|October 19, 2018|
Vancouver, British Columbia, October 19, 2018 (Globe Newswire) – Irving Resources Inc. (CSE:IRV) (“Irving” or the “Company”) is pleased to report it has sampled high-grade quartz vein float at its 100%-controlled Omu gold-silver project, Hokkaido, Japan (Figures 1, 2 and 3).
While following up stream sediment anomalies (please refer to Irving’s news release dated January 3, 2018 for further details), Irving geologists identified banded quartz vein and other pieces of mineralized float along recently constructed logging roads in areas around the historic Hokuryu mine. Logging roads often provide the only geologic exposure in this heavily vegetated terrain. Inquiries made by Irving with the Hokkaido prefectural forestry agency and local logging road constructors confirm no exotic material was placed on these roads and all road base material is locally derived. Therefore, Irving believes quartz vein float material reported in this news release is derived from nearby bedrock.
Samples of quartz vein float collected along a one-kilometer long west-northwesterly trend beginning approximately 700 meters west of Hokuryu mine are particularly noteworthy. Results include:
Quartz vein float samples from Hokuryu West-
In addition, Irving geologists collected seven samples of variably altered and silicified volcanic rock and breccia with gold values ranging from 0.14-0.53 gpt and silver values ranging from 3-19 gpt.
Irving believes the “West Hokuryu” area may host extensions of the Hokuryu vein system. Hokuryu mine, owned by Nihon Mining Company, Ltd., operated briefly beginning in around 1928 until it was shut in 1943 due to the Gold Mine Closure Act near the end of WWII. It produced approximately 2.8 tonnes Au and 11.5 tonnes Ag during its short life. (MMIJ. 1990. Japanese Gold Mines Vol. 2 Hokkaido. The Mining and Materials Processing Institute of Japan (MMIJ)).
In an area approximately 2.5 km southwest of Hokuryu mine, a sample of quartz vein float returned 20.8 gpt Au and 59 gpt Ag and two samples of silicified and quartz-veined volcanic rock returned 1.78 and 0.68 gpt Au and 19 and 24 gpt Ag. One sample of quartz vein float collected approximately one km northeast of Hokuryu mine returned 7.14 gpt Au and 41 gpt Ag. Six samples of variably silicified and quartz-veined volcanic rocks from areas north, northeast and east of Hokuryu mine returned 0.03-2.50 gpt Au and 0.5-57 gpt Ag. Samples discussed above are of select float and not necessarily representative of mineralization in this area.
Irving is currently conducting further prospecting in vicinities around Hokuryu mine and to the north where there are historic reports of high-grade veins. Follow-up soil sampling and geophysical work is currently being planned at Hokuryu West.
“We are encouraged by results from select float samples collected around the historic Hokuryu mine,” commented Akiko Levinson, President and Director of Irving Resources Inc. “Right now, we are conducting further prospecting, sampling and baseline soil sampling at Hokuryu West. Next season, we plan to conduct more advanced exploration including soil sampling and geophysical work similar to that done at our Omui mine and Omu sinter target areas.”
Drill contract signed
Irving recently signed a diamond drilling contract with Rodren Drilling Ltd., Winnipeg, Manitoba (“Rodren”), to undertake diamond drilling at its Omu project. A diamond drill is currently being mobilized to Hokkaido and is expected to reach Omu in approximately two weeks. Although necessary permits are still awaited, Irving, Mitsui Mineral Development Engineering Co., Ltd. (MINDECO) and Rodren are concurrently working on necessary staffing for a drill program. Further information about timing of commencement of drilling will be made available when more information is in hand.
All samples discussed in this news release were collected by Irving geologists from float, loose rock in soil, believed derived from subcropping bedrock and veins. 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. Multielements were analyzed by mass spectrometry following three acid digestion. Lab standard and blank samples were utilized for quality assurance and control.
Quinton Hennigh (Ph.D., P.Geo.) is the Qualified Person pursuant to National Instrument 43-101 responsible for, and having reviewed and verified, 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, 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.
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.
(Figure 1: Map showing the location of recently sampled areas around the historic Hokuryu mine.)
Figure 2: Gold assays from recently collected float samples around the historic Hokuryu mine. A one-kilometer long west-northwest trend of high-grade quartz vein samples is particularly noteworthy and may represent a significant extension of the Hokuryu vein network.)
(Figure 3: Silver assays from recently collected float samples around the historic Hokuryu mine. A one-kilometer long west-northwest trend of high-grade quartz vein samples is particularly noteworthy and may represent a significant extension of the Hokuryu vein network.)