VR intersects broad zones of silica-sulphide alteration in first pass drilling at Amsel Drilling to resume early summer. NR-02-22
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 broad zones of silica-sulphide alteration in first pass drilling at Amsel
Drilling to resume early summer.
NR-02-22
March 22 , 2022, Vancouver, B.C.: VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCQ B: VRRCF), the
"Company", or “VR”, has completed the first leg of the planned two-phase reconnaissance drill program
at its Amsel epithermal gold-silver property located in west-central Nevada.
Three reverse circulation (“RC”) holes on northern IP anomaly to depths of 774 - 823 ft, for 2,402
ft in total (732 m).
Each hole successfully intersected continuous silica-sulphide alteration through its entirety.
Water pressure at the 800 ft level resulted in the termination of each RC hole. Each hole
bottomed in the silica-sulfide alteration in the core of the IP anomaly.
Figure 1 and Figure 2 show photographs of drill chips which are mostly quartz- adularia altered tuff,
hydrothermal quartz with sulfide, individual sulfide grains and sulfide clots, and tuffisite breccia with silica
flooding and disseminated sulfide.
A total of 534 samples were collected in continuous sequence in order to completely capture the
alteration intersected throughout the entirety of each hole. The samples have been received by the ALS
laboratory in Reno, and we expect and anticipate results some time in May, 6-8 weeks from now.
Figure 3 shows the location of the three holes, which test along the strike of, and across, the northwest-
trending axis of the northern IP anomaly and corresponding airborne radiometric potassium anomaly
which corresponds to quartz-adularia alteration in rhyolite tuff and tuffisite breccia mapped on surface.
The cross-section in Figure 4 illustrates how the three RC holes just completed to the 800 ft level bottomed
in silica-sulfide alteration in the core of the northern IP anomaly.
CEO Comment
From VR’s CEO Dr. Michael Gunning: “We are very pleased to have intersected the silica-sulphide
alteration system that we were targeting below the altered cap unit that forms the hilltop at Amsel.
Indeed, these first-ever drill holes into the heart of the epithermal gold system at Amsel confirm a strong
vertical dimension to the large quartz-adularia alteration footprint that we have mapped on surface during
the past four years.
We used state-of-the-art 3D-array DCIP technology for drill targeting because the DCIP survey maps sulfide
chargeability, and VR’s mapping and prospecting along the 20 km long Big Ten mineral trend has
established a strong correlation between gold mineralization and pyrite-bearing quartz veins and pyrite in
altered tuffisite breccia . An example is provided at the end of Big Ten – Amsel project page on the
Company’s website, with a photograph and 58 g/t gold assay for a rock sample of altered tuff with pyrite
from the Company’s Clipper Property located 10 km southeast along trend from 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
Further, the relationship of gold mineralization to pyrite is well established at the 20Moz Round Mtn. gold
deposit located 45 km to the northwest of Amsel, and hosted in a Tertiary rhyolite caldera of the same
age.
The sulfide-bearing alteration intersected from top to bottom in the three RC drill holes just completed
demonstrates that the DCIP technology deployed in 2019 was the right tool to identify the core of the
broad silica-adularia, potassium alteration footprint evident on surface at Amsel.
On face value, the plan map and section of the IP data in Figure s 3 and 4 make clear that despite the
breadth of sulfide alteration intersected throughout all three of the 800 ft holes just completed in the
northern IP anomaly, the southern IP anomaly anchored by the opposing southern volcanic horst fault
appears to be, by comparison: 1. l arger in plan view; 2. more deeply rooted; 3. higher amplitude
chargeability (greater sulfide content) , and 4. is below a surface gold- silver geochemical anomaly that
includes the high temperature indicator assemblage of thallium -tungsten-moly and lead indicative of
proximity to the source of the overall epithermal gold fluid system at Amsel.
Suffice it to say, and pending assays of course, our conviction is now strengthened to follow-up the sulfide
alteration intersected in these initial RC holes by using diamond drilling this summer for the second leg of
this first pass drilling so that we can properly test the full depth extent of the epithermal system at Amsel
that is responsible for the surface alteration footprint covering some 2 x 3 km on the hill top.”
Going Forward
Drilling is planned to resume in late-spring/early summer when weather conditions are more favourable
for drilling on the slopes of the hill at Amsel, especially the southern IP anomaly on the south flank.
The second leg of this fi rst-pass drilling will include the first holes into the larger southern IP anomaly,
anchored to the southern volcanic horst fault. In addition, we plan to use the diamond drill to properly
evaluate the full depth extent and mineral potential of the sulfide alteration intersected in the three initial
RC holes just completed into the northern IP anomaly.
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.
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C 1T2
Tel: 604-262-1104; [email protected]
TSX.V: VRR: www.vrr.ca
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
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. I ntegrated 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 2019, 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 systematic e xploration 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 epithermal 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 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, 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 establishe d 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 future events. Forward looking statements in this release include but are not limited to: “The samples
have been received by the ALS laboratory in Reno, and we expect and anticipate results some time in May, 6-8 weeks
from now; our conviction is now strengthened to follow -up the sulfide alteration intersected in these initial RC holes
by using diamond drilling this summer, 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.
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.
Figure 1 . Micro-photograph of RC drill chip with sulfide in hydrothermal quartz from drill hole
AMRC22_001 at 705 feet depth . Field of view is 1cm. First-pass drilling by VR in 2022 is targeting the
main IP anomalies at Amsel for pyrite and hydrothermal quartz in altered rhyolite tuffisite breccia
because there is an association of gold and silver mineralization with pyrite alteration on surface at
Amsel, and along the entire 20 km trend of mineral showings in the Big Ten caldera.
Figure 2 . Photograph of RC drill chips from drill hole AMRC22_002 at 370 feet, including pyrite in
hydrothermal quartz a nd individual grains of sulfide . First -pass drilling by VR in 2022 is targeting the
main IP anomalies at Amsel for pyrite and hydrothermal quartz in altered rhyolite tuffisite breccia
because there is an association of gold and silver mineralization with pyrite alteration on surface at
Amsel, and along the entire 20 km trend of mineral showings in the Big Ten caldera.
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. Location of the three RC holes completed in March, 2022, relative to the DC IP anomalies shown in in red, themselves located in the southwest
quadrant of the large airborne radiometric potassium anomaly which is coincident with quartz-adularia alteration map on surface and covering the hilltop
at Amsel. The north-south profile line locates the cross-section shown in Figure 4. Black triangles are permitted drill holes. First-pass drilling is in two
stages: RC drill holes completed this winter test the northern IP anomaly, and the south IP anomaly, and Grove, will be drill tested 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 4. A north-south section through the 3D inversion block model derived from the DIAS 3D -array DCIP survey completed in 2019. Shown
schematically are the three RC drill holes completed in the northern IP anomaly. The second leg of drilling planned for this summer will focus
on the larger, southern IP anomaly. For reference, the chargeability anomalies in pink are shown in red on the plan map in Figure 3.