VANCOUVER, BC / ACCESS Newswire / January 22, 2025 / Irving Resources Inc. (CSE:IRV)(OTCQX:IRVRF) ("Irving" or the "Company") is pleased to provide an update on exploration activities at its East Yamagano JV project, Kyushu, Japan.
Yamagano and Noto JV project Update
In the third quarter of 2024, Irving, as manager of theYamagano and Noto joint venture, completed the second diamond drill hole at East Yamagano, 24SY-001, a south-oriented 702.5m deep drill hole inclined at -65 degrees designed to test a steeply oriented electrically resistive zone evident in AMT data (Figures 1 and 2). This zone is thought to be related to hydrothermal silicification resulting from fossil hot spring activity, a favorable setting for discovery of blind epithermal gold veins. Hole 24SY-001 is situated approximately 950m east of historic underground mine workings at the famous Yamagano mine. A similar resistive feature was tested by the first drill hole, 23SY-001, situated approximately 550m east of the historic Yamagano mine working, which encountered high-grade gold vein mineralization, 5m grading 9.62 gpt Au (for full results,please refer to the Company's news release dated May 7, 2024).
Although hole 24SY-001 did not encounter similar high grade vein mineralization to that in hole 23SY-001, a zone of argilization and silicification and associated quartz veinlets were encountered between approximately 280m and 610m down hole depth. Figure 2 illustrates a broad distribution of low grade gold that was encountered within this silicified zone, the highest individual gold assay being 2.19 gpt Au over 0.6m. Irving's geologists interpret this anomalous gold and silicification to represent a halo above a deeper rooted vein zone. Based upon this interpretation, Irving is scheduling further drilling of the underlying resistive feature.
In late 2024, Irving commenced drilling a third hole at East Yamagano, 24SY-002, located 100m east of hole 23SY-001, and oriented to 180 degree south at -70 degrees. Like previous holes, 24SY-002 is designed to test a very pronounced steeply dipping resistive zone in the hopes of finding new high-grade gold veins. This hole is in progress and currently at a depth of approximately 300m. It is planned to reach a target depth of around 500m. Beginning at approximately 180m down hole depth, extensive quartz veins and vein breccias have been observed, far more than evident in the previous two drill holes. Irving is optimistic that these veins and vein breccias are evidence of the hypothesized structural fluid feeder in this area. Completion of this hole is expected over the next three to four weeks after which it will be logged, split and sampled for assay. It is anticipated that at least two additional holes will be drilled by mid-2025. Based upon drilling to date, the joint venture between Newmont Overseas Exploration Limited ("Newmont"), a wholly-owned subsidiary of Newmont Corporation, Sumitomo Corporation ("Sumitomo"), and Irving has already decided to pursue permitting of at least another six holes that may be drilled subsequent to the currently planned drill holes.
The initial interests of the parties in the Yamagano and Notojoint venture are Newmont, 60%, Sumitomo, 12.5%, and Irving, 27.5%.
Quinton Hennigh (Ph.D., P.Geo.) is the qualified person pursuant to National Instrument 43-101 Standards of Disclosure for Mineral Projects responsible for, and having reviewed and approved, the technical information contained in this news release. Dr. Hennigh is a technical advisor and a director of Irving Resources Inc. and has verified the data disclosed including sampling, through review of photographs of core prior to and after sawing and sampling, and analytical, through review of standard and blank analyses.
About Irving Resources Inc.:
Irving is a junior exploration company with a focus on gold in Japan. Irving resulted from completion of a plan of arrangement involving Irving, Gold Canyon Resources Inc. and First Mining Finance Corp. Additional information can be found on the Company's website: www.IRVresources.com.
Akiko Levinson,
President, CEO & Director
For further information, please contact:
Tel: (604) 682-3234 Toll free: 1 (888) 242-3234 Fax: (604) 971-0209
info@IRVresources.com
Forward-looking information
Some statements in this news release may contain forward-looking information within the meaning of Canadian securities legislation including, without limitation, statements as to planned exploration activities. Forward-looking 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, the funding of planned drilling and other exploration activities, as well as the performance of services by third parties.
THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE
(Figure 1: Plan view showing the trace of drill hole 24SY-002 at East Yamagano. Au assays marks are presented.)
(Figure 2: Cross sectional view looking west showing the trace of drill hole 24SY-002 at Easy Yamagano. Au assays marks are presented. This hole appears to glance over the top of the prominent resistive feature evident in CSAMT data presented in the background. The light gray dashed structure is the interpreted root fluid feeder associated with this resistive zone. Silcification and associated low level gold mineralization encountered in 24SY-002 is though to represent a halo above this zone. )
SOURCE: Irving Resources Inc
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