VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCQB: VRRCF), the “Company“, or “VR“, is pleased to provide an update on its ongoing exploration activities at the Silverback and Empire projects in northwestern Ontario.
- Two holes are complete and third underway at Silverback, covering 700 metres of strike along the CZ target;
- Data from the down-hole EM survey at the Westwood target at the Empire Project has arrived, and we expect all remaining geochemical data from the December drill program next week.
Justin Daley, CEO of VR Resources, stated, “The crew and rig at Silverback are fully in gear now, and we are genuinely excited about what the first two holes are showing us.
As described in the bullets below, the geological observations so far at Silverback are consistent with our exploration model, using state-of-the-art 3D DCIP data to identify sulfide anchored to a major structure that is evident in our magnetic data. The structure is crossing a large mafic-ultramafic body with nickel mineralization, and is invaded by a strongly altered feldspar porphyry. The presence of trace molybdenite in drill core, along with disseminated pyrite in silicified porphyry with stockwork veining is particularly exciting as it reminds us of known intrusion-related gold systems in the Archean Superior craton elsewhere in Ontario.
We look forward to providing further updates as our exploration advances at Silverback, and all geochemistry results are finally received for the Westwood project.”
Silverback Drilling Progress
The first two holes at Silverback, totalling 478 meters, are now complete. The two holes are 700 m apart along the north-south strike of the CZ IP anomaly (Figure 1). Both holes have intersected our target. Key observations from drill core include:
- Molybdenite is observed locally with disseminated pyrite and hydrothermal silicification in feldspar porphyry. This supports occurrences of molybdenite observed on fractures in outcrops nearby (Figure 1).
- Disseminated and vein-hosted pyrite occurs in alteration zones in both drill holes, and within and around quartz-carbonate veining, aligning well with modeled IP chargeability anomalies.
- Quartz-Carbonate veining is extensive in both holes, especially in zones of increased shearing and hydrothermal alteration characterized by silicification.
- Shearing and foliation are widespread in both holes, and present in all lithologic units, reinforcing the strong structural control on hydrothermal alteration and mineralization in the CZ anomaly.
- Silicification in multi-meter zones of intense hydrothermal alteration are observed in the feldspar porphyry in both holes, alongside clay-sericite alteration similar in form to the altered porphyry with elevated gold reported for Hole SB24-002 in News Release NR-24-23 on October 24, 2024.
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