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 eyeing busy year ahead in Nevada as drilling gets underway at Reveille silver-copper property

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


  • Management has strong track record in discovery and M&A
  • Properties are 100% owned to leverage discovery upside
  • Mining friendly jurisdictions

What VR Resources does:

VR Resources Ltd (CVE:VRR) (OTCMKTS:VRRCF) is a junior explorer, which is advancing assets in Nevada and Ontario – both mining-friendly jurisdictions. Notably, VR owns 100% of its properties.

The group’s focus is to uncover, using new techniques, large copper-gold mineral systems, and the firm is continuing what was over four years of exploration in Nevada by a Vancouver-based private exploration company.

The firm’s Big Ten epithermal gold property in the Walker Lane belt of Nevada comprises seven properties along a district-scale 20 kilometer (km) trend and multiple claims. The properties are the Hat Peak, Kano, Amsel, Danbo, Little Joe, Clipper and Fischer properties. There is easy access to power and rail and an international airport in Reno.

The focus has been on the hill at Amsel, which is a large topographical feature at the asset with a surface footprint defined by this 2 km x 2 km gold-silver soil anomaly.

After an ncrease, the Amsel property now consists of 66 claims covering 1,363 acres.

Elsewhere, the Bonita project in Nevada is a large porphyry copper-gold system discovered by VR with a 5 km by 7 km footprint and five to six specific targets. It covers 7,872 acres and has 381 claims. The firm believes the Bonita system to be similar to the nearby Yerington mine deposits, which have generated 162 million tonnes of 0.55% copper.

In Ontario, VR owns the previously unexplored Ranoke copper, gold project, which was staked by the firm in 2019 and is a large-scale iron oxide copper-gold target. Ranoke is a greenfield, blue-sky opportunity, the company says.The Hecla-Kilmer project, 35km away, is a direct extension of the ongoing exploration strategy at the Ranoke property towards a blue-sky discovery of a large footprint iron oxide – copper-gold hydrothermal breccia system.

Consisting of 360 contiguous claims covering 7,400 hectares, the Ranoke project lies15 km west of a CNR railway spur and is 25 km north of road access to Otter Rapids, an Ontario hydro-electric facility serviced by Highway 634.

How is it doing:

On March 2 this year, the company said the first phase of a planned two-stage reverse circulation (RC) drill program was now underway at its Reveille silver-copper property in Nevada.

It comes as the junior awaits a permit for the nearby Amsel gold project to the north where it continues to plan for a drill program this summer.

Reveille lies along the same trend as Big Ten and the Amsel project.

VR’s CEO Michael Gunning said the goal for Reveille was “simple”, namely  a greenfields discovery which identifies for the first time silver and copper mineralization “proximal to the source and driver to the overall CRD mineral system”.

An induced polarization (IP) study at the property has been completed and inversion models and 3D voxels derived from the survey are expected in April this year.

Targets have been attained from detailed sampling and surveying and lie on the western side of this district-scale property for both silver-copper CRD mineralization, and for gold related to late, Carlin-style fluids, the firm added.

On February 15, the firm announced the launch of a non-brokered flow-through (FT) private placing to raise a C$150,000 gross. VR said it will use the gross proceeds of the financing for exploration on its properties in Ontario, and more specifically for a detailed ground-based gravity geophysical survey at the Hecla-Kilmer (H-K) property near its Ranoke property in Ontario planned for March.

Also to follow-up to the results of the first pass drilling completed last fall, with the specific goal of identifying high-density copper sulfide concentrations within the newly discovered hydrothermal breccia system at H-K to target in the next phase of drilling.

Last year, the company sank four holes on the northern magnetic anomaly at the property for 1,971 metres (m) before the onset of winter.

A hydrothermal breccia and sulfide alteration system which comes to surface and has more than 600m of continuous vertical extent was seen in two drill holes.

In April 15 last year, the group told investors it had discovered new high-grade silver and gold mineralization at Amsel via a surface grab sample. The group found 4.1 grams of gold per ton (g/t) and 311 g/t silver in the sample.

The sample was one of 135 grid samples collected systematically for alteration mineral mapping, as opposed to visible mineralization.

VR Resources has filed an NI 43-101 technical report on Amsel, including all data collected during 2018 and 2019, and recommends first-pass drilling of the untested target.

Inflection points:

  • Reveille exploration results
  • Permit for Amsel drilling
  • Precious metals moves

What the boss says:

In its most recent update to the market, CEO Michael Gunning told investors: “The targets are ready, the permit is in hand, the drill crew and rig are on site and the weather is terrific. Our strategy is simple: to provide our shareholders with the near-term upside potential of a copper silver discovery at Reveille this winter as we await the permit for our nearby Amsel gold project to the north where we continue to plan for a drill program this summer.”

Contact the author at [email protected]

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/917673/vr-resources-eyeing-busy-year-ahead-in-nevada-as-drilling-gets-underway-at-reveille-silver-copper-property-917673.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 M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


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

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

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! 
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...

    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.