April 22, 2019
Vancouver, British Columbia, April 22, 2019 – (Globe Newswire) – Irving Resources Inc. (CSE:IRV) (“Irving” or the “Company”) is pleased to provide an update on drilling at its 100%-controlled Omu Gold Project in Hokkaido, Japan. To date, approximately 786 meters of diamond core drilling have been completed in two holes at Omu Sinter (also known as Otoineppu Mine). A plan map and cross section are presented in Figures 1 and 2. Highlights are discussed below.
- Hole 19OMS-001, oriented northwest with an inclination of -45 degrees, reached a depth of 515 meters (photographs of core from 19OMS-001 will be available on Irving’s website later today).
- Rhyolite and lesser andesite and volcaniclastic intervals were encountered. Rhyolite commonly displays flow-banding and spherulitic textures.
- Oxidation persists to 76.5 m.
- Hydrothermal alteration includes: intense silicification (top of bedrock to 49 m), mixed intense silicification and intense clay alteration (49-91 m), moderate clay alteration and/or silicification (91-227 m), weak to moderate clay alteration and/or silicification (238-327 m and 334-370 m) and moderate to strong clay alteration and/or silicification (370-515 m, end of hole).
- Notable zones of disseminated and/or veinlet sulfide (pyrite) mineralization include: relict (top of bedrock to 76.5 m), weak to moderate (76.5-88 m), moderate to heavy (88-119 m), weak to moderate (119-210 m), moderate (210-227 m), weak to moderate (238-327 m), weak to moderate (334-359 m), moderate to heavy (359-467 m), weak (467- 479 m) and moderate to heavy (479-515 m, end of hole).
- Hole 19OMS-001 tested the full width of the targeted N-S-trending magnetic low at Omu Sinter. The persistent nature of alteration, silicification and sulfide mineralization in this hole confirms the presence of a significant hydrothermal system measuring at least 350 m wide. Irving believes the intense silicification and clay alteration at the top of this hole represents a high level expression of a feeder system at depth. Hole 19OMS-002, currently in progress, is testing deeper parts of this area.
- Several small, but significant silica-pyrite veins present near the end of hole 19OMS-001 might suggest proximity to a feeder in this area. Given the length and increasing cost of this hole, the decision was made to further drill test this area from a different vantage at a later date.
- Hole 19OMS-002, collared 210 northwest of hole 19OMS-001 and oriented southeast with an inclination of -60 degrees, is currently in progress at a depth of approximately 271 m. This hole is designed to test deeper areas under a zone of intense silicification and clay alteration encountered in hole 19OMS-001 (photographs of core from 19OMS-002 to a depth of 264.5 m will be available later today).
- Like hole 19OMS-001, rhyolite is the predominant rock type.
- Oxidation persists from the top of bedrock to 19.5 m.
- Hydrothermal alteration includes: moderate to strong silicification and/or clay alteration (top of bedrock to 116.5 m), strong to intense silicification and lesser clay alteration (116.5-172 m), moderate to strong clay alteration and/or silicification (172-182.5 m), strong to intense silicification and/or clay alteration (182.5-271 m, current depth of hole).
- Notable zones of disseminated and/or veinlet sulfide (pyrite) mineralization include: relict (top of bedrock to 19.5 m), weak to moderate (19.5-129 m), moderate to heavy (129-169 m), weak to moderate (169-182.5 m), moderate to heavy (182.5-271 m, current depth of hole).
- Several narrow intervals of banded quartz vein occur between 185-189.5 m (see Figures 3, 4 and 5). Some dark grey bands display appreciable sulfide minerals, although too fine grained to identify. The Japanese term “ginguro” is commonly used to describe banded quartz-sulfide epithermal veins. At present, exact orientation of these veins and their true thickness are unknown. Broken fragments of vein material sporadically occur within the interval from 189.5-271 m, current depth of hole.
- Irving believes the zone of silicification and sulfide mineralization beginning at 182.5 m and continuing to the present end of hole may be a significant feeder zone to the Omu Sinter.
Drilling at Omu Sinter is expected to continue over the next few weeks. Eight holes are planned as a first test. Beyond the initial eight holes, fifteen additional drill holes have been permitted within the target area. Logging and sawing of core is underway. Because there are no rock sample preparation laboratories in Japan, all drill samples must be shipped overseas for processing resulting in additional time required to generate assays. Irving will provide further updates on progress throughout the drill program.
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) for joint regional exploration programs in the 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 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.
President & Director
For further information, please contact:
Tel: (604) 682-3234 Toll free: 1 (888) 242-3234 Fax: (604) 641-1214
Some statements in this news release may contain forward-looking information within the meaning of Canadian securities legislation. 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 as well as Irving having sufficient cash to fund any planned drilling and other exploration activities.
THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
(Figure 1: Plan map showing drill holes 19OMS-001 and 19OMS-002)
(Figure 2: Cross section showing drill holes 19OMS-001 and 19OMS-002)
(Figure 3: Banded quartz-sulfide vein from approximately 185 m in hole 19OMS-002)
(Figure 4: Banded quartz-sulfide vein from approximately 187 m in hole 19OMS-002)
(Figure 5: Banded quartz-sulfide vein from approximately187.7 m in hole 19OMS-002)
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