VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCQB: VRRCF), the
"
Company", or “
VR”, is pleased to
report results from the first of five drill holes completed last
fall at its Hecla-Kilmer project (“H-K”) and critical metal
discovery located in Northern Ontario. Data from the remaining
drill holes are expected shortly.
Five drill holes were completed at Hecla-Kilmer
in November, 2022, for 1,437m. The 21 drill holes completed to date
are shown on Figure 1.
The first drill hole completed in the fall
program was an extension of Hole 13 completed in June from 330 to
504 metres. The composite stratigraphic column in Figure
2 provides new data to illustrate the extension of the
original 291 metre intersection to 461 metres. Salient features
include:
- Mineralization starts at the bedrock surface,
below an overburden of glacial till;
- Mineralization is continuous in nature, from
bedrock surface to the end-of-hole at 504m;
- The REE mineralization remains open to depth,
and is as strong as any REE interval higher in the 461 m
intersection; there are no systematic changes down the hole in
geology, density of carbonatite dykes and veins or intensity of
potassic alteration;
- There are 49 one metre samples with
> 2% TREO, and they span the entire 504m
hole;
- The proportion of the high value PMREO does
not vary from the range of 17-22% of TREO;
- Gold mineralization at the bottom of the hole
correlates with a corresponding increase in REE mineralization, and
is part of the same polymetallic fluid system.
Drill Core Photographs
A series of four drill core photographs of the
high grade TREO mineralization from bedrock surface to 504 m depth
in hole HK22-013 follow Figure 2. They provide examples of the
carbonatite dykes and vein breccia mineralization and associated
high temperature potassic alteration overprint present throughout
the entire 461 metre intersection. Grades are provided in each
figure caption.
Significance
Scale. The potential of the
polymetallic REE + Nb mineralization with gold at Hecla-Kilmer is
leveraged by scale, the sheer lateral breadth of the hydrothermal
breccia system and high temperature potassic alteration and the
+500 metre vertical extent of REE mineralization intersected to
date. The plan map in Figure 2 provides the illustration:
- There are now intersections with
> 1% TREO including 19-22% PMREO in 11 of the first 17
holes;
- There is continuous mineralization
from bedrock surface to 504 m depth, and it remains open;
- There is high grade mineralization
in at least three separate areas which span 2.5 km of the
complex.
PMREO Content. The consistent
17 – 22% proportion of TREO mineralization
contributed by the PMREO’s in the 461 metre intersection in Hole
13, particularly praseodymium, neodymium and terbium are comparable
to, or exceeds their proportion in, existing global best of breed
REE mines at Bayan Obo in China (the largest deposit) and at
Mountain Pass in California (the highest grade deposit). For
additional comparison, published resources for most Canadian REE
deposits in carbonatite generally contain between 12-15% PMREO,
which is roughly 40% lower than the proportion at Hecla-Kilmer.
PMREO 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 (Neodymium, Praseodymium, Dysprosium and Terbium) in
world markets reflects the constraints on demand because of the
current global monopoly controlled by China. As such, the
consistently elevated levels of these high value PMREO elements
within all of the mineralized drill intersections
at Hecla-Kilmer highlight the niche and value potential of the
Hecla-Kilmer discovery in the context of known North American
deposits, and demand for new production going forward in response
to the Green Economy.
Gold. Visible gold grains were
first discovered at Hecla-Kilmer in the remnant fines of historic
drill core rubble found in an abandoned field camp. VR confirmed
gold in the system in the second drill hole of the project in 2020,
with 15-184 ppb gold reported over several 10-40 metre intervals in
drill hole HK20-002, occurring in strongly altered porphyry dykes.
The occurrence of 1.1 g/t gold over 2 m at the
bottom of Hole 13 in association with intense REE mineralization at
2.84 % TREO simply expands the potential of the
broad, polymetallic hydrothermal vein and breccia system at
Hecla-Kilmer.
Next Steps Planned for the Hecla-Kilmer Project
in 2023
This REE critical metal discovery at H-K has
progressed continuously since mineralization was first intersected
at surface in Hole 4 during the first reconnaissance program in
October, 2020. Since then, VR has expanded geochemical techniques
to include anaylsis by lithium-borate fusion to optimize detection
of all REEs, and utilized QEMSCAN thin section analysis to
characterize REE mineralogy. Going forward:
- VR has commenced a study of drill
core samples from Holes 13 and 15 using scanning electron
microprobe (SEM) to determine exactly which minerals host the high
value magnet rare earth elements. Results are anticipated this
quarter, and work will be ongoing through
2023;
- VR has initiated the scoping for
concentration, metallurgy and mineral extraction studies using a
bulk sample obtained from core from a dedicated drill hole with a
representative, broad intersection of REE mineralization starting
at surface. This work is planned for the first half of
2023, utilizing the world-class REE expertise at
SGS Lakefield Laboratories in Ontario.
Follow-up drilling is planned for the spring of
2023. It will focus on supporting the afore-mentioned
advanced-stage studies, and completing additional drill holes to
evaluate the extent of mineralization discovered in the central
core and south rim of the complex.
The path forward for this emerging 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 or Thunder Bay, 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 sample duplicates, blanks and certified reference
material (CRM) 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).
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 greenfield’s 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, 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: |
www.vrr.ca |
Email: |
info@vrr.ca |
Phone: |
604-262-1104 |
|
|
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 company’s upcoming plans, such as
“Data from the remaining drill holes are expected shortly”, and “VR
evaluates new opportunities on an ongoing basis.”
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.
Figure 1. Locations of the 21
drill holes completed to date at Hecla-Kilmer, plotted on a
contoured RTP magnetic base map with superimposed 3D iso-shells
from the MVI inversion is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/965a92d0-da67-4e49-9f4d-ac31f3e4045b.
Key intersections for critical metal are highlighted for the first
18 holes for which data are received, with data from four holes
pending.
Figure 2. Graphic log for drill
hole HK22-013, completed to 330 m in June, 2022, and extended to
504m in October is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/7d9ffae0-a1b9-4941-8c87-3576e4b334bd.
The permanent magnet REO elements (PMREO: Nd, Pr, Tb, and Dy) are
shown as a cumulative proportion of total rare earth oxide (TREO),
and average 19% of the 0.81% TREO grade over 461 m, with neodymium
by far the most abundant of the four PMREO’s. Note the gold in
association with the increase in TREO mineralization and PMREO
content at the bottom of the hole.
Photo 1. Photograph of drill
core from near bedrock surface at the top of drill
hole HK20-004, located on the same drill collar as
Hole 13, 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/f865656d-a5ab-4704-98e3-25b6c2ec7dc5.
The magnetite-quartz-potassium feldspar assemblage is a high
temperature potassic alteration facies.
Photo 2. Photograph of drill
core with 2.2% TREO and 19% P205
at 219m in drill hole HK22-013 is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/884b72fd-47c0-47a7-962f-52a15583dfa9.
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 3. Discrete phoscorite
carbonatite vein 1.7% TREO at 366.8
m in drill hole HK22-013 is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/b4c116d3-91a8-469d-8cf7-573eaf1ab76e.
The vein is cored by pink apatite, and cuts fenitized ijolite
porphyry host rock, with large books of hydrothermal biotite and
sulfide with trace amounts of chalcopyrite. Within the apatite vein
are mm-scale crystals of monazite and parasite which contribute to
the 1.7% TREO grade within this 1m sample. At top of frame is a
grey-green phoscorite with smaller biotite crystals; there are no
observed differences in grade or mineralogy between the two styles
of REE mineralization.
Photo 4. Photograph of core at
504 m at the end of drill hole HK22-013, with
2m @ 2.84% TREO and 1.1
g/t gold is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/2d25bac0-a62d-47f0-94dd-190c1fd8fdff.
Shown is the complete replacement of host rock by
apatite-biotite-magnetite alteration. Gold assays are strongly
correlated with monazite geochemistry in the bottom 11 metres of
the hole, indicating a gold - and REE-rich hydrothermal fluid
phase.
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