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VR Resources set to mobilize next month for follow-up drill program at Hecla-Kilmer property, Ontario

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VR Resources Ltd. has said it plans to mobilize for a drill program in late August this year at its Hecla-Kilmer property (H-K) project in northern Ontario having confirmed rare earth mineralization in an iron oxide copper gold (IOCG) breccia target, which was hit with two holes last year.

New data from the re-assay of samples from one of these holes has confirmed rare earth element (REE) concentrations of more than 0.5% total rare earth oxide (TREO), said the explorer.

In addition, these are over widths, which exceed 50 metres (m) in high-density mineralization zones within hydrothermal breccia.

READ: VR Resources completes second phase drilling at Reveille silver-copper project in Nevada

“It is an important step forward to see that the re-assay of our sample pulps for Hole 2 using a sodium peroxide fusion designed to optimize the analytical detection for all rare earth elements confirms their presence in the high-density breccia zones intersected last fall,” VR CEO Michael Gunning said in a statement.

He added: “To be certain, follow-up drilling this fall will target the center of the large density anomaly to evaluate the potential for significant copper and gold within the fluorite-apatite-carbonate hydrothermal breccia system at Hecla-Kilmer for which an IOCG chemical affinity is clear in our data, including rare earth elements.

“We have been working with the same key service providers from last year’s program with regard to camp, helicopter and drill for the past three months, and we are narrowing in on mobilization for late August. The goal is to replicate the strong daily production and overall cost efficiency of the 2020 program.”

This latest follow-up drilling is expected to comprise up to six holes and up to 3,000m in total, which VR expects to take between four and six weeks to complete based on production last year.

The company’s wholly-owned Hecla-Kilmer property is large and consists of 224 mineral claims in one contiguous block around 6 x 7 kilometers in size and covering 4,617 hectares.

It also sits 35 kilometres (km) southwest of VR’s Ranoke property in Ontario and 23km northwest of the Ontario hydro-electric facility at Otter Rapids, the Ontario Northland Railway, and the northern terminus of Highway 634.

Contact the author at [email protected]

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/955765/vr-resources-set-to-mobilize-next-month-for-follow-up-drill-program-at-hecla-kilmer-property-ontario-955765.html


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