- Attractive gold and base metals portfolio in Nevada
- Run by experienced mining industry professionals with track record of deals
- Continues to acquire new ground in Nevada
- 100% ownership of district-scale plays
What does VR Resources do?
VR Resources Ltd (CVE:VRR) specialises in exploration the development of mining assets. The company is the continuation of four years of active exploration undertaken in Nevada, USA, by its founders, a specialist team of mining financiers and explorers.
Between the two of them Dr Michael Gunning and Darin Wagner have accounted for deals in the mining sector worth in excess of US$1bn.
The goal of VR Resources is to leverage its experience and expertise in grassroots exploration towards early-stage discovery in order to capture the steepest part of the value creation curve in mining for its shareholders.
The focus of VR is copper and gold exploration in Nevada. The company is focused on districts underexplored during the past 50 years. The company applies current mineral deposit models and new exploration technologies to properties with large copper-gold footprints. Mineral exploration assets are owned 100%, and held in a wholly-owned, Nevada-registered subsidiary.
What does VR Resources own?
VR Resources has four main projects: Bonita, Junction, New Boston and Big Ten.
VR acquired the Junction property in August 2017. Junction has been expanded by additional staking by the company several times since, following the receipt of positive exploration data.
The Bonita property encompasses a district of historic copper, gold and iron workings. The showings are unified by a single, district-scale hydrothermal system with a large alteration footprint. Copper sulphide and gold mineralization has been sampled by VR over an area of approximately four-by-five kilometres. In February 2019, VR Resources added additional ground to its Bonita holdings.
New Boston was acquired in August 2017. It’s situated on the south-eastern part of the Walker Lane belt in west-central Nevada. It is located between the past-producing Yerington porphyry copper camp approximately 100 kilometres to the northwest, and the Hall molybdenum-copper deposit located approximately 100 kilometres to the southeast.
The Big Ten project is located along the northern margin of the of the Walker Lane belt in west-central Nevada. Its geological setting is analogous to the Round Mountain gold mine located approximately 50 kilometres to the north, and to the past producing Paradise Peak gold deposit located 110 kilometres to the northwest.
- Ongoing exploration work across the portfolio, including drilling
- Exploration companies periodically raise new funds to support further work
- Fluctuations in metals prices will affect sentiment
- Larger company may become interested in acquiring specific assets
Exploration portfolio offers “unusual upside", says chief executive Dr Michael Gunning
“Four years of exploration at Bonita have unearthed a middle Jurassic porphyry copper-gold system that unifies showings of copper and gold-bearing iron oxide breccia across a hydrothermal alteration footprint nearly 5x7 km’s in size,” said chief executive Dr Michael Gunning.
“The work this summer at Rattlesnake added another target to the system. The past-producing Yerington camp to the south demonstrates the endowment of copper systems of this age in Nevada, and the company continues to believe in the unusual upside of owning 100% of a district-scale property like Bonita. We will look at all strategic options to continue to advance the property in 2019, to complete the first pass drilling of the first two targets at Copper Queen and Hemco, and fully test the remaining four. We look forward to providing updates as plans unfold.”