Irving Resources Purchases Diamond Drills to Ramp Up Drilling in Japan

Rhea-AI Summary

Irving Resources has acquired two diamond drills to enhance its exploration initiatives in Japan. The first, a Zinex A5 drill, is set to arrive mid-July, while an LF90DT drill is expected in Q3 2022. This in-house drilling strategy, adopted due to pandemic-related travel issues, allows for simultaneous drilling at multiple targets, expediting exploration efforts. Key projects include Omu and Yamagano. Following a recent COVID outbreak, drilling operations have resumed, aiming for high-grade target follow-ups. The company emphasizes this initiative as pivotal for advancing its gold-silver portfolio.

Positive

• Acquisition of two diamond drills enhances exploration capabilities.
• In-house drilling approach allows simultaneous drilling at multiple targets.
• Resumption of drilling operations following delays due to COVID.

Negative

• Previous COVID outbreak delayed drilling and core sampling.
• Reliance on timely delivery of drills and in-house staff performance.

VANCOUVER, British Columbia, June 07, 2022 (GLOBE NEWSWIRE) -- Irving Resources Inc. (CSE:IRV; OTCQX: IRVRF) (“Irving” or the “Company”) is pleased to announce it has purchased two new diamond drills for its exploration programs in Japan. A new Zinex A5 diamond drill has been secured through GeoTech Drilling Services Ltd., Prince George, British Columbia, and is anticipated to be shipped to Japan this week, arriving mid-July. In addition, a new LF90DT diamond drill has been secured through Boart Longyear, Adelaide, South Australia, and is anticipated to be delivered in the third quarter of this year.

Due to the challenges during the COVID pandemic, especially international travel to and from Japan, the Company has decided to take its drilling operations in-house including building its own team of drillers. Although this is a big step for Irving, this in-house approach has been employed by companies such as Lion One Metals who has successfully and consistently maintained their drilling operations throughout the past two years in spite of the pandemic. Having two drills will allow Irving to drill at two targets simultaneously which will help speed up the pace of exploration. In addition, the Company will now have more flexibility to pursue drilling at its Omu project while simultaneously drilling other projects including Yamagano, as an example.

“This is a bold step for Irving,” commented Dr. Quinton Hennigh, director and technical advisor, “but it will allow us to be more aggressive with our exploration plans. COVID brought to the fore many issues, especially international travel in and out of Japan. We foresee buying these drills and building a solid in-house team of drillers who can stay with us over the years as a critical means of advancing our high quality portfolio of epithermal gold-silver projects. Having two rigs will also help us with flexibility. We will now have the ability to drill two areas simultaneously which gives us the ability to tackle projects such as Yamagano, our Hishikari analogue in Kyushu. We look forward to getting both of these drills in place by the third quarter of this year.”

Further updates:

• Irving completed a second diamond drill hole at the Omui mining license, part of the Omu gold-silver project, at the end of April. Both this hole and the first hole are undergoing assaying in Canada. Due to a COVID outbreak among workers at site in April, sawing and sampling of core from these holes was delayed by a few weeks.
• Geophysical crews were recently granted visas to come to Japan and complete phase II controlled source audiomagnetotelluric (“CSAMT”) surveys at Omu project and undertake phase I CSAMT surveys at Yamagano project. CSAMT work is presently underway at Omu.
• Phase I drilling has resumed at Irving’s Hokuryu target, part of the Omu project, performed by Japanese drill contractor, SRED. Three diamond drill holes are planned to follow up on the intersection of high grade veins encountered in hole 21HKR-001 (3.12 gpt Au and 469 gpt Ag over 0.41m and 4.27 gpt Au and 7.55 gpt Ag over 1.67m, as reported in the Company’s news release dated March 25, 2022).
  

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 a director of Irving.

About Irving Resources Inc.:

Irving is a junior exploration company with a focus on gold in Japan. Irving also holds, through a subsidiary, a Joint Exploration Agreement with Japan Oil, Gas and Metals National Corporation (JOGMEC). 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.

Akiko Levinson,
President, CEO & Director

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 the expected timing of delivery of the two drills purchased by Irving, and the benefits expected from taking its drilling operations in-house. 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 availability to Irving of sufficient cash to fund any planned drilling and other exploration activities, as well as the performance of services by third parties and the performance of Irving’s in-house drilling staff.

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE. 

FAQ

What recent developments has Irving Resources announced regarding drilling operations?

Irving Resources announced the acquisition of two diamond drills to enhance its exploration operations in Japan, allowing for simultaneous drilling.

What challenges did Irving Resources face during the COVID pandemic?

The company faced challenges related to international travel, which influenced its decision to bring drilling operations in-house.

What are the expected benefits of Irving Resources' new drilling strategy?

The strategy is expected to speed up exploration efforts and provide flexibility in pursuing multiple projects, including Omu and Yamagano.

When are the new diamond drills expected to arrive for Irving Resources?

The Zinex A5 drill is expected to arrive mid-July 2022, while the LF90DT drill is anticipated in the third quarter of 2022.

How has COVID affected Irving Resources' drilling timeline?

COVID-related issues previously delayed drilling and core sampling, but recent operations have now resumed.