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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.