VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCBB: VRRCF), the
"
Company", or “
VR”, is pleased to
announce that drilling is now underway at its Silverback
copper-gold project in northwestern Ontario.
The first hole, SB25-003, is at the southern end
of the highest priority, Central Zone (CZ) IP chargeability anomaly
shown on plan map and section in Figure 1. The
drill set up in the field this past weekend is shown in
Photo 1.
Pad building activities at both SB25-003 &
004, shown on Figure 1, have revealed evidence of shearing,
hydrothermal alteration, and sulfides for the first time in this
area of glacial cover. A porphyry intrusion and disseminated
sulfides in carbonate altered gabbro wall-rock have also been noted
at the pad area planned for SB25-004, at the north end of the CZ
anomaly east of the main copper-gold showing.
Overall, this phase of drilling at Silverback
will focus on two target types: shear zone hosted
copper-gold-silver mineralization along north-northeast trending
structures evident in our magnetic data, and a common host for gold
in the Marmion Terrane; and intrusion-related mineralization first
observed in a weakly sheared, gold-bearing porphyry intrusion
intersected in Hole 2 completed earlier in 2024 (see location in
Figure 1).
From VR's CEO Justin Daley: “We’re excited to
have the drill back at Silverback to test chargeability anomalies
in our new 3D DCIP data received in December of last year.
Most important is the CZ anomaly in the center
of the project. It is 1,200m long by 300m wide, and is coincident
with mapped structures and high-grade copper, gold, and silver in
sheared rocks exposed on surface. The first few drill holes at CZ
are planned as a widely spaced fence to target areas along the 1.2
km long anomaly where there is a strong near-surface expression of
the IP chargeability and associated with local DIGHEM
conductors.
The CZ anomaly is both large, and robust; it
integrates with surface showings of polymetallic copper-gold
mineralization, structural mapping of shearing, and magnetic,
DIGEHEM conductivity and IP resistivity geophysical data. We intend
to adjust our planned drilling based on what we see and learn in
each hole, and look forward to providing further updates as our
drilling progresses.”
Central Zone (CZ) Target
- CZ is the largest anomaly in the
DCIP survey completed last fall at Silverback. It is roughly 1,200m
long by 300m wide, and located in the center of the project area
(Figure 1). It follows a NNE trending structural break evident in
our high-resolution magnetic data and shown in Figure 1. This
structure and its splays are associated with outcrops of sheared
gabbro with high-grade copper-gold mineralization, and with the
occurrence of molybdenite on fractures (Photo
2).
- The magnetic response of the
east-west trending mafic body is much lower across the IP anomaly,
possibly due to demagnetization from hydrothermal alteration along
the Central Zone structure.
- Beyond the 1,200m long IP anomaly,
the Central Zone structure continues northward as evidenced by
near-surface DIGHEM conductivity anomalies. These may be the result
of clay alteration associated with mineralization, as observed in
Hole 2 completed last spring.
Figure 1. Plan map (upper) and
north-south section (lower) of the recent 3D array DCIP survey at
Silverback, with locations for drill holes completed in the spring
of 2024, and for those planned and now underway in 2025. The plan
map shows IP isoshells at 12.5 mV/V (orange) and 15 mV/V (red) on a
basemap with inferred shear-zones and outline of the mafic dykes
and intrusions with copper-nickel sulfides, which span the entire
property. The central and largest IP anomaly correlates with the
strongest shear-fabrics observed in outcrop, and magnetic
destruction evident in the gap in magnetic contours on the plan map
and potentially the result of hydrothermal alteration.
Photo 1. Drill setup for the
first hole of the 2025 reconnaissance drill program at Silverback
(drill site SB25-003 on the map in Figure 1).
About the Silverback Project
The project consists of 71 mineral claims in one contiguous
block covering 4,442 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 (i.e. mineral
assessment reports) in order to maintain a mineral claim in good
standing. The Properties fall within the Lac de Mille Lac First
Nation traditional territories.
Photo 2. Examples of
copper/gold mineralization found across the Silverback project
related to an inferred intrusion-related source (refer to map in
Figure 1 for location of zones). A: Remobilized
copper, gold and silver mineralization in shear zone outcrop with
strong silicification at Central Zone. B: Gold
mineralized interval of weakly sheared porphyry intrusion at 95m
depth in Hole 002 in the West Dyke zone, with quartz-carbonate
veining and clay-sericite alteration. C:
Quartz-carbonate veining with sulfides recently discovered in the
North Arm zone within a dislocated extension of the east-trending
mafic intrusion, and with the exact same habit and texture as those
in Hole 2 located more than 2,500m to the west.
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 who 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 expectations that it will complete a drill program
at Silverback, 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; 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.
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.
Photos accompanying this announcement are available
at
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