Irving Resources {CSE: IRV]

The first two diamond drill holes completed at the Omui mine site, part of its 100% controlled Omu gold project, Hokkaido, Japan, have encountered high-grade gold-silver (Au-Ag) vein intercepts.

In addition, a recently completed deep hole at the Omui mine site has encountered multiple epithermal veins within the boiling zone at vertical depths of over 300 metres (m).

.

.

.

.

.

.

.

Irving Resources drills 12.1 m of 3.23 g/t AuEq at Omu

2019-12-17 07:19 ET – News Release

Ms. Akiko Levinson reports

.

IRVING RESOURCES FIRST DRILL HOLES AT OMUI MINE SITE RETURN HIGH-GRADE GOLD AND SILVER (AU-AG)

.

Irving Resources Inc.’s first two diamond drill holes completed at the Omui mine site, part of its 100-per-cent-controlled Omu gold project, Hokkaido, Japan, have encountered high-grade gold-silver (Au-Ag) vein intercepts. In addition, a recently completed deep hole at the Omui mine site has encountered multiple epithermal veins within the boiling zone at vertical depths of over 300 metres (m).

.

Omui mine site drilling highlights:

• The first two diamond drill holes completed at the Omui mine site, 19OMI-001 (oriented northwest at an inclination of 45 degrees) and 19OMI-002 (oriented south at an inclination of 50 degrees), have encountered high-grade Au-Ag vein mineralisation. Results are summarised in the attached table.

 

.

SUMMARY OF VEIN INTERCEPTS FROM HOLES 19OMI-001 AND 19OMI-002
                                                              
Hole         From     To  Length       Au        Ag      AuEq
               (m)    (m)     (m)    (g/t)     (g/t)     (g/t)

19OMI-001    5.30   6.30    1.00    19.25     27.50     19.57   
            45.92  47.00    1.08     4.38      6.15      4.45    
Including   45.92  46.50    0.58     6.34      8.52      6.44    
19OMI-002   46.40  58.50   12.10     1.58    139.90      3.23    
Including   54.70  56.50    1.80     6.05    808.18     15.56   
Including   55.55  55.88    0.33    28.90  4,180.00     78.08   
            67.00  68.00    1.00     1.04    326.68      4.88    
Including   67.00  67.19    0.19     3.46  1,195.00     17.52                             

.

Veins in both holes were intersected at shallow levels and, because Irving believes this area has seen limited erosion since vein formation approximately 12 million years ago, it is likely these formed within 100 m of the paleo-surface. This implies that these veins may result from leakage from a larger vein system at depth, an intriguing possibility given the very high grades encountered.

;

As discussed in the company’s news release dated Nov. 5, 2019, recent controlled-source audio-magnetotelluric (CSAMT) data gathered from Omui mine site indicates the presence of a broad, deep-rooted, northwest-trending electrically resistive zone underlying the target area. This feature is interpreted to be silicified rocks generated by hydrothermal activity. A recent study of hydrothermal fluid inclusions trapped in vein quartz from Omui indicates the top of the prospective boiling zone starts at around 380 m beneath the paleo-surface. Irving believes the most prospective target at Omui lies at depths of over 300 m below present surface along the CSAMT resistive zone.

.

As a first test of the CSAMT anomaly discussed above, Irving recently completed deep diamond drill hole 19OMI-010. This hole was oriented south at an inclination of 60 degrees and drilled to approximately 584 m. This hole encountered silicified volcanic rocks over its entire length. Multiple quartz veins were encountered. At depths shallower than 300 m, veins are dominated by low-temperature quartz; however, below this point, veins display strong indications of boiling including ubiquitous bladed calcite, a mineral deposited by boiling hot spring waters. Several such veins contain notable amounts of ginguro, or silver sulphosalts. Possible small grains of electrum, a natural gold-silver alloy, were observed in at least two veins. Irving is encouraged by observations from this hole.

.

Drilling at Omui mine site has ceased for the remainder of 2019 due to inclement weather, including heavy snow. A total of 10 holes were completed since early October, encompassing approximately 2,558 m. The drill has been relocated to Omu Sinter where it will resume drilling in January, 2020. Irving anticipates undertaking additional drilling at Omui mine site once snow melts in April or May. In the meantime, core is being logged, sawn and sampled. All core from the first 10 holes at Omui mine site is expected to be delivered to the ALS Global laboratory in Australia by year-end.

.

“We are excited by the high grades seen in our first two holes from Omui mine site,” commented Dr. Quinton Hennigh, director and technical adviser to Irving. “Given these intercepts occur high in the system, we think they bode well for the discovery of further high-grade veins within the boiling zone below. Our first deep hole, 19OMI-010, has intersected multiple veins displaying clear indications of boiling and provides us our first glimpse of the deeper part of the system at Omui. We eagerly await further assays from this exciting discovery at our Omu gold project.”

.

True widths of veins intercepts discussed in this news release cannot be estimated at this time. Further drilling is needed to accurately assess vein orientations.

.

All samples discussed in this news release are one-half split sawn diamond core samples. Irving submitted rock samples to ALS Global, Australia, 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 MS following three-acid digestion. Irving staff and staff from Mitsui Mineral Development Engineering Co. Ltd. (MINDECO) are responsible for geologic logging and sampling of core.

.

.

.