VR receives new over-limit geochemical data from Hole HK22-013 and increases PMREO content to 21.1% of TREO at Hecla-Kilmer in Northern Ontario - GlobeNewswire

VANCOUVER, British Columbia, Nov. 29, 2022 (GLOBE NEWSWIRE) -- VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCQB: VRRCF), the "Company", oregon “VR”, is pleased to study receipt of further geochemical information which increases the PMREO⁽³⁾ contented of the high-grade uncommon world constituent mineralization intersected successful HK22-013 astatine its Hecla-Kilmer captious metallic task (“H-K”) located successful Northern Ontario.

The intersection for Hole 13, primitively reported connected July 21^st, 2022 successful NR-22-08, is present reported as:

• 243 m @ 1.02 % TREO⁽¹⁾, of which 21% are PMREO, within 287 m @ 0.90 % TREO, starting astatine surface and continuous to extremity of hole, and including: **
  • 66.61 m astatine 1.57 % TREO, starting astatine 155 m extent and including:
    • 39 m @ 2.04 % TREO starting astatine 155 m.
      

• The 66.6 m @ 1.57% TREO is made up of 20.7% Magnet REO (Nd, Pr, Dy, Tb);
  
• The 39 m interval @ 2.04 % TREO contains 15.71% P₂O₅.

Hole HK22-13 ended successful precocious people mineralization: 15 m @ 2.22% TREO with 21.3% PMREO. The precocious people mineralization is unfastened beyond the extremity of the spread astatine 330m. As such, the spread was extended successful the caller drill program, and Hole HK22-013ext was completed to 504 m (see Figure 1). Data are pending.

Photo 1. Example of high-grade REE mineralization successful drill halfway successful Hole 13.
Photo 2. Core photograph and QEMSCAN representation showing the REE mineralogy of the mineralization instantly beneath and adjacent to the drill collar for Hole 13.

Explanation

VR utilizes investigation by lithium-borate fusion astatine ALS Laboratories successful bid to optimize the detection of the afloat suite of uncommon world elements for its drill halfway samples from Hecla-Kilmer, successful summation to modular ICP-MS and ICP-AES analyses for basal metals and hint elements, and golden determination by atomic absorption assay. If immoderate illustration exceeds 10,000 ppm Ce (cerium) oregon 1,000 ppm Pr (praseodymium), it is re-run utilizing a higher instrumentality calibration successful bid to optimize the accuracy of information from high-grade mineralization. A full of 34 samples from Hole 22-13 exceeded the over-limit, and truthful the full 66.61 metre intersection was re-analysed with the higher instrumentality calibration resulting successful the results reported today.

Figure 1 shows the beardown correlation among each the idiosyncratic imperishable magnet uncommon world elements wrong the TREO mineralization astatine Hecla-Kilmer. Further, the correlation betwixt TREO and P2O5 successful the information is exceptionally high, which is accordant with the phosphate minerals monazite and apatite identified by QEMSCAN arsenic cardinal mineral hosts to REEs astatine Hecla-Kilmer, arsenic shown successful Photo 2. This mineralogy is aligned with the lone REE extraction installation successful Canada, which conscionable opened successful Saskatoon and is focused connected monazite.

Comment connected Significance

The caller information reported for Hole 13 show a 2% wide summation successful PMREO astatine Hecla-Kilmer, driven mostly by erstwhile underreporting of praseodymium, 1 of the 4 high-demand uncommon world oxides utilized successful imperishable magnets (the “PMREO”).

PMREO are much important successful satellite markets due to the fact that they are indispensable successful the manufacturing of motors for electrical vehicles and upwind vigor turbines, captious components successful the emerging greenish economy. The precocious terms of the 4 PMREOs partially reflects the constraints connected request due to the fact that of the planetary monopoly controlled by China.

These caller information lone re-emphasize that the polymetallic mineralization astatine Hecla-Kilmer competes with the world’s best of breed REE deposits. The proportionality of TREO arsenic PMREO, peculiarly praseodymium, neodymium, and terbium, is higher astatine Hecla-Kilmer than astatine existing carbonatite REE mines of Bayan Obo (largest) and Mountain Pass (highest grade).

Next Steps

The find has progressed continuously since mineralization was archetypal intersected astatine aboveground successful Hole 4 during the archetypal recce’ programme successful October, 2020. Since then, VR has expanded geochemical techniques to see investigation by lithium-borate fusion to optimize detection of each REEs and utilized QEMSCAN bladed conception investigation to qualify REE mineralogy. Going forward:

1. VR has selected further precocious people REE samples from crossed the spot for scanning electron microprobe (SEM) probe to find precisely which minerals big the precocious worth magnet uncommon world elements. Initial results are expected by year-end, and enactment volition beryllium ongoing done 2023;
2. VR has initiated the scoping for a metallurgical trial / extraction survey utilizing a bulk illustration of halfway from a drill spread with a wide intersection of mineralization starting astatine surface. This enactment is planned for the archetypal fractional of 2023, utilizing the world-class REE expertise astatine SGS Laboratories successful Ontario.
   

The spot of the find astatine Hecla-Kilmer is scale, that is, the sheer lateral breadth of the hydrothermal breccia strategy and precocious somesthesia potassic alteration, and the vertical grade of REE mineralization intersected successful drill halfway and starting from surface. The program representation successful Figure 2 provides the illustration: determination are present intersections with > 1% TREO successful 11 of the archetypal 17 drill holes completed connected the project, and they span immoderate 2.5 km crossed the complex.

The way towards advancing this find is strengthened by its location, conscionable 23 km to the westbound of the provincial hydroelectric dam astatine Otter Rapids, with supporting and progressive Ontario Northern railroad and Highway 634 infrastructure.

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.

**
(1) TREO is the summation of Ce2O3 + La2O3 + Pr2O3 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb2O3 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3.
(2) PMREO is the sum of precocious worth uncommon world oxides utilized successful imperishable magnet motors and turbines utilized successful electrical vehicles and upwind turbines (Pr2O3 + Nd203 + Tb2O3 + Dy2O3). The % Magnet REO file is this PMREO sum divided by TREO, and expressed arsenic a percent.

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

For wide accusation delight usage the following:

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 as “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.

Photo 1. Photograph of drill halfway with 2.2% TREO and 19% P205 at 219m successful spread HK22-013 is disposable astatine https://www.globenewswire.com/NewsRoom/AttachmentNg/ec95ea08-e01e-45da-a932-0624ee50638b. Rare world constituent mineralization is amongst a myriad of carbonatite dykes (phoscorite and sovite) which themselves are chopped by fluorite-rich carbonate veins. Protolith alkaline igneous rocks are wholly replaced by a potassic alteration assemblage dominated by hydrothermal biotite.

Photo 2. Drill halfway photograph and QEMSCAN representation from the apical of drill spread HK20-004 (a proxy for the apical of Hole 13 drilled from the aforesaid collar) showing altered magnetite needles with absorption rims of pyrite–pyrrhotite–iron carbonate and bastnaesite (LREE)–pyrochlore (Na,Ca)₂Nb₂O₆(OH,F) successful a matrix of apatite with calcite inclusions containing monazite ((Ce,La,Nd,Th)PO₄), quartz and potassium feldspar is disposable astatine https://www.globenewswire.com/NewsRoom/AttachmentNg/af73b5e1-de55-4d05-af7f-a9feed68ec5d. The magnetite-quartz-potassium feldspar assemblage is a precocious somesthesia potassic alteration facies.

Figure 1. Graphic log of REE intersection successful drill spread HK22-013 and the spread hold completed successful October 2022 to a extent of 504m is disposable astatine https://www.globenewswire.com/NewsRoom/AttachmentNg/055e9a20-f451-4952-9dd3-f8f2dd4f9d94. High worth imperishable magnet REO elements Nd, Pr, Tb, and Dy are shown arsenic a cumulative proportionality of full REO and mean 21%, with neodymium making up the bulk.

Figure 2. 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, plotted connected a contoured RTP magnetic basal representation with superimposed 3D isoshells from the MVI inversion is disposable astatine https://www.globenewswire.com/NewsRoom/AttachmentNg/7506d95e-4319-466d-984a-2ab710340c88.