Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Now:
Last Hour:
Last 24 Hours:
Total:

VR Resources expands ground near Big Ten project in Nevada with acquisition of Reveille silver property

% of readers think this story is Fact. Add your two cents.


VR Resources Ltd (CVE:VRR) (OTCQB:VRRCF) is expanding its flagship Big Ten gold project in Nevada with the acquisition of a neighbouring silver property in a cash-and-share deal.

The Vancouver-based company announced it was acquiring the Reveille silver property, which is located nearly 75 kilometres along the same trend as Big Ten.

Reveille is situated along the Walker Lane mineral belt in west-central Nevada where numerous epithermal gold and silver deposits spurred nearly 160 years of production in the region.

READ: VR Resources to start exploration immediately on newly acquired Hecla-Kilmer property in northern Ontario

VR plans to explore Reveille this summer at the same time it plans a drill program on the Amsel gold target at Big Ten, according to the firm’s CEO Dr Michael Gunning.

“We have been evaluating this opportunity for more than a year now, and our work in the Big Ten caldera and epithermal system during the past three years provides an expertise and momentum for Reveille, and we intend to commence exploration immediately,” Gunning said in a statement.

VR Resources will be the first explorer to apply modern carbonate mineral deposit (CRD) models and exploration technology to the entire mineral system at Reveille, and be the first to drill test any number of vein, manto and breccia-pipe silver occurrences within the framework of a district-scale, integrated exploration model, Gunning told investors.

“We thank the vendor for his persistence over the past decade in consolidating this land package for the first time in its history, for it is that consolidation that gives VR the real opportunity for an exploration strategy with scale. We believe that the untested potential of this complex for a large-scale CRD silver system is significant, and we look forward to providing further updates as our work proceeds,” he said.

Deal terms

Under the term sheet, VR Resources will acquire 100% interest in Reveille from a private unnamed vendor for a total of US$70,000 cash and 200,000 shares of the exploration company, payable in two installments upon closing and again when a diamond drill program commences. The seller will also retain a net smelter returns royalty of 3% in the project.

Reveille consists of 57 mineral claims in one contiguous block covering 1,157 acres around 90 kilometres from Tonopah.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Story by ProactiveInvestors



Source: https://www.proactiveinvestors.com/companies/news/922479/vr-resources-expands-ground-near-big-ten-project-in-nevada-with-acquisition-of-reveille-silver-property-922479.html


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com

Order by Phone at 888-809-8385 or online at https://www.herbanomic.com


Get our Free Ebook, "Suppressed Health Secrets"  with  Natural Cures THEY don't want you to know!

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Organic Hemp Extract (CBD) - Full Spectrum high CBD (3300mg) hemp extract eases stiff joints, relieves stress and more!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse
Loading...
    Loading...

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.