VR Resources Ltd (TSX-V:VRR, OTCQB:VRRCF) has announced that the diatreme breccia reported last fall at its Northway property in northern Ontario is a kimberlite breccia pipe.
The junior exploration company also said as a result of this discovery it has staked 20 new Tier 1 and Tier 2 targets in the region.
“Northway is not simply the discovery of yet another Jurassic kimberlite in eastern Canada because observations in drill core indicate it is mid-Paleozoic in age,” VR Resources CEO Michael Gunning said in a statement.
READ: VR Resources confirms significant REE mineralogy and metallurgy details at Hecla-Kilmer project in Ontario with scanning electron microprobe
“As such, the Northway discovery confirms a mid-Paleozoic kimberlite event and potential new kimberlite field in Canada’s northern Superior Craton,” Gunning added.
VR noted that Northway covers a 1.2-kilometre magnetic anomaly located along the same structural setting as its Hecla-Kilmer (H-K) property, the Kapuskasing Structural Zone (KSZ).
The company added that it plans to drill the center of the 1,200-metre anomaly at Northway in April.
VR Resources is an established junior exploration company focused on greenfields opportunities in critical metals, copper and gold. The company seeks to create value by recognizing the shift in global resource demand related to the emergence of new, sustainable technologies in the transitioning green economy.
Contact Sean at sean@proactiveinvestors.com