Irving Resources Inc. is pleased to announce it has received high grade gold and silver grade assays from surface samples recently collected at its 100%-controlled Omu gold-silver project, Hokkaido, Japan (Figures 1 and 2).
Omui Mining License
Exploration work at Omu is being undertaken by Mitsui Mineral Development Engineering Co., Ltd. (“MINDECO”) under the supervision of Irving personnel. At the Omui mine site and surrounding areas, detailed soil sampling on a 50x50 meter staggered grid is nearing completion. In the course of extracting soil samples, pieces of mineralized rock float are sometimes encountered and sampled.
At the Honpi (“Main Vein” in English) prospect, recent rock float samples have returned 186.5 gpt Au and 353 gpt Ag, 11.75 gpt Au and 71.1 gpt Ag, 6.77 gpt Au and 33.3 gpt Ag, and 5.27 gpt Au and 177 gpt Ag. In addition, a new vein was encountered in a hand dug trench and a chip channel sample returned 203 gpt Au and 5,310 gpt Ag over a true width of 0.8 m. Irving believes mineralized float material is derived from underlying weathered bedrock and that these new results indicate potential for multiple sub-parallel east-west trending veins across a 200-meter wide corridor surrounding Honpi.
At the Nanko prospect, recent rock float samples have greatly expanded the area of known mineralization. Notable samples include 691 gpt Au and 515 gpt Ag, 42.5 gpt Au and 539 gpt Ag, 3.98 gpt Au and 3.92 gpt Ag in areas south of Nanko. Northeast of Nanko, notable samples include 39.3 gpt Au and 20.2 gpt Ag, 16.55 gpt Au and 40.9 gpt Ag and 7.09 gpt Au and 10 gpt Ag. Like Honpi, Irving believes mineralized float material is derived from underlying weathered bedrock and that these results indicate potential for multiple sub-parallel east-west trending veins across a 350-meter wide corridor at Nanko.
While these assay results are encouraging, Irving is awaiting return of other data sets to more fully evaluate potential drill targets at Omui. Soil sampling is nearing completion, and analytical results are expected back over the next few weeks. A detailed gravity survey has recently been completed and data is currently being processed. Lastly, a detailed drone-based magnetic survey is soon to commence and should be completed by the end of October.
Late in 2016, Irving personnel discovered a large terrace of laminated silica sinter, remnants of a fossil hot spring, approximately 10 km north of Omui mine. In a news release dated December 15, 2016, Irving discussed the significance of one sample of sulfide-bearing silica (3.8 gpt Au and 14 gpt Ag) collected near the base of the terrace. Recently, a second sample of similar sulfide-bearing sinter was collected from the base of the terrace approximately 300 meters northeast of the previous sample (Figure 3). This new sample grades 14.6 gpt Au and 50.8 gpt Ag along with strongly elevated arsenic (676 ppm), mercury (>100 ppm), antimony (1,675 ppm) and selenium (93 ppm), all elements indicative of hot spring mineralization. Irving considers results encouraging and may indicate the structural feeder system for this hot spring may contain appreciable precious metals. Given this sinter terrace is at least 1 km along strike, very large for such a deposit, Irving considers the Omu sinter terrace a very important target.
Greater Omu Project Area
Cobbles of mineralized vein material were collected from several streams during stream sediment sampling. One noteworthy sample grading 5.12 gpt Au and 5 gpt Ag was collected from a stream approximately 5 km northwest of Omui mine area near a major northeast-trending structure extending from Hokuryu mine in the southwest to Omu sinter terrace in the northeast. This sample suggests further vein mineralization is present along this important structure. A second sample grading 5.54 gpt Au and 8 gpt Ag was taken from a 0.5 m wide outcropping vein exposed along a creek bank approximately 2 km southeast of Omui mine. Irving plans follow up sampling in both areas later this season.
With the exception of a chip channel sample collected near Honpi and the spot rock chip samples collected at the Omu sinter terrace and the outcropping vein southeast of Omui, all samples discussed in this news release are taken from pieces of float or stream cobbles. 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 MS 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.