VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCQB: VRRCF), the
"
Company", or “
VR”, has received
the assay data from the first two drill holes from the recently
completed third drill program at its Hecla-Kilmer (“H-K”) property
located in northern Ontario. New critical metal intersections are
highlighted below. Results for the six remaining holes are expected
over the next 2 – 4 weeks.
- 80 metres at 0.67% TREO
within 131 metres at 0.41% TREO in Hole HK22-010;
- 13 metres at 0.94% TREO within 88 metres at 0.50% TREO
in Hole HK22-011.
Individual one metre samples from the 13 metre intersection in
Hole 11 contain up to 2.3% TREO (Total Rare Earth
Oxide), up to 39.1%
Fe2O3,
and up to 11.2%
P2O5.
Table 1. Summary of the broad intersections of
Critical Metals made to date at Hecla-Kilmer.
Figure 1. Plan map with the
location of all 17 drill holes completed in the first three drill
programs at Hecla-Kilmer, plotted on an RTP magnetic basemap
covering the entire complex.
Figure 2. Drill hole locations and key Critical
Metal intersections in the northwestern portion of H-K, plotted on
a 1VD magnetic map derived from the ultra- high resolution drone
survey completed in 2022.
Figure 3. Down-hole geochemical plot from drill
hole HK22-010 and HK22-011 showing the polymetallic nature of the
131 and 88 metre intersections of Critical Metals respectively,
including light and medium-heavy REE’s, and niobium and
tantalum.
Drill core photos in Figure 4 and
Figure 5 are from the 88 metre intersection in
Hole 11. Hydrothermal veins of fluorite and apatite host REE’s at
H-K, and they commonly occur within a potassic alteration mineral
assemblage that is dominated by magnetite and which completely
replaces the host rock.
From VR’s CEO, Dr. Michael Gunning, “These new data confirm the
potential for a large volume of Critical Metals in the polymetallic
breccia system discovered at Hecla-Kilmer by VR.
“Scale is important. VR has now confirmed REE’s and critical
metals in 7 of 11 drill holes at Hecla-Kilmer, over intervals
ranging from 50 to 299 metres, with total REE concentrations of
0.5% on average, and up to 2.3 % TREO. Mineralization spans an
area of approximately 700 x 1000 metres in the northwestern part of
the complex, extending from the base of till at 42 metres in Hole 4
to more than 600 metres depth in Hole 2.
“Composition is also important. The ratio of up to 20% MH-TREO
(middle and heavy Rare Earth Oxide) within the 13 metre
intersection of 0.94 % TREO (total Rare Earth Oxide) in Hole 11 is
more than double compared to the intersections in previous
drilling. The heavy REE’s Dysprosium and Terbium are more valuable,
fore example, because they are essential in the production of
permanent magnets used in electric vehicles and wind energy
turbines.
“This new drilling also confirms the polymetallic nature of the
hydrothermal breccia system at H-K. The intersection of 0.27% Nb
over 80 metres in Hole 10 compliments the 237 metres @ 0.2% Nb in
Hole 5 from last year, with TREO of 0.5 - 0.67 % on average across
the broad intersections, and up to 1.7%.
“Hydrothermal breccia and high temperature alteration at H-K are
controlled by structures. As shown on the RTP magnetic map in
Figure 2, mineralization is now evident on both sides of the main
north-south fault with anomalous gold values, and along a strike
length of more than 500 metres. Further, the new intersection in
Hole 11 shows that the opposing east-west fault is also
mineralized, with data pending for Holes 13 (vertical), 14, and 17
located farther to the west. In addition, the magnetic anomalies
located some 1,000 metres farther to the east along strike of this
fault have yet to be drilled (see Figure 1).
“Drill core samples were submitted to the laboratories in
sequence, as the holes were completed, so we now anticipate
receiving the remainder of our data over the next four weeks, or
so. The potassic alteration and hydrothermal veins and breccia
which host the mineralization reported herein for Holes 10 and 11
are evident to the same extent in Holes 13, 14 and 17.
“The potential of this discovery lies in the
polymetallic nature of the intersections made to date, and the
sheer scale of the hydrothermal breccia system both laterally and
vertically. The relevance of H-K to the rapidly developing critical
metal strategies of governments across North America underscores
its potential value to VR, and we look forward to providing further
updates as new data are received.”
Table 1: REE and Critical Metal
Intersections, Hecla-Kilmer
Drill hole |
Released |
From (m) |
To(m) |
Length (m) |
TREO(1) (%) |
MHREO(2) (%) |
MH-T(3) |
Li2O (ppm) |
Nb2O5 (%) |
Ta2O5 (ppm) |
ThO2 (ppm) |
HK22-011 |
New |
227 |
315 |
88 |
0.50 |
0.11 |
21 |
% |
207 |
0.12 |
23.7 |
165 |
including |
New |
276 |
289 |
13 |
0.94 |
0.19 |
20 |
% |
1404 |
0.11 |
23.9 |
190 |
|
|
|
|
|
|
|
|
|
|
|
|
HK22-010 |
New |
86 |
217 |
131 |
0.41 |
0.04 |
12 |
% |
124 |
0.16 |
37.8 |
257 |
including |
New |
86 |
166.07 |
80.07 |
0.67 |
0.07 |
20 |
% |
202 |
0.27 |
61.9 |
420 |
|
|
|
|
|
|
|
|
|
|
|
|
HK21-008 |
NR-21-25 |
144 |
179 |
35 |
0.42 |
0.03 |
9.1 |
% |
176 |
0.18 |
14.6 |
111 |
and |
NR-21-25 |
237 |
357 |
120 |
0.58 |
0.04 |
8.2 |
% |
101 |
0.20 |
21.6 |
147 |
including |
NR-21-25 |
305 |
342 |
37 |
0.74 |
0.05 |
7.6 |
% |
89 |
0.32 |
36.9 |
229 |
including |
NR-21-25 |
324 |
335 |
11 |
0.79 |
0.05 |
6.6 |
% |
108 |
0.41 |
49.7 |
269 |
|
|
|
|
|
|
|
|
|
|
|
|
HK21-009 |
NR-21-25 |
88 |
95 |
7 |
1.02 |
0.09 |
10.7 |
% |
507 |
0.13 |
22.0 |
152 |
and |
NR-21-25 |
120 |
272.15 |
152.15 |
0.54 |
0.05 |
10.1 |
% |
340 |
0.09 |
14.2 |
110 |
including |
NR-21-25 |
120 |
129 |
9 |
0.97 |
0.09 |
9.2 |
% |
407 |
0.18 |
15.1 |
181 |
including |
NR-21-25 |
196 |
202 |
6 |
0.91 |
0.08 |
8.5 |
% |
420 |
0.07 |
11.0 |
380 |
including |
NR-21-25 |
242 |
262 |
20 |
0.80 |
0.07 |
10.0 |
% |
345 |
0.15 |
27.5 |
148 |
including |
NR-21-25 |
243 |
247 |
4 |
1.75 |
0.15 |
8.9 |
% |
318 |
0.34 |
58.0 |
386 |
|
|
|
|
|
|
|
|
|
|
|
|
HK21-005 |
NR-21-22 |
52 |
351.53 |
299.53 |
0.47 |
0.04 |
8.6 |
% |
94 |
0.18 |
23.8 |
135 |
including |
NR-21-22 |
80.75 |
318.21 |
237.46 |
0.49 |
0.04 |
8.2 |
% |
91 |
0.20 |
27.3 |
149 |
including |
NR-21-22 |
152 |
180 |
28 |
0.80 |
0.08 |
9.7 |
% |
72 |
0.17 |
26.5 |
252 |
including |
NR-21-22 |
156 |
159 |
3 |
1.70 |
0.18 |
10.3 |
% |
52 |
0.08 |
16.1 |
562 |
including |
NR-21-22 |
183 |
238 |
55 |
0.44 |
0.03 |
7.5 |
% |
106 |
0.23 |
25.4 |
123 |
including |
NR-21-22 |
186 |
190 |
4 |
0.61 |
0.04 |
6.9 |
% |
114 |
0.42 |
28.2 |
159 |
including |
NR-21-22 |
275 |
306 |
31 |
0.61 |
0.04 |
6.0 |
% |
102 |
0.31 |
33.4 |
215 |
including |
NR-21-22 |
299 |
306 |
7 |
0.86 |
0.06 |
6.6 |
% |
90 |
0.42 |
45.5 |
330 |
|
|
|
|
|
|
|
|
|
|
|
|
HK20-002 |
NR-21-17 |
159.60 |
183 |
23.4 |
0.63 |
0.06 |
9.9 |
% |
427 |
0.05 |
8.3 |
152 |
and |
NR-21-17 |
553 |
606 |
53.00 |
0.51 |
0.05 |
9.1 |
% |
130 |
0.12 |
17.1 |
390 |
including |
NR-21-17 |
566.65 |
585 |
18.35 |
0.67 |
0.07 |
9.4 |
% |
114 |
0.14 |
18.8 |
548 |
|
|
|
|
|
|
|
|
|
|
|
|
HK20-004 |
NR-21-20 |
40.30 |
98.40 |
58.10 |
0.38 |
0.04 |
11 |
% |
107 |
0.15 |
25.37 |
155 |
including |
NR-21-20 |
57 |
60.21 |
3.21 |
1.44 |
0.15 |
10 |
% |
119 |
0.17 |
25.20 |
438 |
including |
NR-21-20 |
67.23 |
78 |
10.77 |
0.35 |
0.04 |
11 |
% |
82 |
0.27 |
50.12 |
259 |
(1) TREO is
the summation of Ce2O3 + La2O3 + Pr2O3 + Nd2O3 + Sm2O3 + Eu2O3 +
Gd2O3 + Tb2O3 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 +
Y2O3 (2) MHREO
is the sum of the middle and heavy rare earth oxides (Sm2O3 + Eu2O3
+ Gd2O3 + Tb2O3 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 +
Y2O3) (3) MH-T
is MHREO divided by TREO, expressed as a
percent.Background
Hecla-Kilmer (“H-K”) is a large and multiphase
alkaline intrusive complex with carbonatite. It is 4 – 6 km in
size, Proterozoic in age, and was emplaced along the western margin
of the crustal-scale Kapuskasing structural zone which bisects the
Archean Superior Craton in northern Ontario.
A shallow, six-hole diamond drill program was
completed in 1970 as part of a regional base metal exploration
program by Ashland Oil and Elgin Petroleum. One hole was abandoned,
and a scant 854 metres were completed in total in the other five
holes, all on magnetic highs in the outer concentric zones of the
complex. There is no record of drill core sampling or geochemical
data. Selco Exploration Company completed two drill holes in 1981
on peripheral magnetic highs as part of a regional diamond
exploration program; they intersected altered ultra-basic rocks and
black breccia in the outer, concentric zones of the multiphase
complex at H-K. After this historical drilling, a regional airborne
magnetic survey was completed in 1993 for ongoing diamond
exploration, and it provided a high-resolution of detail for the
entire H-K complex.
The opportunity for VR is to be the first
company to apply modern IOCG and carbonatite mineral deposit models
to explore the multiphase H-K complex and hydrothermal breccia
system as a whole, and to use new exploration technologies not
previously available when the historic drilling was done.
VR completed the first airborne EM survey over
H-K in June, 2020, using the state-of-the-art VTEM+ system of
Geotech Ltd. Flown at 100 m line spacing over a 6 x 7 km survey
block for a total of 450 line-km, the data provide a high
resolution of detail. The Company also completed an independent,
3-D inversion of both magnetic and EM data, for improved modeling
of the complex in three dimensions. A detailed, ground-based
gravity survey covering an area of 1.5 x 3.5 km was completed in
the winter season of 2021, with high-resolution data generated from
597 stations on an equant grid spacing of 100 m.
VR completed four drill holes for a total of
1,971 metres in October, 2020, targeting the northern MVI (magnetic
inversion) anomaly at H-K. The Company followed up that drilling in
October, 2021, with the completion of five additional holes for a
total of 2,604 metres, targeting the high contrast, 3.5 mGal
gravity anomaly that is co-spatial with, but slightly offset from
the MVI anomaly. Fluorite-carbonate hydrothermal breccia was
discovered, extending from bedrock surface to 600 m depth, and
hosted in a high temperature, sulfide-bearing calc-potassic
alteration system and containing broad intersections up to 299
metres long with REE’s and Critical Metals, and elevated copper and
gold locally.
There are four different styles of
mineralization evident: 1. REE’s and
critical metals in fluorite-apatite-magnetite
hydrothermal breccia with carbonatite veins and dykes; 2.
lithium mineralization in hydrothermal breccia; 3.
copper sulfide in veinlets with iron and silica,
and; 4. elevated hydrothermal gold related to
syenite porphyry dykes.
A state-of-the-art, ultra-high resolution drone
magnetic survey was completed in the fall of 2021, and expanded in
March of 2022, in order to: 1. cover the entire complex at H-K,
and; 2. identify vectors for how best to follow up on the
hydrothermal breccia intersections with critical metals and gold in
the first two drill programs. The final survey is 3.4 x 4.5 km in
size, comprising 121 lines at both 25 and 50 m line-spacing for a
total of 410 line-km. The survey produces a very high resolution of
data because of the tight line spacing, the low “tree-top” flight
altitude of just 30 metres above ground, and a computerized flight
control paired with a new, very high sensitivity potassium-vapour
magnetometer.
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 submitted all drill core samples for
geochemical assay to the ALS Global Ltd. (“ALS”) laboratory
facilities in Timmins, Ontario, with final geochemical analytical
work done at the ALS laboratory located in North Vancouver, BC.,
including lithium borate fusion, ICP-MS and ICP-AES analyses for
base metals, trace elements and full-suite REE analysis, and gold
determination by atomic absorption on fire assay. Analytical
results are subject to industry-standard and NI 43-101 compliant
QAQC sample procedures externally by the Company and internally at
the laboratory as described by ALS.
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 and 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 the
content of this news release has been reviewed on behalf of the
Company by the CEO, Dr. Michael Gunning, P.Geo., a non-independent
Qualified Person.
About the Hecla-Kilmer Property
The Hecla-Kilmer complex is located 23 km
northwest of the Ontario hydro-electric facility at Otter Rapids,
the Ontario Northland Railway, and the northern terminus of Highway
634 which links the region to the towns of Cochrane and Kapuskasing
to the south, located on the northern Trans-Canada Highway.
The H-K property is large. It
consists of 224 mineral claims in one contiguous block
approximately 6 x 7 km in size and covering 4,617 hectares. The
property is owned 100% by VR. There are no underlying annual lease
payments on the property, nor are there any joint venture or
back-in interests. There is an industry-standard royalty attached
to the property, including a buy-back provision in favour of
VR.
Like the Ranoke property, H-K is located on
provincial crown land, with mineral rights administered by the
Ontario Ministry of Northern Development, Mines, Natural Resources
and Forestry (“MNDM”). There are no annual payments, but the MNDM
requires certain annual exploration expenditures and reporting. The
property falls within the traditional territories of the Moose Cree
and Taykwa Tagamou First Nations.
About VR Resources
VR is an established junior exploration company
focused on greenfields opportunities in copper, gold and critical
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 2022 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 those which, by their nature,
refer to future events. Forward looking statements in this release
include those related to the companies upcoming plans, such as “The
potential of this discovery lies in the polymetallic nature of the
intersections made to date, and the sheer lateral and vertical
scale of the hydrothermal breccia system”, 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
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. All of the
Company’s public disclosure filings may be accessed via
www.sedar.com and readers are urged to review these materials.
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.
Figure 1. Drill
hole locations relative to the outline of the overall multiphase
intrusive complex at H-K, plotted on a contoured RTP magnetic base
map with superimposed 3D isoshells from the MVI magnetic
inversions. https://www.globenewswire.com/NewsRoom/AttachmentNg/87d18afc-3617-46c8-8483-a8fc6911be12
Figure 2. Drill
hole locations and key REE intersections in the northwestern
portion of the H-K complex, plotted on the 1VD magnetic map derived
from the ultra- high resolution drone magnetic survey completed in
2022. Note the strong correlation between vertical derivative
magnetic boundaries and phoscorite veins and the development of
potassic, fenite
alteration.https://www.globenewswire.com/NewsRoom/AttachmentNg/5a469368-f8ea-457f-b9c8-16c2bafaf34c
Figure 3. Down-hole geochemical plot showing
the polymetallic nature of the 80 metre intersection of Critical
Metals in Hole 10 (86-166 metres) and 88 metre intersection in Hole
11 (227-315 metres), including both the light and medium-heavy
REE’s (MHREO), and niobium. The mineralization occurs within
potassic alteration in both holes (shown in pink). Of note is the
MHREO content, up to 30% of TREO in both holes, and nearly double
the concentration of MHREO compared to previous holes drilled
completed in 2021 farther to the west, into higher temperature
calc-potassic alteration with stronger niobium mineralization. The
MHREO content is important because it includes terbium and
dysprosium oxides, which are more valuable because they are
essential for the production of permanent magnets used in electric
vehicles and wind energy
turbines.https://www.globenewswire.com/NewsRoom/AttachmentNg/1c1a8469-8c40-448b-96bb-7047e2a858a7
Figure 4. Photograph of drill core at 223
metres in drill hole HK22-011. Nearly complete
replacement of alkaline shonkinite host rock by potassic, fenite
alteration consisting of magnetite-biotite-calcite-amphibole which
is most intense around phoscorite (carbonatite) and fluorite
(blue-purple colour) vein
breccia.https://www.globenewswire.com/NewsRoom/AttachmentNg/2191b0d1-d8c9-4ac6-9ce6-873ae5ce20a4
Figure 5. Photograph of drill core at
289 metres in drill hole
HK22-011. Top row shows nearly 100% complete
replacement of alkaline ijolite host rock evident in the lower row
by potassic, fenite alteration consisting of massive, fine-grained,
inter-crystalline magnetite, biotite, apatite and calcite. This
core is within the 13 metre interval grading 0.94% TREO, with up to
up to 2.3% TREO and 20% MH-TREO by ratio (middle and heavy Rare
Earth Oxide), and containing up to 39.1% Fe2O3, 11.2% P2O5 over one
metre intervals. The orange spots are resorbed potassium feldspar
phenocrysts, the only remaining mineral of the ijolite host
rock.https://www.globenewswire.com/NewsRoom/AttachmentNg/d6cfe58c-a86d-4aec-b7a2-81d5bbc9ea36
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