VR Resources Stakes New Property in Nevada to Expand Its Copper-Gold Exploration
VANCOUVER, British Columbia, June27, 2017(GLOBE NEWSWIRE) -- VR Resources Ltd. (TSX.V:VRR) (FSE:5VR), the "Company", or "VR", is pleased to announce that it has staked a new property in connection with its copper-gold exploration in Nevada.The new property, named Big Creek, will be explored concurrently with ongoing plans for a first pass diamond drill program this summer at the Company's Bonita property in Humboldt County.
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The staking of the Big Creek property is the result of the Company's evolving understanding of the geology and exploration potential of northwestern Nevada based on its three years of exploration at the Bonita Property.Similar to the approach the Company took to Bonita three years ago, the Company staked the Big Creek property following a compilation of regional data sets in the Pine Forest Range, and a reconnaissance field examination of a district of historic copper and gold showings.Upon acquisition and evaluation of satellite-based ASTER mineral reflectance data, the Company correlated an anomaly to a hydrothermally altered, veined and brecciated granite stock, and staked the Big Creek property.Detailed geological, geochemical and geophysical surveys will be designed following the completion of reconnaissance mapping and sampling, and integration with available regional data sets.
The Big Creek property consists of 30 claims in one contiguous block covering 620 acres (250 hectares). Big Creek adds to the Company's copper and gold mineral exploration property portfolio and strategy in Nevada (see Figure 1 below; "property map" on www.vrr.ca).It was staked directly by VR and is owned 100%, with no associated royalties.It occurs on land administered by the federal Bureau of Land Management (BLM).Annual land maintenance fees to the Company will be minimal, at US$5,800 per year.
The Big Creek property is located on the eastern flank of the Pine Forest Range, due north across the Black Rock desert from the Company's Bonita property (see Figure 2 below; "Big Creek property" map at www.vrr.ca).There is easy and direct road access to the property along Highway 140, heading north from Winnemucca.
The Bonita property continues to be the primary focus of the Company's copper-gold exploration strategy in Nevada.First-pass diamond drilling is planned for this summer, the culmination of some 2 1/2 years of surface exploration and targeting for porphyry copper-gold deposits.The property is large, encompassing a district of historic copper, gold and iron workings (see "satellite image" under Bonita Property at www.vrr.ca).The workings 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.
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, with railroad and powerline infrastructure located 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"
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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