VR receives positive drill permit Decision for its Amsel epithermal gold-silver property in Nevada, and completes geochronology to confirm Round Mountain age NR-21-21
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 receives positive drill permit Decision for its Amsel epithermal gold-silver property
in Nevada, and completes geochronology to confirm Round Mountain age
NR-21-21
November 9, 2021, Vancouver, B.C.: VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCQB: VRRCF), the
"Company", or “VR”, is pleased to provide an important update for its Amsel gold-silver project in Nevada:
The United States Forest Service (USFS) has concluded its review with a Positive Decision for the
Company’s drill permit application for its Amsel project . In follow-up to the Decision, the
Company will arrange to post an environmental bond, a standard condition for a final permit.
The Company has received final data from age date samples collected at Amsel in 2019. R esults
confirm the same geologic age for Amsel as the 20 Moz Round Mtn. gold deposit located 40 km
to the northwest.
The Company will now proceed with planning for a first-pass drill program at Amsel.
CEO Comment
From VR’s CEO Dr. Michael Gunning: “We have 4 years of exploration under our belt on our 20 km long
Big Ten mineral trend since first acquiring the Danbo property and its high grade gold veins in 2016, but it
is Amsel which has produced by far the most compelling target for a large -scale epithermal gold-silver
system. As outlined in the next section, I cannot convey strongly enough how much data are behind the
main target shown on the map and section in Figure 1 and Figure 2 of this news release.
In the second part of this news release, we summarize the correlation of Amsel to Round Mtn. , including
new age dates for Amsel. We have a high degree of confidence in how the integrated target in Figure 1
relates to the mineralized tuffisite shown in Photograph 1, and how that rock underscores the correlation
of Amsel to other epithermal gold-silver systems in the Walker Lane belt, and most importantly to Round
Mtn. located 40 km to the northeast, and with more than 100 years and 20 Moz of production to date.
With regard to the planned drilling, we know the logistics of this region well, we have worked with this
drill company before , and we will build upon our relationships with key geochemical and hyper spectral
service companies in Reno in order to optimize the quality of the data from this maiden program.
I would like to thank our shareholders for their patience in getting to this point . We look forward to
providing further updates as we get closer to executing the first-ever drill program into the heart of the
large alteration system and coincident IP and geochem anomaly at Amsel.”
Figure 1. Plan map of the Amsel property showing Permitted drill hole locations in relation to the targeted
700 x 900 m 3-D DC IP anomaly and sericite-bearing alteration within the 2 x 3 km K/Th
radiometric anomaly representing the quartz-adularia alteration cap to the epithermal system.
Figure 2. Cross-section view of the 3D inversion block model derived from the DIAS32 3D DCIP survey at
Amsel showing the large and integrated target extend ing from surface to depth through the
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C 1T2
Tel: 604-262-1104; [email protected]
TSX.V: VRR: www.vrr.ca
500 m vertical extent of the inversion model. Note gold content in cursory historic RC holes
collared on the hill top in the high resistivity alteration cap.
Photograph 1. The IP anomaly shown in Figures 1 and 2 is targeted as the root of the tuffisite breccia and
quartz vein stockwork which crops out on the hilltop where it has open space texture lined with
quartz, quartz-adularia-pyrite alteration, sericite overprint, and gold and silver mineralization.
Target Definition for 2021 Drill Program
VR is focused on the strong correlation between pyrite, adularia and silver-gold geochemistry in both rocks
and soil at Amsel. The objective of the upcoming drill program is to test both the northern and southern
parts of the large IP anomaly shown in Figures 1 and 2 for a pyrite-bearing quartz vein stockwork breccia
body which forms the central root to the large alteration cap exposed at surface on the hilltop.
VR plans to complete up to six priority drill holes amongst the numerous permitted locations show n in
Figure 1. Both the northern and southern parts of the large IP anomaly will be tested. There is pre-existing
road access to all of the priority drill collars.
The target is new. Gold was confirmed in three short RC drill holes completed 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. The new IP anomaly on the southwestern flank of the hill was never explored or drilled.
The 2 x 3 km potassium airborne radiometric anomaly which covers the entire hilltop at Amsel (Figure 1)
correlates with rhyolite tuff and tuffisite breccia altered to an adularia- quartz-pyrite assemblage with a
sericite overprint . The 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 shown
in Figure 1, based on geochemistry, mineral chemistry and IP geophysics completed by VR:
• The high crystallinity sericite mineral alteration shown i n Figure 1 correlates with soil anomalies
for gold, silver, arsenic, molybdenum and tungsten. The ser icite results are from grid -based
spectral mapping at 135 stations over a 1.8 x 2.2 km area and the multi-element soil survey utilized
an even larger grid of 165 samples in a 100 m equant station array.
• The 700 x 900 m IP anomaly in Figures 1 & 2 is from a DIAS32 3D DCIP survey completed in 2019,
which included 19 line-km covering 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.
VR is targeting the IP anomaly for pyrite because VR has established a correlation between pyrite
and gold in mineralized quartz veins along the entire 20 km length of the Big Ten mineral trend.
Geochronology and the Round Mtn. analogue for Amsel.
VR collected two samples from Amsel for age-dating during field work in the summer of 2019:
- Sample 9461: is crystal-lithic tuff with pervasive quartz-adularia-sericite alteration overprint, and;
- Sample 9340: an unaltered lithology of quartz-biotite-feldspar porphyry dyke. The dyke crosscuts
the tuff unit sampled for 9461.
Sample locations are shown in Figure 3. Age determinations from the University of Oregon using total
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C 1T2
Tel: 604-262-1104; [email protected]
TSX.V: VRR: www.vrr.ca
fusion argon-argon systematics on orthoclase and adularia mineral separates are 25.57 and 25.1 0 Ma,
respectively. The data support an evolving magmatic-hydrothermal system at Amsel where-by late-stage
dykes intrude and crosscut earlier pyroclastic tuff units, marking the cessation of mineralization.
The proximity of Amsel to the western margin of the Big Ten Caldera is evident by the mega-breccia unit
shown in the inset map in Figure 3; the unit includes mega-blocks of Paleozoic quartzite which forms the
basement to the caldera succession. The age date of 25.73 Ma shown in Figure 3 for the Big Ten caldera
is from Henry and John (GSA, 2013), and was obtained from the caldera- margin mega- breccia unit
immediately northeast of Amsel. It is closely followed by the 25.57 Ma date obtained by VR for the highly
altered and mineralized nearby Danbo Tuff pyroclastic unit on the Amsel property itself.
Figure 3 also provides a snapshot of ages for other Tertiary volcanic calderas in central Nevada, taken from
two papers published by the GSA (Geological Society of America) in 2013, one by Henry and John, and the
other by Best and colleagues. As shown in the schematic below, the Manhattan and Round Mtn. calderas
span the same geologic age as Amsel:
Summary schematic of comparative geochronology at the Round Mtn. and Amsel epithermal gold systems
and their respective Tertiary volcanic caldera hosts. RM ages are from SEG Special Publication 23, Chapter 18.
The Round Mountain gold deposit surpassed 20 million ounces of production in 2020 (Kinross Mining
Corporation). Artisanal mining began in 1906. Large-scale mining by modern pit and heap leach methods
commenced in 1977 and continues to this day.
The target at Amsel is a quartz vein stockwork system comparable to Round Mountain. The basis for the
correlation and potential analogue is multi-faceted:
1. Age. Occurrence in adjacent Tertiary volcanic calderas between 25-27 million years old;
2. Setting. Location of the epithermal quartz vein stockwork system at or near the margin of the
caldera, in proximity to contact with basement;
3. System. Gold and silver mineralization in a low-sulfidation, epithermal quartz vein system;
4. Trap. Mineralization hosted in unwelded tuff below a cap unit of welded tuff;
5. Adularia. Large-scale potassium alteration footprint of quartz-adularia, with a specific correlation
of gold-silver mineralization to increasing adularia in the core of the system;
6. Pyrite. Correlation of gold-silver mineralization to pyrite.
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 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 radiometric survey , and an airborne hyperspectral
survey used to map alteration minerals. I ntegrated results form t he 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
immediately to the southeast of the Round Mountain deposit which is hosted in a rhyolite volcanic center
(caldera) that is the same age as Big Ten, and in 20 20 surpassed 20 Moz of produced gold (Kinross Gold
Corporation). Adularia and pyrite alteration are key to gold and silver mineralization in the low-sulfidation
epithermal system at Big Ten and provide additional correlation to the Round Mountain deposit.
The cursory nature of exploration at Amsel in the early 1980’s, and the lack of any modern expl oration
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 t he
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
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C 1T2
Tel: 604-262-1104; [email protected]
TSX.V: VRR: www.vrr.ca
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.
About VR Resources
VR is an established j unior 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 statem ents in this release
include but are not limited to: “the Company will proceed with plans for a first-pass drill program at Amsel
this fall”, 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
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 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 inves tors 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 1. Plan map of the Amsel property with permitted drill pads, occurrences of sericite mineral alteration and the 3D
DCIP anomalies plotted on a potassium/thorium radiometric basemap from the 2018 airborne survey. The white line is the IP
profile in Figure 2. Also shown is geochemistry from a 2019 grab sample taken by VR in the alteration halo of the target .
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. A southwest-northeast section through the 3D inversion block model derived from the DIAS32 3D DCIP survey completed in 2019 showing
chargeability anomalies in pink and the 3D wireframe of the high-resistivity silica-adularia alteration cap draped on top and covering the hilltop at
Amsel. Three shallow RC holes completed in the alteration cap in 1981 all contained gold but missed the pyritic core of the epithermal quartz vein
stockwork system as modeled by the IP survey. Grid-based soil and rock geochemistry by VR define integrated anomalies in gold, silver, moly bdenum,
arsenic and tungsten which reinforce the IP as the core target in the system.