VR Resources Completes IP Survey at the Bonita Copper-Gold Property, Nevada
VANCOUVER, British Columbia, June21, 2017(GLOBE NEWSWIRE) -- VR Resources Ltd. (TSX.V:VRR) (FSE:5VR), the "Company", or "VR", is pleased to announce that it has completed its spring surface exploration program at its wholly owned Bonita copper-gold property located in northwestern Nevada, USA, including an induced polarization (IP) ground geophysical survey over all 8 priority targets.The results are positive and the Company continues to develop plans for a first pass diamond drill program at Bonita this summer.
|
||||||||||
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/ad71a732-abaa-4439-a1be-d170624ddb20
http://www.globenewswire.com/NewsRoom/AttachmentNg/8ca1e3bc-87ae-469d-82a0-18eb8486d1d4
The Company has completed a six-week surface exploration at Bonita. Work includes:
- Geological mapping: 1:5,000 scale, 4 weeks, 7 x 7 kilometre area;
- Rock Geochemistry: 14 samples (96 rock samples collected in 2015 & 2016);
- Soil Geochemistry: 206 samples on 5 lines (541 samples on 13 lines collected in 2015 & 2016);
- Geochronology: 1 sample, syenite (1 gabbro and 1 granite sample collected in December 2016;
- IP; 7 lines, 16 line-kilometres, 150 & 200 m dipole spacing, dipole-dipole array
The Bonita property is large, encompassing a district of historic copper, gold and iron workings (see "satellite image" at www.vrr.ca).The showings are unified by a single, district-scale hydrothermal system with a large, mappable alteration footprint covering the entire property, within which copper sulfide and gold mineralization has been sampled by VR over an area of about 4 x 5 kilometres (see "copper grab samples" at www.vrr.ca).
IP surveys are an important exploration tool for copper-gold porphyry systems; they map chargeable sulfide bodies and resistive alteration facies in buried porphyry copper systems.VR has identified 8 integrated and specific targets for buried porphyry copper stocks within the overall hydrothermal system at Bonita over the past 2 1/2 years of exploration, and this IP survey has confirmed and refined all eight previously established targets (see "IP target map" at www.vrr.ca).On the "IP target map":
- The red circles on the individual IP lines delineate chargeability anomalies associated with integrated magnetic low and gravity low anomalies;
- The yellow circles on the individual IP lines delineate chargeability anomalies associated with high magnitude gravity high anomalies;
IP results are being used to refine and prioritize drill targets. The Company looks forward to providing further updates as plans for a summer drill program advance.
About the Bonita Property
The Bonita property is located in Humboldt County in northwestern Nevada, USA, approximately 200 km northeast of Reno, and 75 km northwest of the town of Winnemucca.
The Bonita property is large, consisting of one contiguous block of 429 claims totaling 3,586 ha (8,862 acres), covering an area of approximately 5 x 6 kilometres (see satellite-based image at www.vrr.ca ).The property was acquired by staking, and is owned 100% by VR, free and clear of any interests or royalties.There are no government-required exploration expenditures.VR has conducted successive exploration programs at Bonita over the past 2 1/2 years (see "work programs summary" at www.vrr.ca).
There is very good road access both to, and within, the Bonita property.Further, there is a national railroad and state power line approximately 20 kilometres to the south.Bonita is located in desert-like basin and range physiography, affording nearly year-round working conditions.Vegetation is sparse, and there are no towns or settlements near the property.
Technical information for this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101, and reviewed on behalf of the Company by Dr. Michael Gunning P.Geo., a non-independent Qualified Person.
About VR Resources
VR Resources Ltd. ("VR") is a new listing in the junior exploration space (TSX.V:VRR) (Frankfurt:5VR).The diverse experience and proven track record of its Board in early-stage exploration and discovery is the foundation of VR. The Company is focused on discovering and delineating large deposits in the western United States.VR is the continuance of 4 years of active exploration in Nevada by a Vancouver-based private exploration company.VR is well financed for a two year exploration strategy already in-place, including first-pass drilling of its core asset, the Bonita Property.VR owns its exploration assets outright, and will evaluate new opportunities on an ongoing basis, whether by staking or acquisition.
ON BEHALF OF THE BOARD OF DIRECTORS:
"Michael Gunning"
________________________
Michael Gunning, PhD, PGeo
President & CEO
Forward Looking Statements
This press release contains forward-looking statements.Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer to future events.Forward looking statements in this release include but are not limited to references to a two-year exploration strategy; first-pass drilling of its core asset and the acquisition of new assets.Although the Company believes that the use of such statements is reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements.Trading in the securities of the Company should be considered highly speculative. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
For general information please use the following: Website: www.vrr.ca Email: info@vrr.ca Phone: 604-262-1104 Renmark Financial Communications Inc. Barry Mire, Account Manager for VR: E-mail: bmire@renmarkfinancial.com Tel.: (416) 644-2020 or (514) 939-3989 Website: www.renmarkfinancial.com