VR receives drill permit and commences 3D array DCIP geophysical survey at its Reveille silver-copper property in Nevada, in lead up to drilling. NR-21-04
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
VR receives drill permit and commences 3D array DCIP geophysical survey at its
Reveille silver-copper property in Nevada, in lead up to drilling.
NR-21-04
February 09, 2021, Vancouver, B.C.: VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCBB: VRRCF), the "Company,” or
“VR,” is pleased to announce:
that it has received its drill permit for its Reveille silver-copper property in Nevada;
a state-of-the-art 3D array DCIP geophysical survey is set to commence at the end of this week, and;
Phase 1 of a two-stage RC drill program is set to commence in two to three weeks time.
Figure 1 shows the locations of the permitted drill holes and the 3D DCIP survey planned along the western flank of
the Reveille range. Property-scale vectors towards the area shown in Figure 1 are derived from structural mapping
and statistical analyses of single element and element ratio data from rock and soil geochemistry completed in 2020.
The specific drill hole locations are based on recently completed 3D inversion models of magnetic and EM data.
The IP should be an effective mapping tool in the valley flanking the range because the targets in the survey area are
near-surface based on their EM and magnetic attributes. The RC drilling should be both efficient and cost-effective
because of the gentle topography in the range front valley and the direct road access to the targets.
The IP survey will map both alteration and mineralization in the sub-surface on the western flank of the range:
Photo 1. Resistivity will be useful to map alteration. This photo is of an outcrop in the valley west of the range and
located in the northern part of the alteration ring around the core of the magnetic anomaly in Figure 1.
The outcrop of quartz latite porphyry has intense sericite alteration (potassium), with disseminated pyrite
boxworks, stockworks of quartz veinlets with limonite after pyrite, and limonite-cemented breccia locally.
Photo 2. Chargeability will be useful in mapping disseminated silver-rich sulfosalt minerals such as freibergite within
dolostone completely replaced by silica-rich hydrothermal breccia at Lost City located on the western flank
of the Reveille range and containing 2,660 g/t silver and 1.5 % copper.
State-of-the-art 3D array DCIP technology of Dias Geophysical Ltd. will be utilized for this survey based on proven
results from the Company’s nearby Amsel gold property. The final 3D inversion block models are anticipated in April,
and will be used to pl an the second of the two- stage RC drill program , in conjunction with the geochemistry and
hyperspectral mineral scanning by TerraCore LLC. (Photo 2) from the Phase I drill holes planned for later this month.
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 IP crew is on its way to the
property, and the drill schedule is set for later this month. Our goal with this strategy is 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.
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
Our exploration at Reveille has been more or less continuous since last June. The targets on Figure 1 are both highly
integrated across an array of data sets, and importantly they are never -before drilled. While the high silver grades
of the historic workings in the hills to the east have attracted all the attention during the past 140 years of prospecting
the region, we understand that mineralization to be distal in nature based on our geochemical data, and our focus
here is to identify and test targets in the covered valley to the west as the potential source of that mineralization.
Scale is important, in regards to both the aerial extent of the showings across the property, and the structures which
accommodated the mineralizing system. To that end, I encourage you to appreciate the potential importance of the
regional-scale range fault and bounding fault for the Tertiary caldera at Reveille that is shown in Figure 1. This is a
deeply seated and long -lived and reactivated structure with the “umph” to host a large and high temperature fluid
system capable of sourcing and driving the array of high- grade showings seen in the hills at Reveille. It is perhaps
no coincidence that the new targets we see in our data for the heart of that fluid system have appeared in proximity
to this structure, and I am compelled by the fact that our drill will be more or less on top of this structure next month.
I would like to thank our shareholders for their ongoing support, an d we look forward to providing further updates
as our exploration advances through February.”
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 drill core samples collected 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. Justin Daley, P.Geo., Principal 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.
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
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, 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 “ … a state-of-the-art 3D
array DCIP geophysical is set to commence at the end of this week.”, “… IP will be an effective mapping tool, and RC
drilling will provide a cost-effective geochemical survey down to 300 metres or so.”, 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 nor 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.
Readers 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
Figure 1. Location of drill holes and a 3D 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. Assays
shown at showings 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.
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. Outcrop in the valley floor on the western flank of the Reveille range. The iron-stained outcrop of quartz latite porphyry shows supergene
leaching of sulfide rich sericite/illite alteration (potassium), stockworks of quartz veinlets with limonite after pyrite, and areas of local limonite
cemented breccia. The alteration occurs in the northern part of the alteration halo to the core of the magnetic anomaly 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
Photo 2. This silica-replaced dolostone from the Lost City showing located on the western flank of the Reveille range contains black, coarse-grained sulfide
minerals such as freibergite that are rich in silver; this sample contains 2,660 g/t silver and 1.5 % copper. Hyperspectral scanning by TerraCore LLC confirms
silica replacement with long-wave infrared (LWIR) and reveals widespread high temperature illite clay with short-wave infrared (SWIR). This technology will be
utilized on the upcoming RC drill program because these alteration styles are proven vectors to mineralization across the Reveille mineral system and property.