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VR Resources Limited ("VR" or the "Company", TSX.V: VRR, FSE: 5VR; OTCBB: VRRCF) is pleased to announce that the 3D-array DCIP geophysical survey is now complete over the Copper Queen target on the Company's Bonita porphyry copper-gold project in Nevada.
The survey was completed on time, on schedule, and on budget.
The geophysical proposal and agreement for the survey at Bonita was scoped last Fall, in follow-up to the Company's previous and extensive exploration on the property, including reconnaissance-level drilling. For Best Practice, the survey design was reviewed again, refined and finalized in-person with the team at Dias Geophysical, a leading provider of geophysical services, during the recent AME Mineral Exploration Conference held in Vancouver.
The target at Copper Queen has scale (see field photograph in Figure 1), and the DCIP survey is large, with a grid block of approximately 1.5 x 3.5 km covering the entire hilltop and surrounding lowlands.
The DIAS32 survey technology is state-of-the-art, and the resultant data are robust, as illustrated in Figure 2. The 3D resistivity model will contain in the order of 187,000 data points, and the IP model approximately 135,500 data points. Depth penetration for the 3-D modeling will be approximately 400 m.
Dr. Michael Gunning, Chief Executive Officer of the Company, commented: "We are excited to advance our exploration at Bonita, and pleased with the field execution by the DIAS team, on schedule and on budget.
The survey covers the entire hill at Copper Queen because it is interpreted to be an alteration lithocap, dominated by secondary albite and hematite alteration, and with copper veins at surface at the historic workings at the 1936 mine. The survey is designed to optimize the mapping of sulfide and alteration minerals at depth below the central part of the hill where the veins come to surface.
The goal of the survey is clear: to provide a precise exploration vector for follow-up drilling based on the surface mapping and exploration surveys completed to date by VR, and in particular, the porphyry-style copper-sulfide veining intersected in our initial, reconnaissance-style drilling at Copper Queen in 2017, for which there is a clear association in anomalous copper-gold geochemistry. Our target here is a buried, alkaline porphyry stock or breccia body with copper sulfide and gold that is central to the alteration, vein, dyke and breccia system that we have mapped and sampled on surface across the entire hilltop and surrounding lowlands.
We are excited to provide further details from new DCIP survey at Copper Queen when the data processing, inversions and 3D models become available."
Figure 1. Annotated field photo of the hill at Copper Queen covered by the 3D-array, DCIP survey. The hill is interpreted to be an alteration lithocap. View is to the northwest from the main access road. The objective is to use the survey to map sub-surface sulfide density and vector towards a potential alkaline copper-gold porphyry stock beneath the hill.
Figure 2. Raw data shown in a preliminary point-cloud plot for the 3D-array DCIP geophysical survey now complete at Copper Queen. The data are robust: the final IP model for the 1.5 x 3.5 km block will have approximately 135,500 data points, with 187,000 data points generated for the resistivity model.
TECHNICAL INFORMATION
Technical information disclosed by the Company has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Technical information contained in this document, and on the Company's website, has been reviewed and approved on behalf of the Company by the President & CEO, Dr. Michael Gunning, PhD, P.Geo., a non-independent Qualified Person.
ABOUT VR Resources Ltd.
VR is an established junior exploration company based in Vancouver. VR evaluates, explores and advances opportunities in copper, gold and critical metals in Nevada, USA, and Ontario, Canada. VR applies modern exploration technologies, in-house experience and expertise in greenfields exploration to large-footprint mineral systems in underexplored areas/districts. The foundation of VR is the proven track record of its Board in early-stage exploration, discovery and M&A. VR owns its projects outright and evaluates new opportunities on an ongoing basis, whether by staking or acquisition. The reader is referred to the Company's website at www.vrr.ca for current corporate information on the Company, and project overviews illustrated with maps and photos.
ON BEHALF OF THE BOARD OF DIRECTORS
Dr. Michael H. Gunning
President & CEO
For general information please use the following:
Website: www.vrr.ca
Email: info@vrr.ca
Phone: 778-731-9292
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This news release contains statements that constitute "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this document include statements concerning the current geophysical survey at the Company's Bonita property, and all other statements that are not statements of historical fact.
Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature, forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward- looking statements. Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with: general economic conditions; adverse industry events; future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada; the ability of the Company to implement its business strategies; competition; and other assumptions, risks and uncertainties.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
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.sedarplus.ca and readers are urged to review them.
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Figures accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/b8112996-81d8-4c06-8a92-74aa2b00f6c0
https://www.globenewswire.com/NewsRoom/AttachmentNg/275be3f0-f09e-4771-b15b-2bc0bd2357c9
