VR Resources Ltd (TSX-V:VRR, OTCQB:VRRCF) said it has uncovered a new rare earths system in Ontario on its Hecla-Kilmer project.
The firm revealed new results from the first of five holes drilled, including a 299-metre intersection which it said confirms the discovery of a “new and large-footprint” rare earths and critical metals system at the project.
Total rare earth oxides (TREO) average 0.47 % TREO over 299.53 metres starting near surface at 52 metres hole depth, including TREO up to 1.70 % over 3 metres (m) within 28 m of 0.80% TREO.
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Results also showed middle and heavy rare earth oxides of up to 0.18% over three metres, and concentrations of the critical metal niobium of 0.20%, including: 55m at 0.23% and 25.4 ppm Tantalum pentoxide (Ta2O5) from 183 m, and 3 m at 0.31% niobium and 33.4 ppm Ta2O5 from 275m.
The new data confirms the discovery of rare earth elements and critical metals, and a strengthening of the mineral system within the main gravity anomaly, according to VR.
The results confirm and expand upon the potential significance of the REE and critical metal component of the hydrothermal breccia system at H-K as first discovered in VR’s reconnaissance drilling last year, CEO Michael Gunning told investors.
The CEO said that despite the early stage of drilling, four different styles of mineralization are already evident at H-K: REE + Nb in veined and brecciated carbonatite dykes; lithium mineralization in hydrothermal breccia; copper sulfide in veinlets with iron and silica, and elevated secondary gold in porphyry dykes.
“Of these, it is already clear that the REE + Nb component of the hydrothermal system at H-K has significant potential value based on the vertical and lateral scale represented by the early intersections, the polymetallic signature including niobium, light and heavy rare earth elements, and TREO concentrations over a 299 m intersection are similar to the average grades reported for many REE deposits globally, bolstered by a niobium signature achieving 0.2% over a full 237m within that interval.”
Gunning reminded shareholders that the firm has only just begun to delineate the mineralization, most of which has yet to be drilled.
“Our drilling to date, and this new geochemical data, are just the starting point for a mineral system and host multiphase complex of the scale and metal diversity seen at H-K.”
The company will receive additional geochemical data from the remaining drill holes completed in October and proprietary AI analyses of XRF mineral data, and complete 3-D models integrating new magnetic, density and structural data from drill core.
Contact Angela at angela@proactiveinvestors.com
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