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VR Resources confirms porphyry copper system at Junction property, Nevada

The Vancouver-headquartered firm has recently completed reconnaissance drilling at the project, which, the firm says, has confirmed the new Cretaceous copper system

Pictured is a man surveying the scene at the Junction project in Nevada
The Junction project in Nevada

VR Resources Ltd (CVE:VRR) has revealed positive news from work at its Junction property - namely that it is a new porphyry copper system in Nevada.

The Vancouver-headquartered firm has recently completed reconnaissance drilling at the project, which, the firm says, has confirmed the new Cretaceous copper system.

"The upside potential of the porphyry-style potassic alteration and copper mineralization discovered in this drill program lies in its age," said VR's CEO Dr Michael Gunning.

READ THE BIG PICTURE: VR Resources combines an experienced board with a highly prospective West Coast exploration portfolio

"It (Junction) is the same age as the Robinson porphyry copper deposit at Ely in east-central Nevada, with a history that dates back to 1876. Still in production today, KGHM Polska Miedz S.A. operates a large-scale open pit mine to recover copper, gold and molybdenum for export."

Gunning said that the company would advance Junction in 2019 based on the porphyry-style mineralization discovered by this drilling, the obvious exploration vectors using resistivity mapping, and the knowledge that we have a proven and significant analogue of the same age along trend to the southeast at Ely.

The firm said that copper mineralization found in one hole was associated with a high resistivity potassic alteration zone with hydrothermal magnetite.

Based on this drilling, the company said it will now focus on three anomalies along the 6 km trend of copper-bearing dykes at Junction in 2019.

The Junction property consists of 149 claims covering around 3,034 acres (1,227 hectares) within an area of around 7.5 by 3 kilometres.

The property is on land administered by the federal Bureau of Land Management (BLM) and is not impacted by the sage grouse protection program.

Shares were unchanged at $0.165.

Contact Giles at [email protected]

Follow him on Twitter @Gile74

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Full interview: VR Resources finds IP anomaly at Big Ten in Nevada, Drill...

VR Resources (CVE:VRR-OTCBB: VRRCF) President and CEO Michael Gunning sat down with Steve Darling from Proactive Vancouver with news the company has completed some GEO physical works on their project in Nevada, Big Ten. Gunning talks about what they found and how this helps in the drilling...

on 19/12/19

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