viewVR Resources Ltd

VR Resources hard at work exploring its three Nevada properties

Surface exploration is ongoing at all three of VR's Nevada properties and will continue through the summer field season

Nevada road sign
The company is focused on exploring large copper-gold mineral systems in the western United States

Drill holes completed to date at VR Resources Ltd's Hemco target at Bonita have provided vectors for further drilling within the alkaline porphyry copper-gold system.

In an update on its exploration activity on its mineral properties in Nevada, the company said the holes drilled thus far at Bonita have intersected a continuous porphyry-style mineral alteration.

READ: VR Resources bolsters three targets in Nevada ahead of potential drilling

A total of 305 drill core samples were submitted for geochemistry, and all data have been received by the company. Salient features include:

  • Continuous alteration for 358 metres in diorite in hole BN-18-005, with 18 metres at the top of the hole

  • Visible copper minerals over 60 metres in pervasive potassic alteration in diorite in hole BN-18-006, with 0.3 grams per tonne (g/t) gold (Au) and 617 parts per million (ppm) copper (Cu) in one 1.5m sample interval, which VR said reinforces the copper-gold correlation evident in hole BN-17-003, drilled last fall

  • 56 metres at the top of hole BN-18-007 of hematite-quartz vein stock-works in pervasive phyllic alteration of diorite, located near the eastern edge of the conductive pipe feature at Hemco

  • Continuous high-temperature alteration over 515 metres in hole BN-18-008, spanning phyllic, inner propylitic and outer calc-potassic porphyry alteration facies in sodic diorite, including several quartz-hematite vein stockwork zones with anomalous copper geochemistry.

The results reinforce the company's conviction on the potential of the large-scale (7 x 7 kilometre) alkaline porphyry copper-gold system at Bonita to host one or more porphyry copper-gold stocks. At Hemco, specific attributes of alkaline porphyry alteration systems and copper-gold mineralization are evident in all five holes drilled at Hemco, VR said.

Meanwhile, the company continues to refine targets at the Junction copper-silver-gold mesothermal vein and dyke system toward a first-pass drill programme planned for this fall.

At the Danbo property, exploration work has been in progress since June. An airborne magnetic and radiometric survey plus an airborne hyperspectral survey were completed in June, covering the recently acquired Amsel property and surrounding area northwest along-strike from Danbo.

Final data and interpretations for both surveys were received in July 2018. The company used the results as the foundation for a nine-day field programme of reconnaissance-level and detailed geological mapping, prospecting and rock sampling on both the Danbo and Amsel properties and surrounding area.

A one-week field programme of geological mapping and prospecting is underway and will run through early August.

Quick facts: VR Resources Ltd

Price: 0.28 CAD

Market: TSX-V
Market Cap: $19.94 m

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