VANCOUVER, British Columbia, Jan. 16, 2025 (GLOBE NEWSWIRE) -- VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCBB: VRRCF), the "Company”, or "VR”, is pleased to provide an update on exploration activities for its Empire project in northwestern Ontario.
Upon the recent discovery of a polyphase and PGE-fertile mafic-ultramafic intrusion at the Westwood property, the Empire project and group of properties has been expanded to district-scale, as shown in Figure 1 below, in order to explore additional targets for Cu-Ni-PGE mineralization in previously unrecognized mafic intrusions.
- The Mack property has just been staked to cover a large, kilometer-scale magnetic high associated with anomalous palladium and copper in lake sediment samples from the Ontario Geological Survey (Figure 1), an association that is similar to the five targets and properties already staked and acquired by the Company in 2024.
- A borehole EM survey is now underway on Hole 2 (Figure 2). The survey is designed to target both strong and weak conductors within the mineralized mafic intrusion discovered in Phase 1 drilling last December:
- Strong Conductor: Magmatic sulfides in a 'reef-style' setting, or a semi-massive melt segregation zone,
- Weak Conductor: late-stage chlorite schist on structure, similar to the Roby ore zone at Lac des Iles Mine.
- An amendment to our existing permit to include ice drilling has been submitted to the Ministry of Mines and Lac des Mille Lacs First Nation, with turn around expected by mid-February, or earlier. In preparation, an ice-thickening program is underway at Westwood, to facilitate simpler logistics on top of and across the southern end of the small lake that covers our priority target within the mafic intrusion based on our drilling to date (Photo 1).
Although there is more work to be done to understand the geological history behind the occurrence of these large mafic intrusions in this part of the Marmion terrane, Westwood has shown us that these magnetic targets with associated PGE and copper geochemistry have potential for the discovery of new and significant polymetallic critical metals systems. We look forward to providing further updates as work continues on the ground on both the Empire and Silverback projects. Assay results for the first three holes at Westwood are expected in the last week of January.”
Figure 1. The district-scale Empire property group shown on a regional magnetic map, with the new Mack target shown on the right, covering a large magnetic high with associated geochemical anomalies in palladium, copper and gold in lake sediment samples from the Ontario Geological Survey. Follow-up drilling at the Westwood property is planned for February, based on the discovery of a mineralized, polyphase mafic-ultramafic intrusion during the maiden drill program last month (see Figure 2).
The Mack Target
The new claim group, totaling 100 cells and 2,080 hectares, is 36 kilometers east of Westwood and 15 kilometers north of the town of Upsala on year-round forest service roads. It sits adjacent to Mack Station on the old Grand Trunk Railway, running from Lake Superior to Fort William, which has been decommissioned to a road bed. The staked area covers some of the highest palladium and copper in lake sediment values in the area, reaching 64 ppm Cu and 16 ppm Pd, and is associated with a 5 kilometer long north-northwest trending regional magnetic high (Figure 1). The magnetic data covering most of the trend is coarse resolution, from a historic Geological Survey of Canada survey in the 1960s flown at half mile flight line spacing. There is no historic drilling and little to no outcrop exposure in the area, precluding historic exploration efforts.
Figure 2. Magnetic plan map (upper) and section (lower) for the downhole EM borehole survey currently underway at the Westwood property, utilizing drill holes 001 and 002 from the maiden drill program completed last month, in December, 2024.
Photo 1. View west at the south end of Sisson Lake on the Westwood property, covering a large, mineralized, polyphase mafic-ultramafic intrusion discovered in the maiden drill program in December. Ice making has been ongoing since late December over the area of our priority target for Cu-Ni-PGE-Au mineralization, with the goal of drilling from the ice next month (February).
About the Empire District Project
The Empire project consists of 413 mineral claims in 2 contiguous blocks covering 12,334 hectares. The project is located on Federal Crown Land, with mineral rights administered by the Ontario Ministry of Mines. There is a 2% net smelter royalty on the claims. There are no annual payments, but the Ministry requires certain annual exploration expenditures and reporting (i.e. mineral assessment reports) in order to maintain a mineral claim in good standing. The project falls within the Lac de Mille Lacs First Nation traditional territories.
Technical Information
Surface grab samples and drill core samples were submitted for geochemical analysis to the AGAT laboratory in Thunder Bay, Ontario. Drill core was logged, cut and sampled at the Holbik Exploration warehouse in Upsala, Ontario, with sample preparation completed by AGAT in Thunder Bay alongside gold and PGE determination by atomic absorption assay. ICP-MS analyses for base metals, whole rock, and trace elements is performed at AGAT's laboratory in Calgary, AB. 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 and internally at the laboratory by AGAT, as described by AGAT.
Technical information for this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. The content of this news release has been reviewed on behalf of the Company by Justin Daley, MSc, PGeo, President & CEO at VR, and a non-independent Qualified Person who oversees and/or participates in all aspects of the Company's mineral exploration projects.
About VR Resources Ltd.
VR is an established junior exploration company based in Vancouver (TSX.V: VRR; Frankfurt: 5VR; OTCQB: VRRCF). VR evaluates, explores and advances opportunities in copper, gold and critical metals in Nevada, USA, and Ontario, Canada. VR applies modern exploration technologies, in-house experience, and expertise in greenfields exploration to large-footprint systems in underexplored areas/districts. The foundation of VR is the proven track record of its Board in early-stage exploration, discovery and M&A. The Company is financed for its mineral exploration and corporate obligations. VR owns its projects outright and evaluates new opportunities on an ongoing basis, whether by staking or acquisition.
ON BEHALF OF THE BOARD OF DIRECTORS:
"Justin Daley”
Justin Daley, MSc, P.Geo
President & CEO
For general information please use the following:
| Website: | www.vrr.ca |
| Email: | [email protected] |
| Phone: | 778-731-9292 |
This news release contains statements that constitute "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this document include statements concerning VR's expectations that it will be providing further updates as work continues on the ground on both the Empire and Silverback projects, and all other statements that are not statements of historical fact.
Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature, forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with: general economic conditions; adverse industry events; future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada; the ability of the Company to implement its business strategies; competition; and other assumptions, risks and uncertainties.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
This news release may also contain 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.
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