VR Resources Ltd (TSX-V:VRR, OTCQB:VRRCF) has reported the second batch of geochemical data for two drill holes completed last fall at the south rim of its Hecla-Kilmer complex in Ontario.
Drill hole HK22-020 intersected 212 meters of continuous mineralization at 0.7% total rare earth oxides (TREO) with 17% PMREO, with one-meter samples up to 2.7% TREO —one with 28.5% PMREO and another including 48 meters at 1% TREO with 19% PMREO at the end of the hole and open to depth.
The 212-meter intersection in hole HK22-020 is on structure, along strike to the southeast of the 25.5 meters at 1.131% TREO with 18% PMREO intersected in hole HK22-015.
READ: VR Resources finds promising rare earth element grades in five drill holes at its Hecla-Kilmer project in Ontario
PMREO stands for the sum of the high-value rare earth oxides Pr2O3 + Nd203 + Tb2O3 + Dy2O3 used in permanent magnets for wind turbines and electric vehicles. PMREO percentage is equal to the PMREO sum divided by TREO.
“The critical metal discovery at Hecla-Kilmer emphasizes the scale of the hydrothermal system evident in drill core over an area of 2 x 3 kilometers,” CEO Michael Gunning said in a statement.
“[As well as] the number of occurrences of over 1% TREO mineralization (at least four discovered to date); the higher-than-normal component of the high-value PMREOs (from 16–28% of TREO) and the location, both with regard to mineralization coming to bedrock surface at the base of till and the location of Hecla-Kilmer, just 23 kilometers from provincial infrastructure,” he added.
The south rim is now the fourth area of mineralization at Hecla-Kilmer with grades in individual veins and breccia zones with 1–3 % TREO and containing 16–28 % PMREO.
Upcoming drill program
Looking ahead, VR Resources has commenced a study of drill core samples from holes 13 and 15 using a scanning electron microprobe to determine which minerals host the high-value magnet rare earth elements. Results are expected this quarter, the company said.
Additionally, the company said it has initiated the scoping for metallurgy and mineral extraction studies using a bulk sample obtained from core from a dedicated drill hole with a representative, broad intersection of REE mineralization starting at surface. This work is planned for the first half of 2023.
Follow-up drilling is planned for the spring of 2023. That will focus on supporting the advanced-stage studies at Pike zone and completing additional exploration drill holes on the other three areas of mineralization discovered to date.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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