VR receives new over-limit geochemical data from Hole HK22-013 and increases PMREO content to 21.1% of TREO at Hecla-Kilmer in Northern Ontario NR-22-18
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C1T2
Tel: 778-731-9292; [email protected]
TSX.V: vrr www.vrr.ca
VR receives new over-limit geochemical data from Hole HK22-013 and increases
PMREO content to 21.1% of TREO at Hecla-Kilmer in Northern Ontario
NR-22-18
November 29 , 2022, Vancouver, B.C.: VR Resources Ltd. (TSX.V: VRR, FSE: 5VR ; OTCQB: VRRCF ), the
"Company", or “ VR”, is pleased to report receipt of additional geochemical data which increases the
PMREO(3) content of the high -grade rare earth element mineralization intersected in HK22 -013 at its
Hecla-Kilmer critical metal project (“H-K”) located in Northern Ontario.
The intersection for Hole 13, originally reported on July 21st, 2022 in NR-22-08, is now reported as:
243 m @ 1.02 % TREO(1), of which 21% are PMREO, within 287 m @ 0.90 % TREO, starting at
surface and continuous to end of hole, and including: **
o 66.61 m at 1.57 % TREO, starting at 155 m depth and including:
39 m @ 2.04 % TREO starting at 155 m.
The 66.6 m @ 1.57% TREO is made up of 20.7% Magnet REO (Nd, Pr, Dy, Tb);
The 39 m interval @ 2.04 % TREO contains 15.71% P2O5.
Hole HK22-13 ended in high grade mineralization: 15 m @ 2.22% TREO with 21.3% PMREO. The high grade
mineralization is open beyond the end of the hole at 330m. As such, the hole was extended in the recent
drill program, and Hole HK22-013ext was completed to 504 m (see Figure 1). Data are pending.
Photo 1. Example of high-grade REE mineralization in drill core in Hole 13.
Photo 2. Core photo and QEMSCAN image showing the REE mineralogy of the mineralization immediately
below and adjacent to the drill collar for Hole 13.
Explanation
VR utilizes analysis by lithium-borate fusion at ALS Laboratories in order to optimize the detection of the
full suite of rare earth elements for its drill core samples from Hecla- Kilmer, in addition to standard ICP -
MS and ICP -AES analyses for base metals and trace elements, and gold determination by atomic
absorption assay. If any sample exceeds 10,000 ppm Ce (cerium) or 1 ,000 ppm Pr (praseodymium), it is
re-run using a higher instrument calibration in order to optimize the accuracy of data from high -grade
mineralization. A total of 34 samples from Hole 22- 13 exceeded the over -limit, and so the entire 66.61
metre intersection was re-analysed with the higher instrument calibration resulting in the results reported
today.
Figure 1 shows the strong correlation among all the individual permanent magnet rare earth elements
within the TREO mineralization at Hecla- Kilmer. Further, the correlation between TREO and P2O5 in the
data is exceptionally high, which is consistent with the phosphate minerals monazite and apatite identified
by QEMSCAN as key mineral hosts to REE’s at Hecla-Kilmer, as shown in Photo 2. This mineralogy is aligned
with the only REE extraction facility in Canada, which just opened in Saskatoon and is focused on monazite.
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C1T2
Tel: 778-731-9292; [email protected]
TSX.V: vrr www.vrr.ca
Comment on Significance
The new data reported for Hole 13 demonstrate a 2% overall increase in PMREO at Hecla-Kilmer, driven
largely by previous underreporting of praseodymium, one of the four high-demand rare earth oxides used
in permanent magnets (the “PMREO”).
PMREO are more important in world markets because they are essential in the manufacturing of motors
for electric vehicles and wind energy turbines, critical components in the emerging green economy. The
high price of the four PMREOs partially reflects the constraints on demand because of the global
monopoly controlled by China.
These new data only re-emphasize that the polymetallic mineralization at Hecla-Kilmer competes with the
world’s best of breed REE deposits. The proportion of TREO as PMREO, particularly praseodymium,
neodymium, and terbium, is higher at Hecla-Kilmer than at existing carbonatite REE mines of Bayan Obo
(largest) and Mountain Pass (highest grade).
Next Steps
The discovery has progressed continuously since mineralization was first intersected at surface in Hole 4
during the first recce’ program in October, 2020. Since then, VR has expanded geochemical techniques to
include analysis by lithium-borate fusion to optimize detection of all REEs and utilized QEMSCAN thin
section analysis to characterize REE mineralogy. Going forward:
1. VR has selected further high grade REE samples from across the property for scanning electron
microprobe (SEM) research to determine exactly which minerals host the high value magnet rare
earth elements. Initial results are expected by year-end, and work will be ongoing through 2023;
2. VR has initiated the scoping for a metallurgical test / extraction study using a bulk sample of core
from a drill hole with a broad intersection of mineralization starting at surface. This work is
planned for the first half of 2023, utilizing the world -class REE expertise at SGS Laboratories in
Ontario.
The strength of the discovery at Hecla-Kilmer is scale, that is, the sheer lateral breadth of the hydrothermal
breccia system and high temperature potassic alteration, and the vertical extent of REE mineralization
intersected in drill core and starting from surface. The plan map in Figure 2 provides the illustration: there
are now intersections with > 1% TREO in 11 of the first 17 drill holes completed on the project, and they
span some 2.5 km across the complex.
The path towards advancing this discovery is strengthened by its location, just 23 km to the west of the
provincial hydroelectric dam at Otter Rapids, with supporting and active Onta rio Northern railroad and
Highway 634 infrastructure.
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 RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C1T2
Tel: 778-731-9292; [email protected]
TSX.V: vrr www.vrr.ca
VR submits sawn drill core samples for geochemical assay to the ALS Global Ltd. (“ALS”) laboratory
facilities in Timmins, Ontario, with final geochemical analytical work done at the ALS laboratory located in
North Vancouver, BC., including lithium borate fusion, ICP-MS and ICP-AES analyses for base metals, trace
elements and full-suite REE analysis, and gold determination by atomic absorption on fire assay. Analytical
results are subject to industry-standard and NI 43-101 compliant QAQC sample procedures, including the
systematic insertion of both sample duplicates and geochemical standards done both externally on the
project site by the Company and internally at the laboratory by ALS, 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., VP Exploration and a non -
independent Qualified Person oversees all aspects of the Company’s mineral exploration projects, and 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.
**
(1) TREO is the summation of Ce2O3 + La2O3 + Pr2O3 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb2O3
+ Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3.
(2) PMREO is the sum of high value rare earth oxides used in permanent magnet motors and turbines
used in electric vehicles and wind turbines (Pr2O3 + Nd203 + Tb2O3 + Dy2O3). The % Magnet REO
column is this PMREO sum divided by TREO, and expressed as a percent.
About the Hecla-Kilmer Property
The Hecla-Kilmer complex is located 23 km northwest of the Ontario hydro-electric facility at Otter Rapids,
the Ontario Northland Railway, and the northern terminus of Highway 634 which links the region to the
towns of Cochrane and Kapuskasing to the south, itself located on the northern Trans-Canada Highway.
The H-K property is large. It consists of 224 mineral claims in one contiguous block approximately 6 x 7
km in size and covering 4,617 hectares. The property is owned 100% by VR. There are no underlying,
annual lease payments on the property, nor are there any joint venture or back-in interests. Hecla-Kilmer
is located on provincial crown land, with mineral rights administered by the Ontario Ministry of Northern
Development, Mines, Natural Resources and Forestry (“MNDM”). There are no annual payments, but the
MNDM requires certain annual exploration expenditures and reporting. The property falls within the
traditional territories of the Moose Cree and Taykwa Tagamou First Nations.
About VR Resources
VR is an established junior explo ration company focused on greenfields opportunities in critical metals,
copper and gold (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 foundation of V R is the diverse
experience and proven track record of its Board in early -stage exploration, discovery and M&A. The
Company is well- financed for its exploration strategies and corporate obligations, and focuses on
underexplored, large-footprint mineral sys tems in the western United States and Canada. 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, V6C1T2
Tel: 778-731-9292; [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 those which, by t heir nature, refer to future events. Forward looking statements in this
release include those related to the companies upcoming plans, such as “we anticipate receiving data
through the upcoming months of December and January ”, and “VR evaluates new opport unities 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
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 fo rward-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 may be accessed via
www.sedar.com and 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, V6C1T2
Tel: 778-731-9292; [email protected]
TSX.V: vrr www.vrr.ca
Photo 1. Photograph of drill core with 2.2% TREO and 19% P205 at 219m in hole HK22-013. Rare earth
element mineralization is amongst a myriad of carbonatite dykes (phoscorite and sovite) which themselves are
cut by fluorite-rich carbonate veins. Protolith alkaline igneous rocks are completely replaced by a potassic
alteration assemblage dominated by hydrothermal biotite.
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C1T2
Tel: 778-731-9292; [email protected]
TSX.V: vrr www.vrr.ca
Photo 2. Drill core photo and QEMSCAN image from the top of drill hole HK20-004 (a proxy for the top of Hole
13 drilled from the same collar) showing altered magnetite needles with reaction rims of py rite–pyrrhotite–
iron carbonate and bastnaesite (LREE) –pyrochlore ( Na,Ca)2Nb2O6(OH,F) in a matrix of apatite with calcite
inclusions containing monazite ( (Ce,La,Nd,Th)PO4), quartz and potassium feldspar. The magnetite -quartz-
potassium feldspar assemblage is a high temperature potassic alteration facies.
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C1T2
Tel: 778-731-9292; [email protected]
TSX.V: vrr www.vrr.ca
Figure 1. Graphic log of REE intersection in drill hole HK22-013 and the hole extension completed in
October 2022 to a depth of 504m. High value permanent magnet REO elements Nd, Pr, Tb, and Dy
are shown as a cumulative proportion of total REO and average 21%, with neodymium making up
the bulk.
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C1T2
Tel: 778-731-9292; [email protected]
TSX.V: vrr www.vrr.ca
Figure 2. Key critical metal intersections from the first 17 drill holes completed at Hecla -Kilmer, and locations
of the five new holes completed in October, 2022, plotted on a contoured RTP magnetic base map with
superimposed 3D isoshells from the MVI inversion.