VR Resources Ltd (TSX-V:VRR, OTCQB:VRRCF) announced that recent drilling has led to the discovery of another high-grade zone of critical metals in one of two new areas of mineralization at its Hecla-Kilmer (H-K) property in northern Ontario.
The drilling results included 25.5 metres (m) of 1.13% total rare earth oxide (TREO), with 18% as Magnet rare earth oxide (REO), within 55.2m of 0.7% TREO starting less than 30m from bedrock surface.
The junior exploration company said the drill results are for the final four holes of the recently-completed drill program at H-K.
“Hecla-Kilmer advances on two fronts based on these new results,” VR Resources CEO Michael Gunning said in a statement.
READ: VR Resources stakes Northway project near its Hecla-Kilmer property in Ontario to further its rare metals strategy
“Holes 15 and 16 confirm that the large, multiphase complex at Hecla-Kilmer has more than one center of carbonatite veins and hydrothermal breccia with high-grade critical metal mineralization, while the broad intersection in hole 17 expands significantly the volume potential for the main area of mineralization discovered in the northwest part of the complex in our first two drill programs,” Gunning added.
VR Resources noted its existing permit at H-K will facilitate follow-up drilling in all three areas of mineralization intersected at the property.
It added that its application for a permit for first-pass drilling of the Northway target located about 15 kilometres to the north is in process and the company expects to provide further updates as it begins its planning for continued exploration this fall.
Based in Vancouver, VR Resources is an established junior exploration company focused on greenfield opportunities in copper and gold.
Contact Sean at sean@proactiveinvestors.com