VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCQB: VRRCF), the
"
Company,” or “
VR,” is pleased to
report that is has received all of the rock and mineral chemistry
data from drilling this summer on its Reveille silver-copper
project in west-central Nevada.
- silver is
confirmed in the large G1 breccia pipe, up to
97.9 g/t;
- gold is
confirmed over a 40m interval within the broad, 150 m pyrite
intersections at Kawich;
-
Kawich is confirmed as the potential porphyry
center driving Reveille based on a clear, high temperature,
copper-moly-tungsten-antimony geochemical signature of the
gold-bearing pyrite alteration zone;
- the property has
been expanded westward to cover the entirety of the Kawich target
area, and eastward to cover an EM conductor not previously explored
and targeted for a covered copper-silver manto.
From VR’s CEO, Dr. Michael Gunning, “We are
pleased to have the first-pass drilling of our primary targets at
Reveille completed. Both G1 and Kawich are new discoveries; they
expand the breadth of the Reveille system westward from the exposed
range where the historic workings are located, and they confirm the
presence of a hydrothermal gold overprint in the district. But
perhaps most importantly, there is a high temperature, base metal
signature for the broad, gold-bearing pyrite alteration facies at
Kawich which demonstrates its potential as a large-scale porphyry
center and driver for Reveille, which is what we came to this
historic district to explore for.
The figures and photos which follow in the body
of this news release will illustrate for you the key findings from
the first-pass drilling completed so far at Reveille, and also the
lay of the land with regard to our expansion of the property to
cover more of the polymetallic and high temperature mineral system
at Reveille.
We will take the next few months to fully
integrate and fully interpret an extremely large data set from the
continuous geochemical sampling and hyperspectral scanning of all
nine drill holes completed this year in order to formulate the
right follow-up plan for 2022. We anticipate the focus to be on the
large, gold-bearing pyrite alteration system at Kawich given its
sheer size, and the clarity of the high-temperature geochemical and
hyperspectral mineral vectors towards Kawich which are already
evident from the first-pass analysis of the data.
In the meantime, we are back on the ground
completing reconnaissance soil sampling and prospecting on the
newly staked, buried conductor named “Big Apple” on the east side
of the range that was discovered by our high resolution airborne EM
survey completed last year. There is no previous exploration in the
area of Tertiary volcanic cover. The silver-bearing breccia body at
G1 was discovered as the result of integrating a wide array of data
from airborne and ground geophysics, soil and rock geochemistry and
stratigraphic and structural relationships from mapping. In
isolation, however, the new Big Apple target on the east side of
the range is the single-strongest conductive feature in the entire
survey block from 2020. With that, we will integrate data from
mapping and rock and soil sampling completed this month to refine
the targeting around the Big Apple conductor and include it in our
prioritization of work for next year on Kawich and G1.
On a broader note, the Company continues with
its core strategy for 2021 to complete drill programs on its three
highest priority properties and targets, namely Reveille and Amsel
in Nevada and Hecla-Kilmer (“H-K”) in northern Ontario. The drill
is currently turning on the copper-gold hydrothermal breccia target
at H-K, and we continue to plan for a drill program later this fall
on our Amsel gold property in Nevada, pending receipt of our drill
permit. We look forward to providing further updates as our
exploration continues towards realizing for our shareholders the
upside potential of blue-sky discovery on any number of these
properties.”
Reveille Drilling Summary and
Results
Figure 1. Eight RC drill holes
and one diamond drill hole were completed on and around the G1 and
Kawich targets on the covered, western flank of the Reveille range
in 2021, for a total of 2,987 metres. Continuous
geochemical sampling was completed on each hole, for a total of
2,187 samples. The Company has data for gold by
fire assay, and for 62 elements by ICP-MS.
- Diamond drill hole RVD21-001
intersected continuous broken ground over 110m through a
diatreme-like breccia body. The hole did not determine the bottom;
it ended in breccia due to difficult drilling.
- Photo 1 shows the
variety of breccia textures at G1, which overprint all lithologic
units.
- The drill hole contains
2.4m @ 30.7 g/t silver, including 0.61 m @
97.9 g/t silver.
- Photo 2 shows the
breccia recovered in the core rubble through the silver-bearing
interval.
- The hole was terminated in breccia,
with 0.61 m @ 11.75 g/t silver at the bottom.
- Figure
2 shows the strong correlation of silver to the high
temperature base metal signature of copper-moly-tungsten at G1, and
also the correlation to the sulfide alteration signature of
arsenic-antimony.
- Figure
2 also shows the introduction of hydrothermal gold into
the G1 breccia over a length of 42 m; it correlates with, but
overprints and extends beyond the polymetallic interval with
silver.
- Introduction of hydrothermal gold is also evident over a 90m
interval in the RC hole RV20-006, with a maximum of 176 ppb gold
over 5ft, and above detection limit in nearly the entire hole.
- Hole 006 targeted the roots of the G1 breccia body
approximately 130 m to the west of diamond drill hole RVD21-001
located on the ridge.
- Figure
3 shows the stratigraphic and structural control of
brecciation and mineralization at G1.
- Figure
4 shows the breadth of the gold anomaly at Kawich.
Hydrothermal gold is introduced over approximately 40 m of core in
RC drill hole RV20-007, from 167 to 301 m, with up to 28 ppb Au. It
is associated with secondary pyrite alteration hosted in dark grey,
decalcified lime mudstone. Gold also occurs in the basal part of
overlying Tertiary volcanic cover, which served as a fluid cap to
the fluid system and is thus pervasively altered.
Figure 5 shows the high
temperature vector in geochemical data, for example,
molybdenum, which increases from the western flank
of the range towards the Kawich anomaly in the covered valley. The
same vector is evident in alteration mineral data obtained from the
continuous hyperspectral scanning of each drill hole, in its
entirety. For example, Figure 6 shows the vector
of increasing high temperature potassium clay
minerals from the western flank of the range towards Kawich.
Kawich was not explored during the previous 140
year history of prospecting in the district, yet this drilling
confirms its potential as a porphyry center and overall driver of
the polymetallic mineral system at Reveille.
Technical Information
Summary technical and geological information for
the Company’s various exploration properties is available at the
Company’s website at www.vrr.ca.
VR submits all surface grab samples and/or drill
samples collected from Nevada-based exploration projects for
geochemical analysis to the ALS Global (“ALS”) laboratory in Reno,
Nevada. Sample preparation is completed in Reno. Analytical work
includes ICP-MS analyses for base metals and trace elements
completed at the ALS laboratories located in Vancouver, BC., and
gold determination by fire assay atomic absorption spectrometry
completed at facilities in Reno, Nevada. Analytical results are
subject to industry-standard and NI 43-101
compliant QAQC sample procedures at the
laboratory, as described by ALS, and with standard, duplicate and
blank samples inserted internally by VR.
Technical information for this news release has
been prepared in accordance with the Canadian regulatory
requirements set out in National Instrument 43-101. Justin Daley,
P.Geo., Exploration Manager & Chief Geologist at VR and a
non-independent Qualified Person oversees and/or participates in
all aspects of the Company’s mineral exploration projects and has
reviewed the content of this news release. The Company’s CEO, Dr.
Michael Gunning, P.Geo., is also a non-independent Qualified
Person.
About the Reveille Property
The Reveille property is located approximately
90 km east of Tonopah, Nevada. Access is via Highway 6, with local
roads and trails in and around the property itself.
The Reveille property now consists of 128
mineral claims in one contiguous block covering 2,619 acres (1,059
hectares) over an area of approximately 2 x 5.5 km. The property is
on federal land administered by the BLM, and is outside of the
BLM’s broadly defined area of sage grouse protection. There are no
underlying annual lease payments on the property, nor are there any
joint venture or carried interests on the property. There is an
industry-standard royalty attached to the property, with a standard
buy-back provision to VR.
About VR Resources
VR is an established junior exploration company
focused on greenfields opportunities in copper and precious metals
(TSX.V: VRR; Frankfurt: 5VR; OTCQB: VRRCF). VR is the continuance
of 4 years of active exploration in Nevada by a Vancouver-based
private company. The diverse experience and proven track record of
its Board in early-stage exploration, discovery and M&A is the
foundation of VR. The Company focuses on underexplored,
large-footprint mineral systems in the western United States and
Canada, and is well financed for its exploration strategies and
corporate obligations. VR owns its properties outright, and
evaluates new opportunities on an ongoing basis, whether by staking
or acquisition.
The Company continues its normal course of
business in 2021 within the framework of modified exploration
programs in response to the COVID-19 pandemic, with the goal of
ensuring the health and safety of staff and project personnel.
ON BEHALF OF THE BOARD OF DIRECTORS:
“Michael H.
Gunning”____________________________Dr.
Michael H. Gunning, PhD, PGeoPresident & CEO
For general information please use the following:
Website: |
www.vrr.ca |
Email: |
info@vrr.ca |
Phone: |
604-262-1104 |
Forward Looking Statements
This press release contains forward-looking statements.
Forward-looking statements are typically identified by words such
as: believe, expect, anticipate, intend, estimate, postulate and
similar expressions or are those which, by their nature, refer to
future events. Forward looking statements in this release include
“In the meantime, we are already back on the ground completing
reconnaissance work on the newly staked, buried conductor named
“Big Apple” on the east side of the range …”, “follow-up work in
2022 will continue to evaluate targets in this area as the
potential central driver and proximal source of the overall
polymetallic mineral system at Reveille…”, and “VR evaluates new
opportunities on an ongoing basis, whether by staking or
acquisition.”
This news release contains statements and/or information with
respect to mineral properties and/or deposits which are adjacent to
and/or potentially similar to the Company’s mineral properties, but
which the Company has no interest in nor rights to explore. Readers
are cautioned that mineral deposits on adjacent or similar
properties are not necessarily indicative of mineral deposits on
the Company’s properties.
Although the Company believes that the use of such statements is
reasonable, there can be no assurance that such statements will
prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements. The
Company cautions investors that any forward-looking statements by
the Company are not guarantees of future performance, and that
actual results may differ materially from those in forward-looking
statements. Trading in the securities of the Company should be
considered highly speculative. Readers should review all of the
Company’s public disclosure filings available at www.sedar.com.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in Policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release
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