Irving Resources Resumes Drilling at Omui and Updates Drilling at Omu Sinter

VANCOUVER, British Columbia, April 21, 2020 (GLOBE NEWSWIRE) -- Irving Resources Inc. (CSE:IRV) (“Irving” or the “Company”) is pleased to announce it has recently completed four diamond drill holes at Omu Sinter and has now resumed drilling at Omui Mine Site, both targets being part of its 100% controlled Omu Gold Project, Hokkaido, Japan. Following review of the COVID-19 situation in the Omu region, an area where no confirmed cases have been reported, and after developing strict operational guidelines, Irving has decided to continue exploration at Omu at this time.

Recommencement of Drilling at Omui Mine Site

Hole 20OMI-001, the first hole at Omui to offset veins discovered in hole 19OMI-010 drilled late last year, was recently collared approximately 70 m east-southeast of hole 19OMI-010. Similar to hole 19OMI-010, hole 20OMI-001 is oriented at -60 degrees southward and will test the southeastward continuation of a large, deep-rooted resistive feature defined by controlled-source audio-frequency magnetotelluric (‘CSAMT’) surveys. This feature is interpreted to be the silicified core of the paleo-hot spring system, and given promising vein intercepts encountered in hole 19OMI-010, Irving believes it has the potential to host a significant number of mineralized veins, especially in proximity to the interpreted boiling level.

Over the next few months, Irving has planned a series of at least eight diamond drill holes scattered across the Omui Mine Site that will more thoroughly evaluate CSAMT resistive anomalies associated with the newly discovered vein system. Approximately 600 m of its strike will be explored. In addition, Irving has follow-up CSAMT surveys planned in multiple areas around Omui to more fully assess extensions of prospective resistive zones beyond the area surveyed last year. By year end, Irving hopes to better understand the magnitude of this exciting new mineralized system.

Omu Sinter Drilling Update

Between mid-January and early April, Irving completed four diamond drill holes at Omu Sinter to follow up on encouraging vein mineralization encountered in its 2019 phase one drill campaign as well as newly defined CSAMT anomalies (Figure 1). Observations and results are summarized below:

• Hole 20OMS-001, oriented southeastward at -50 degrees, drill tested an area near hole 19OMS-002 drilled last April (Figure 2). In hole 20OMS-001, a 2.70 m vein intercept grading 4.70 gpt Au and 92.2 gpt Ag including 0.80 m grading 12.70 gpt Au and 216.4 gpt Ag (see nearby table of results) was encountered approximately 30 m vertically above a 8.17 m vein intercept grading 5.40 gpt Au and 105.9 gpt Ag including 1.33 m grading 29.77 gpt Au and 575.7 gpt Ag encountered in hole 19OMS-002. Irving believes these results confirm continuity of this vein and that it is trending approximately north-south and is dipping near vertical.
• Hole 20OMS-004, oriented southeastward at -60 degrees and collared further southwest from hole 20OMS-001, tested an area nearly 200 m vertically below hole 19OMS-002 where the vein discussed above extends into the interpreted boiling level. Several notable epithermal veins, some bearing notable sulfide contents, were encountered within the targeted regime. Assays from this hole are in progress.
• Hole 20OMS-002, collared nearly 1 km south of the previously discussed drill holes and oriented northwestward at -52 degrees, encountered a robust section of silica sinter and silicified rhyolite at its top (Figure 3). These deposits are believed to be surface deposits that formed within a shallow hot spring pool at the top of the paleo-hot spring system. A 22.9 m interval grading 0.76 gpt Au and 19.72 gpt Ag was encountered within the sinter horizon. A deep-rooted CSAMT resistive anomaly underlies this area and is believed to be associated with silicification associated with a feeder zone. Irving plans to drill test this concept once additional drill pads are permitted in this area.
• Hole 20OMS-003, collared approximately 500 m west of hole 20OMS-002 and oriented southeast at -50 degrees, tested a pronounced conductive zone visible in CSAMT data. Clay altered volcanic rocks were encountered in this area. Weakly anomalous precious metals values were encountered in this hole. 

Summary of significant Au-Ag vein intercepts from holes 20OMS-001 and 20OMS-002: