VANCOUVER, British Columbia, Jan. 28, 2025 (GLOBE NEWSWIRE) -- VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCBB: VRRCF), the "Company", or “VR”, is pleased to announce that drilling is now underway at its Silverback copper-gold project in northwestern Ontario.
The first hole, SB25-003, is at the southern end of the highest priority, Central Zone (CZ) IP chargeability anomaly shown on plan map and section in Figure 1. The drill set up in the field this past weekend is shown in Photo 1.
Pad building activities at both SB25-003 & 004, shown on Figure 1, have revealed evidence of shearing, hydrothermal alteration, and sulfides for the first time in this area of glacial cover. A porphyry intrusion and disseminated sulfides in carbonate altered gabbro wall-rock have also been noted at the pad area planned for SB25-004, at the north end of the CZ anomaly east of the main copper-gold showing.
Overall, this phase of drilling at Silverback will focus on two target types: shear zone hosted copper-gold-silver mineralization along north-northeast trending structures evident in our magnetic data, and a common host for gold in the Marmion Terrane; and intrusion-related mineralization first observed in a weakly sheared, gold-bearing porphyry intrusion intersected in Hole 2 completed earlier in 2024 (see location in Figure 1).
From VR's CEO Justin Daley: “We’re excited to have the drill back at Silverback to test chargeability anomalies in our new 3D DCIP data received in December of last year.
Most important is the CZ anomaly in the center of the project. It is 1,200m long by 300m wide, and is coincident with mapped structures and high-grade copper, gold, and silver in sheared rocks exposed on surface. The first few drill holes at CZ are planned as a widely spaced fence to target areas along the 1.2 km long anomaly where there is a strong near-surface expression of the IP chargeability and associated with local DIGHEM conductors.
The CZ anomaly is both large, and robust; it integrates with surface showings of polymetallic copper-gold mineralization, structural mapping of shearing, and magnetic, DIGEHEM conductivity and IP resistivity geophysical data. We intend to adjust our planned drilling based on what we see and learn in each hole, and look forward to providing further updates as our drilling progresses.”
Central Zone (CZ) Target
CZ is the largest anomaly in the DCIP survey completed last fall at Silverback. It is roughly 1,200m long by 300m wide, and located in the center of the project area (Figure 1). It follows a NNE trending structural break evident in our high-resolution magnetic data and shown in Figure 1. This structure and its splays are associated with outcrops of sheared gabbro with high-grade copper-gold mineralization, and with the occurrence of molybdenite on fractures (Photo 2).
The magnetic response of the east-west trending mafic body is much lower across the IP anomaly, possibly due to demagnetization from hydrothermal alteration along the Central Zone structure.
Beyond the 1,200m long IP anomaly, the Central Zone structure continues northward as evidenced by near-surface DIGHEM conductivity anomalies. These may be the result of clay alteration associated with mineralization, as observed in Hole 2 completed last spring.
Figure1-01
Figure 1. Plan map (upper) and north-south section (lower) of the recent 3D array DCIP survey at Silverback, with locations for drill holes completed in the spring of 2024, and for those planned and now underway in 2025. The plan map shows IP isoshells at 12.5 mV/V (orange) and 15 mV/V (red) on a basemap with inferred shear-zones and outline of the mafic dykes and intrusions with copper-nickel sulfides, which span the entire property. The central and largest IP anomaly correlates with the strongest shear-fabrics observed in outcrop, and magnetic destruction evident in the gap in magnetic contours on the plan map and potentially the result of hydrothermal alteration.
Photo1
Photo 1. Drill setup for the first hole of the 2025 reconnaissance drill program at Silverback (drill site SB25-003 on the map in Figure 1).
About the Silverback Project
The project consists of 71 mineral claims in one contiguous block covering 4,442 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 Properties fall within the Lac de Mille Lac First Nation traditional territories.
Photo2
Photo 2. Examples of copper/gold mineralization found across the Silverback project related to an inferred intrusion-related source (refer to map in Figure 1 for location of zones). A: Remobilized copper, gold and silver mineralization in shear zone outcrop with strong silicification at Central Zone. B: Gold mineralized interval of weakly sheared porphyry intrusion at 95m depth in Hole 002 in the West Dyke zone, with quartz-carbonate veining and clay-sericite alteration. C: Quartz-carbonate veining with sulfides recently discovered in the North Arm zone within a dislocated extension of the east-trending mafic intrusion, and with the exact same habit and texture as those in Hole 2 located more than 2,500m to the west.
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.
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 complete a drill program at Silverback, 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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