VR Resources Ltd (TSX-V:VRR, OTCQB:VRRCF) announced that drilling at its Northway project in Ontario has intersected kimberlite diatreme breccia.
The breccia occurred in hole NW23-002 located in the center of the large magnetic anomaly roughly 1.2 kilometers in diameter. Notably, NW23-002 is 450 meters northwest of hole 001 located on the southern edge of the anomaly, thus confirming the presence of a very large kimberlite diatreme breccia pipe complex at Northway, the company said.
The top of the kimberlite breccia at Northway is preserved in both holes at the same vertical depth of 240 m, at the base of the sedimentary cover of early Devonian sandstone and overlying limestone, the company added.
“Hole 2 just showed us that the Northway anomaly is real,” CEO Michael Gunning said in a statement. “It’s game on now for the potential of this large kimberlite complex, and the field of targets we have staked.”
He continued, “Intersecting kimberlite breccia in hole 002 below the same cover of limestone and sandstone as in hole 001 located some 450 m to the southeast confirms the discovery of an unusually large kimberlite diatreme breccia pipe complex at Northway. ... We now have a successful test of the center of the large magnetic anomaly at Northway, and we have more than sufficient drill core to submit for a preliminary micro-diamond evaluation and compositional characterization of the various kimberlite breccia facies despite the termination of the hole early.”
Drill core from hole 002 will be analyzed, results of which are expected by the end of the summer, the company said.
“We intend to stick to the discipline of the overall framework of an integrated program and budget for Northway and Hecla-Kilmer planned for this month,” Gunning said. “As we process the Northway core, the drill is on its way to Hecla-Kilmer, where we have two specific goals for this program: Test two new areas for REE critical metal mineralization ... [and] obtain dedicated drill core for a metallurgy and beneficiation study at SGS Lakefield in Ontario.”
More details about the Northway project can be found here.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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