2,600 g/t Silver and 1.4% Copper pop as VR completes an array of early-stage surveys across the Reveille property and CRD mineral system in Nevada
VANCOUVER, British Columbia, Sept. 10, 2020 (GLOBE NEWSWIRE) — VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCBB: VRRCF), the “Company“, or “VR”, is pleased to provide a brief update of exploration completed this summer at its recently acquired Reveille silver-copper property located along the southeastern margin of the Walker Lane mineral belt in west-central Nevada.
This is not a comprehensive summary as not all final data are in hand, but the impact of new geochemical data is clear, as highlighted in the bullets and field photos below (see satellite-based location map in Figure 1 for reference). A bulleted summary of all work completed this summer follows at the end of the news release, with interpretation of results towards an integrated exploration model ongoing.Geochemical Highlights:148 of 161 grab samples with > 1 g/t silver;10 of 161 grab samples with > 0.5% copper;6 distinct showings with vein and/or breccia mineralization containing > 100 g/t silver and 1% copper;600 g/t silver and 0.7% copper at Silver Ace showing, with 300 vertical metres of topographic extent to hydrothermal replacement mineralization between Silver Ace on the ridgetop and Lincoln showing below;2,600 g/t silver and 1.4% copper at Lost City and 2,200 g/t silver and 1.2% copper at Lincoln on the west side of the property provide a potential vector to the heart of the overall CRD mineral system at Reveille;1,500 m lateral extent of west-dipping, stratigraphically controlled high grade mineralization between Zebra and Spade zones.Detailed geological mapping completed by VR has determined the precise stratigraphic position of mineralization, and importantly the preferred structural controls to hydrothermal fluids not identified or described by previous workers in the district, allowing VR to develop a mineral deposit model and exploration target for the root driver of the overall mineral system, beyond the scale of the individual surface showings themselves.From VR’s CEO Dr. Michael Gunning: “I believe the high-grade silver and copper concentrations now confirmed at 6 different showings across the Reveille CRD mineral system speak for themselves as to the potential of this property. I encourage readers to view the plan map in Figure 1 in conjunction with the cross-section in the previous news release of June 25th in order to understand the scale, the context and the potential of the geochemistry reported herein. “The technologies employed by VR in LWIR and SWIR airborne and hand sample spectral mapping of alteration minerals and in trace element geochemistry of grab samples will identify sophisticated exploration vectors based on mineral assemblages, degrees of recrystallization, extent and style of veining, and absolute values and element ratio’s relevant to the CRD model. VR is also using state-of-the-art 3-D inversion modeling of airborne and ground-based gravity, resistivity, conductivity and magnetic geophysical data to develop specific drill targets for the root of the hydrothermal mineral system that has given rise to the surface showings at Reveille, and the high-grade geochemistry reported here.“Most but not all data sets are in hand. Upon final integration and interpretation of all data sets, VR will plan for a follow-up surface exploration program this fall. The goal will be to transition our exploration from property-scale to target scale, and we look forward to providing updates on this work later this year. “In the meantime, the Company continues to prepare for first-pass drilling this fall at its nearby Amsel gold target in Nevada, and the Hecla Kilmer copper-gold breccia target in Ontario. We believe in the potential of these targets and their relevance to the continued strength of the copper and gold markets.”Work Completed, Summer 2020The bulleted list below illustrates the extent of exploration done and data acquired this summer from an array of surveys exploiting the most modern technologies available:Airborne Hyperspectral survey completed in late June, with 2 m resolution across 320 spectral channels for high resolution mapping of alteration minerals over a 100 sq km area, centered on the property.High resolution VTEM+ airborne EM survey completed in July; 100 m line spacing over 3 x 4.5 km area:RTP and TMI magnetic maps for mapping; resistivity maps and conductivity products for identifying sulfide-bearing breccias, vein stockworks and massive sulfide mantos.High resolution ground gravity survey completed in July, with 638 stations in an equant 100 m station grid covering a 2 x 3.5 km area:Map structures and identify potential high-density sulfide bodies below surface showings.Detailed geologic mapping and sampling of the entire property completed in July:Systematic rock sampling of high-grade silver veins, and silver-bearing mantos and breccia bodies in order to establish geochemical zonation across the entire mineral system, and to prioritize drill targets amongst the various high-grade silver showings at surface:190 rocks for geochemistry;182 chips Rock chips for spectral analysis for alteration mineralogy;6 samples for petrography.VR is in the process of integrating all data sets in order to evaluate each silver-copper showing on its own merit, but also to evaluate the potential for a large-scale, sub-surface root to the CRD mineral system as a whole, something that has never been done before.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., Principal Geologist at VR and a non-independent Qualified Person oversees and/or participates in all aspects of the Company’s mineral exploration projects and has reviewed the content of this news release. The Company’s CEO, Dr. Michael Gunning, P.Geo., is also a non-independent Qualified Person.About the Reveille PropertyThe Reveille property is located approximately 90 km’s east of Tonopah, Nevada. Access is via Highway 6, with local roads and trails in and around the property itself.The Reveille property consists of 57 mineral claims in one contiguous block covering 1,157 acres (468 hectares) over an area of approximately 2 x 3 km’s. The property is on federal land administered by the BLM, and are outside of the BLM’s broadly defined area of sage grouse protection. There are no underlying annual lease payments on the property, nor are there any joint venture or carried interests on the property. There is an industry-standard royalty attached to the property, with a standard buy-back provision to VR.About VR ResourcesVR is an established junior exploration company focused on greenfields opportunities in copper and precious metals (TSX.V: VRR; Frankfurt: 5VR; OTCBB: 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. ON BEHALF OF THE BOARD OF DIRECTORS:“Michael H. Gunning”
Dr. Michael H. Gunning, PhD, PGeo
President & CEOFor general information please use the following:Forward Looking StatementsThis 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 are those which, by their nature, refer to future events. Forward looking statements in this release include “allowing VR to develop a mineral deposit model and exploration target for the root driver of the overall mineral system”, “In the meantime, the Company continues to plan for first-pass drilling this fall at its nearby Amsel gold target in Nevada”, and “VR evaluates new opportunities on an ongoing basis, whether by staking or acquisition.”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 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/01c1f05f-ebcc-48f2-b1a5-b8c87d15aa93Photo 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a6676de0-c78b-4a46-8374-b9734d40bdc9Photo 2 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/17a26f6c-36c2-4d4a-90c1-3fa8e58b6ed3Photo 3 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f6591056-800d-4a0b-aa5e-984967c29600Photo 4 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/66210ce4-ed1c-46c4-9022-8499f4389230Photo 5 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d8ee22c4-81fe-4a29-b408-545eea712976