December 13, 2016
Vancouver, British Columbia – (Marketwired – December 13, 2016) – Irving Resources Inc. (CSE:IRV) (“Irving” or the “Company”) is pleased to announce it has received high-grade assays from surface samples recently collected at its newly acquired, 100%-controlled Omui gold-silver project, Hokkaido, Japan. As detailed in a news release dated October 17, 2016, reconnaissance sampling focused on areas around the historic Omui and Hokuryu mines where high-grade epithermal Au-Ag veins were exploited prior to World War II. Irving staff with assistance from personnel from Mitsui Mineral Development Engineering Co., Ltd. (“MINDECO”) collected 130 rock chip samples.
At the Honpi (“Main Vein” in English) occurrence, rock chip samples collected from float boulders of vein material returned exceptional assays including 480 gpt gold (“Au”) and 9,660 gpt silver (“Ag”), 143.5 gpt Au and 2,090 gpt Ag, 67.6 gpt Au and 1,060 gpt Ag, 55.6 gpt Au and 290 gpt Ag, and 48.2 gpt Au and 1,030 gpt Ag (See Figures 1 and 2). A further 14 samples assayed >10 gpt Au and 13 samples assayed >200 gpt Ag.
Many high grade samples originate from areas north of the Main Vein. The Main Vein is an E-W trending epithermal quartz vein that was exploited during the 1920’s by a 70 m deep shaft and four working levels including several stopes, now collapsed to surface. Approximately 0.4 tonne of Au and 9 tonnes of Ag were mined at Omui during that time. Irving believes the boulders it sampled originate from subcropping veins that were neither recognized nor exploited during that early period of mining. Further work including drilling is needed to evaluate this possibility.
At Nanko, approximately one km south of Honpi, Irving collected float and subcrop samples of siliceous material thought to be sinter, a hard material deposited from hydrothermal fluids in shallow hot spring pools. Sinter typically contains low level gold whereas fractures, or feeders, below hot springs can host high grade gold, deposited there by boiling fluids. Most samples of sinter from Nanko are anomalous in Au up to 1 gpt. Two samples of breccia contain notable high grades, 29.6 gpt Au and 73.8 gpt Ag, and 21.2 gpt Au and 154 gpt Ag, respectively. These high-grade samples appear to originate from subcropping feeder structures that may indicate the presence of high grades at depth.Further work including drilling is needed to test this potential.
Four select samples of vein material collected from a mine dump adjacent to the uppermost workings of the Hokuryu mine returned 58.9 gpt Au and 495 gpt Ag, 51.4 gpt Au and 637 gpt Ag, 37.0 gpt Au and 378 gpt Ag, and 22.8 gpt Au and 321 gpt Ag. Another two select samples of vein material from the main Hokuryu mine dump assayed 31.4 gpt Au and 201 gpt Ag, and 11.4 gpt Au and 38.2 gpt Ag. One sample of silicified and pyritized rhyolite wallrock taken from the main dump assayed 2.2 gpt Au and 245 gpt Ag.
Hokuryu mine produced approximately 2.8 tonnes Au and 11.5 tonnes Ag prior to 1943 when it was abruptly closed due to the Gold Mine Closure Act near the end of World War II. Irving thinks exploration potential around Hokuryu is very good, particularly along a major NE-trending graben-bounding fault that extends about 12 km to the coast. Irving has recently discovered new, extensive sinter deposits along this structure. Such sinter indicates this fault was a focus for hydrothermal activity.
High-grade samples from Omui and Hokuryu are predominantly comprised of silica with less than 100 ppm arsenic (“As”) and antimony (“Sb”) and less than 0.02% sulfur (“S”). Because of the clean, high-silica nature of this material, it could potentially be used as smelter flux in many of the base metal smelters throughout Japan. In smelters, recovery of precious metals occurs during the smelting and refining process. As an example, Sumitomo Metal Mining Co., Ltd. treats ores from its high grade Hishikari epithermal vein deposit by utilizing them as smelter flux in its copper smelter.Irving is focused on identifying similar high-silica, high-grade epithermal vein deposits in Japan.
All samples discussed in this news release are “spot” samples taken from boulders of float, subcropping rock, or historic mining dumps. They are not necessarily representative. Irving submitted rock samples to ALS Laboratory, Vancouver, BC, for analysis. Au and Ag were analyzed by fire assay with gravimetric finish. Multi-elements were analyzed by mass spectrometry following three acid digestion.
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 searching for opportunities in certain countries, including Japan.Irving also holds, through a subsidiary, three Project Venture Agreements with 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.
President & Director
For further information, please contact:
Tel: (604) 682-3234Toll free: 1 (888) 242-3234Fax: (604) 682-0537
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: Gold assays from 2016 surface rock chip samples.)