Irving Resources, Inc. · CSE:IRV
Irving Resources — Investor Presentation (February 2022)
37 slides from Irving Resources's investor presentation, Feb 11, 2022
Slide 1: High-Grade Gold in Japan
High-Grade Gold in Japan “A Unique Opportunity, A Unique Strategy” www.irvresources.com February 11, 2022 CNX: IRV | OTCQX: IRVRF This document is for information purposes only and is not an offer to sell, nor a solicitation of an offer to purchase, any securities. It does not purport to contain all
Slide 2: Disclaimer
Disclaimer CNX:IRV|OTC:IRVRF Some statements in this presentation contain forward-looking information (within the meaning of Canadian securities legislation), including without limitation statements as to the potential, through exploration work including drilling, to define a mineral resource. These
Slide 3: Irving's Mission
Irving’s Mission CNX:IRV|OTC:IRVRF Irving is focused on discovering economic resources of gold & silver by leveraging its relationships, technical knowledge and capital to acquire and explore past producing mines and prospective areas in Japan. Why Japan? • Smelters in Japan require silica-rich gold
Slide 4: Capital Structure
Capital Structure CNX:IRV|OTC:IRVRF Capital Structure (February 11, 2022): Shares Outstanding: 62,022,016 Options Outstanding: 5,293,335 (Directors, Officers, Employees and Consultants) Issued Shares – Fully Diluted: 67,315,351 Management/Directors (FD): 10.92% Newmont Corporation: 14.01% Cash: Appr
Slide 5: Experienced Management, Directors, Advisors
Experienced Management, Directors, Advisors Akiko Levinson, President, CEO, Director – Ms. Akiko Levinson has over 20 years experience in junior mining. Ms. Levinson was previously President and Director of Gold Canyon Resources Inc. which advanced a multi-million ounce gold deposit in Ontario. Irvi
Slide 6: Working in Japan
Working in Japan CNX:IRV|OTC:IRVRF Working in Japan is all about building relations and trust. Irving is uniquely qualified to explore in Japan: • Mostly Japan-based team members. • Mitsui Mineral Development Engineering Co., Ltd. (“MINDECO”) is our lead contractor. • Built a long-standing relations
Slide 7: Gold Mining in Japan
Gold Mining in Japan CNX:IRV|OTC:IRVRF • Since the beginning of the Edo period (1601), over 20 Moz of gold have been produced from Japanese gold mines…the top producers being Hishikari, Sado, Konomai and Yamagano. All of these mines exploit high-grade epithermal deposits. • Hishikari mine (Sumitomo
Slide 8: Modern Gold Mining in Japan
Modern Gold Mining in Japan • Hishikari mine is the largest active gold mine in Japan. Gold production is about 225 Koz per year. A head grade of 30 gpt Au is achieved by ore sorting, optical ore sorters used for small pieces of rock and hand labor used for sorting larger pieces (right). • Hishikari
Slide 9: Modern Gold Mining in Japan
Modern Gold Mining in Japan • Japan is an environmentally conscientious country. Although mining is still active, it must be conducted in the utmost responsible manner. Tolerance for large open pit mining and commensurate milling complexes and tailings dams is low. • Hishikari is an underground mine
Slide 10: Smelter Flux Industry in Japan
Smelter Flux Industry in Japan • Mining silica-rich gold ores and using them for smelter flux has a very long history in Japan. • Each year, Japanese smelters require many hundreds of thousands of tonnes of silica flux. • Mitsui, Sumitomo Metal Mining, Sumitomo Corporation, Nippon Mining (JX), Mitsu
Slide 11: Smelters in Japan
Smelters in Japan CNX:IRV|OTC:IRVRF 11
Slide 12: Irving's Business Model
Irving’s Business Model CNX:IRV|OTC:IRVRF Irving recognizes the sensitivity of mining gold in Japan and has developed a strategy to honor this. Criteria Irving uses to select exploration targets include: • High-silica, precious metal-rich veins that are suitable as smelter flux. No milling will be r
Slide 13: Low Sulfidation Epithermal ("LSE") Veins
Low Sulfidation Epithermal (“LSE”) Veins This is the classic hot spring epithermal vein model in which gold and silver precipitate in response to boiling as geothermal waters rise toward surface (right). Deposits of silica (sinter) and clay form at surface such as at Yellowstone Park, USA (below). 1
Slide 14: Geology of Sumitomo Metal's Hishikari Mine
Geology of Sumitomo Metal’s Hishikari Mine • At Hishikari, veins preferentially occur near a major unconformity between Cretaceous sedimentary rocks and overlying Tertiary volcanic rocks (right). Extensive clay alteration is present at surface. • Veins locally bear abundant ginguro, banded silver su
Slide 15: Irving's Projects
Irving’s Projects CNX:IRV|OTC:IRVRF Irving has established five large LSE vein projects in Hokkaido: • Omu • Utanobori • Shimokawa • Engaru • Eniwa Irving has established five large LSE vein projects in Kyushu: • Yamagano, East Yamagano • A-Satsuma • B-Satsuma • C-Satsuma • D-Satsuma Irving has esta
Slide 16: Omu Project
Omu Project CNX:IRV|OTC:IRVRF Omu Project consists of the 2.98 sq. km. Omui Mining License (past gold producer) and prospecting licenses covering an additional 171.38 sq. km. Irving has undertaken comprehensive data collection at Omu including: • Specialized stream sediment sampling (BLEG - bulk lea
Slide 17: BLEG Results
BLEG Results CNX:IRV|OTC:IRVRF • Both Omu Sinter and Omui, and Hokuryu historic mining areas are well defined by BLEG 3 km Residual downstream anomaly gold results. • Gold anomalism extends to areas well east and southeast of the Omui mine site. Maruyama • Gold anomalism covers a vast area surroundi
Slide 18: Omui Soil Sampling Results
Omui Soil Sampling Results • Soil gold anomalism is extensive at Omui. At Honpi and Nanko, many “hot spots” are evident, a likely indication that more veins have yet to be discovered. • Mineralization is open to the east. • Honpi and Nanko have been the subject of most drilling thus far. 1 km 18
Slide 19: Omui CSAMT
Omui CSAMT CNX:IRV|OTC:IRVRF CSAMT at Omui Mine shows a similar pattern to that seen at Omu Sinter. Lots of resistive structural zones are evident, the “plumbing” system that generated the high-grade veins. Like Omu Sinter, boiling is believed to have occurred at +350 m at Omui. In late 2019, Irving
Slide 20: 2019 Honpi Drilling
2019 Honpi Drilling CNX:IRV|OTC:IRVRF Holes 19OMI-001 through 19OMI-007 and 19OMI-009 tested for shallow high-grade veins. Hole 19OMI-008 partially tested the Sakinyama target. Hole 19OMI-010 is the first deep test of the main vein zone at the boiling level. This hole encountered 21 mineralized vein
Slide 21: 2019 Honpi Drilling
2019 Honpi Drilling CNX:IRV|OTC:IRVRF Results from shallow holes drilled as a fence from north to south across the Honpi area. Hole From (m) To (m) Length (m) Au (gpt) Ag (gpt) Au Eq (gpt) 19OMI-001 5.30 6.30 1.00 19.25 27.50 19.62 45.92 47.00 1.08 4.38 6.15 4.46 19OMI-002 46.40 58.50 12.10 1.58 139
Slide 22: 2019 Honpi Drilling
2019 Honpi Drilling CNX:IRV|OTC:IRVRF ? 22
Slide 23: 2019 Honpi Drilling
2019 Honpi Drilling CNX:IRV|OTC:IRVRF Hole 19OMI-010 encountered a remarkable 21 mineralized veins. Hole ID From (m) To (m) Length (m) Au (gpt) Ag (gpt) Au eq (gpt) 19OMI-010 0.00 3.00 3.00 27.00 40.50 27.54 18.75 19.85 1.10 2.60 2.80 2.64 36.30 36.98 0.68 3.20 13.50 3.38 62.00 64.30 2.30 3.80 55.90
Slide 24: 2019 Honpi Drilling
2019 Honpi Drilling CNX:IRV|OTC:IRVRF ? 24
Slide 25: 2020 Nanko Drilling
2020 Nanko Drilling CNX:IRV|OTC:IRVRF Drilling at Nanko indicates a completed preserved hot spring system remains intact with long low grade intercepts at the top and high-grade veins below. Hole From (m) To (m) Length (m) Gold (gpt) Silver (gpt) Gold eq (gpt) 20OMI-002 74.70 89.20 14.50 2.90 29.50
Slide 26: 2020 Nanko Drilling
2020 Nanko Drilling CNX:IRV|OTC:IRVRF ? 26
Slide 27: 2021 Honpi Drilling – An Exciting New Discovery
2021 Honpi Drilling – An CNX:IRV|OTC:IRVRF Exciting New Discovery Banded Sinter Fossil Algae 27
Slide 28: 2021 Honpi Drilling – An Exciting New Discovery
2021 Honpi Drilling – An CNX:IRV|OTC:IRVRF Exciting New Discovery Today Initial System After Burial 28
Slide 29: 2022 Honpi Drilling – Targeting the Prize
2022 Honpi Drilling – CNX:IRV|OTC:IRVRF Targeting the Prize Today 29
Slide 30: Omu Sinter Drilling
Omu Sinter Drilling CNX:IRV|OTC:IRVRF Three rounds of drilling have been conducted at Omu Sinter, in mid-2019, early 2020 and early 2021. To date, drilling has encountered numerous high- grade vein intercepts such as hole 19OMS-002 which encountered 0.32 m grading 118.5 gpt Au and 1,410 gpt Ag and s
Slide 31: Omu Sinter Results
Omu Sinter Results CNX:IRV|OTC:IRVRF Hole From (m) To (m) Length (m) Au (gpt) Ag (gpt) Au eq (gpt) 19OMS-001 61.20 62.66 1.46 5.15 13.00 5.32 Veins 19OMS-002 183.75 191.92 8.17 5.40 105.90 6.81 including 184.39 185.72 1.33 29.77 575.70 37.45 including 184.93 185.25 0.32 118.50 1410.00 137.30 19OMS-0
Slide 32: Hokuryu CSAMT
Hokuryu CSAMT CNX:IRV|OTC:IRVRF CSAMT at Hokuryu displays a prominent resistive structure trending E- SE and open to the east. Historic mine workings only occupy a small area, so Irving believes there are many more veins to be found here. Phase I drilling began in October 2021. 32
Slide 33: Kyushu Projects: Yamagano Mine & Satsuma
Kyushu Projects: Yamagano Mine & Satsuma • Past producing 11 km Yamagano Mine License (5.25 sq. km.) and East Yamagano (6.2 sq. km.) mineral prospecting licenses located 11 kms south of world class Hishikari mine • Satsuma (107.13 sq. km.) mineral prospecting licenses 33
Slide 34: Yamagano Mine Map
Yamagano Mine Map CNX:IRV|OTC:IRVRF • Yamagano mine veins & underground workings Exploration map potential • Reported gold production of 300 years Exploration potential • No modern- Veins day exploration completed at Yamagano including drilling 34
Slide 35: Noto Projects
Noto Projects CNX:IRV|OTC:IRVRF Irving staked four LSE projects on the Noto Peninsula totaling 337.37 sq. km. following receipt of strong BLEG Au results. High level reconnaissance confirms all anomalies are associated with hot spring systems. NE Noto E Noto Central Noto SW Noto 35
Slide 36: Irving's 2022 Exploration Plans
Irving’s 2022 Exploration Plans ➢ 2022 Omu program: ➢ Expanded Phase III drilling at Omui (Winter thru Fall) ➢ Additional CSAMT at Omui (Summer) ➢ Completion of Phase I drilling at Hokuryu (Summer) ➢ Phase IV drilling at Omu Sinter (Fall) ➢ 2022 Yamagano program: ➢ CSAMT (Spring-Summer) ➢ Seek permi
Slide 37: Contact
CNX: IRV | OTCQX: IRVRF email: [email protected] Phone: 1-604-682-3234 37
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