VR intersects 205 ft of silver and gold mineralization in its first hole at Amsel; plans are now underway for the second leg of drilling this summer. NR-05-22
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C 1T2
Tel: 604-262-1104; [email protected]
TSX.V: VRR: www.vrr.ca
VR intersects 205 ft of silver and gold mineralization in its first hole at Amsel;
plans are now underway for the second leg of drilling this summer.
NR-05-22
June 1, 2022, Vancouver, B.C.: VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCQB: VRRCF), the "Company",
or “VR”, has received all geochemical data from the first phase of drilling completed in March at its Amsel
property in Nevada. In three reverse circulation holes (“RC”) completed to depths ranging from of 774 –
823 ft (236 - 251 m), gold and silver mineralization was intersected in altered tuff in the upper part s of
Holes 1 and 2, in the lower part of Hole 1, spanning about 200 vertical metres overall in the uppermost
part of the epithermal gold-silver system at Amsel:
Hole 1: 62.5m @ 15.9 g/t Ag & 0.10 g/t Au, incl.:
12.2m @ 32.6 g/t Ag & 0.12 g/t Au, starting at 211.8 m.
Hole 2: 7.6m @ 7.5 g/t Ag & 0.5 g/t Au starting at 7.6 m, incl. 0.9 g/t Au over 1.53 m.
Figure 1 shows the large, 2 x 3 km potassium alteration footprint of the low-sulfidation, epithermal gold-
silver system at Amsel, the array of permitted drill hole s covering the three main IP target areas named
North, South and Grove, and the three drill holes completed in March , all located in the North IP block .
The second leg of the two -stage reconnaissance drill program is planned for this summer , designed to
complete the drill testing of all three of the main target areas.
As shown in Figure 1, silver soil geochemistry is by far the strongest in the southwest quadrant of the large
surface alteration zone at Amsel. The correlation with the South IP anomaly is strong, and it will be the
focus of drilling this summer; to explore for higher grades in the high temperature core of the system.
CEO Comment
From VR’s CEO Dr. Michael Gunning: “The 205 feet of gold and silver mineralization in the bottom of Hole
1 confirms a strong vertical dimension to the large alteration footprint that is exposed on surface at Amsel.
I encourage our shareholders to take a few moments to scroll through the figures below to understand our
conviction for continued drilling this summer to test the South IP anomaly located in the adjacent structural
block for greater concentrations of sulfide, gold and silver.
The goal of the two-stage reconnaissance drill program is to test all three of the main target areas within
the broad surface alteration footprint at Amsel. We started on the North IP anomaly this past winter
mostly for logistical reasons. The South IP anomaly targeted for this summer is, by comparison: 1. larger
in plan view; 2. more deeply rooted in cross-section; 3. stronger in chargeability values, and 4. located
below the strongest silver soil geochemistry with an associated high-temperature signature of thallium-
tungsten-moly and lead. The last two points are particularly important in terms of “what’s next” at Amsel.
Hydrothermal fluids are channeled by faults. The large epithermal system at Amsel is anchored by a horst
structure developed along the western margin of the Big Ten caldera, as shown in Figure 5. Based on points
one to four f rom above, we believe that the southern block of the horst was the principal pathway for
hydrothermal fluids and pyrite deposition proximal to the high temperature source at Amsel, and so that
is where we plan to take the drill this summer ; to the South IP anomaly to search for higher grades
compared to those in the broad intersection in Hole 1 located in the adjacent structural block to the north.
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C 1T2
Tel: 604-262-1104; [email protected]
TSX.V: VRR: www.vrr.ca
The correlation of the core attributes at Amsel to the 20Moz gold system at Round Mtn. located nearby to
the north reminds us of the upside potential at stake at Amsel, and thus the importance of testing all of
the key targets across the entire alteration system exposed at surface. I hope this NR illustrates why VR
intends to be the first company ever to do so.”
Illustration of Strategy Going Forward
Figure 2 shows an oblique view of the 3D chargeability model for Amsel, with molybdenum geochemistry
on drill traces down the axis of the North IP anomaly. The DCIP survey in 2018 successfully mapped sulfide.
Figure 3 shows the strength in lead geochemistry over the South IP anomaly. Lead is an indicator of
proximity to fluid and heat source. The magnetic high visible on this map immediately to the east of the
lead anomaly and South IP body is i nferred to be a n intrusion, and potentially the overall driver of the
hydrothermal system at Amsel.
Figure 4 shows the 3D iso-shells derived from the DCIP survey completed over the entire alteration system
at Amsel in 2019. The South IP anomaly will be targeted this summer for the second leg of drilling because:
1. it is the largest IP body; 2. it has the strongest chargeability values indicative of greater sulfide, and; 3.
it is the most deeply rooted IP body, as is more easily seen in Figure 5 on the north-south cross section
through the 3D model of the IP inversion.
Figure 6 is a photo of RC drill chips from the botto m of Hole 1, showing fine-grained pyrite and
hydrothermal quartz within the low grade but broad intersection of silver and gold; additional photos of
alteration and sulfide in drill chips from the North IP anomaly are available in the previous news release
dated March 22, 2022. The South IP block will be tested this summer for higher grades of gold and silver
because the stronger chargeability values in the IP data (see figure 4) are indicative of higher
concentrations of sulfide.
About the Big Ten Project
Property Location and Description
The Big Ten project is located in Nye County in west -central Nevada. It is in the southern part of the
Monitor Range, approximately 50 kilometres northeast of Tonopah. Cost effective exploration is afforded
by road access to the property on Nevada State Highway 82, with actively used historic ranch and mine
roads throughout and within the various properties along the trend.
There are currently seven properties along the 20 km length of the Big Ten mineral trend. They total 117
claims covering 2,417 acres. Each property is a single, contiguous claim block. The properties are owned
100% by VR, registered to the Company’s wholly -owned, Nevada-registered US subsidiary. There are no
underlying annual lease payments on the property, nor are there any joint venture interests, carried
interests or back-in rights on the various properties. There is a 3% net smelter returns royalty on certain
claims in the Danbo property, and a 2% net smelter returns royalty on the Amsel property, which currently
consists of 66 claims covering 1,363 acres.
Geology and History
The Big Ten Tertiary volcanic caldera is located along the eastern margin of the Walker Lane mineral belt,
host to numerous Cenozoic-aged gold and silver deposits in western Nevada. Big Ten is located 45 km to
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C 1T2
Tel: 604-262-1104; [email protected]
TSX.V: VRR: www.vrr.ca
the southeast of the Round Mountain deposit which is hosted in a rhyolite volcanic center (caldera) that
is roughly the same age as Big Ten, and in 2020 surpassed 20 Moz of produced gold (Kinross Gold
Corporation). The correlation of adularia and pyrite alteration with gold at Amsel and along the 20km Big
Ten trend is also well documented at the low-sulfidation epithermal system at Round Mountain.
The current Big Ten land package held by VR is the result of reconnaissance surface exploration from 2017
through 2020, in cluding a high resolution, airborne magnetic and radiometric survey and an airborne
hyperspectral survey used to map alteration minerals. Integrated results from the exploration define a
structural corridor and mineral trend 20 km long which transects the entire Big Ten volcanic caldera.
Amsel has been the focus of exploration since 201 8, based on the sheer size of its quartz -adularia
alteration footprint. There are historic workings at Amsel from the 1920’s, and cursory exploration in the
late 1970’s, with no modern or systemat ic exploration since. VR has the opportunity to be the first
Company to use new exploration technologies on the large-scale alteration system that were not available
in the 1970’s, and similarly, to apply current mineral deposit models developed for epith ermal gold and
silver deposits in the Walker Lane belt during the past 40 years, including Round Mountain.
The Company’s website at www.vrr.ca provides a more complete overview of the Big Ten epithermal gold
project, including locations and descriptions of the seven individual properties, select property-scale plan
maps with gold-silver assays from surface grab samples, and field photographs of epithermal textures in
sulfide-bearing quartz veins. Included is a bulleted summary of the various airborne surveys and surface
exploration programs completed by VR during the past 5 years.
Technical Information
Summary technical and geological information on the Company’s various properties is available at the
Company’s website at www.vrr.ca.
VR submits all surface grab samples and/or drill core samples collect ed from 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 a re 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 Nationa l Instrument 43 -101, and reviewed by Justin Daley, P.Geo., Exploration
Manager and Chief Geologist at VR and a non -independent Qualified Person who oversees and/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.
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C 1T2
Tel: 604-262-1104; [email protected]
TSX.V: VRR: www.vrr.ca
About VR Resources
VR is an established junior exploration company focused on greenfields opportunities in copper and
precious metals (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 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.
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
Forward Looking Statements
This press release contains forward -looking statements. Forward -looking statements are typically
identified by words such as: believe, expect, plans, anticipates, intends, estimate, and similar expressions
or are those which, by their nature, refer to fut ure events. Forward looking statem ents in this release
include but are not limited to : “follow up this drilling by testing the Southern IP block this summer for
higher gold and silver grades in the center and root of the epithermal system at Amsel, 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 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. All of the Company’s public disclosure filings are available at
www.sedar.com; readers are urged to review these materials.
either 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.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C 1T2
Tel: 604-262-1104; [email protected]
TSX.V: VRR: www.vrr.ca
Figure 1. Location of the three RC drill holes completed in March, 2022, relative to the DCIP anomalies shown in red, and located within
the southwest quadrant of the large airborne radiometric potassium anomaly and coincident quartz-adularia alteration map ped on
surface covering the hilltop at Amsel. Black triangles are permitted drill holes. First-pass drilling is in two stages: the North IP anomaly
was tested this past winter, and; the South IP anomaly and Grove anomalies are targeted for the second leg of drilling this summer.
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C 1T2
Tel: 604-262-1104; [email protected]
TSX.V: VRR: www.vrr.ca
Figure 2. Moly geochemistry shown as coloured disks on the three down-hole drill traces into the North IP anomaly, with coloured, 3D iso-
shells from the DCIP survey draped on topography of the Amsel hilltop. This is a north-south section across the North and South IP anomalies
shown on the plan map in Figure 1. This geochemistry confirms that sulfide mineralization at Amsel correlates with IP anomalies. As such,
shown are the drill traces into the larger and more deeply rooted South IP anomaly planned for the second leg of drilling this summer.
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C 1T2
Tel: 604-262-1104; [email protected]
TSX.V: VRR: www.vrr.ca
Figure 3: Lead is a high temperature geochemical indicator of proximity to fluid source. This is lead data from the soil grid covering the
entire potassium anomaly at Amsel, plotted on an RTP magnetic map derived from the airborne survey flown by VR in 2018. Lead
geochemistry is strongest over the South IP anomaly, which occurs within the low-magnetic alteration halo on the west margin of the
magnetic high shown in red, which is inferred to be an intrusive plug and the potential driver of the overall hydrothermal system at Amsel.
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C 1T2
Tel: 604-262-1104; [email protected]
TSX.V: VRR: www.vrr.ca
Figure 4. 3D iso-shells from the DCIP survey completed in 2019 at Amsel, plotted on a satellite image of the hill top. Shown
are the locations of the three RC drill holes completed in March into the North IP anomaly, and the traces of holes planned
for the second leg of drilling this summer into the larger, and stronger South IP anomaly. The purple colours in the South IP
anomaly are for stronger chargeability values which are indicative of greater abundance of sulfide minerals.