VR is set to commence Phase I drilling at its Amsel gold-silver property in Nevada NR-01-22
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 is set to commence Phase I drilling at its Amsel gold-silver property in Nevada
NR-01-22
February 15 , 2022, Vancouver, B.C.: VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCQ B: VRRCF), the
"Company", or “VR”, is pleased to announce that it is on the ground in Nevada completing final
preparations for first-pass drilling at its Amsel gold-silver project in Nevada. Field crews cleared the main
access road and prepared drill sites in the last two weeks of January, and the drill is expected to arrive on
site this week to commence drilling.
CEO Comment
From VR’s CEO Dr. Michael Gunning: “The Company has four years of exploration under its belt at Amsel
and along the 20 km long trend of gold- silver veins within the Big Ten caldera. High-grade veins at the
Danbo property were our initial focus, but it is the Amsel property that has produced by far the most
compelling and integrated target for a large-scale epithermal gold-silver system.
The correlation of the Amsel target to the nearby Round Mountain deposit, a 120 year mining operation
which has now produced more than 20 Moz of gold, is outlined in NR-21-21 (Nov. 9, 2021) and summarized
in a ‘Six Minute CEO’ video interview posted on the Company’s website Homepage at www.vrr.ca.
Again, I would like to thank our shareholders for their patience in getting to this point. We look forward
to providing further updates as the drill starts turning on the first-ever drill program into the heart of the
large epithermal gold-silver system at Amsel. To be clear, we are taking a two-stage approach to this first-
pass drilling, starting with the northern part of the target this winter, and then testing the larger and
stronger southern part of the anomaly located on the southern hillslope this summer.
With that, I would encourage readers to take a moment to walk through the figures below which illustrate
the setting, geology, scale, and intensity of the integrated target we are about to drill at Amsel.”
Illustrations
The integrated target at Amsel is new; it has never been drilled historically . Despite easy road access to
the property, as shown in Figure 1a , historic exploration focused on the hilltop where topography is
subdued and tree -cover sparse. However, the hilltop is covered by a stratigraphic cap unit of nearly
impermeable welded tuff that impeded hydrothermal fluids. This cap unit itself has a widespread and
pervasive quartz-adularia alteration with overprint of sericite and clay, and gold in soil up to 0.25 g/t, as
shown in Figure 1b. But our target is the core of the epithermal system below this mineralized and altered
cap, directly analogous to Round Mountain.
VR completed a state-of-the-art 3D-array DCIP survey in 2019. A new and large IP anomaly is delineated
on the southwestern flank of the hill, in the southwest quadrant of the 2 x 3 km potassium alteration zone,
as shown in Figure 2a . The anomaly comes to near- surface, below talus and weathered colluvium, and
extends through the entire 500 m vertical extent of the 3D inversion model, as shown in Figure 2b.
Examples of altered, mineralized vein breccia which occur on surface, directly above the IP anomaly are
shown in Figure 3a and Figure 3b. VR will target the IP anomaly below these rocks for quartz-adularia vein
stockwork with pyrite, gold and silver in the central root of the low -sulfidation epithermal system
responsible for the large alteration footprint at surface.
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C 1T2
Tel: 604-262-1104; [email protected]
TSX.V: VRR: www.vrr.ca
Drilling Plan
The objective of first- pass drilling at Amsel is to test the three parts of the main IP anomaly shown in
Figure 2a: North, South, and Grove. Having received the Plan of Operations permit in November, late in
the year, VR is now planning the first-pass drilling of Amsel in two phases:
Phase I: North IP anomaly. A short initial program of 4 – 6 holes is planned for February-March.
Schematic drill traces are shown in Figure 2b . T he t opography and road access of the north
anomaly are amenable for safe and effective drilling under winter conditions at elevation.
The north IP anomaly occurs directly below surface outcrops of tuffisite breccia with epithermal
textures including bladed quartz-carbonate (boiling), open-space, crustiform and banded quartz-
adularia veins with local pyrite, and a widespread overprint of sericite and clay . These outcrops
coincide with the strongest potassium alteration in the entire 2.2 km alteration footprint at Amsel,
and surrounding soil contains up to 0.25 g/t gold and 2.2 g/t silver ( Figure 1b and Figure 2a). As
such, the north IP anomaly is target ed as a structurally controlled precious metal bonanza zone
that typically occurs below the boiling level in epithermal systems (e.g. Buchanan, 1981).
Phase II: South IP anomaly and Grove anomaly. A longer program of 6 – 10 holes is planned for
earliest summer, July and August, when conditions are more favorable for safe and efficient
drilling on the eastern and southwestern flanks of the hilltop at Amsel where the Grove and the
South IP anomalies occur, respectively.
The south IP anomaly is the largest, the most deeply rooted, and has the highest chargeability
amplitude (Figure 2b). It is also coincident with the strongest soil geochemistry which in addition
to gold and silver includes the moly -lead-tungsten-thallium signature which is indicative of high
temperature proximal to the source, and magmatic driver of the overall epithermal fluid system.
Overall Target Definition at Amsel
VR is focused on the strong correlation between pyrite, adularia and gold-silver geochemistry in both rocks
and soil at Amsel. The objective is to discover pyrite -bearing quartz vein stockwork and breccia in the
central root and driver of a low-sulfidation epithermal system responsible for the l arge and intense
alteration footprint exposed at surface.
The 2 x 3 km potassium airborne radiometric anomaly which covers the entire hilltop at Amsel (Figure 1b)
correlates with a cap unit of more impermeable welded rhyolite tuff that impeded hydrothermal fluids
and is extensively altered to an adularia-quartz-pyrite assemblage with a clay and sericite overprint. This
correlation has been established via detailed mapping and grid -based rock sampling, soil sampling,
spectral mineral mapping, and petrography completed during the past four years.
The core of the epithermal system is in the southwest quadrant of the potassium airborne anomaly based
on mapping, stratigraphy, structure, grid -based rock and soil geochemistry, mineral chemistry and IP
geophysics completed by VR:
• The north and south bodies of the main IP anomaly shown on the plan map in Figure 2a occur on
either side of controlling faults of a horst structure , as shown in the cross -section in Figure 2b .
High crystallinity sericite mineral alteration occurs along the northwest-southeast structural trend
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C 1T2
Tel: 604-262-1104; [email protected]
TSX.V: VRR: www.vrr.ca
of the faults which define the horst structure, based on hyperspectral mapping of grid-based rock
samples from 135 stations over a 1.8 x 2.2 km area. S oil anomalies in gold -silver-arsenic occur
over both parts of the IP anomaly, based on a soil survey including 165 samples in a 100 m equant
station grid array covering the entire 2 x 3 km airborne potassium anomaly at Amsel. There is also
a high temperature signature including lead-moly-tungsten-thallium associated with the gold and
silver over the south IP anomaly.
Mineralized rocks at surface above the north and south IP anomaly are shown in Figure 3.
• The 700 x 900 m IP anomaly shown in Figure 2a is from a DIAS 3D-array DCIP survey completed in
2019. It includes 19 line-km over a 3.2 x 1.2 km grid area utilizing a 100 m station spacing for 150
receiver stations generating more than 95,000 dipole data points for the 3D inversion model. As
shown in Figure 2b , the IP anomaly at Amsel extends from surface through the 500 m vertical
extent of the 3D inversion model.
IP chargeability anomalies are used to map pyrite, and pyrite correlates with gold in surface
samples from Amsel itself and along the entire 20 km Big Ten m ineral trend, and at the Round
Mountain deposit located 45 km to the northwest.
This target is new . Gold was confirmed in three short RC drill holes completed within the cap unit of
altered, welded tuff during cursory exploration in the early 1980’s which was restricted to the hilltop at
Amsel where topography is subdued and tree -cover is sparse (Figure 1a). The new IP and multi-element
geochemical anomaly on the southwestern flank of the hill was never drilled; it is the result of the new
exploration technologies utilized by VR.
About the Big Ten Project
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.
The land package is the result of reconnaissance surface exploration by VR throughout 2018 and 2019, in
follow-up to a high resolution airborne magnetic and radio metric 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 kilometres long which transects the entire Big Ten volcanic caldera.
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
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C 1T2
Tel: 604-262-1104; [email protected]
TSX.V: VRR: www.vrr.ca
is roughly the same age as Big Ten, and in 20 20 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 cursory nature of exploration at Amsel in the early 1980’s, and the lack of any modern exploration
since provides VR with the opportunity to be the first group to use new exploration technologies on the
large-scale alteration system that were not available in the 1980’s, and similarly to apply the insights from
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 from 2016 to 2019.
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 4 3-101 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 Jus tin 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.
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.
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 Company entered into a one-year Agreement with PI Financial Corp. (“PI”), Vancouver, effective
February 14, 2022, for capital market support services for the purpose of maintaining an orderly market
in the shares of vrr.v, and in accordance with TSX Venture Exchange policies and applicable laws.
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: “VR is now planning the first-pass drilling of Amsel in two phases”, 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.
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 1a. Historic work in the 1970’s only scratched the surface of the large alteration zone in welded tuff which caps the hilltop at Amsel. VR plans to drill a
new IP anomaly on the unexplored western and southwestern flank of the hill in 2022 to test for the central root and source of the low -sulfidation epithermal
system responsible for the large alteration footprint exposed on surface at Amsel, with widespread gold in soil (see Figure 1b).
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 1b. There is gold throughout the large potassium airborne radiometric anomaly and coincident quart -adularia alteration which
covers the hilltop at Amsel. The soil contains up to 0.25 g/t gold. Shown is the array of permitted first -pass drill holes, located
exclusively on pre-existing roads, with access to the property from the west (left -center of photo; truck in photo in Figure 1a).
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 2a: Plan map with the DIAS 3D-IP anomalies in red, located in the southwest quadrant of the large potassium anomaly and coincident quartz-adularia
alteration covering the hilltop. Shown in Figure 2b is a profile of the main IP anomaly, never previously drilled, and targeted as the root of the gold -silver
epithermal system responsible for the alteration on surface. Black triangles are permitted drill holes. First -pass drilling by VR will be in two stages: drilling
this winter will focus on the north IP anomaly, and the second stage of drilling planned for this summer will test the south IP anomaly, and Grove.