Irving Resources, Inc. · CSE:IRV
Irving Resources — Investor Presentation (January 2020)
36 slides from Irving Resources's investor presentation, Jan 17, 2020
Slide 1: High-Grade Gold in Japan
High-Grade Gold in Japan “A Unique Opportunity, A Unique Strategy” www.irvresources.com IRV:CNX|IRVRF:OTC January 17, 2020 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 of the
Slide 2: Disclaimer
Disclaimer IRV:CNX 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 statement
Slide 3: Capital Structure
Capital Structure IRV:CNX Capital Structure (January 2020): Shares Outstanding: 53,393,994 Options Outstanding: 3,958,334 (Directors, Officers, Employees and Consultants) Warrants Outstanding: 942,641 942,641 at C$1.75 – November 26, 2020 Issued Shares – Fully Diluted: 58,294,969 Management/Director
Slide 4: Directors, Management, Advisors
Directors, Management, Advisors IRV:CNX Akiko Levinson, President, CEO, Director – Ms. Akiko Levinson has over 20 years of experience in the junior mining market including mining finance and ‘end-to-end’ rare earth mineral investment. Ms. Levinson was previously the President and a director of Gold
Slide 5: Working in Japan
Working in Japan IRV:CNX Working in Japan is all about building relations and trust. Irving is uniquely qualified to explore in Japan: • Our team is mostly Japanese. • Mitsui Mineral Development Engineering Co., Ltd. (“MINDECO”) is our lead contractor. • Built a long-standing relationship with Japan
Slide 6: Gold Mining in Japan
Gold Mining in Japan IRV:CNX • Since the beginning of the Edo period (1601), over 20 Moz of gold have been produced from Japanese gold mines…the top five being Hishikari, Sado, Konomai, Kushikino and Taio. All of these mines exploit high- grade epithermal deposits. • Hishikari mine (Sumitomo Metal M
Slide 7: Modern Gold Mining in Japan
Modern Gold Mining in Japan IRV:CNX • 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). • H
Slide 8: Modern Gold Mining in Japan
Modern Gold Mining in Japan IRV:CNX • 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 undergro
Slide 9: Smelter Flux Industry in Japan
Smelter Flux Industry in Japan IRV:CNX • 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
Slide 10: Smelters in Japan
Smelters in Japan IRV:CNX Smelter operated Mine by a company Smelter operated by a joint venture (main investor) \ lilima (Dowa) Zn \ Naoshima (Mitsubishi) Cu Tamano (PPC) Cu ) \ \ : aoa’ Ikuno (Mitsubishi)| Kamioka (Mitsui) Ca! \/ Sn me Pb, Zn rae . A Hachinohe (Taiheiyo) Ferronickel Takehara (Mits
Slide 11: Irving's Strategy
Irving’s Strategy IRV:CNX 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. • Depos
Slide 12: Low Sulfidation Epithermal (LSE) Veins
Low Sulfidation Epithermal (“LSE”) Veins IRV:CNX 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 (b
Slide 13: Hishikari
Hishikari IRV:CNX • 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 sulfosalts, and electrum (b
Slide 14: Hokkaido Model
Hokkaido Model IRV:CNX Sillitoe’s Model for exploration in Hokkaido based on Hishikari. 14
Slide 15: Irving's Japanese LSE Vein Projects
Irving’s Japanese LSE Vein Projects IRV:CNX Irving’s projects Irving has established five large LSE vein projects in northern Hokkaido: • Omu: 168.29 sq km (16,829 hectares) of prospecting licenses and license applications, the 2.98 sq km (298 hectares) Omui Mining Right, and 2.18 sq km (218 hectare
Slide 16: Irving's Omu Project
Irving’s Omu Project IRV:CNX Most of Irving’s recent exploration efforts have focused on Omu including: • Specialized stream sediment sampling (BLEG - bulk leach extractable gold) to identify mineralized areas. • Close-spaced gravity measurements to help evaluate the structural framework of the hydr
Slide 17: BLEG Results
BLEG Results IRV:CNX Gold: • Both the Omu and Hokuryu historic mining areas are well defined Residual downstream anomaly by BLEG gold results. • Gold anomalism extends to areas well east and southeast of the Omui mine site. • Gold anomalism covers a vast area surrounding the Hokuryu mine. 5 km 3 km
Slide 18: Gravity Results
Gravity Results IRV:CNX • Bouger gravity horizontal gradient clearly highlights major fault structures, ones that likely control the “plumbing” of the hydrothermal systems at Omu. • Graben-bounding structures are evident. Note that Omui mine and the Omu sinter are connected along faults defining the
Slide 19: Drone-based Magnetics
Drone-based Magnetics IRV:CNX • After recognizing the challenge of undertaking ground-based magnetics surveys in dense bamboo, the decision was made to develop a drone-based magnetics system in early June, 2017. • By September, MINDECO completed engineering and construction of a drone-based magnetic
Slide 20: Drone-based Magnetics
Drone-based Magnetics IRV:CNX • At Omui mine site, a plot of magnetic analytic signal shows a complex network of low magnetic intensity (blue) where hydrothermal alteration has obliterated traces of magnetite in volcanic rocks, a possible indication of vein systems at depth. • Note, the northwest-tr
Slide 21: Drone-based Magnetics
Drone-based Magnetics IRV:CNX • At Omu sinter, a plot of residual magnetic intensity shows a profound north- northeast trending zone of low magnetism (blue) where hydrothermal alteration has obliterated traces of magnetite in volcanic rocks. Irving views this zone as a robust target prospective for
Slide 22: Omu Sinter Drilling
Omu Sinter Drilling IRV:CNX Between mid-March and late July, 2019, Irving completed eight diamond drill holes at Omu Sinter targeting high- grade veins under the sinter terrace. Hole 19OMS-002 encountered 0.32 m grading 118.5 gpt Au and 1,410 gpt Ag, a stellar start for a previously unexplored hot s
Slide 23: Omu Sinter Drilling
Omu Sinter Drilling IRV:CNX Hole From (m) To (m) Length (m) Au (gpt) Ag (gpt) Au eq (gpt) Ag-to-Au ratio 19OMS-001 61.20 62.66 1.46 5.15 13.0 5.31 2.5 including 61.90 62.12 0.22 10.20 31.9 10.58 3.1 19OMS-002 183.75 191.92 8.17 5.40 105.9 6.68 19.6 including 184.39 185.72 1.33 29.77 575.7 36.71 19.3
Slide 24: Omu Sinter CSAMT
Omu Sinter CSAMT IRV:CNX Irving and Newmont undertook a controlled source audio- magnetotelluric (“CSAMT”) survey over Omu Sinter between June and July, 2019. Resistivity clearly shows the structural “plumbing” underlying the extinct hot spring. Irving’s initial drilling was not optimal given this s
Slide 25: Omu Sinter Targeting
Omu Sinter Targeting IRV:CNX 25
Slide 26: Omui Soil Sampling Results
Omui Soil Sampling Results IRV:CNX • 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. • A robust soil gold anomaly has emerged at Sakinyama. • Mineralization is open to the east. 1 km 26
Slide 27: High-Grade Veins at Omui
High-Grade Veins at Omui IRV:CNX Vein textures including implosion breccias, poly-stage vein formation and cross-cutting veins suggest mineralization at Honpi formed in a dynamic near-surface setting. Honpi is the main vein mined at Omui. The big question is what is going on at depth?! Implosion bre
Slide 28: Omui CSAMT
Omui CSAMT IRV:CNX CSAMT at Omui 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 seri
Slide 29: Omui Drilling
Omui Drilling IRV:CNX Holes 19OMI-001 through 19OMI-007 and 19OMI-009 tested for shallow high- grade veins. Hole 19OMI-008 test the Sakinyama target. Hole 19OMI-010 is the first deep test of the main vein zone at the boiling level. This hole encountered multiple veins with ginguro and electrum. Assa
Slide 30: Omui Drilling
Omui Drilling IRV:CNX Results for holes 19OMI-001 and 19OMI-002 have returned. Assays for holes 19OMI-003 though 19OMI-010 are awaited. 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 19.57 45.92 47.00 1.08 4.38 6.15 4.45 including 45.92 46.50 0.58
Slide 31: High-Grade Veins at Hokuryu
High-Grade Veins at Hokuryu IRV:CNX Samples collected from the Hokuryu mine site display high gold and silver grades. Veins are well-banded with ginguro, and probably formed at a deeper level than those at the Omui mine site. Areas around Hokuryu are virtually unexplored. Hokuryu vein, 51.4 gpt Au,
Slide 32: Hokuryu Vein Material
Hokuryu Vein Material IRV:CNX 32
Slide 33: Hokuryu CSAMT
Hokuryu CSAMT IRV:CNX CSAMT at Hokuryu displays a prominent resistive structure trending E-SE and open to the east. Mine workings only occupy a small area, so Irving believes there are many more veins to be found here. 33
Slide 34: Hokuryu North - Maruyama
Hokuryu North - Maruyama IRV:CNX Omu Sinter Erosion Hokuryu West Hokuryu Mine 2.5 km Omui Mine 34
Slide 35: Irving's 2020 Omu Exploration Plans
Irving’s 2020 Omu Exploration Plans IRV:CNX ➢ Irving’s 2020 Omu exploration program includes: ➢ Follow up drilling at Omu Sinter. (Winter and Spring) ➢ Follow up drilling at Omui. (Spring through Fall) ➢ Complete bulk sampling at the Omui mining license. Bulk sample will be shipped to Kushikino mill
Slide 36: IRV:CNX
IRV:CNX email: [email protected] Phone: 1-604-682-3234 36
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