VR Resources Ltd (CVE:VRR) (OTCQB:VRRCF) (FRA:5VR) reported that it has completed the 2020 field season at its Reveille silver-copper property in Nevada, in which a total of 166 soil samples and 63 rock samples were collected during the last three weeks.
The company said it expects to receive all of the geochemical results from the soil and rock sampling completed in November and December by January 2021.
“Field work and geophysics have been ongoing since June, and it is fair to say that Reveille has advanced more quickly than we expected. Our objective has been to identify a new and previously unexplored target for the core of the Reveille silver-copper CRD mineral system, beyond the individual showings of high-grade silver-copper mineralization exposed on the hills of the south Reveille range. We believe that we have that target in the large magnetic anomaly and specific EM conductor in the covered valley on the western flank of the range,” said VR Resources CEO Michael Gunning in a statement.
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He added: “And while we recognized the gold at Reveille when we began our exploration, it was not our focus, but field work has shown that a robust gold event is present, and that a high amplitude gravity feature might represent a low volume but high value, pipe-like core to this gold-bearing fluid. Both of these target areas for the complimentary metal systems at Reveille are covered and have never been tested in the 150 years of prospecting in the hills to the east.”
VR Resources noted that its rock sampling program during the fall was focused on gold, while the soil survey was designed to provide geochemical vectors that will hopefully determine the source of the fluids responsible for the high-grade silver-copper showings on the hills to the east.
The company said it is currently evaluating a state-of-the-art 3D DCIP geophysical survey for late January and, upon the integration in January of all project data, drill hole locations already laid out based on data in-hand will be refined, finalized and prioritized.
It added that planning for the permitting of a reconnaissance-style RC drill program is already underway, and the company expects to complete the permit application sometime in January for a drill program later next winter.
VR Resources said it expects to have a busy 2021, which will include several planned drill programs that it anticipates will enhance shareholder value.
Contact Sean at sean@proactiveinvestors.com
