VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCQB: VRRCF), the
"
Company", or “
VR”, is pleased to
report receipt of additional geochemical data which increases the
PMREO(3) content of the high-grade rare earth element
mineralization intersected in HK22-013 at its Hecla-Kilmer critical
metal project (“H-K”) located in Northern Ontario.
The intersection for Hole 13, originally reported on July 21st,
2022 in NR-22-08, is now reported as:
- 243 m @ 1.02 %
TREO(1), of which
21% are PMREO, within 287 m @ 0.90 %
TREO, starting at surface and continuous to end of
hole, and including: **
- 66.61 m at 1.57 % TREO, starting at 155 m
depth and including:
- 39 m @ 2.04 % TREO starting at 155
m.
- The 66.6 m @ 1.57% TREO is made up
of 20.7% Magnet REO (Nd, Pr, Dy,
Tb);
- The 39 m interval @ 2.04 % TREO contains 15.71%
P2O5.
Hole HK22-13 ended in high grade mineralization:
15 m @ 2.22% TREO with 21.3% PMREO. The high grade mineralization
is open beyond the end of the hole at 330m. As such, the hole was
extended in the recent drill program, and Hole HK22-013ext was
completed to 504 m (see Figure 1). Data are pending.
Photo 1. Example of high-grade
REE mineralization in drill core in Hole 13.Photo
2. Core photo and QEMSCAN image showing the REE mineralogy
of the mineralization immediately below and adjacent to the drill
collar for Hole 13.
Explanation
VR utilizes analysis by lithium-borate fusion at
ALS Laboratories in order to optimize the detection of the full
suite of rare earth elements for its drill core samples from
Hecla-Kilmer, in addition to standard ICP-MS and ICP-AES analyses
for base metals and trace elements, and gold determination by
atomic absorption assay. If any sample exceeds 10,000 ppm Ce
(cerium) or 1,000 ppm Pr (praseodymium), it is re-run using a
higher instrument calibration in order to optimize the accuracy of
data from high-grade mineralization. A total of 34 samples from
Hole 22-13 exceeded the over-limit, and so the entire 66.61 metre
intersection was re-analysed with the higher instrument calibration
resulting in the results reported today.
Figure 1 shows the strong
correlation among all the individual permanent magnet rare earth
elements within the TREO mineralization at Hecla-Kilmer. Further,
the correlation between TREO and P2O5 in the data is exceptionally
high, which is consistent with the phosphate minerals monazite and
apatite identified by QEMSCAN as key mineral hosts to REEs at
Hecla-Kilmer, as shown in Photo 2. This mineralogy is aligned with
the only REE extraction facility in Canada, which just opened in
Saskatoon and is focused on monazite.
Comment on Significance
The new data reported for Hole 13 demonstrate a
2% overall increase in PMREO at Hecla-Kilmer,
driven largely by previous underreporting of
praseodymium, one of the four high-demand rare
earth oxides used in permanent magnets (the “PMREO”).
PMREO are more important in world markets
because they are essential in the manufacturing of motors for
electric vehicles and wind energy turbines, critical components in
the emerging green economy. The high price of the four PMREOs
partially reflects the constraints on demand because of the global
monopoly controlled by China.
These new data only re-emphasize that the
polymetallic mineralization at Hecla-Kilmer competes with the
world’s best of breed REE deposits. The proportion of TREO as
PMREO, particularly praseodymium, neodymium, and terbium, is higher
at Hecla-Kilmer than at existing carbonatite REE mines of Bayan Obo
(largest) and Mountain Pass (highest grade).
Next Steps
The discovery has progressed continuously since
mineralization was first intersected at surface in Hole 4 during
the first recce’ program in October, 2020. Since then, VR has
expanded geochemical techniques to include analysis by
lithium-borate fusion to optimize detection of all REEs and
utilized QEMSCAN thin section analysis to characterize REE
mineralogy. Going forward:
- VR has selected further high grade
REE samples from across the property for scanning electron
microprobe (SEM) research to determine exactly which minerals host
the high value magnet rare earth elements. Initial results are
expected by year-end, and work will be ongoing through 2023;
- VR has initiated the scoping for a
metallurgical test / extraction study using a bulk sample of core
from a drill hole with a broad intersection of mineralization
starting at surface. This work is planned for the first half of
2023, utilizing the world-class REE expertise at SGS Laboratories
in Ontario.
The strength of the discovery at Hecla-Kilmer is
scale, that is, the sheer lateral breadth of the hydrothermal
breccia system and high temperature potassic alteration, and the
vertical extent of REE mineralization intersected in drill core and
starting from surface. The plan map in Figure 2
provides the illustration: there are now intersections with > 1%
TREO in 11 of the first 17 drill holes completed
on the project, and they span some 2.5 km across the complex.
The path towards advancing this discovery is
strengthened by its location, just 23 km to the west of the
provincial hydroelectric dam at Otter Rapids, with supporting and
active Ontario Northern railroad and Highway 634
infrastructure.
Technical Information
Summary technical and geological information for
the Company’s various exploration properties is available at the
Company’s website at www.vrr.ca.
VR submits sawn drill core samples for
geochemical assay to the ALS Global Ltd. (“ALS”) laboratory
facilities in Timmins, Ontario, with final geochemical analytical
work done at the ALS laboratory located in North Vancouver, BC.,
including lithium borate fusion, ICP-MS and ICP-AES analyses for
base metals, trace elements and full-suite REE analysis, and gold
determination by atomic absorption on fire assay. Analytical
results are subject to industry-standard and NI 43-101 compliant
QAQC sample procedures, including the systematic insertion of both
sample duplicates and geochemical standards done both externally on
the project site by the Company and internally at the laboratory by
ALS, as described by ALS.
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., VP Exploration and a non-independent Qualified Person
oversees all aspects of the Company’s mineral exploration projects,
and the content of this news release has been reviewed on behalf of
the Company by the CEO, Dr. Michael Gunning, P.Geo., a
non-independent Qualified Person.
**(1) TREO is the
summation of Ce2O3 + La2O3 + Pr2O3 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3
+ Tb2O3 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 +
Y2O3.(2) PMREO is the sum of high value rare
earth oxides used in permanent magnet motors and turbines used in
electric vehicles and wind turbines (Pr2O3 + Nd203 + Tb2O3 +
Dy2O3). The % Magnet REO column is this PMREO sum divided by TREO,
and expressed as a percent.
About the Hecla-Kilmer Property
The Hecla-Kilmer complex is located 23 km
northwest of the Ontario hydro-electric facility at Otter Rapids,
the Ontario Northland Railway, and the northern terminus of Highway
634 which links the region to the towns of Cochrane and Kapuskasing
to the south, itself located on the northern Trans-Canada
Highway.
The H-K property is large. It
consists of 224 mineral claims in one contiguous block
approximately 6 x 7 km in size and covering 4,617 hectares. The
property is owned 100% by VR. There are no underlying, annual lease
payments on the property, nor are there any joint venture or
back-in interests. Hecla-Kilmer is located on provincial crown
land, with mineral rights administered by the Ontario Ministry of
Northern Development, Mines, Natural Resources and Forestry
(“MNDM”). There are no annual payments, but the MNDM requires
certain annual exploration expenditures and reporting. The property
falls within the traditional territories of the Moose Cree and
Taykwa Tagamou First Nations.
About VR Resources
VR is an established junior exploration company
focused on greenfields opportunities in critical metals, copper and
gold (TSX.V: VRR; Frankfurt: 5VR; OTCQB: VRRCF). VR is the
continuance of 4 years of active exploration in Nevada by a
Vancouver-based private company. The foundation of VR is the
diverse experience and proven track record of its Board in
early-stage exploration, discovery and M&A. The Company is
well-financed for its exploration strategies and corporate
obligations, and focuses on underexplored, large-footprint mineral
systems in the western United States and Canada. 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, PGeoPresident & CEO
For general information please use the following:
Website:Email:Phone: |
|
www.vrr.cainfo@vrr.ca604-262-1104 |
|
|
|
Forward Looking Statements
This 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 those which, by their nature,
refer to future events. Forward looking statements in this release
include those related to the companies upcoming plans, such as “we
anticipate receiving data through the upcoming months of December
and January”, and “VR evaluates new opportunities on an ongoing
basis, whether by staking or acquisition.”
This news release contains 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.
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.
Photo 1. Photograph of drill core with
2.2% TREO and 19% P205 at
219m in hole HK22-013 is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/ec95ea08-e01e-45da-a932-0624ee50638b.
Rare earth element mineralization is amongst a myriad of
carbonatite dykes (phoscorite and sovite) which themselves are cut
by fluorite-rich carbonate veins. Protolith alkaline igneous rocks
are completely replaced by a potassic alteration assemblage
dominated by hydrothermal biotite.
Photo 2. Drill core photo and
QEMSCAN image from the top of drill hole HK20-004
(a proxy for the top of Hole 13 drilled from the same collar)
showing altered magnetite needles with reaction rims of
pyrite–pyrrhotite–iron carbonate and bastnaesite (LREE)–pyrochlore
(Na,Ca)2Nb2O6(OH,F) in a matrix of apatite with calcite inclusions
containing monazite ((Ce,La,Nd,Th)PO4), quartz and potassium
feldspar is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/af73b5e1-de55-4d05-af7f-a9feed68ec5d.
The magnetite-quartz-potassium feldspar assemblage is a
high temperature potassic alteration facies.
Figure 1. Graphic log of REE
intersection in drill hole HK22-013 and the hole extension
completed in October 2022 to a depth of 504m is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/055e9a20-f451-4952-9dd3-f8f2dd4f9d94.
High value permanent magnet REO elements Nd, Pr, Tb, and Dy are
shown as a cumulative proportion of total REO and average 21%, with
neodymium making up the bulk.
Figure 2. Key critical metal
intersections from the first 17 drill holes completed at
Hecla-Kilmer, and locations of the five new holes completed in
October, 2022, plotted on a contoured RTP magnetic base map with
superimposed 3D isoshells from the MVI inversion is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/7506d95e-4319-466d-984a-2ab710340c88.
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