VR Resources Extends H-K Critical Metal/REE Discovery to Over 1,000 Metres

VR Resources discovers over 1,000 metres of extension at H-K critical metal/REE. The company provided new geochemical data for five holes completed in October at its H-K critical Metals/REE project (Hecla-Kilmer project) in northern Ontario.

In addition to the 49-meter intersection of rare earth oxides ("REO") and key metals that began at surface in Hole 2 (NR-21-08; March 11, 2021), as well as the 299-meter intersection in Hole 5 and NR-21-22 reported last month, there are two new, extensive intersections of rare earth metal mineralization to report from the recently completed drilling campaign at H-K, which extend the system to more than 1,000 meters in length.

The analytical detection limit for gold in geochemical data from H-K is 5 ppb. There is now evidence that hydrothermal gold is above background in six of the nine holes assayed to date at Hecla Kilmer. Significant gold occurs in two drill holes.

The H-K gold-bearing fluids are always associated with the same generally altered chalcocite orthoclase porphyry intrusive unit associated with REE + Nb mineralization. Both mineralization styles appear to be controlled by large structures.

Dr. Michael Gunning, CEO of VR Resources, said, "The stage is now definitely set for the most compelling drilling program planned for this winter at H-K critical metal/REE. The discovery of these extensive intersections of key metals and locally high gold when we began drilling in the H-K area last year clearly demonstrates the potential of a large ultra-high temperature hydrothermal breccia system."

"All of our geochemical data is now on hand. We continue to process the XRF data, including a proprietary artificial intelligence analysis that will combine geochemical data with mineral and density data from the XRF, as well as magnetic, structural, lithological and alteration data from the logs, to enhance our drilling objectives for the next phase."

The significance of the high concentration of gold reported here lies not in the grade but in the lateral and vertical extent of its presence in a large hydrothermal breccia system of H-K critical metal/REE. The first 9 holes completed by VR Resources provide new data confirming this copper and gold potential and, more importantly, providing modern geological data to better understand and explore this mode of mineralization across the complex.

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