Drilling is underway at VR’s Reveille silver-copper property in Nevada NR-21-07
VR RESOURCES LTD.
2300 – 1177 West Hastings St.
Vancouver, BC, Canada, V6E 2K3
Tel: 604-262-1104; [email protected]
TSX.V: VRR; www.vrr.ca
Drilling is underway at VR’s Reveille silver-copper property in Nevada
NR-21-07
March 02, 2021, Vancouver, B.C.: VR Resources Ltd . (TSX.V: VRR, FSE: 5VR; OTCBB: VRRCF ), the "Company,” or “VR,” is
pleased to announce that drilling is underway at its Reveille silver-copper property in Nevada.
Photo 1 is a field photograph from the weekend, Sunday, February 28th, showing the RC drill rig on the permitted drill site
at the T1 conductor shown in Figure 1. The RC drilling now under way is Phase 1 of a planned two -stage program, with the
current objective of completing upwards of 1,500 metres in 5 to 6 holes during the next 2 weeks.
Figure 1 is a map showing the locations of all of the permitted drill holes at Reveille. The specific drill hole locations for the
current program are based on anomalies derived from inversion models of magnetic, EM and gravity geophysical data
collected by VR in 2020.
Geochemical data from this drilling are expected in April. VR will also obtain high resolution hyperspectral data of rock chips
spanning the entirety of each drill hole in order to quantify alteration mineral assemblages.
IP Survey completed. The Company is also pleased to announce that the 3D array DCIP geophysical survey shown on Figure
1 was completed last week, prior to drilling. The IP survey will map both alteration and mineralization attributes below the
valley cover and west of the range where the historic and high grade silver -copper showings are exposed at surface.
Inversion models and 3D voxels derived from the survey are expected in April.
Two-Stage Drill Program Strategy. The overall strategy is to use the IP and resistivity models derived from the recently
completed survey in conjunction with new geochemi cal data and alteration mineral data obtained from the current Phase
1 drill program to prioritize targets for the second phase of drilling planned for later this spring. As shown in Figure 1, the IP
survey in particular will shed light on the area south and west of the drill holes planned for the current program which
themselves are based primarily on magnetic, EM and gravity anomalies already in hand.
The Context
VR has been working on Reveille continuously since June of last year, with field work wrapping up in the third week of
December. Integrated targets derived from detailed structural mapping, extensive rock sampling, a high-resolution airborne
EM and magnetic survey and a detailed ground gravity survey are apparent on the western side of the district-scale property
for both silver-copper CRD mineralization, and for gold related to late, Carlin-style fluids. Both target types were illustrated
in recent news releases dated December 21st, 2020, and January 14th, 2021.
VR is exploring the covered valley on the western flank of the range because it has never been previously explored or drilled
as the potential source and overall driver of the high-grade silver-copper mineralization at Reveille during the past 140 years
of prospecting which has focused on the high -grade showings exposed in the hills of the Reveille range to the east. VR is
focused squarely on targets for proximal, high temperature mineralization that are core to the overall CRD mineral system
at Reveille based on an array of new geochemical data and element ratio vectors.
From VR’s CEO Dr. Michael Gunning , “The targets are ready, the permit is in hand, the drill crew and rig are on site and
the weather is terrific. Our strategy is simple: to provide our shareholders with the near -term upside potential of a copper -
silver discovery at Reveille this winter as we await the permit for our nearby Amsel gold project to the north where we
continue to plan for a drill program this summer.
The blue sky in the field photograph in this news release has relevance. The area in that photo has never been drilled before,
period, despite its proximity to historic workings in the nearby hills with grab sample assays commonly in excess of 1,000 g/t
silver and 1 % copper respectively. Our goal is simple: a greenfields discovery which identifies for the first time silver and
copper mineralization proximal to the source and driver to the overall CRD mineral system responsible for the array of high
grade showings and historic workings in the south Reveille range.
We look forward to providing further updates as our exploration advances through March.”
VR RESOURCES LTD.
2300 – 1177 West Hastings St.
Vancouver, BC, Canada, V6E 2K3
Tel: 604-262-1104; [email protected]
TSX.V: VRR; www.vrr.ca
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 all surface grab samples and/or drilling samples collected fr om its Nevada-based exploration projects for
geochemical analysis to the ALS Global (“ALS”) laboratory in Reno, Nevada. Sample preparation is completed in Reno.
Analytical work is completed at the ALS laboratories located in Vancouver, BC., including ICP -MS analyses for base metals
and trace elements, and gold determination by atomic absorption assay. Analytical results are subject to industry-standard
and NI 43-101 compliant QAQC sample procedures at the laboratory, 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., Exploration Manager & Chief Geologist at VR and a non -
independent Qualified Person oversees and/or participates in all aspects of the Company’s mineral exploration projects and
has reviewed the content of this news release. The Company’s CEO, Dr. Michael Gunning, P.Geo., is also a non-independent
Qualified Person.
About the Reveille Property
The Reveille property is located approximately 90 km’s east of Tonopah, Nevada . Access is via Highway 6, with local roads
and trails in and around the property itself.
The Reveille property consists of 66 mineral claims in one contiguous block covering 1,344 acres (544 hectares) over an
area of approximately 2 x 3 km’s. The property is on federal land administered by the BLM, and are outside of the BLM’s
broadly defined area of sage grouse protection. There are no underlying annual lease payments on the property, nor are
there any joint venture or carried interests on the property. There is an industry-standard royalty attached to the
property, with a standard buy-back provision to VR.
About VR Resources
VR is an established junior exploration company focused on greenfields opportunities in copper and precious metals (TSX.V:
VRR; Frankfurt: 5VR; OTCBB: VRRCF). VR is the continuance of 4 years of active exploration in Nevada by a Vancouver-based
private company. The diverse experience and proven track record of its Board in early- stage exploration, discovery and
M&A is the foundation of VR. The Company focuses on underexplored, large -footprint mineral systems in the western
United States and Canada, and is well financed for its exploration strategies and corporate obligations. VR owns its
properties outright, and evaluates new opportunities on an ongoing basis, whether by staking or acquisition.
The Company continues its normal course of business in 2021 within the framework of modified exploration programs in
response to the COVID-19 pandemic, with the goal of ensuring the health and safety of staff and project personnel.
ON BEHALF OF THE BOARD OF DIRECTORS:
“Michael H. Gunning”
____________________________
Dr. Michael H. Gunning, PhD, PGeo
President & CEO
For general information please use the following:
Website: www.vrr.ca
Email: [email protected]
Phone: 604-262-1104
VR RESOURCES LTD.
2300 – 1177 West Hastings St.
Vancouver, BC, Canada, V6E 2K3
Tel: 604-262-1104; [email protected]
TSX.V: VRR; www.vrr.ca
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 are those which, by their nature,
refer to future events. Forward looking statements in this release include “The objective is to complete upwards of 2,000
metres of drilling over the next 2-3 weeks on the northern six holes shown in Figure 1.”, 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 n or
rights to explore. Readers are cautioned that mineral deposits on adjacent or 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. R eaders are urged to review all of the
Company’s public disclosure filings available at www.sedar.com.
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
VR RESOURCES LTD.
2300 – 1177 West Hastings St.
Vancouver, BC, Canada, V6E 2K3
Tel: 604-262-1104; [email protected]
TSX.V: VRR; www.vrr.ca
Photo 1. RC drill rig on VR’s Reveille silver-copper property, Sunday, February, 278h, to begin Phase 1 of a two-stage drill
program planned for the first half of 2021. The location and target is the permitted drill site at the T1 conductor shown in
Figure 1.
VR RESOURCES LTD.
2300 – 1177 West Hastings St.
Vancouver, BC, Canada, V6E 2K3
Tel: 604-262-1104; [email protected]
TSX.V: VRR; www.vrr.ca
Figure 1. Location of drill holes and a 3D array DCIP geophysical survey planned for February-March, 2021 at Reveille, plotted on
a RTP magnetic base map derived from a high-resolution airborne EM survey completed in July, 2020. Assays shown at workings
are from VR sampling in June, 2020. The two dashed lines outline the northeast-southwest fold axis mapped by VR this summer
which controls silver-copper mineralization at Reveille, with the magnetic anomaly in the pink contours as the potential driver
and source of the fluids. The sample with 34 g/t gold is new, and the gravity low in the middle of the 600 m gold trend will be
drill-tested for a gold-bearing jasperoid breccia body.