VR Resources Ltd. (CVE:VRR) (FRA:5VR) (OTCBB:VRRCF) revealed that it has received “convincing” final data for the ground-based gravity survey carried out in March over the carbonatite complex on its Hecla-Kilmer property, in Northern Ontario.
“The result is obvious: the intervals of copper, gold and critical metal mineralization intersected last fall by VR are located on the eastern margin of a large and high amplitude gravity anomaly,” said the company.
VR Resources said it is now planning for Phase II, follow-up drilling in September to test the new anomaly for the heart of the “REE-bearing, IOCG hydrothermal breccia system discovered at Hecla-Kilmer in 2020.”
In a statement, VR Resources CEO Dr Michael Gunning said: “We simply could not have asked for a better execution of the survey in the field by Geophysics GPR International, nor for more definitive results in the final data.”
“It is convincing to see such a large number of field station data points within the anomaly, together with the robust nature of the anomaly itself, including its large size, sharp boundaries and high contrast to surrounding host rock. But it is the location of the anomaly that is perhaps even more compelling.”
Gunning said the company believes that the gravity anomaly is the center of the mineral system that produced the rare earth elements and critical metal mineralization.
“Further, it is the source of the copper and gold retrieved from the pile of core rubble from the camp site of the cursory, historic drill program completed in 1970, before the discovery of Olympic Dam, and before the development of the IOCG mineral deposit model and exploration target for Proterozoic copper-gold-REE hydrothermal breccia systems. We believe we have the very heart of that target-type in front of us now at Hecla-Kilmer, and we plan to test it in September,” added Gunning.
The Hecla-Kilmer property is large and consists of 224 mineral claims in one contiguous block approximately 6 x 7 kilometers in size and covering 4,617 hectares.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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