Vr Discovers Large Gravity Anomaly at It’S Ranoke Copper-GOLD Property IN Ontario, Initiates IP Geophysics and Commences Drill Permitting NR-19-13
VR RESOURCES LTD.
1750 - 700 West Pender St.
Vancouver, BC, Canada, V6C 1G8
Tel: 604-262-1104; [email protected]
TSX.V: VRR: www.vrr.ca
VR DISCOVERS LARGE GRAVITY ANOMALY AT IT’S RANOKE COPPER-GOLD PROPERTY
IN ONTARIO, INITIATES IP GEOPHYSICS AND COMMENCES DRILL PERMITTING
NR-19-13
August 21 , 201 9, Vancouver, B.C.: VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCBB: VRRCF), the
"Company", or “VR”, is pleased to announce that it has discovered a large and high amplitude gravity
anomaly co-spatial with the magnetic anomaly at Ranoke copper-gold property in northern Ontario.
Figure 1. Gravity anomaly. See Figure 2 at the end of this News Release for a complete survey image,
and Figure 3 for the co-spatial magnetic anomaly.
From VR’s CEO Dr. Michael H. Gunning “I am not sure that this airborne survey could have delivered a
more definitive anomaly and more compelling evidence for a large and coherent body of high- density
copper sulfide related to variably magnetic iron oxide minerals at Ranoke. Ranoke is in a tectonic setting
favourable for a large IOCG system, and is surrounded by alkaline and ultramafic intrusions and diatremes
which demonstrate a long-lived history of repeated intrusions along a crustal-scale mega-structure. This
survey confirms and advances the potential for a large IOCG mineral deposit at Ranoke, one which VR has
Data from Sander Geophysics Limited, Aug. 2019.
VR RESOURCES LTD.
1750 - 700 West Pender St.
Vancouver, BC, Canada, V6C 1G8
Tel: 604-262-1104; [email protected]
TSX.V: VRR: www.vrr.ca
the expertise, conviction and funding to advance . To that end, I would like to acknowledge the work of
Sander Geophysics Limited on the survey, from design and planning to final processing, and Condor
Consulting Inc. for independent 3-D inversion modeling; their expertise and rigour with gravity data, and
commitment to understanding the context for this survey within VR’s integrated exploration database has
increased our confidence in the robust and rooted character of the Ranoke anomaly in three dimensional
space. W e will ensure for a similar level of execution for the upcoming follow -up IP survey, and look
forward to providing further updates as our work advances.”
Figure 2. Gravity anomaly.
The gravity anomaly at Ranoke is both large, at approximately 4 x 8 kilometres in size, and high amplitude
at > 2.5 mGal contrast to country rock. Key observations include:
An independent 3 -D inversion of the data models the northern, and strongest p ortion of the
anomaly coming to near-surface;
The 3-D inversion also models the northern portion of the anomaly to be near -vertical and
continuous from near-surface to depth below the strongest, northern portion of the anomaly;
The north-south elongation of the anomaly is coincident with the magnetic anomaly at Ranoke;
This gravity anomaly is consistent with a gravity feature indicated in the historic, regional gravity
data from the Geological Survey of Canada.
Figure 3. Magnetic anomaly.
This survey reproduces and refines the large magnetic complex and anomal y evident in the historic,
regional magnetic data from the Geological Survey of Canada (compare Figure 3 below with Figure 2 in
the previous news release dated June 11, 2019). Salient features of the magnetic anomaly include:
The anomaly is high amplitude at > 1,000 nT contrast to country rock;
The anomaly is sharply defined with near-vertical structurally controlled margins evident on first
vertical derivative maps (1VD);
An independent 3 -D inversion of the data models the northern, circular magnetic feature as a
vertical body continuous from surface to depth.
The magnetic body is robust because it is apparent in all magnetic survey products, including
total magnetic intensity maps, vertical derivative maps and magnetic gradient maps.
The gravity signature of iron oxide copper gold deposits (IOCG) in Australia is well-established because of
the high density of iron oxide and copper sulfide minerals in massive breccia form . As a result of the
strong gravity anomaly now evident at Ranoke, the Company has:
1. Confirmed plans for a ground -based induced polarization geophysical survey (IP), to test for
chargeable sulfide minerals associated with the gravity and magnetic anomaly at Ranoke. The
survey will deploy at the end of this week and will take approximately two weeks to complete;
2. Initiated the drill permitting process with the Ontario Ministry of Northern Development and
Mines (MNDM).
VR RESOURCES LTD.
1750 - 700 West Pender St.
Vancouver, BC, Canada, V6C 1G8
Tel: 604-262-1104; [email protected]
TSX.V: VRR: www.vrr.ca
About the Ranoke Property
The Ranoke property is located in northern Ontario , Canada. Infrastructure local to Ranoke is shown on
location figures provided at the Company’s website at www.vrr.ca. The property is 15 kilometers west of
the CNR railway spur which supplies Moosonee located on tide water 100 kilometres to the northeast ,
and it is 50 kilometres north of road access to Coral Rapids , an Ontario hydroelectric facility serviced by
Highway 634. Exploration at Ranoke is facilitated by the town of Cochrane which is located about 100
kilometres to the south on the Trans Canada Highway, and is the major service hub to the region.
The Ranoke property is large . It co nsists of 360 claims in one contiguous block covering 7,400 ha in an
area 12 x 12 kilometres in size. The Ranoke property was staked directly by VR. It is owned 100% by VR,
free and clear of any interests or royalties.
Technical Information
Summary technical and geological information on the Company’s various exploration properties is
available at the Company’s website at www.vrr.ca.
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., Principal Geologist at VR and a
non-independent Qualified Person oversees an d/or participates in all aspects of the Company’s mineral
exploration projects. 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.
About VR Resources
VR is an emerging junior exploration company focused on greenfields opportunities in copper and gold
(TSX.V: VRR; Frankfurt: 5VR; OTCBB: VRRCF). 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 is focused
on exploring large copper-gold mineral systems in the western United States and Canada. VR is the
continuance of 4 years of active exploration in Nevada by a Vancouver-based private exploration
company. VR is well financed for its exploration strategy. 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, PGeo
President & CEO
For general information please use the following:
Website: www.vrr.ca
Email: [email protected]
Phone: 604-262-1104
VR RESOURCES LTD.
1750 - 700 West Pender St.
Vancouver, BC, Canada, V6C 1G8
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, and similar expressions or are those which, by their nature,
refer to future events. Forward looking statements in this release include but are not limited to: “This survey confirms
and advances the potential for a large IOCG mineral deposit at Ranoke.”; “ The survey will deploy at the end of this
week and will take approximately two weeks to complete.
Although the Company believes that the use of such statements are 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 are available at www.sedar.com; 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.
VR RESOURCES LTD.
1750 - 700 West Pender St.
Vancouver, BC, Canada, V6C 1G8
Tel: 604-262-1104; [email protected]
TSX.V: VRR: www.vrr.ca
Figure 2. The large (4 x 8 kilometre), high amplitude (> 2.5 mgal) gravity anomaly defined at the Ranoke property by the high
resolution airborne survey completed in June, 2019. See Figure 3 for co-spatial magnetic anomaly.
Data from Sander Geophysics Limited, Aug. 2019.
VR RESOURCES LTD.
1750 - 700 West Pender St.
Vancouver, BC, Canada, V6C 1G8
Tel: 604-262-1104; [email protected]
TSX.V: VRR: www.vrr.ca
Figure 3. The large and high amplitude (> 1,000 nt) magnetic anomaly defined at the Ranoke property by the high-resolution
airborne survey completed in June, 2019. See Figure 2 for co-spatial gravity anomaly.
Data from Sander Geophysics Limited, Aug. 2019.