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VR Resources Ltd

VR Resources kicks off exploration program at expansive Ranoke copper-gold project

The junior exploration company outlined its summer plans at the early-stage project, which consists of 345 contiguous claims covering over 7,000 hectares

ranoke
The Ranoke property is a large-scale copper-gold target in northern Ontario

VR Resources Ltd (CVE:VRR) (OTCMKTS:VRRCF) is banking on discovery at its Ranoke copper-gold property, where a new exploration program recently began.

In an announcement Tuesday, the Vancouver-based company outlined its summer plans at the early-stage project, which consists of 345 contiguous claims covering over 7,000 hectares in northern Ontario.

An airborne geophysical survey is currently underway at Ranoke in a bid to refine drill targets that were previously pinpointed with the help of regional government surveys and historical exploration reports, the company said in a statement.

READ: VR Resources raises $650,000 to bolster exploration at Ranoke project in Ontario

The survey, which is being run by Sander Geophysics Ltd, will define high-density anomalies that are most prospective for an iron-copper breccia body and map density variations within the anomaly to prioritize the zones.

The junior explorer has also commissioned a high-resolution soil geochemical survey and its partner CO Geosciences Inc in the process of collecting samples from the field. The samples at Ranoke are being collected from four to six feet below surface in the upper layers of soil and below water-saturated muskeg, the company said in a statement.

“Both the airborne gravity and soil gas geochemical surveys at Ranoke have been three months in survey design and planning, from the selection of technologies available, to the design of survey parameters specific to the Ranoke target,” said Dr Michael Gunning, CEO at VR Resources.

“Our goal is the discovery of a copper-gold deposit at one or more of the large magnetic pipes at Ranoke, and we believe the gravity and soil gas technologies at Sander and AGI respectively will optimize our chance of success.”

Results from the airborne survey are expected within eight weeks and the geochemical survey results are expected in August.

Shares of VR were trading at C$0.14 on Tuesday afternoon.

--Updates share price--

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

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Price: $0.35

Market: TSX-V
Market Cap: $19.94 m
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Full interview: VR Resources sees large anomaly while using airborne...

VR Resources (CVE: VRR-OTCBB: VRRCF) CEO Michael Gunning sat down with Steve Darling from Proactive Vancouver to discuss this discovery on their Ranoke copper-gold project on Ontario.  Gunning discusses what this means for the project and what the next steps will be. He also tells...

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