VR Resources Ltd (TSX-V:VRR, OTCQB:VRRCF) said it has wrapped up its third drill program on its Hecla-Kilmer property in northern Ontario, the site of a large-footprint copper-gold breccia target with critical metals.
The Vancouver-based company completed a 2,751-metre program over eight holes ranging from 249 metres to 378 metres each.
"The third drill program at Hecla-Kilmer is under our belt, completed on schedule and on budget, with a metre and hole production that far surpassed our expectations,” VR CEO Michael Gunning said in a statement.
READ: VR Resources says set to start third drill program at its Hecla-Kilmer (H-K) property in Ontario
The 17 drill holes now completed to date in the three successive drill programs at Hecla-Kilmer (H-K) encompass a full range of targets which include anomalous magnetic lows, magnetic highs, and sharp magnetic and gravity contacts, Gunning said.
“Further, the area now covered by drilling spans the northwestern quadrant of the complex, the southern rim, and the western margin of the large nepheline syenite intrusion that forms the central core to the overall multiphase alkaline complex at H-K,” Gunning told investors.
“The potassic alteration mineralogy and hydrothermal vein and breccia textures…for Hole 14, together with fluorite veins, are evident in intervals from tens to hundreds of metres long in all eight drill holes completed in this third drill program at Hecla-Kilmer.”
Previous drill holes intersected rare earth elements (REE) and critical metals in hydrothermal breccia with carbonatite dykes and veins in intervals from 50 to 299 metres long, with total REE concentrations up to 2.3 % total rare earth oxide.
“We will comment on the potential for critical metal mineralization in the relatively more intense and more extensive breccias intersected in this third drill program when geochemical data become available,” the CEO added. “We also await the new data to improve our understanding of how copper and gold relates to sulfide mineralization, and structure, as reported from previous drilling.”
The company expects data from the early drill holes to be available in June.
Contact Angela at angela@proactiveinvestors.com
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