Irving Resources Provides Omu Gold Project Update; Announces Appointment of General Manager and Chief Mining Engineer
|August 30, 2017|
Vancouver, British Columbia – (Marketwired – August 30, 2017) – Irving Resources Inc. (CSE:IRV) (“Irving” or the “Company”) is pleased to provide an update on exploration and surface rights acquisition at its 100% controlled Omu gold project, Hokkaido, Japan.
Exploration at Omu has progressed as planned in spite of an abnormally wet summer. Exploration work 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 50×50 meter staggered grid is expected to be completed over the next few weeks. Detailed geologic data and mineralized rock chip samples are being collected along with soil samples. A close spaced gravity survey is currently being undertaken to help better evaluate the position of potential mineralized faults. Upon completion of the gravity survey, a magnetic survey will also be undertaken to identify areas of hydrothermal alteration that is potentially associated with mineralization. Data collected during the 2017 program will be used to develop a drill program at Omu to be executed in 2018.
Across the greater Omu gold project area, stream sediment sampling has recently been completed. A total of 100 bulk leach extractable gold (“BLEG”) samples, specialized samples consisting of fine silt and clay, have been collected and scheduled to be shipped to ALS Global in Vancouver, BC for analysis. Gold and pathfinder elements are analyzed by ultra-high sensitivity means allowing for effective evaluation of stream catchments for potential outcropping mineralization. While collecting BLEG samples, MINDECO staff noted and sampled mineralized stream cobbles at sample sites in many stream drainages. Upon receipt of BLEG data, Irving is planning follow-up prospecting activities to identify mineralized outcrops in prospective stream catchments.
Opening of Irving Japan Omu Office and Addition of General Manager and Chief Mining Engineer
On August 1, Irving Japan officially opened an Irving Japan Omu office in the town of Omu in Hokkaido. This office will serve as a permanent base from which Irving plans to explore and develop the Omu gold project and its other gold projects in the region.
In preparation for conducting more advanced exploration activities at Omu, Irving is pleased to announce the appointment of Mr. Toshiyuki Goto (B.Sc. Geology and Mining Engineering, Akita University) as General Manager of Irving Japan. Mr. Goto’s highly notable career includes 25 years in operations and development of Sumitomo Metal Mining Co. Ltd.’s Hishikari gold mine, the largest gold mine in Japan. Irving Japan also appointed its technical advisor, Mr. Hidetoshi Takaoka, to serve as Irving Japan’s Chief Mining Engineer. Mr. Takaoka served as Chief Geologist of Sumitomo Metal Mining Co. Ltd. Irving will benefit from both Mr. Takaoka and Mr. Goto’s vast experience to help undertake advanced exploration work including bulk sampling as well as potential future mining activities.
“We are thrilled to have Mr. Goto join the Irving team,” commented Akiko Levinson, President, CEO and Director of Irving Resources Inc. “Given Irving’s strategy of pursuing high-grade epithermal vein deposits, Mr. Goto’s career in operations and development at Hishikari mine is extremely valuable for us. Mr. Goto plans to reside in the town of Omu where he will oversee our new office and future advanced exploration and development activities.”
Further Acquisition of Surface Rights at Omui
The Company is pleased to announce that it has secured a further 0.505 sq km (50.5 hectares) of surface rights in the Omui mine area, part of the greater Omu gold project. The Company purchased from two arm’s length parties a total of 0.340 sq km (34.0 hectares) for a combined purchase price of JPY7,500,000 (approximately CAD $90,000). In addition, the Company entered into a long-term lease of surface rights covering 0.165 sq km (16.5 hectares) of an area near the Omui mine for a cost of JPY1,250,000 (approximately CAD $15,000) for the initial five years. The lease is for a five-year term and can be extended for up to three additional five-year periods. These surface rights are considered critical for Irving to proceed with mining work.
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.
About Irving Resources Inc.:
Irving is a junior exploration company with a focus on gold in Japan. Irving also holds, through a subsidiary, Project Venture Agreements with Japan Oil, Gas and Metals National Corporation (JOGMEC) for joint regional exploration programs in the United Republic of Tanzania, the Republic of Malawi and the Republic of Madagascar. 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.
Additional information can be found on the Company’s website: www.IRVresources.com.
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Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, the statement as to the expected receipt of results from various exploration and testing activities. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, customary risks of the mineral resource exploration industry as well as Irving having sufficient cash to fund the planned exploration activities.
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