VR Resources poised for more exploration at Reveille silver project after receiving drill permit
The explorer said it aims to get drill rigs turning in two to three weeks at Reveille
Company
CVE:VRR
VR Resources Ltd is an established junior exploration company focused on greenfields opportunities in copper and gold. VR is the continuance of 4 years of active exploration in Nevada by a Vancouver-based private company. The diverse experience and proven track record of its Board in early-stage exploration, discovery and M&A is the foundation of VR. The Company focuses on underexplored, large-footprint mineral systems in the western United States and Canada, and is well financed for its exploration strategies and corporate obligations. VR owns its properties outright, and evaluates new opportunities on an ongoing basis, whether by staking or acquisition.
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The explorer said it aims to get drill rigs turning in two to three weeks at Reveille
The company issued just over 5.1 million units priced at $0.30 each for gross proceeds of $1,540,480
The company said it will use the gross proceeds of the financing for mineral exploration on its properties in Nevada and Ontario, and for general administrative costs
The junior explorer is planning a two-stage, reverse circulation drill program on the property
The company said it expects to receive all of the geochemical results from its current soil and rock sampling program by January
The company sank four holes on the northern magnetic anomaly at the property for 1,971 metres (m) before the onset of winter
VR told investors it had now identified a new, previously untested target for the potential core of the Reveille CRD silver-copper mineral system
The objective of this program is to complete the highest priority holes during the fall season when daylight hours for flying are workable, the company said
The work at the 1,157-acre property has included airborne surveying and electo-magnetic work
The VR Resources exploration team has a huge amount of experience
The project lies around 75 km to the southeast and along trend from the company's Big Ten epithermal gold project
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
VR plans to explore Reveille this summer at the same time it plans a drill program on the Amsel gold target at Big Ten
No previous exploration or drilling for a copper-gold hydrothermal breccia system has been done on the property
There hasn’t been any previous exploration for copper-gold breccia systems at HK, meaning VR has the opportunity to be the first to apply modern mineral deposit models and exploration technology at the site
The company will use the funds to bankroll mineral exploration on its properties in Nevada and Ontario
On May 25 this year, the junior explorer announced a private placing of C$1.34 million consisting of up to 5 million units priced at C$0.22 each
The firm has signed two letters of intent with the potential to fortify its existing exploration at Ranoke, a copper-gold property in Ontario, and Big Ten, a gold project in Nevada.
The company found 4.1 grams of gold per ton (g/t) and 311 g/t silver in a surface grab sample
The junior explorer's focus is to uncover, using new and innovative techniques, large copper-gold mineral systems