VR Resources Ltd (CVE:VRR) (OTCQB:VRRCF) (FRA:5VR) has said that second phase drilling is now underway at its Reveille silver-copper and gold project in Nevada, USA and that it believes the potential source of the mineral system there has been identified at the now confirmed anomaly at Kawich.
Phase 2 drilling, comprising four holes, is expected to take two to three weeks, with geochemical results anticipated by the end of the summer. Two holes are aimed at testing the breccia pipe at G1 intersected in over 100 metres (m) of drill core in the final hole of the Phase I program, and two holes are planned to test the core of the new IP anomaly at Kawich, said VR.
READ: VR Resources extends drilling after confirming a breccia pipe at its G1 gold target at Reveille in Nevada
In addition, the expansion of a 3D ground-based geophysical survey is now complete and the final data received, with the "large and high amplitude" IP anomaly at Kawich now confirmed.
"The Kawich IP anomaly provides a specific target for a large sulfide concentration formed at the potential source of the overall polymetallic mineral system at Reveille. This target has never been explored or drilled during the 140 years of historic prospecting in the Reveille range to the east," the company said.
VR Resources CEO Dr Michael Gunning noted that the company's goal had been to apply modern mineral deposit models and new exploration technologies to look for the center of the overall CRD/porphyry mineral system at Reveille, and the firm believes the large and data-robust IP anomaly is "exactly that".
"We look forward to providing further updates as our drilling advances and new geochemical data are received through the summer," he added in a statement.
The Reveille project lies around 90 kilometres east of Tonopah and consists of 93 mineral claims in one contiguous block covering 1,586 acres (642 hectares).
Contact the author at giles@proactiveinvestors.com