VR Resources Ltd (CVE:VRR) (OTCBB:VRRCF) announced Thursday it has successfully closed on its acquisition of the Hecla-Kilmer property (HK) in northern Ontario as it plans to commence exploration immediately.
Hecla-Kilmer is a kilometre-scale, polyphase alkaline intrusive complex with carbonatite, and there has been no previous exploration or drilling for a copper-gold hydrothermal breccia system, according to a statement.
VR Resources said it has an opportunity to apply modern carbonatite mineral deposit models and exploration technologies to the property for the first time ever.
A regional base-metal exploration program in 1971 included five shallow drill holes at HK. Drill core rubble was retrieved from the bush by the property vendors in 2012, 2014 and 2019, cleaned, and studied at the Microlithics Lab in Thunder Bay, Ontario.
VR Resources said it recently reviewed the core and historic data, determining an untested potential for a copper-gold hydrothermal breccia deposit.
The company plans to complete a high-resolution airborne EM survey shortly in order to evaluate the largely untested interior of the polyphase complex for a magnetite-copper-gold-fluorite hydrothermal breccia body.
The HK complex is located roughly 35 kilometers southwest of VR Resources’ Ranoke property and consists of 80 mineral claims in a block covering 1,649 hectares.
“HK has been on VR’s radar for the past two years, since the beginning of our compilation of regional data and targets for our Ranoke copper-gold strategy,” said CEO Michael Gunning.
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