Ms. Akiko Levinson reports
IRVING RESOURCES ENCOUNTERS MULTIPLE HIGH-GRADE GOLD AND SILVER VEINSA IN FIRST DEEP HOLE AT OMUI MINE
Irving Resources Inc.'s diamond drill hole 19OMI-010 encountered 21 significant gold-silver veins at the Omui mine site, part of its 100-per-cent-controlled Omu gold project, Hokkaido, Japan. Hole 19OMI-010 was the first hole testing the interpreted boiling level of the paleo hot spring system at this important target. Given the success of this hole, Irving believes the large, deep-rooted resistive feature defined by controlled-source audio-frequency magnetotelluric (CSAMT) surveys at Omui is indeed the silicified core of the system and has potential to host a significant number of undiscovered mineralized veins.
Summary and highlights
As discussed in the company's news release dated Jan. 17, 2020, six out of seven shallow holes drilled as a fence across the historic Honpi mine area at Omui intercepted significant mineralized veins. Hole 19OMI-010 alone encountered 21 significant veins indicating the vein network underlying this target is extensive and open at depth. Vein intercepts in hole 19OMI-010 include three metres grading 27 grams per tonne gold and 40.5 g/t silver, 1.1 m grading 29.6 g/t Au and 36.5 g/t Ag, 3.77 m grading 12.3 g/t Au and 84.5 g/t Ag, and 1.2 m grading 7.8 g/t Au and 887.5 g/t Ag. Hole 19OMI-009, situated appropriately 100 m east of hole 19OMI-010 and oriented south at an inclination of negative 60 degrees, was also intended to be a deep drill test but was lost at 292.4 m in bad ground. Nonetheless, this hole encountered five significant veins including one of 0.8 m grading 46.3 g/t Au and 22.1 g/t Ag.
SUMMARY OF SIGNIFICANT AU-AG VEIN INTERCEPTS
FROM HOLES 19OMI-009 AND 19OMI-010
Hole ID From (m) To (m) Length (m) Au (g/t) Ag (g/t) AuEq (g/t)
19OMI-009 8.25 11.95 3.70 3.1 28.2 3.4
including 10.20 11.95 1.75 3.9 37.8 4.4
80.25 81.25 1.00 1.8 70.2 2.7
101.60 102.40 0.80 4.1 115.4 5.4
180.00 181.00 1.00 3.3 15.6 3.5
190.00 190.80 0.80 46.3 22.1 46.6
19OMI-010 0.00 3.00 3.00 27.0 40.5 27.5
18.75 19.85 1.10 2.6 2.8 2.7
36.30 36.98 0.68 3.2 13.5 3.4
62.00 64.30 2.30 3.8 55.9 4.4
including 64.05 64.30 0.25 16.3 32.2 16.6
108.95 110.00 1.05 14.1 37.6 14.5
117.00 118.10 1.10 29.6 36.5 30.0
including 117.00 117.30 0.30 96.5 65.7 97.3
123.40 125.70 2.30 2.3 22.6 2.6
139.15 148.90 9.75 1.3 60.6 2.0
including 143.21 144.25 1.04 1.7 155.0 3.6
207.02 208.15 1.13 1.0 128.0 2.5
223.50 224.50 1.00 0.9 132.0 2.4
259.30 259.90 0.60 4.1 13.9 4.2
343.00 344.00 1.00 3.0 10.2 3.1
348.00 348.57 0.57 6.7 501.9 12.6
353.80 355.77 1.97 4.8 29.0 5.1
including 355.08 355.77 0.69 7.8 33.2 8.2
368.29 369.32 1.03 5.3 64.3 6.1
including 369.00 369.32 0.32 9.2 137.0 10.8
401.30 404.90 3.60 2.3 211.5 4.8
including 401.30 402.10 0.80 7.3 629.9 14.7
406.70 407.80 1.10 2.5 161.0 4.4
419.58 423.35 3.77 12.3 84.5 13.3
including 421.34 423.35 2.01 21.4 111.4 22.7
including 422.08 422.70 0.62 38.5 128.0 40.0
427.00 428.00 1.00 2.7 5.3 2.8
453.90 455.10 1.20 7.8 887.5 18.3
including 454.80 455.10 0.30 26.2 2,970.0 61.1
516.00 517.00 1.00 3.1 166.0 5.0
Hole 19OMI-010, oriented south at an inclination of negative 60 degrees and drilled to a depth of 585.3 m, encountered a remarkable 21 mineralized veins. Veins encountered deeper in the hole commonly display banding, crystalline quartz, and bladed calcite crystals and pseudomorphs, all of which are typical products of a boiling regime. Higher in the hole, veins do not display distinct banding, quartz is typically crytocrystalline and explosive breccia textures can be seen, all indicative of a high level within the system. Interestingly, a heavily weathered vein of this type was intersected at the top of the hole (three m grading 27 g/t Au and 40.5 g/t Ag). This vein appears to be north of the Honpi vein and represents a new discovery, one untested at depth.
Recent study of oriented core by Irving's geologists has found the predominant vein orientation is east-northeast dipping north-northwest at about 70 to 80 degrees. Therefore, Irving believes true widths of veins intersected in recent diamond drill holes at Omui is approximately 65 per cent to 80 per cent of downhole widths.
In spite of the fact that veins trend east-northeast, the broad CSAMT resistive body under Omui displays a southeast trend. This raises the possibility that mineralized veins follow an en echelon pattern along the trend of the deep-rooted resistive body. Such a pattern would result from tectonic shearing along the deep-rooted structure at the time of mineralization, thus creating a slightly oblique sheeted vein network in the near-surface above. If so, it is possible Omui hosts a large sheeted vein network, one that could persist along the length of the circa one-kilometre-long CSAMT corridor. This feature remains open to the east.
Two types of veins are evident, ones with low silver-to-gold ratios of less than 20 to one and high silver veins with silver-to-gold ratios much greater than 20 to one. This same bimodal nature of vein mineralization is displayed among veins at Omu Sinter approximately 10 km north of Omui. Because of this, Irving thinks there is a potential genetic link between the two systems.
Hole 19OMI-008, oriented south at an inclination of negative 60 degrees and drilled to a depth of 502.6 m, tested the Sakinyama target approximately 400 m south-southwest of Honpi. While alteration and silicification are evident in this hole, it returned no significant precious metal values.
Phase II drilling at Omui is scheduled for May after snow melt. Irving will place a high priority on following up on the newly discovered vein network revealed in hole 19OMI-010.
Drilling is currently under way at Omu Sinter where a second diamond drill hole is in progress. Drilling is currently planned at Omu Sinter through April. Holes are testing deeper parts of Omu Sinter much like hole 19OMI-010 tested the boiling regime at Omui.
"We are pleased with the success of hole 19OMI-010," commented Dr. Quinton Hennigh, director and technical adviser to Irving. "This hole encountered a remarkable 21 significant mineralized veins beginning at grassroots and continuing to near the bottom of the hole. Stepping back and looking at all drilling done to date including previously announced veins intercepts in shallow holes, we see a corridor at least 350 m wide hosting numerous east-northeast trending veins. We are now hypothesizing this corridor follows the CSAMT resistive trend southeastward. Given this feature is already defined for approximately one km and is open to the southeast, this makes for exciting potential. We clearly have a lot of drilling ahead of us to follow up on hole 19OMI-010 and test this hypothesis."
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 atomic absorption finish. Overlimit samples were assayed by fire assay with gravimetric finish. Multielements were analyzed by mass spectrometry following three-acid digestion. Irving staff and personnel from Mitsui Mineral Development Engineering Co. Ltd. are responsible for geologic logging and sampling of core.
Dr. Hennigh (PhD, PGeo) 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 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 Malawi. 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.
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