Irving Resources, Inc. · CSE:IRV
Irving Resources — Investor Presentation (January 2023)
41 slides from Irving Resources's investor presentation, Jan 17, 2023
Slide 1: High-Grade Gold in Japan
High-Grade Gold in Japan “A Unique Opportunity, A Unique Strategy” www.irvresources.com January 17, 2023 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 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 statements addres
Slide 3: Why Japan?
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. • Smelters in Japan require silica-rich gold ores as smelter flux = low CapEx mining • Jap
Slide 4: Capital Structure
Capital Structure Capital Structure (updated to December 31, 2022): Shares Outstanding: 72,366,900 Options Outstanding: 5,210,000 (Directors, Officers, Employees and Consultants) Warrants Outstanding: 1,487,270 1,487,270 at C$1.60 – July 12, 2025 Issued Shares – Fully Diluted: 79,064,170 Management/
Slide 5: Experienced Management, Directors, Advisors
Experienced Management, Directors, Advisors Akiko Levinson, President, CEO, Director – Ms. Akiko Levinson has over 20 years Lisa Sharp, CFO – Ms. Lisa Sharp, CPA, CGA has over 20 years of senior management experience in junior mining. Ms. Levinson was previously President and Director of Gold experi
Slide 6: Working in Japan
Working in Japan 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 relationship with Japan Oil
Slide 7: Gold Mining in Japan
Gold Mining in Japan Konomai Hokkaido • 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. Sado • Hishikari mine (Sumit
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 2023 | Irving Resources CNX: IRV | OTCQX: IRVRF 11
Slide 12: Irving’s Business Model
Irving’s Business Model 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 required. • Deposit
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). 2
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 Irving Land Position • Irving is exploring four large LSE vein projects in Hokkaido: Omu • Omu Project Area • Shimokawa Shimokawa • Engaru Project Area Engaru • Eniwa Project Area • Irving is advancing two large LSE vein projects in Kyushu: Eniwa • Yamagano, East Yamagano Noto Proj
Slide 16: Omu Project
Omu Project 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. Hokkaido Projects Irving has undertaken comprehensive data collection at Omu including: Omu • Specialized stream sediment sampling (BLEG - bulk
Slide 17: BLEG Results
BLEG Results • Both Omu Sinter and Omui, and Hokuryu 3 km historic mining areas are well defined by Residual downstream anomaly BLEG gold results. • Gold anomalism extends to areas well east and southeast of the Omui mine site. • Gold anomalism covers a vast area Maruyama surrounding the Hokuryu min
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 2023 |
Slide 19: Omui CSAMT
Omui CSAMT 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 drilled a series
Slide 20: 2019 Honpi Drilling
2019 Honpi Drilling • 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 veins. 2023 | Ir
Slide 21: 2019 Honpi Drilling
2019 Honpi Drilling 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 1.58 139.90 3.45 including
Slide 22: 2019 Honpi Drilling
2019 Honpi Drilling ? 2023 | Irving Resources CNX: IRV | OTCQX: IRVRF 22
Slide 23: 2019 Honpi Drilling
2019 Honpi Drilling 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 4.55 108.95 110.0
Slide 24: 2019 Honpi Drilling
Hole ID From (m) To (m) Length (m) Au (gpt) Ag (gpt) Au eq (gpt) 2019 Honpi Drilling 19OMI-010 0.00 18.75 3.00 19.85 3.00 1.10 27.00 2.60 40.50 2.80 27.54 2.64 36.30 36.98 0.68 3.20 13.50 3.38 62.00 64.30 2.30 3.80 55.90 4.55 108.95 110.00 1.05 14.10 37.60 14.60 117.00 118.10 1.10 29.60 36.50 30.09
Slide 25: 2019 Honpi Drilling
2019 Honpi Drilling ? 2023 | Irving Resources CNX: IRV | OTCQX: IRVRF 25
Slide 26: 2020 Nanko Drilling
2020 Nanko Drilling 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 3.29 including 75.
Slide 27: 2020 Nanko Drilling
Gold eq 2020 Nanko Drilling Hole 20OMI-002 From (m) 74.70 To (m) 89.20 Length (m) Gold (gpt) Silver (gpt) 14.50 2.90 29.50 (gpt) 3.29 including 75.20 77.00 1.80 7.54 60.79 8.35 including 80.29 82.30 2.01 12.59 91.36 13.81 20OMI-003 41.30 55.90 14.60 1.71 21.64 2.00 207.00 221.24 14.24 3.55 69.24 4.4
Slide 28: 2020 Nanko Drilling
2020 Nanko Drilling ? 2023 | Irving Resources CNX: IRV | OTCQX: IRVRF 28
Slide 29: 2021 Honpi Drilling - An Exciting New Discovery
2021 Honpi Drilling - An Exciting New Discovery Looking West 2023 | Irving Resources CNX: IRV | OTCQX: IRVRF 29
Slide 30: 2021 Honpi Drilling – An Exciting New Discovery
2021 Honpi Drilling – An Exciting New Discovery Banded Sinter Fossil Algae 2023 | Irving Resources CNX: IRV | OTCQX: IRVRF 30
Slide 31: 2021 Honpi Drilling – An Exciting New Discovery
2021 Honpi Drilling – An Exciting New Discovery Initial System Present Day After Burial 2023 | Irving Resources CNX: IRV | OTCQX: IRVRF 31
Slide 32: 2022 Honpi Drilling – Targeting the Prize
2022 Honpi Drilling – Targeting the Prize Present Day 2023 | Irving Resources CNX: IRV | OTCQX: IRVRF 32
Slide 33: Omu Sinter Drilling
Omu Sinter Drilling 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 several long interc
Slide 34: Omu Sinter Results
Omu Sinter Results 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-003 356.10 357.40 1
Slide 35: Hokuryu CSAMT
Hokuryu CSAMT 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 and will be completed in summer 2022. Fir
Slide 36: 2021 Hokuryu Drill Results
2021 Hokuryu Drill Results 2023 | Irving Resources CNX: IRV | OTCQX: IRVRF 36
Slide 37: Kyushu Projects: Yamagano Mine & Satsuma
Kyushu Projects: Yamagano Mine & Satsuma • Past producing Yamagano Mine License (5.25 sq. km.) and East Yamagano (6.2 sq. km.) mineral 11 km prospecting licenses located 11 kms south of world class Hishikari mine • Satsuma (107.13 sq. km.) mineral 11 km prospecting licenses 2023 | Irving Resources C
Slide 38: Yamagano Mine Map
Yamagano Mine Map • Yamagano mine veins & underground Exploration workings map potential • Reported gold production of 300 years Exploration • No modern-day exploration completed at potential Yamagano including drilling Veins 2023 | Irving Resources CNX: IRV | OTCQX: IRVRF 38
Slide 39: Noto Projects
Noto Projects 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 2023 | Irving Resources CNX: IRV | OTC
Slide 40: Irving’s 2023 Exploration Plans
Irving’s 2023 Exploration Plans 2023 Omu program: Aggressive Phase IV drilling at Omui (Winter thru Fall) Phase IV drilling at Omu Sinter (Spring) Phase II drilling at Hokuryu (Spring and Summer) Maiden drilling at Maruyama (Summer and Fall) 2023 Yamagano program: Currently reviewing CSAMT/AMT condu
Slide 41: CNX: IRV | OTCQX: IRVRF
CNX: IRV | OTCQX: IRVRF email: [email protected] Phone: 1-604-682-3234 2023 | Irving Resources CNX: IRV | OTCQX: IRVRF 41 41
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