VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCBB: VRRCF), the
"
Company", or “
VR”, is underway
on the fourth hole of the Phase 1, reconnaissance drill program on
the 1 x 2 km magnetic anomaly at Westwood, part of the Empire
District Project in Northwestern Ontario.
- The first few core boxes in Hole
004 confirm that the target mafic-ultramafic rock with magmatic
sulfide shown in Photo 1 below is present on the
opposing side of the complex from the intersection in Hole 002 some
800 m away.
First though, WW24-003, completed to 141m was
drilled to target a small chargeability anomaly along the magnetic
trend with the highway showing 300m to the southwest, as well as to
streamline project logistics for moving the drill to the opposing
side of the Westwood magnetic anomaly for Hole 004. Drilling Hole
003 intersected the same leucogabbro that dominated Hole 1 and the
top of Hole 2, along with sulfide-bearing mafic magma mixing
zones.
Hole 004 now underway is an 800m step out from
Hole 2 and has collared into the same coarse mafic-ultramafic rock
(Photo 1) with disseminated sulfide. As shown on
the plan map in Figure 1, it is on the footwall
side of the steeply southeast-dipping polyphase intrusive complex
from Hole 002. Magnetic susceptibility readings on drill core are
relatively low for the target mafic intrusive, but it occurs near
magnetite-rich rocks. Consequently, we are using shallowly inclined
holes to successfully target magnetic gradients on 1VD maps around
the large magnetic anomaly, in conjunction with EM conductivity and
IP chargeability anomalies.
As shown in the lower profile in Figure
1, the mafic intrusion boundaries are inferred from the
DCIP resistivity/conductivity on Line 2, labeled as “deeply
weathering mafic rock”, and correlates well with the conductivity
anomaly from the independent DIGEM airborne survey completed last
winter, in December 2023. The same is true on DCIP Line 1, with
Hole 002 having cut over 350m of mafic-ultramafic rock with
variable magmatic sulfide in a similar coincidence of DCIP
conductivity and DIGEM conductivity, with deep IP chargeability
below.
From VR's CEO Justin Daley: “The goal for first
pass reconnaissance drilling at the Westwood target was to prove
the concept for a large and fertile mafic-ultramafic complex, and
it is exciting to see in the first few boxes of this hole the same
mafic rock with sulfide that we saw in Hole 002 on the other side
of the multiphase intrusive complex. We are now working to expand
our understanding for geophysical controls on this coarse mafic
rock that we see in the highway showing, and now in Holes 2 and 4
some 800m apart.
“The drilling so far at Empire has relied on
straightforward logistics afforded by the nearby Trans Canada
highway, and despite rapidly changing weather at the onset of
winter, we remain on track to finish this program on time and on
budget. We look forward to providing further updates as we complete
this drill program.”
Photo 1. (Upper) drill pad
setup at northwest margin of Westwood Complex for Hole 004. (Lower)
Megacrystic amphibole with pale interstitial melt segregations and
local sulfide has been intersected in the top 30m of WW24-004 on
the west margin of the Westwood intrusive complex. The rock is
similar in texture to the mineralized highway showing and the
mafic-ultramafic interval dominating Hole 002 some 800 m away. The
coarse and elongate crystal habits of amphibole are characteristic
of this rock unit and suggest a ‘quenching’ process during
crystallization of an immiscible fluid, which is commonly targeted
in exploration for magmatic sulfide mineralization in Ontario.
Figure 1. Drill hole locations
shown on a total magnetic intensity map for the Westwood target at
the Empire Project, with highway exposure sample location, overlain
900Hz airborne DIGEM anomalies, and completed IP section lines. The
lower panels highlight the direct correlation of chargeability and
near surface conductivity with the magnetic response over the
inferred mafic-ultramafic intrusion.
About the Empire ProjectThe Empire project
consists of 313 mineral claims in 1 contiguous block covering
10,254 hectares. The project is located on Federal
crown land, with mineral rights administered by the Ontario
Ministry of Mines. There is a 2% net smelter royalty on the claims.
There are no annual payments, but the Ministry requires certain
annual exploration expenditures and reporting (ie. mineral
assessment reports) in order to maintain a mineral claim in good
standing. The project falls within the Lac de Mille Lacs First
Nation traditional territories.
Technical InformationSurface grab samples and
drill core samples were submitted for geochemical analysis to the
AGAT laboratory in Thunder Bay, Ontario. Drill core was logged, cut
and sampled at the Holbik Exploration warehouse in Upsala, Ontario,
with sample preparation completed by AGAT in Thunder Bay alongside
gold and PGE determination by atomic absorption assay. ICP-MS
analyses for base metals, whole rock, and trace elements is
performed at AGAT’s laboratory in Calgary, AB. Analytical results
are subject to industry-standard and NI 43-101 compliant QAQC
sample procedures, including the systematic insertion of sample
duplicates, blanks and certified reference material (CRM) done both
externally and internally at the laboratory by AGAT, as described
by AGAT.
Technical information for this news release has
been prepared in accordance with the Canadian regulatory
requirements set out in National Instrument 43-101. The content of
this news release has been reviewed on behalf of the Company by
Justin Daley, MSc, PGeo, President & CEO at VR, and a
non-independent Qualified Person, oversees and/or participates in
all aspects of the Company’s mineral exploration projects.
About VR Resources Ltd.VR is an established
junior exploration company based in Vancouver (TSX.V: VRR;
Frankfurt: 5VR; OTCQB: VRRCF). VR evaluates, explores and advances
opportunities in copper, gold and critical metals in Nevada, USA,
and Ontario, Canada. VR applies modern exploration technologies,
in-house experience, and expertise in greenfields exploration to
large-footprint systems in underexplored areas/districts. The
foundation of VR is the proven track record of its Board in
early-stage exploration, discovery and M&A. The Company is
financed for its mineral exploration and corporate obligations. VR
owns its projects outright and evaluates new opportunities on an
ongoing basis, whether by staking or acquisition.
ON BEHALF OF THE BOARD OF DIRECTORS:
“Justin Daley”
Justin Daley, MSc, P.GeoPresident & CEO
For general information please use the following:
Website: |
www.vrr.ca |
Email: |
info@vrr.ca |
Phone: |
778-731-9292 |
|
|
Forward Looking Statements
This news release contains statements that
constitute "forward-looking statements". Such forward looking
statements involve known and unknown risks, uncertainties and other
factors that may cause the Company’s actual results, performance or
achievements, or developments in the industry to differ materially
from the anticipated results, performance or achievements expressed
or implied by such forward-looking statements. Forward-looking
statements are statements that are not historical facts and are
generally, but not always, identified by the words "expects,"
"plans," "anticipates," "believes," "intends," "estimates,"
"projects," "potential" and similar expressions, or that events or
conditions "will," "would," "may," "could" or "should" occur.
Forward-looking statements in this document include statements
concerning VR’s plans for near-term drilling on the properties this
winter, and all other statements that are not statements of
historical fact.
Although the Company believes the
forward-looking information contained in this news release is
reasonable based on information available on the date hereof, by
their nature forward-looking statements involve assumptions, known
and unknown risks, uncertainties and other factors which may cause
our actual results, performance or achievements, or other future
events, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements.
Examples of such assumptions, risks and
uncertainties include, without limitation, assumptions, risks and
uncertainties associated with general economic conditions; adverse
industry events; future legislative and regulatory developments in
the mining sector; the Company’s ability to access sufficient
capital from internal and external sources, and/or inability to
access sufficient capital on favorable terms; mining industry and
markets in Canada and generally; the ability of the Company to
implement its business strategies; competition; and other
assumptions, risks and uncertainties.
The forward-looking information contained in
this news release represents the expectations of the Company as of
the date of this news release and, accordingly, is subject to
change after such date. Readers should not place undue importance
on forward-looking information and should not rely upon this
information as of any other date. While the company may elect to,
it does not undertake to update this information at any particular
time except as required in accordance with applicable laws.
This news release may also contain 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 similar properties are not necessarily indicative of
mineral deposits on the Company’s properties.
Trading in the securities of the Company should
be considered highly speculative. All of the Company’s public
disclosure filings may be accessed via www.sedarplus.ca and readers
are urged to review them.
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adequacy or accuracy of this release
Photos accompanying this announcement are available
at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/3119efd5-197a-4489-8881-ce9330e685eb
https://www.globenewswire.com/NewsRoom/AttachmentNg/28c970bf-f38f-45b2-9f73-9f0be19714c2
VR Resources (TSXV:VRR)
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