VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCQB: VRRCF), the
"
Company", or “
VR”, is pleased to
report the second batch of geochemical data for the two drill holes
completed last fall on the South Rim of the Hecla-Kilmer complex
(“H-K”) located in northern Ontario. Data from the last remaining
drill holes are expected shortly.
Five drill holes were completed at Hecla-Kilmer in November,
2022, for 1,437m. The 21 drill holes completed to date are shown on
Figure 1; provided are the key REE critical metal
intersections which span an area of approximately 2 x 3 km in the
western half of the multiphase alkaline complex at H-K.
The mineralization at South Rim with 2.7% TREO is shown in
Photo 1; apatite veins associated with carbonatite
dykes and vein breccia, in country rock that is 100% replaced by
hydrothermal alteration.
The volume potential for this new, mineralized structure on the
South Rim is illustrated in Figure 2, on a
detailed magnetic plan map and cross-section through the 3D MVI
magnetic inversion model.
Significance
Multiple zones. This is the second large area
of > 1% TREO mineralization discovered at Hecla-Kilmer. The new
data are from two holes on the South Rim zone
which is located approximately 2.5 km to the south of the REE
intersections previously reported for Pike zone,
such as the 461 m intersection in Hole 13 (NR23-001, January 17,
2023). Intersections in three additional areas
will be followed-up in 2023: around Hole 17 to the west of Pike
Zone; around Hole 16 in the center of the complex, and; around Hole
1 to the southeast of Pike Zone.
PMREO grade. The consistent 16 –
28% proportion of PMREO in the TREO mineralization at
South Rim is consistent with mineralization at Pike Zone located
2.5 km to the north. This ratio is important because of the high
value of the PMREOs in response to the demand for permanent magnets
in EVs and wind turbines. For comparison, published resources for
most Canadian LREE deposits in carbonatite generally contain
between 12-15% of the high value PMREO (e.g. neodymium), which is
roughly 40% lower than the proportion at Hecla-Kilmer.
Lateral scale. Like at Pike Zone, REE
mineralization in Holes 15, 19 and 20 at the South Rim is
associated with carbonatite dykes, veins and vein breccia within
high temperature, hydrothermal potassic alteration that is both
intense and widespread,
characterized by mineral assemblages dominated by magnetite,
biotite, apatite, carbonate and disseminated sulfide. Importantly,
these broad alteration envelopes on structure are also mineralized,
as in the carbonatite dyke swarm of sovite breccia in Hole 19,
shown in Photo 1; the sovite breccia is the southern shoulder to
the mineralized structure which was intersected in Holes 15 and 20,
which were inclined to the north and northeast respectively.
Vertical extent. The veins and vein breccia
with up to 2.7% TREO with 28.5% PMREO in Hole 20 occur within an
intersection of 212 m of continuous mineralization grading
0.7%TREO, with the most intense polymetallic mineralization of REE
+ Nb2O5 in the lower 48 metres, and open to depth. This is similar
to the intense REE mineralization at the bottom of the 461 m
intersection in Hole 13 at Pike Zone, which is also open to
depth.
CEO Comment and Drill Core Photos from Hecla-Kilmer
From VR’s CEO, Dr. Michael Gunning, “The critical metal
discovery at Hecla-Kilmer emphasizes:
- the scale of the hydrothermal system evident
in drill core over an area of 2 x 3 km;
- the number of occurrences of > 1% TREO mineralization:
at least four discovered to date;
- the higher-than-normal component of the high-value PMREOs, from
16 – 28% of TREO, and;
- location, both with regard to mineralization
coming to bedrock surface at the base of till, and the location of
Hecla-Kilmer, just 23 km from provincial infrastructure.
Consider that the South Rim is now the fourth area of
mineralization at Hecla-Kilmer with grades in individual veins and
breccia zones with 1 – 3 % TREO and containing 16 – 28 % PMREO:
- Photo 1 shows high grade TREO in Hole 20 on
the South Rim;
- Photo 2 shows high grade TREO in Hole 13 at
Pike Zone, located 2.5 km to the north;
- Photo 3 shows high grade TREO in Hole
17, located on a north-south structure west of Pike
Zone;
- Photo 4 shows TREO mineralization with
magnetite in Hole 16 located on a major east-west
structure that bisects the central core of the complex, in between
South Rim and Pike zones.
The potential for each of these areas is two-fold: 1. Lateral
continuity of TREO mineralization along structure, and; 2. TREO
mineralization in breccia systems with no apparent limit to
vertical extent.
Next Steps Planned for the Hecla-Kilmer Project
in 2023
This REE critical metal discovery at H-K has
progressed continuously since mineralization was first intersected
at surface in Hole 4 during the first reconnaissance program in
October, 2020. Since then, VR has expanded geochemical techniques
to include analysis by lithium-borate fusion to optimize detection
of all REEs, and utilized QEMSCAN thin section analysis to
characterize REE mineralogy. Going forward:
- VR has commenced a study of drill
core samples from Holes 13 and 15 using scanning electron
microprobe (SEM) to determine exactly which minerals host the high
value magnet rare earth elements. Results are anticipated this
quarter, and work will be ongoing through 2023;
- VR has initiated the scoping for
metallurgy and mineral extraction studies using a bulk sample
obtained from core from a dedicated drill hole with a
representative, broad intersection of REE mineralization starting
at surface. This work is planned for the first half of 2023,
utilizing the world-class REE expertise at SGS Lakefield
Laboratories in Ontario.
Follow-up drilling is planned for the spring of
2023. It will focus on supporting the afore-mentioned
advanced-stage studies at Pike Zone, and completing additional
exploration drill holes on the other three areas of mineralization
discovered to date.
Overall, the path forward for this emerging
discovery is strengthened by its location, just 23 km to the west
of the provincial hydroelectric dam at Otter Rapids, with
supporting and active Ontario Northern railroad and Highway 634
infrastructure.
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 sawn drill core samples for
geochemical assay to the ALS Global Ltd. (“ALS”) laboratory
facilities in Timmins or Thunder Bay, 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, including the systematic
insertion of sample duplicates, blanks and certified reference
material (CRM) done both externally on the project site by the
Company and internally at the laboratory by ALS, 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., VP Exploration and a non-independent Qualified Person
oversees 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.
(1) TREO is
the summation of Ce2O3 + La2O3 + Pr2O3 + Nd2O3 + Sm2O3 + Eu2O3 +
Gd2O3 + Tb2O3 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 +
Y2O3.(2) PMREO is the sum of high
value rare earth oxides used in permanent magnet motors and
turbines used in electric vehicles and wind turbines (Pr2O3 + Nd203
+ Tb2O3 + Dy2O3).
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, itself 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.
Hecla-Kilmer 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 greenfield opportunities in critical metals, copper and
gold (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 foundation of VR is the
diverse experience and proven track record of its Board in
early-stage exploration, discovery and M&A. The Company is
well-financed for its exploration strategies and corporate
obligations, and focuses on underexplored, large-footprint mineral
systems in the western United States and Canada. VR owns its
properties outright and evaluates new opportunities on an ongoing
basis, by staking or acquisition.
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 company’s upcoming plans, such as
“Data from the remaining drill holes are expected shortly”, and “VR
evaluates new opportunities on an ongoing basis.”
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. Locations of the 21
drill holes completed to date at Hecla-Kilmer, plotted on a
contoured RTP magnetic base map with superimposed 3D iso-shells
from the MVI inversion. Key intersections for critical metal are
highlighted for the first 19 holes for which data are received,
with data from the two final holes pending.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/dc327cec-f138-44fe-86a5-6ca896e18eee
Figure 2. Drill hole HK22-020
plotted on the detailed, 2VD magnetic map derived from the high
resolution drone magnetic survey completed in 2022. Note the strong
correlation of mineralization in drill holes 015 and 020 to the
northeast-southwest grain of magnetic gradients, providing a clear
vector for follow-up drilling. High PMREO content is maintained
along the trend. See Figure 1 for the location of
Holes 15 and 20 relative to the entire Hecla-Kilmer complex.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/491d108d-253c-4c89-9b61-43b052cd8b67
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/cc1fefc3-1907-4356-ad4d-b647e2778ef3
Photo 1. South Rim Zone. Top Photo: carbonatite
dyke (phoscorite) with REE-rich apatite and monazite matrix, and
small biotite phenocrysts at 166m with 2.85% TREO including
28.5% PMREO within 261m at 0.7% TREO. Bottom photo: core
bench photo of carbonatite (sovite) dykes and vein breccia observed
over tens of metres in HK22-019. This is the first observation of
apatite (orange-pink) in a sovite (white calcite carbonatite) at
H-K. This new occurrence of mineralized sovite is a proximal
indicator to the intense REE mineralization in holes 15 and 20.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/68e19ccd-4622-436c-b98b-7ac7f224656b
Photo 2. Pike Zone. Photograph of drill core
with 2.2% TREO and 19% P205 at
219m in drill hole HK22-013. Rare earth element
mineralization is amongst a myriad of carbonatite dykes (phoscorite
and sovite) which themselves are cut by fluorite-rich carbonate
veins. Protolith alkaline igneous rocks are completely replaced by
a potassic alteration assemblage dominated by hydrothermal
biotite.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/e10ec0c5-0cb9-4d11-80ba-afa3e28bbf1d
Figure 3. West of Pike Zone. Photograph of
drill core with 3.3% TREO at 291.65 m in drill
hole HK22-017 located half a kilometer southwest
of Pike Zone. The high grade TREO occurs towards the end of an
overall intersection of 287 m of continuous TREO + Nb
mineralization. The drill hole is located on a RTP magnetic anomaly
200 x 700 m in size. The core shows aggregates of magnetite in a
near total calc-potassic fenite replacement of the host rock by
calcite, apatite, REE minerals (monazite & bastnaesite), and
amphibole.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/5ebc5036-c443-4fd6-bdeb-6b6196426521
Photo 4. Central core of complex. Photograph of
drill core with 1% TREO and 19%
Fe2O3
at 94m in drill hole HK22-016.
This drill hole ran down the edge of the MVI anomaly shown in
Figure 1 and will be followed up by testing the heart of the MVI
anomaly. The REE mineralization is within an alkaline host rock
that is completely replaced by a sodic alteration characterized by
pristine crystals of hydrothermal actinolite and magnetite
cementing relic nepheline and orthoclase crystals, themselves
altered to sodalite.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/dd509769-d8dc-4793-a99d-6f342bcda03b
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