VR Resources (TSXV: VRR) – a Vancouver-based junior exploration company – provided an update on its ongoing exploration activities at the Silverback and Empire projects in northwestern Ontario. The company reported that two holes are complete and a third is underway at Silverback, covering 700 metres of strike along the CZ target; Data from the down-hole EM survey at the Westwood target at the Empire project has arrived, and we expect all remaining geochemical data from the December drill program next week.
Justin Daley, CEO of VR Resources, stated, "The crew and rig at Silverback are fully in gear now, and we are genuinely excited about what the first two holes are showing us.”
Daley added, “The geological observations so far at Silverback are consistent with our exploration model, using state-of-the-art 3D DCIP data to identify sulphide anchored to a major structure that is evident in our magnetic data. The structure is crossing a large mafic-ultramafic body with nickel mineralization and is invaded by a strongly altered feldspar porphyry. The presence of trace molybdenite in drill core, along with disseminated pyrite in silicified porphyry with stockwork veining is particularly exciting as it reminds us of known intrusion-related gold systems in the Archean Superior craton elsewhere in Ontario."
The Silverback project consists of seventy-one mineral claims in one contiguous block covering 4,442 ha. The Empire project consists of 413 mineral claims in two contiguous blocks covering 12,334 ha. Both projects are located on federal Crown land, with mineral rights administered by the Ontario Ministry of Mines. There is a 2% net smelter royalty on the claims. There are no annual payments, but the Ministry requires certain annual exploration expenditures and mineral assessment reports to maintain a mineral claim in good standing. The projects both fall within the Lac de Mille Lacs First Nation traditional territories. More information is posted on www.Vrr.ca.
February 21, 2025
February 20, 2025
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