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VR Resources increases understanding of Ranoke copper-gold project after IP survey

An induced polarization (IP) survey was carried out over three lines on the anomaly, the firm said

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The breccia provides a potential source for the gravity anomaly targeted at Ranoke for copper and gold, the group said

VR Resources Ltd (CVE:VRR) (OTCMKTS:VRRCF) reported details of exploration progress at its Ranoke copper-gold property in Ontario, where a large gravity anomaly has been identified.

An induced polarization (IP) survey was carried out over three lines on the anomaly, which as previously reported, is around 4 km across at Ranoke.

This was to test for chargeable sulfide minerals and VR said Tuesday that the IP anomaly was evident on all three lines.

READ: VR Resources uncovers large anomaly at Ranoke copper-gold project in Ontario

In addition, in a statement today, VR said regional prospecting by the company this summer discovered sulfide-bearing hematite hydrothermal breccia in a river bed 12 km south of the property.

This breccia provides a potential analogue for the IP and gravity anomaly targeted at Ranoke for copper and gold.

"This survey confirms the potential that a copper sulfide-bearing iron oxide breccia pipe is the root cause of the gravity anomaly at Ranoke," said VR's chief executive Dr. Michael H. Gunning.

"We are grateful for the technical expertise and diligence demonstrated by the field crew and technical services group at Quantec for their extended work on the design, execution and interpretation of this TITAN24 survey because the resultant anomaly adds a key focal point for our copper-gold targeting within the large gravity anomaly.

Sulfide bearing

"The sulfide-bearing hematite hydrothermal breccia discovered to the south of the property is from an area with published alluvial gold occurrences, and the rock sample in Figure 3 provides our shareholders with a tangible potential analogue for the copper-gold iron oxide breccia pipe we are targeting at Ranoke. We look forward to providing further updates as our work advances towards a first-pass drill program.”

Ranoke comprises 360 claims over 7,400 hectares and lies in northern Ontario. The property lies 15km west of the CNR railway spur which supplies Moosonee located on tide water 100km to the northeast, and is 50km north of road access to Coral Rapids, an Ontario hydroelectric facility serviced by Highway 634.

Shares nudged up 1.30% to stand at C$0.39.

Contact the author at [email protected]

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