VANCOUVER, British Columbia, Dec. 19, 2024 (GLOBE NEWSWIRE) -- VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCBB: VRRCF), the "Company", or “VR”, has received the final, inverted data for the state-of-the-art, 3D array DCIP survey completed last month on its Silverback copper-gold project located in Northwestern Ontario.
- A large, high amplitude chargeability anomaly is identified in the center of the project, central to the broadest part of the main mafic - ultramafic body with nickel-chrome mineralization, as shown in Figure 1.
- Photo 1 shows copper-gold mineralization in a sheared and silicified mafic rock from a new showing discovered in January 2023 that is in the northern part of the new chargeability anomaly. Similarly, there are fractures with remobilized moly in gabbro in the southern part of this large chargeability anomaly.
- There are several additional chargeability anomalies to the west and northeast, also associated with edges of the mafic-ultramafic body, and anchored by north-south structures with known copper-gold mineralization.
Figure 1. Plan map of the Silverback 3D DCIP survey area with chargeability results as isoshells at 12.5 mV/V (orange) and 15 mV/V (red) with inferred shear-zones and margins of the nickel-mineralized mafic dykes and intrusions spanning the project area. The survey straddles the northern margin of the Lac des Mille Lacs greenstone belt with the Marmion batholith on a deep seated lithotectonic structures.
Initial Impressions. The dipole-dipole survey, with a 150m equant station grid array covered an area of 3,500 by 2,750 meters over the centre of the project. Firstly. All the strong chargeability anomalies correlate with the edges of the mafic-ultramafic body with copper-gold occurrences spanning some 4 km across the breadth of the property. But in addition, there is also a clear structural control to the new anomalies: the large, central anomaly is anchored by a north-south shear-zone with structural offsets evident on detailed airborne magnetic data obtained last winter, and the discreet anomalies that lie to the west occur on a west-northwest trend that is subparallel to the greenstone belt contact in the southern part of the Marmion terrane.
In summary, the new IP survey delineates chargeability anomalies at the intersection of mafic feeder dykes that are offset by sinistral, north-south faults. The new chargeability anomalies are potentially the source for remobilized and concentrated sulfide minerals on structure. Remobilized molybdenum is a crucial pathfinder metal for gold mineralization in the Hemlo gold camp, and is commonly cited as evidence for an intrusion-related source of mineralization. The molybdenite occurrence shown in Figure 1 in the southern part of the main chargeability anomaly at Silverback, and the porphyry unit with gold-bearing quartz-carbonate veins located to the west (see Photo 1 of NR24- dated October 24th) serve as important building blocks for this evolving, integrated model for a large, polymetallic copper-gold system at Silverback.
From VR's CEO Justin Daley: “We designed the DCIP survey to help us target within a broad, 3 km trend of mineralization that provides evidence for an intrusion-related gold-copper system at Silverback. In order to identify a central target, or targets, hidden below cover at Silverback, we required a robust, modern geophysical tool to use along side strong, trace element vectors of molybdenum and silver, and the new evidence for a gold mineralized porphyry dyke in drill hole 002 from last spring. Once gain, Dias technology has delivered. The 1,200m long, oblate >15mV/V chargeability anomaly running right up the centre of the property aligns perfectly with known high-grade gold occurrences and with important structures mapped on surface and within our magnetic data.
As we spend more time working with the chargeability and resistivity results from this survey over the coming weeks, we look forward to sharing detailed exploration targets and plans for drilling in 2025.”
Photo 1. Remobilized copper, gold and silver mineralization occur in shear-hosted chalcopyrite and bornite with strong silicification (pale areas around sulfides) in an amphibolite host. The sample is taken from an exploration trench situated above the newly defined chargeability anomaly shown in Figure 1.
About the Silverback Project
The project now consists of 71 mineral claims in 1 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 (ie. mineral assessment reports) in order to maintain a mineral claim in good standing. The Properties falls within the Lac de Mille Lac First Nation traditional territories.
Technical Information
Surface 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.Geo
President & CEO
For general information please use the following:
| Website: Email: Phone: | www.vrr.ca info@vrr.ca 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 share detailed exploration plans and plans for drilling in 2025, 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.
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