survey reflects an important fault structure along which potentially mineralizing fluids were focused. This anomaly closely matches a north-south gradient seen in gravity data (please see Irving’s news release dated December 6, 2017 for further details) that Irving interprets to be a major fault. Combined, magnetic and gravity data define a compelling, large drill target.
At the historic Omui mine, magnetic data reveals a complex network of features indicating a complex structural architecture underlying this area (Figure 5). A distinct 1 km long zone of anomalously low magnetism extends southeastward from the high-grade Honpi vein to the Nanko target reflecting a possible link between the two systems. Interestingly, this feature also parallels a gravity gradient trending through this area (please see Irving’s news release dated December 6, 2017 for further details) possibly a fault structures along which potentially mineralizing fluids ascended. Also noteworthy is a discrete magnetic high situated about 500 meters southwest of Nanko. Irving believes this area may be underlain by a rhyolite intrusion that may have driven the hydrothermal system at Omui.
“Our 2017 drone-based magnetic survey, the first such survey to be conducted in Japan, has generated clear anomalies that help explain the underlying structural architecture of the Omu sinter and Omui mine areas,” commented Dr. Quinton Hennigh, Technical Advisor and a director of Irving. “The anomalously low magnetism along these zones suggests they were conduits for potentially mineralizing hot spring fluids. Therefore, this data provides us exceptional resolution to help define future drill targets.”
MINDECO staff, under supervision of Irving personnel, collected and processed airborne magnetic data discussed in this news release.
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 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, Project Venture Agreements with Japan Oil, Gas and Metals National Corporation (JOGMEC) for joint regional exploration programs in the United Republic of Tanzania, the Republic of Malawi and the Republic of Madagascar. 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.
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(Figure 1: MINDECO exploration team and the drone-based magnetic survey system)
(Figure 2: Drone-based magnetic survey system)
(Figure 3: Map showing the location of the two drone-based magnetic surveys at Omu project)
(Figure 4: Plot of airborne magnetic data-residual magnetic intensity at the Omu Sinter)
(Figure 5: Plot of airborne magnetic data-analytic signal at the Omui historic mine site)