VR Resources Ltd (TSX-V:VRR, OTCQB:VRRCF) revealed promising results from the recently completed airborne gradient magnetic survey and ground-based 3D array DCIP survey on its New Boston property, which is within the Walker Lane mineral belt in Nevada.
The New Boston property consists of 77 claims in one contiguous block covering 583 hectares (1,441 acres). It covers the entire extent of the known copper-moly-silver porphyry-skarn mineral system exposed on surface between Blue Ribbon and East Zone, and its inferred down-dip potential to the north.
“Technology matters,” said VR Resources CEO Dr Michael Gunning. “Surface work and reconnaissance drilling at New Boston by Conoco, Gulf and Bear Creek in the 1960s and 70s established the sheer scale of the porphyry-skarn system across a strike length of 4 kilometers (km) of sheeted and stockwork veins exposed on surface, and significant grades and thickness of moly’ mineralization in numerous drill holes.”
But the sector collapsed in 1981, leaving unfinished work identifying and drilling a mineralized porphyry intrusion as the source for the sheeted and stockwork veins exposed at surface, he added.
“Some 40 years later, new multi-sensor gradient magnetics and 3D array DCIP geophysical technologies that were not available to Conoco at the time now provide VR with a clear path forward to complete the story and undertake the drilling that was actually proposed by Conoco to follow up on the garnet-magnetite-biotite stockwork veins observed in drill holes NB-1 and NB-4 on either end of the system,” noted Dr Gunning.
He said Conoco developed “a 3.14 BT exploration model” to encompass the mineralized sheeted veins at New Boston, exclusive of a porphyry stock that was inferred. but not identified at the time.
“By using the results from new high-tech geophysical surveys, we believe that we can build on that model and confirm the presence of a mineralized porphyry centre (s) as the source for the system of sheeted veins at surface,” said Dr Gunning.
“Our goal is to drill test the two main IP and conductivity targets…As shown in the satellite image, the proximity of New Boston to state HWY 95 provides tremendous logistical advantages for drilling and advanced-stage exploration.”
The Vancouver-based junior exploration company highlighted an IP anomaly 950 meters (m) long, from surface to 500m depth and open, which outlines the target for a mineralized porphyry intrusion below the Jeep Mine in the western part of the system of mineralized sheeted veins exposed on surface over a 2,100m strike length.
In addition, there’s a high amplitude conductivity anomaly 900m long, from surface to 500m depth and open, which outlines the target for a high temperature, mineralized porphyry-skarn center at East Zone in the eastern part of the system of sheeted veins at New Boston.
According to the integrated exploration target map, the conductivity anomaly at East Zone is the inferred porphyry source of the quartz veins with copper exposed on surface at the East Zone and CCT Zone.
Dr Gunning emphasized “the clarity, strength and scale of the two targets now apparent at New Boston.”
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive