Irving Resources Inc.
CNSX : IRV

May 17, 2016 09:00 ET

Irving Resources Inc.: Tanzania Update

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 17, 2016) - Irving Resources Inc. (CSE:IRV) ("Irving" or the "Company") is pleased to announce the Tanzanian Ministry of Energy and Metals has recently approved two new prospecting applications. The two new prospecting licenses, PL10815/2016 and PL10800/2016, are in the same area as the existing Kimagai and Mlali licenses and bring the total number of concessions subject to the Mpwapwa Joint Venture to four for a total land area of approximately 198 square km. Irving has a 33% contributing interest in the Mpwapwa Joint Venture with the Japanese Oil, Gas and Metals National Corporation (JOGMEC) holding the balance.

The Mpwapwa Joint Venture was formed to explore for copper-silver-gold (Cu-Ag-Au) mineralization in a poorly explored part of north central Tanzania. Artisinal miners exploit high-grade oxide Cu deposits in small pits scattered across the region. Below the level of oxidation, primary Cu, Ag and Au mineralization consists of disseminated to massive chalcopyrite and bornite, both copper bearing sulfide minerals, hosted by amphibolites.

In November and December, 2015, JOGMEC undertook systematic laterite soil sampling, rock chip sampling and reconnaissance scale mapping at Kimagai and Mlali. Soil samples from Kimagai define a copper anomaly covering about three sq km with values ranging from 70-577 ppm. Similar reconnaissance level exploration work is being planned on the two new concessions in 2016.

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 Director of Irving Resources Inc.

Soil samples discussed in this news release were collected under the supervision of JOGMEC geologists. Samples were obtained using hand augers and were submitted to ALS Tanzania Ltd. for analysis. Samples were crushed, pulverized and analyzed by mass spectrometry following three acid digestion.

Irving, through a subsidiary, holds a Project Venture Agreement with JOGMEC for joint regional exploration programs in the United Republic of Tanzania and the Republic of Malawi.

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 & Director

Forward-looking information

Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, statements as to the expected receipt of analytical results from various exploration and testing activities undertaken in November and December 2015, and the expected commencement of reconnaissance level exploration work. 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 as well as Irving having sufficient cash to fund the planned drilling and other exploration activities.

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

Contact Information

  • Irving Resources Inc.
    Tel: (604) 682-3234
    Toll free: 1 (888) 242-3234
    (604) 682-0537 (FAX)
    info@IRVresources.com