Business

Irving Resources provides exploration updates from the Omu Au-Ag Vein project in Hokkaido, Japan, Canadian Business Journal

Vancouver, British Columbia, March 25, 2022 (GLOBE NEWSWIRE) — Irving Resources Inc. (CSE: IRV; OTCQX: IRVRF) (“Irving” or “society”) Is pleased to be able to provide an exploration update from the 100% controlled Omu Au-AgVein Project in Hokkaido.

Overview of the first diamond drill hole completed in Hokuryu:

  • The first diamond drill hole completed by Irving at the Hokuryu vein target encountered two high-grade Au-Ag veins (see table below).
  • This hole was temporarily terminated at a depth of 294.7m due to the heavy snow event in October 2021, and the target subvertical electrical resistance zone was not completely tested, but the two veins were grade 3.12. gptAu and 469 gptAg (9.13 gpt Au eq) 0.41 m or more and 14.05 gptAu and 13.35 gptAg (14.22 gpt Au eq) 0.33 m or more 4.27 gpt Au and 7.55 gptAg (4.37 gpt Au eq) 1.67 m or more The true thickness of these veins is Currently unknown. Further holes need to be drilled to completely determine their orientation and true thickness.
  • The deepest part of these two veins is within 1 meter of the edge of the hole. Therefore, Irving believes that when this hole stopped, it may have begun to enter a more important zone of mineralization.
  • Irving will re-enter the hole in 21HKR-001 and continue excavating to the target depth of 600m from May after the snowmelt.
  • Importantly, this hole is located about 50 meters west of the historic Hokuryu mine, clearly showing that this vast vein system is expandable. The deepest venous section of hole 21HKR-001 is 240 m perpendicular to the surface, indicating that the Hokuryu venous system is deeply open.
  • After the 21HKR-001 hole is completed, Irving will drill three more holes as part of its first drilling campaign at Hokuryu.

Summary of Assay from Two Vein Sections Encountered in Hole 21 HKR-001:

hole From (m) To (m) Length (m) Au (gpt) Ag (gpt) Au eq (gpt) Ag eq (gpt)
21HKR-001 266.53 266.94 0.41 3.12 469.00 9.13 712.36
292.07 293.74 1.67 4.27 7.55 4.37 340.61
include 292.07 292.40 0.33 14.05 13.35 14.22 1109.25

Au eq = Au + (Ag / 78); Ag eq = Ag + (Au x 78); As a smelter flux, both Au and Ag recovery rates are expected to be + 95%.

Overview of ongoing drilling at the Omui mine site:

  • Irving is already underway in the 2022 Omuy Mine Site Diamond Drill Campaign, as described in our news release dated March 2, 2022.
  • Three holes were designed as an immediate test of the recently discovered deeper hot spring system encountered by the 21OMI-002 hole drilled at the end of last year. (See our news release dated December 13, 2021) It blocks a series of siliceous sintered rocks sandwiched between various sedimentary rocks and pyroclastic rocks, starting about 200 m from the surface. The sintered layer of the holes in 21OMI-002 contains a significant amount of Au and Ag. This is a fertile hot spring system, showing that the individual sample spacing is as high as 3.55 gpt Au and 565 gpt Ag. Pathfinder elements such as arsenic, antimony, mercury and selenium are also very abundant in these rocks.
  • The first hole of this new season, Hole 22 OMI-001, is a hole for NNE colored in the approximately 360m SSW of Hole 21 OMI-002, currently at a depth of approximately 554m, with multiple holes between 270m and 425m. I have encountered a mineralization vein. Ginglo, which is composed of fine silver sulfosalt minerals, is found in some of these veins. Completion of this hole is delayed by 3 weeks due to a breakdown. Replacement parts have arrived in Japan and excavation has resumed. The target depth of 22OMI-001 is 700m, which is about 600m below the surface of the water.
  • Irving says that the environment of Hongpi is Furuta del Norte (“FDN”) Deposit in Ecuador. The buried sinter cap of the FDN system is found under a post-mineral cover about 200 m, and vein deposition occurs just below the sinter.

“We are very pleased to see a high-grade Au-Ag intercept at the first diamond drill hole in Hokuryu, where the mine was suddenly closed in 1943 during World War II,” said Irving, a technical advisor. Director Quinton Henny commented. “This is the first drill hole that has been tested in Hokuryu for decades. Although it was temporarily stopped before the target was fully tested, these two venous intercepts are of the Hokuryu venous system. We have confirmed that expansion is possible. We hope to complete this hole and the rest of the Hokuryu drill program in the coming months, and very much like what we see in the first Omui drill hole in 2022. Encouraged by and eager to drill further with this very important target. “

All samples described in this news release are 1/2 split sewing diamond core samples. Irving submitted a sample to ALS Global in Vancouver, Canada for analysis. Au and Ag were analyzed by AA-finished fire analysis. Excess limit samples were analyzed by fire analysis with a gravimetric finish. The multi-elements were analyzed by mass spectrometry following four acid decompositions. Irving periodically inserts standard and blank samples into assay batches submitted to the lab. Company staff are responsible for core geological logging and sampling. Au equivalent is calculated by adding Au (gpt) to Ag (gpt) / 78.

Drill color data:

Hole number type grid Eri
East
Eri
Nothing
elevation hole
Length m
Azimuth angle
21HKR-001 core WGS-54N 643546.69 4933992.40 311.53 294.7 190 ° -53 °

Quinton Hennigh (Ph.D., P.Geo.) Is a qualified person responsible for the technical information contained in this news release, reviewed and approved by National Instrument 43-101. Dr. Hennigh is a technical advisor and director of Irving Resources Inc. At this time, Irving has not confirmed the actual width of these vein sections. More drills are needed to determine the exact direction.

About Irving Resources Inc .:

Irving is a junior exploration company focusing on Japanese gold. Irving also has a joint exploration agreement with Japan Oil, Gas and Metals Mining Company (JOGMEC) through its subsidiary. JOGMEC is a government agency established under Japanese law managed by the Ministry of Economy, Trade and Industry of Japan, and provides a stable supply of various resources to Japan through the discovery of considerable economic deposits of bases, precious metals and rare metals. Is responsible for. ..

Additional information can be found on our website. www.IRVresources.com..

Akiko Levinson,
President, Chief Executive Officer and Director

Information about future prospects
Some statements in this news release include, but are not limited to, statements regarding the potential for high-grade mineralization and planned exploration activities in the Omu project, within the meaning of Canadian securities law. May contain information about your outlook. Forward-looking statements correspond to future events and circumstances and include known and unknown risks, uncertainties, and other factors, expressed or implied by actual results, performance, or outcomes. Future results, performance, or outcomes may differ significantly. statement. These factors include the customary risks of the mineral resource exploration industry, the availability of sufficient cash to irving to fund planned drilling and other exploration activities, and third party services. Includes, but is not limited to, the execution of.

CSE has not been reviewed and is not responsible for the accuracy or validity of this release.

Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3e481583-0ede-4278-84a8-dff29d842ce5.


CBJ News Maker

Irving Resources provides exploration updates from the Omu Au-Ag Vein project in Hokkaido, Japan, Canadian Business Journal

Source link Irving Resources provides exploration updates from the Omu Au-Ag Vein project in Hokkaido, Japan, Canadian Business Journal

Related Articles

Back to top button