VR completes the fall drill program at its Hecla-Kilmer critical metals discovery in Northern Ontario - Junior Mining Network

TSX.V: VRR
www.vrr.ca

Mr. Michael Gunning reports:

VANCOUVER, British Columbia, Nov. 15, 2022 (GLOBE NEWSWIRE) -- VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCQB: VRRCF), the "Company", oregon “VR”, is pleased to denote the palmy completion of the autumn drill programme astatine its Hecla Kilmer (“H-K”) task and captious metals find located successful bluish Ontario.

• 1,719 m completed successful 6 drill holes, ranging from 147 – 396 metres successful length;
• 1,273 samples person been submitted for geochemical analysis.

Program Summary

VR has present completed 22 drill holes for a full of 8,767 m astatine Hecla Kilmer, successful 4 programs starting successful the autumn of 2020. The locations of each holes are shown connected the property-scale magnetic representation successful Figure 1.

The existent drill programme completed 3 holes to trial for extensions astir the 243 m intersection astatine 1.01 % TREO successful Hole 13, and; 2 holes were completed astir the 55 m intersection successful Hole 15 located 2.5 km to the south, successful the southbound rim of the complex.

The exploration campy established successful 2020 astatine the terminus of Highway 634 astatine the Otter Rapids hydroelectric installation again provided for businesslike and cost-effective logistics for the six week program.

The Company is capable to taxable its drill halfway samples for geochemistry to the laboratory successful Timmins successful sequence, arsenic each drill spread is completed, due to the fact that Timmins is conscionable a 3 hr thrust southbound from camp. The Company expects to person last information done the upcoming months of December and January.

Comment

From VR’s CEO, Dr. Michael Gunning, “We are highly pleased that the autumn upwind model this twelvemonth facilitated our strategy to implicit a 4th drill programme astatine Hecla-Kilmer and to get our archetypal reconnaissance trial spread into the ample magnetic anomaly astatine our Northway spot located conscionable 12 km to the northeast.

The find process astatine Hecla-Kilmer began with REE mineralization discovered astatine aboveground successful Hole 4 of the archetypal programme successful the autumn of 2020. It has precocious to delineation drilling upon intersecting mineralization successful 11 of 17 holes successful 3 successive programs since. The extremity of this 4th programme was to implicit further drill holes into the 2 main areas with known higher people captious metallic mineralization successful bid to statesman the appraisal of their imaginable for mineral volume.

We judge we achieved our extremity with this drilling. Rare world constituent mineralization successful the archetypal 17 holes astatine Hecla-Kilmer is astir powerfully associated with zones of carbonatite dykes and hydrothermal breccia, and much specifically, phoscorite carbonatite dykes and veins with prismatic apatite and cockade biotite and magnetite connected vein selvages. Provided present are 3 halfway photos which exemplify these associations successful the recent drilling: Photo 1 & Photo 2 - phoscorite veins with apatite shown from Hole 18 and Hole 13 hold respectively and; Photo 3 - carbonatite dykes and hydrothermal breccia shown from Hole 19 from the southbound rim of the complex, which tests for mineralization straight beneath the collar for the precocious people intersection successful Hole 15 from past spring.

Going forward. Concurrent with this drilling, VR has commenced scanning electron microprobe probe to find precisely which minerals big the precocious worth magnet uncommon world elements. Second, VR has besides begun scoping a metallurgical trial / extraction survey utilizing a bulk illustration of full halfway from a mineralized drill hole.

A remark connected Northway. The sixth and last spread of the programme was completed connected the Northway spot and magnetic anomaly located 12 km to the northbound of H-K. The spread was completed to 282 m, people extent into the bosom of the 3-D MVI magnetic inversion anomaly derived from our ultra – high-resolution drone magnetic survey completed successful April. The MVI anomaly is anchored by a northeast-southwest operation that crosscuts the 1.3 km successful diameter, circular magnetic anomaly astatine Northway. We judge we intersected our people astatine Northway connected the archetypal hole; a diatreme breccia tube that comes to basement aboveground beneath the screen of till and Paleozoic sediment. Additional accusation connected this caller intercept volition beryllium forthcoming shortly.” 

Background for the Emerging Discovery astatine Hecla-Kilmer

Hecla-Kilmer (“H-K”) is simply a ample and multiphase alkaline intrusive analyzable with carbonatite. It is 4 – 6 km successful size, Proterozoic successful age, and was emplaced on the occidental borderline of the crustal-scale Kapuskasing structural portion which bisects the Archean Superior Craton successful bluish Ontario.

Ashland Oil and Elgin Petroleum did reconnaissance drilling astatine H-K successful 1970 arsenic portion of a determination basal metallic exploration program. A scant 854 m were completed successful 5 holes, each located connected magnetic highs successful the outer concentric zones of the complex. No geochemical sampling oregon information are reported. The Aquitane Company of Canada besides explored the portion successful the aboriginal 1970’s, doing reconnaissance geophysics and 12 follow-up drill holes focused connected the Paleozoic Hudson support carbonates and basal arenites. Selco Exploration Company completed 2 drill holes successful 1981 connected peripheral magnetic highs arsenic portion of a determination diamond exploration program. After this humanities drilling, a determination airborne magnetic survey was completed successful 1993 for ongoing diamond exploration successful the region, and it provided a caller and high-resolution of item for the full H-K complex.

The accidental for VR is to beryllium the archetypal institution to use modern IOCG and carbonatite mineral deposit models to research the multiphase H-K analyzable and hydrothermal breccia strategy arsenic a whole, and to usage caller exploration technologies not antecedently disposable erstwhile the historical drilling was done.

VR completed the archetypal airborne EM survey implicit H-K successful June, 2020, utilizing the state-of-the-art VTEM+ strategy of Geotech Ltd. Flown astatine 100 m enactment spacing implicit a 6 x 7 km survey artifact for a full of 450 line-km, the information supply a precocious solution of detail. The Company besides completed an independent, 3-D inversion of some magnetic and EM data, for improved modeling of the analyzable successful 3 dimensions. A detailed, ground-based gravity survey covering an country of 1.5 x 3.5 km was completed successful the wintertime play of 2021, with high-resolution information generated from 597 stations connected an equant grid spacing of 100 m.

VR completed 4 drill holes for a full of 1,971 m successful October, 2020, targeting the bluish MVI (magnetic inversion) anomaly astatine H-K. In October, 2021, the Company followed up that drilling with the completion of 5 further holes for a full of 2,604m, targeting the precocious contrast, 3.5 mGal gravity anomaly that is co-spatial with, but somewhat offset from the MVI magnetic anomaly. Fluorite-carbonate hydrothermal breccia with carbonatite dykes and vein breccia was discovered successful Holes 2 & 4. It comes to surface, and extends to much than 500 m vertical depth. It is hosted successful a precocious temperature, sulfide-bearing calc-potassic alteration strategy which wholly overprints archetypal alkaline and carbonatite big rocks. Broad, intersections up to 299 m agelong are polymetallic successful nature, with captious metals including some airy and dense uncommon world elements, yttrium, niobium, phosphorous and iron, with copper sulfide locally, and golden elevated successful phonolite dykes connected controlling structures.

A state-of-the-art, ultra- high-resolution drone magnetic survey completed implicit the northwestern portion of the H-K analyzable successful the autumn of 2021, and was expanded successful the wintertime play of 2022. The last survey is 3.4 x 4.5 km successful size, comprising 121 lines astatine some 25 and 50 m line-spacing for a full of 410 line-km. A 3rd drill programme was completed astatine Hecla-Kilmer successful May-June of 2022, to travel up connected the broad, polymetallic intersections of captious metals successful 2020 and 2021 by utilizing the analytic awesome (“AS”) magnetic anomalies derived from the caller drone airborne survey arsenic an denotation of higher concentrations of hydrothermal magnetite. A full of 2,751 metres were completed successful 8 drill holes ranging from 249 – 378 metres long. Key results include:

• Hole 13 intersected 243 metres @ 1.01% TREO, of which 20% are PMREO*, within 287 metres @ 0.90% TREO, starting astatine surface and continuous to the bottommost of the hole, and including 65 metres astatine 1.66% TREO, starting astatine 155 metres, of which 21% are PMREO, and which includes 39 metres @ 2.01% TREO starting astatine 155 metres.
• Hole 15 located immoderate 2.5 km to the south, connected the southbound rim of the complex, intersected 25.5 metres @ 1.131% TREO with 18% arsenic Magnet REO*, wrong 55.2 metres @ 0.70% TREO starting little than 30 metres from bedrock surface.

VR has present intersected precocious people Critical Metal mineralization with > 1% TREO with a proportionality of PMREO from 18-21 % successful 11 of the archetypal 17 drill holes completed to day with geochemical information successful hand. The mineralization is astatine oregon adjacent aboveground successful 3 antithetic areas that are 2.5 km apart. Drilling is inactive astatine a precise aboriginal signifier astatine H-K, yet the 17 holes show some the lateral and vertical standard of the hydrothermal breccia and alteration system, and the precocious worth quality of the polymetallic captious metallic mineralization.

Technical Information

Summary method and geological accusation for the Company’s assorted exploration properties is disposable astatine the Company’s website astatine www.vrr.ca.

VR submits sawn drill halfway samples for geochemical assay to the ALS Global Ltd. (“ALS”) laboratory facilities successful Timmins, Ontario, with last geochemical analytical enactment done astatine the ALS laboratory located successful North Vancouver, BC., including lithium borate fusion, ICP-MS and ICP-AES analyses for basal metals, hint elements and full-suite REE analysis, and golden determination by atomic absorption connected occurrence assay. Analytical results are taxable to industry-standard and NI 43-101 compliant QAQC illustration procedures, including the systematic insertion of some illustration duplicates and geochemical standards done some externally connected the task tract by the Company and internally astatine the laboratory by ALS, arsenic described by ALS.

Technical accusation for this quality merchandise has been prepared successful accordance with the Canadian regulatory requirements acceptable retired successful National Instrument 43-101. Justin Daley, P.Geo., VP Exploration and a non-independent Qualified Person oversees each aspects of the Company’s mineral exploration projects, and the contented of this quality merchandise has been reviewed connected behalf of the Company by the CEO, Dr. Michael Gunning, P.Geo., a non-independent Qualified Person.

About the Hecla-Kilmer Property

The Hecla-Kilmer analyzable is located 23 km northwest of the Ontario hydro-electric installation astatine Otter Rapids, the Ontario Northland Railway, and the bluish terminus of Highway 634 which links the portion to the towns of Cochrane and Kapuskasing to the south, itself located connected the bluish Trans-Canada Highway.

The H-K spot is large. It consists of 224 mineral claims successful 1 contiguous artifact astir 6 x 7 km successful size and covering 4,617 hectares. The spot is owned 100% by VR. There are nary underlying, yearly lease payments connected the property, nor are determination immoderate associated task oregon back-in interests.

Hecla-Kilmer is located connected provincial crown land, with mineral rights administered by the Ontario Ministry of Northern Development, Mines, Natural Resources and Forestry (“MNDM”). There are nary yearly payments, but the MNDM requires definite yearly exploration expenditures and reporting. The spot falls wrong the accepted territories of the Moose Cree and Taykwa Tagamou First Nations.

About VR Resources

VR is an established inferior exploration institution focused connected greenfields opportunities successful captious metals, copper and golden (TSX.V: VRR; Frankfurt: 5VR; OTCQB: VRRCF). VR is the continuance of 4 years of progressive exploration successful Nevada by a Vancouver-based backstage company. The instauration of VR is the divers acquisition and proven way grounds of its Board successful early-stage exploration, find and M&A. The Company is well-financed for its exploration strategies and firm obligations, and focuses connected underexplored, large-footprint mineral systems successful the occidental United States and Canada. VR owns its properties outright and evaluates caller opportunities connected an ongoing basis, whether by staking oregon acquisition.

ON BEHALF OF THE BOARD OF DIRECTORS:

“Michael H. Gunning”
____________________________

Dr. Michael H. Gunning, PhD, PGeo
President & CEO

Forward Looking Statements

This property merchandise contains forward-looking statements. Forward-looking statements are typically identified by words specified as: believe, expect, anticipate, intend, estimate, postulate and akin expressions oregon those which, by their nature, notation to aboriginal events. Forward looking statements successful this merchandise see those related to the companies upcoming plans, specified arsenic “we expect receiving information done the upcoming months of December and January”, and “VR evaluates caller opportunities connected an ongoing basis, whether by staking oregon acquisition.”

This quality merchandise contains statements and/or accusation with respect to mineral properties and/or deposits which are adjacent to and/or perchance akin to the Company’s mineral properties, but which the Company has nary involvement successful nor rights to explore. Readers are cautioned that mineral deposits connected akin properties are not needfully indicative of mineral deposits connected the Company’s properties.

Although the Company believes that the usage of specified statements is reasonable, determination tin beryllium nary assurance that specified statements volition beryllium to beryllium accurate, and existent results and aboriginal events could disagree materially from those anticipated successful specified statements. The Company cautions investors that immoderate forward-looking statements by the Company are not guarantees of aboriginal performance, and that existent results whitethorn disagree materially from those successful forward-looking statements. Trading successful the securities of the Company should beryllium considered highly speculative. All of the Company’s nationalist disclosure filings whitethorn beryllium accessed via www.sedar.com and readers are urged to reappraisal these materials.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that word is defined successful Policies of the TSX Venture Exchange) accepts work for the adequacy oregon accuracy of this release.

Figure 1. Key captious metallic intersections from the archetypal 17 drill holes completed astatine Hecla-Kilmer, and locations of the 5 caller holes completed successful October, 2022, each plotted connected a contoured RTP magnetic basal representation with superimposed 3D isoshells from the MVI inversion.

Photo 1. Drill halfway from 391 m successful Hole HK22-018 showing cockade prismatic amphibole (green) and biotite (black) crystals up to 1cm successful magnitude increasing into a phoscorite vein composed of coarse calcite and apatite (pink). The precocious halfway space ample crystal growths suggest a adjacent vertical emplacement and extensional unfastened space. NQ halfway diameter is 36.5 mm.

Photo 2. Drill halfway from 439m extent successful the hold of HK22-013 wherever drilling finished successful mineralization past spring. The wholly biotite replaced big stone has been brecciated and infilled by a dense web of calcite-apatite veins with 2-5mm biotite crystal growths connected the margins.

Photo 3. Core seat photograph of carbonatite (sovite) dykes and vein breccia observed implicit 10’s of metres successful HK22-019 connected the confederate rim of the Hecla-Kilmer alkaline intrusive complex. Unique to this portion are the good grains of biotite-amphibole and apatite streaming done the calcite-dominated sovite dykes. This vertical spread was drilled from the aforesaid pad arsenic the 55.2 metres astatine 0.70% TREO astatine a lateral region of astir 60 metres astatine this depth.