Ms. Akiko Levinson reports
IRVING RESOURCES FURTHER DEFINES GOLD SYSTEM AT OMU SINTER
Irving Resources Inc. has provided an update on drilling and loop electromagnetic (EM) surveys at its 100-per-cent-controlled Omu gold project in Hokkaido, Japan.
Highlights:
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Assays from hole 19OMS-002 show continuous gold and silver mineralization over 152 metres, including multiple significant vein and vein breccia zones.
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Two phases of mineralization are evident at Omu Sinter -- an early silver-rich phase and a later gold-rich phase.
Recent data indicate the boiling zone lies at approximately 380 metres below surface. Irving believes regions at or below this level are most prospective for high-grade gold mineralization and is making plans to drill test this deeper level.
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Holes 19OMS-004 and 19OMS-005 intercept veins displaying similar sulphide assemblages to those seen in the high-grade vein encountered in hole 19OMS-002. Of particular note is an approximately 7.5-metre-long intercept of such vein material intercepted in hole 19OMS-005.
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Possible Mesozoic basement sedimentary rocks encountered in hole 19OMS-003 give rise to a potential Hishikari-like geologic setting at Omu Sinter.
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The recent ground loop EM survey shows a detailed picture of structure and stratigraphy at Omu Sinter, further helping define the high-grade target.
Discussion
Assays have returned for hole 19OMS-002 from 182.0 metres to the end of the hole at 421.2 metres. Assays from the upper part of this hole are expected back soon. Continuous gold and silver mineralization occurs between 182.0 metres and a major fault zone encountered at 334.05 metres (refer to attached table of assays). In addition to the high-grade vein encountered between 184.93 metres to 185.72 metres (48.96 grams per tonne gold and 945.4 grams per tonne silver; as discussed in the company's news release dated May 6, 2019), 16 significant vein and vein breccia zones were encountered (highlighted in the attached table of assays).
Irving believes there were two phases of mineralization at Omu Sinter -- an early silver-rich phase followed by a later gold-rich phase. Vein material associated with the early silver-rich phase typically displays banded white quartz, along with thin seams of black, silver-bearing sulphide minerals termed ginguro. Where high gold values are present, bands of pyrite and/or marcasite are present in and around quartz veins. Holes 19OMS-004 and 19OMS-005, both recently completed, encountered intervals of banded veins displaying pyrite and marcasite as well as multiple vein intervals displaying ginguro. Of particular note is a nearly 7.5-metre-long interval of quartz-pyrite-marcasite vein material intercepted in hole 19OMS-005 beginning at approximately 334 metres. Parts of hole 19OMS-004 have been split, sampled and shipped to the laboratory for assay. Splitting and sampling of hole 19OMS-005 are currently under way.
Many veins encountered in holes 19OMS-002 are notably brecciated, with vein fragments floating in intensely clay altered volcanic rock. Intense clay alteration is widespread in shallow portions of the Omu Sinter hydrothermal system as it is in most hot spring epithermal deposits. Irving believes such vein brecciation formed when movement occurred along the principal fault during mineralization, causing ductile clay to deform, thus breaking apart newly formed veins. Because this movement appears to have occurred during early stages of mineralization, many of the vein and vein breccias encountered in hole 19OMS-002 display high silver-to-gold ratios, especially proximal to the principal fault. Irving believes breakage of these veins disconnected them from the underlying plumbing system before the main gold depositional phase. Irving therefore believes that veins deeper in the system, where rocks are more silicified and less clay altered, will potentially host high-grade mineralization like that seen between 184.93 metres and 185.72 metres in hole 19OMS-002. Evidence of this is already apparent in veins encountered in holes 19OMS-004 and 19OMS-005 as discussed herein.
A recently completed study of high-grade gold-silver mineralization at the nearby Omui mine, sponsored by Irving, found evidence of boiling beginning at depths of about 380 metres. The boiling horizon is generally considered the most favourable site of gold and silver deposition in a hot spring system, thus making it the most prospective target in an epithermal vein. Assuming a similar boiling depth at Omu Sinter, Irving's current drill holes fall short of targeting this important regime. Irving is currently looking at readjusting drill pads farther away from the target area to better test veins in regions up to 400 metres below the approximately 380-metre-deep boiling zone. It is expected that angle holes will need to reach depths of 700 metres to 900 metres to adequately test the boiling horizon. The company is making plans to ship PQ drill pipe (85-millimetre inside diameter) to Omu so that deeper holes can be drilled. Irving's drill contractor currently utilizes HQ drill pipe (63.5-millimetre inside diameter). Irving plans to drill PQ-diameter holes to depths of 300 metres to 500 metres, then use the PQ pipe as casing so that holes can be completed with HQ-diameter drill pipe. PQ-diameter drill pipe will reach Omu in July.
A review of core from hole 19OMS-003 has led to an important discovery. Black rocks at the end of this hole appear to be mudstone and siltstone belonging to the Mesozoic basement. Vertical depth to these rocks is about 350 metres, very close to the projected level of boiling discussed herein. At the world-class Hishikari gold deposit in Kyushu, Japan, most veins are hosted by mudstone and siltstone belonging to the Mesozoic basement immediately below Tertiary volcanic rocks. The position of boiling coincident with the basement unconformity at Hishikari appears to have been a critical factor in generating its extensive vein system and very high grades. Irving is excited by the prospect that prospective basement host rocks might underlay the target area at Omu Sinter.
A loop EM survey was recently completed by Mitsui Mineral Development Engineering Co. Ltd. (MINDECO) at Omu Sinter, revealing further evidence that basement rocks may underlie the target area as well as providing a very clear picture of the underlying structural architecture that hosts the Omu hydrothermal plumbing system. Of particular note, a near-vertical, highly resistive feature projects to depths of over 1,200 metres. The western shoulder of this feature is coincident with the principal fault that transects the region and has been repeatedly intersected in Irving's drill holes. Irving can now envision, with great precision, a high-grade target zone encompassing the hangingwall of the principal fault and extending several hundred metres below the boiling zone lithologic unconformity.
Since the last update (please refer to the company's news release dated May 22, 2019), Irving has completed hole 19OMS-004 to a depth of 312.1 metres. This hole abruptly terminated in the mineralized zone when the drill rods became lodged in broken rock. The visual appearance of core from hole 19OMS-004 is similar to that seen in hole 19OMS-002, not surprising given both holes test the same respective level in the system. Hole 19OMS-005 was drilled to 383.0 metres from the same pad and at the same azimuth as hole 19OMS-004, but at a steeper angle (minus 68 degrees rather than minus 60 degrees). Interestingly, core from hole 19OMS-005 displays a notable increase in silicification and decrease in brecciation of veins. Pyrite and marcasite are generally more abundant in veins, especially between approximately 330 metres and 350 metres.
"We have made huge strides in understanding Omu Sinter over the past few weeks," commented Dr. Quinton Hennigh, director and technical adviser to Irving Resources. "The high-grade vein we encountered in hole 19OMS-002 is giving us a glimpse of what might lie at deeper levels. The hydrothermal system appears to have been dynamic having been punctuated by fault movement after an early, silver-rich depositional phase. Later, gold-rich mineralization appears to have been unable to exploit the broken vein network proximal to the principal fault. Because of this, we believe this might bode well for discovery of further high-grade gold trapped at depth. This hypothesis is further supported by new knowledge that boiling likely took place at depths of around 380 metres and below. A notable 7.5-metre-long interval of pyrite- and marcasite-rich veining, recently encountered in hole 19OMS-005, may prove to be the first glimpse of this critical regime. Perhaps most exciting of all, we see potential evidence that Mesozoic basement rocks underlie the target area. This paints a picture of geology similar to that seen at Hishikari where a vast, high-grade vein network exploits fissures in Mesozoic basement rocks below the unconformity with overlying Tertiary volcanic rocks. Exploration is an iterative process that requires constant consideration of incoming data to better direct future work. Irving has refined the target at Omu Sinter and is currently making plans to aggressively drill test deeper levels of the system."
All samples discussed in this news release are one-half split sawn diamond core samples. Irving submitted rock samples to ALS Global in Australia for analysis. Gold and silver were analyzed by fire assay with MS finish. Overlimit samples were assayed by fire assay with gravimetric finish. Multielements were analyzed by MS following three-acid digestion. Irving staff and MINDECO staff are responsible for geologic logging and sampling of core.
Dr. Quinton Hennigh, PhD, PGeo, is the qualified person pursuant to National Instrument 43-101 responsible for, and has reviewed and approved, the technical information contained in this news release. Dr. Hennigh is a technical adviser and director of Irving Resources.
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 Corp. (JOGMEC) for joint regional exploration programs in Republic of Malawi.
COMPLETE LIST OF ASSAYS FROM HOLE 19OMS-002 BEGINNING
AT 182 METRES TO A MAJOR FAULT ZONE AT 334.05 METRES
Hole From To Au Ag AuEq Ag:Au
(m) (m) (g/t) (g/t) (g/t)
19OMS-002 182.00 182.35 0.03 1.0 0.04 40
182.35 182.93 0.26 8.0 0.35 31
182.93 183.75 0.57 13.0 0.72 23
183.75 184.39 0.95 18.0 1.16 19
184.39 184.93 1.70 35.0 2.11 21
184.93 185.25 118.50 1410.0 135.09 12
185.25 185.72 1.61 629.0 9.01 391
Weighted average 184.93 185.72 48.96 945.4 60.08 19
185.72 186.50 0.24 6.0 0.31 25
186.50 186.96 0.48 9.0 0.59 19
186.96 187.08 0.59 37.0 1.03 63
187.08 187.69 0.31 5.0 0.37 16
187.69 187.84 0.57 18.0 0.78 32
187.84 188.15 0.81 22.0 1.07 27
188.15 188.25 1.75 38.0 2.20 22
188.25 188.82 0.61 19.0 0.83 31
188.82 189.50 0.88 17.0 1.08 19
189.50 189.90 0.61 10.2 0.72 17
189.90 191.00 0.21 5.3 0.27 26
191.00 191.42 1.68 35.2 2.09 21
191.42 191.92 1.23 23.1 1.50 19
191.92 192.50 0.31 10.4 0.44 33
192.50 193.20 0.41 8.4 0.51 20
193.20 193.80 0.63 12.6 0.78 20
193.80 194.00 0.20 5.9 0.27 30
194.00 194.35 0.24 5.4 0.30 22
194.35 195.25 0.16 5.4 0.22 34
195.25 196.15 0.57 18.7 0.79 33
196.15 197.00 1.24 17.4 1.44 14
197.00 197.33 1.48 14.1 1.65 9
197.33 197.73 1.37 23.1 1.64 17
197.73 198.55 0.23 4.7 0.28 21
198.55 199.50 0.29 7.8 0.39 27
199.50 199.80 0.41 12.7 0.56 31
199.80 200.80 0.36 10.5 0.49 29
200.80 201.50 0.17 2.7 0.20 16
201.50 202.50 0.42 4.5 0.48 11
202.50 203.10 0.77 17.3 0.97 23
203.10 203.67 0.31 31.8 0.68 104
203.67 203.94 0.16 4.8 0.22 30
203.94 204.70 0.43 14.2 0.59 33
204.70 205.70 0.41 16.2 0.60 40
205.70 206.12 0.07 3.2 0.10 48
206.12 206.62 2.07 28.7 2.41 14
206.62 206.92 4.76 111.0 6.07 23
206.92 207.40 0.28 5.8 0.34 21
207.40 208.20 0.24 6.0 0.31 25
208.20 208.70 0.34 7.2 0.42 21
208.70 209.30 0.33 8.5 0.43 26
209.30 209.62 0.72 12.8 0.87 18
209.62 210.42 0.43 9.7 0.54 23
210.42 211.02 0.20 8.2 0.30 41
211.02 211.40 0.30 10.8 0.43 36
211.40 212.00 0.48 9.5 0.59 20
212.00 212.56 0.19 5.5 0.25 29
212.56 213.12 0.46 14.6 0.63 32
213.12 213.68 0.23 7.8 0.32 34
213.68 214.24 0.33 6.9 0.41 21
214.24 214.80 0.14 4.9 0.20 36
214.80 215.80 1.05 48.9 1.63 47
215.80 216.80 0.22 8.9 0.32 41
216.80 217.90 0.16 5.1 0.22 32
217.90 218.80 0.47 16.1 0.66 34
218.80 219.80 0.16 8.8 0.26 56
219.80 220.00 0.07 1.7 0.09 23
220.00 221.00 0.19 5.2 0.25 28
221.00 221.76 0.84 19.3 1.07 23
221.76 222.52 0.43 17.2 0.63 40
222.52 223.30 1.19 32.9 1.58 28
223.30 223.90 0.83 33.8 1.22 41
223.90 224.62 0.12 13.7 0.28 114
224.62 225.06 0.22 30.4 0.58 138
225.06 225.66 0.18 13.5 0.34 75
225.66 225.86 0.29 100.0 1.47 341
225.86 226.20 0.20 47.8 0.76 244
226.20 226.70 0.15 9.5 0.26 62
226.70 227.66 0.17 15.4 0.35 93
227.66 228.35 0.53 16.2 0.72 30
228.35 229.03 0.35 13.4 0.51 38
229.03 229.46 0.92 20.1 1.16 22
229.46 230.00 0.09 4.3 0.14 49
230.00 230.90 0.06 6.9 0.15 108
230.90 231.90 1.21 60.9 1.93 50
231.90 232.90 1.58 43.4 2.09 27
232.90 233.45 1.35 12.8 1.50 9
233.45 233.95 0.77 12.6 0.91 16
233.95 234.95 2.10 21.1 2.35 10
234.95 235.40 0.41 11.5 0.55 28
235.40 235.80 0.23 7.3 0.32 32
235.80 236.80 1.29 22.7 1.56 18
236.80 237.50 0.19 9.2 0.30 49
237.50 237.60 No sample
237.60 238.20 0.28 11.5 0.41 41
238.20 239.00 0.45 19.9 0.68 44
239.00 239.70 0.25 23.7 0.53 94
239.70 240.50 0.24 15.2 0.42 63
240.50 241.05 1.27 23.9 1.55 19
241.05 242.00 0.56 16.7 0.75 30
242.00 242.80 1.87 80.8 2.82 43
242.80 243.80 1.30 30.0 1.65 23
243.80 244.70 0.11 3.8 0.15 35
244.70 245.10 0.20 8.9 0.30 46
245.10 245.55 2.35 38.8 2.81 17
245.55 246.50 0.91 10.4 1.03 11
246.50 247.50 0.91 15.6 1.10 17
247.50 248.50 0.31 7.2 0.39 23
248.50 249.40 0.72 18.7 0.94 26
249.40 250.40 0.98 85.7 1.99 87
250.40 251.10 0.42 9.4 0.53 23
251.10 251.60 0.81 39.2 1.27 49
251.60 252.26 0.48 16.2 0.67 34
252.26 253.13 0.29 8.8 0.39 30
253.13 254.00 0.23 5.2 0.29 23
254.00 254.30 0.29 6.8 0.37 23
254.30 254.60 0.56 8.2 0.65 15
254.60 255.27 0.42 10.2 0.54 24
255.27 255.93 0.18 6.7 0.26 37
255.93 256.23 0.39 20.1 0.62 52
256.23 257.00 0.45 10.2 0.57 23
257.00 257.70 0.21 3.5 0.25 17
257.70 258.50 1.24 33.0 1.63 27
258.50 258.93 0.75 16.6 0.95 22
258.93 260.00 0.82 26.4 1.13 32
260.00 260.80 0.59 52.8 1.22 89
260.80 261.65 0.69 15.1 0.87 22
261.65 262.65 0.58 7.6 0.67 13
262.65 263.65 0.30 15.7 0.48 53
263.65 264.65 0.73 17.4 0.93 24
264.65 265.30 0.26 6.5 0.33 26
265.30 265.93 0.32 12.7 0.47 39
265.93 266.85 0.33 27.2 0.65 82
266.85 267.50 0.32 16.8 0.52 52
267.50 268.25 0.72 18.8 0.94 26
268.25 269.00 1.71 24.2 1.99 14
269.00 269.95 0.23 7.9 0.33 34
269.95 270.15 0.67 28.0 1.00 42
270.15 270.50 0.33 8.0 0.42 25
270.50 271.30 0.60 21.5 0.85 36
271.30 271.50 0.17 9.5 0.28 57
271.50 272.00 0.29 19.1 0.51 67
272.00 272.70 1.34 45.0 1.87 34
272.70 273.40 0.94 30.7 1.30 33
273.40 274.00 0.74 23.2 1.01 31
274.00 274.60 1.55 48.7 2.12 31
274.60 275.60 1.25 63.2 1.99 51
275.60 276.50 0.34 12.6 0.48 37
276.50 277.10 0.19 7.7 0.28 41
277.10 277.80 0.18 8.8 0.29 48
277.80 278.60 0.24 9.2 0.35 39
278.60 279.65 0.15 10.6 0.27 73
279.65 280.70 0.64 21.8 0.90 34
280.70 281.60 0.34 31.6 0.71 93
281.60 281.80 2.30 268.0 5.45 117
281.80 282.80 1.21 43.3 1.72 36
282.80 283.80 3.21 28.8 3.55 9
Weighted average 182.00 283.80 1.01 26.5 1.32 26
283.80 284.80 0.18 31.8 0.55 181
284.80 285.80 0.33 10.1 0.45 31
285.80 286.80 0.46 14.9 0.63 33
286.80 287.80 0.42 16.0 0.60 39
287.80 288.80 0.13 3.7 0.18 28
288.80 289.80 0.09 2.5 0.12 27
289.80 290.80 0.31 10.0 0.42 32
290.80 291.80 0.04 1.5 0.05 43
291.80 292.80 0.07 3.1 0.10 48
292.80 293.80 0.10 3.5 0.14 36
293.80 294.40 0.20 12.0 0.34 60
294.40 294.90 0.16 6.7 0.24 42
294.90 295.10 0.51 34.8 0.92 69
295.10 295.80 0.23 12.5 0.38 53
295.80 296.80 0.26 11.2 0.39 44
296.80 297.70 0.13 5.5 0.20 42
297.70 298.60 0.15 7.1 0.23 49
298.60 298.80 0.13 7.8 0.23 59
298.80 299.00 0.33 21.2 0.58 64
299.00 300.00 0.55 16.2 0.74 29
300.00 301.00 0.18 10.5 0.31 57
301.00 302.00 0.30 8.3 0.39 28
302.00 303.00 0.28 7.8 0.37 28
303.00 303.95 0.14 7.7 0.23 56
303.95 304.50 0.20 9.9 0.31 51
304.50 305.17 0.11 8.5 0.21 79
305.17 305.37 0.23 12.4 0.37 55
305.37 305.70 0.19 8.2 0.28 44
305.70 306.40 0.29 24.4 0.58 83
306.40 307.10 0.23 14.0 0.39 61
307.10 308.10 0.27 24.4 0.56 90
308.10 309.20 0.20 24.6 0.49 122
309.20 310.20 0.49 20.5 0.74 41
310.20 311.00 0.37 14.7 0.54 40
311.00 312.00 0.19 30.3 0.54 163
312.00 313.00 0.15 8.3 0.25 54
313.00 314.00 1.65 16.1 1.84 10
314.00 315.00 0.18 35.1 0.59 198
315.00 315.90 0.18 28.8 0.52 157
315.90 316.55 0.41 61.8 1.14 149
316.55 317.40 0.21 18.7 0.43 88
317.40 318.25 0.20 15.3 0.38 77
318.25 318.26 0.35 30.8 0.71 89
318.26 318.70 0.22 11.4 0.35 53
318.70 319.50 0.16 23.8 0.44 152
319.50 319.70 No sample
319.70 320.50 0.15 7.3 0.24 48
320.50 321.30 0.25 12.0 0.39 48
321.30 322.20 0.12 11.0 0.25 90
322.20 323.20 0.12 9.2 0.23 78
323.20 324.02 0.08 9.0 0.18 117
324.02 324.50 0.25 11.3 0.38 45
324.50 325.37 0.16 8.5 0.26 52
325.37 326.37 0.50 21.7 0.75 44
326.37 327.37 0.41 23.3 0.68 57
327.37 327.87 0.14 13.2 0.30 94
327.87 328.28 0.19 12.4 0.33 67
328.28 328.69 0.63 31.2 1.00 50
328.69 329.10 0.24 12.6 0.39 52
329.10 329.50 0.18 19.1 0.40 107
329.50 330.50 0.05 5.5 0.12 106
330.50 331.02 0.13 10.4 0.25 83
331.02 331.50 0.28 12.7 0.43 46
331.50 332.00 0.17 5.0 0.23 29
332.00 333.00 0.10 3.4 0.14 35
333.00 333.10 0.53 12.6 0.68 24
333.10 333.50 0.09 3.8 0.14 40
333.50 334.00 0.03 1.0 0.04 31
334.00 334.05 0.43 13.2 0.59 30
Weighted average 182.00 334.05 0.76 22.4 1.02 29
Notes:
Assays to end of hole at 421.2 metres have no appreciable gold or silver values.
AuEq was calculated by the formula: Au (g/t) plus (Ag (g/t) divided by 85).
Intervals of no sample were ascribed values of zero.
We seek Safe Harbor.
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