2,751 m completed in 8 drill holes ranging from 249 - 378 m each; assays pending.
Figure 1. Plan map showing drill hole locations and the outline of the overall multiphase Hecla-Kilmer intrusive complex plotted on an RTP magnetic base map derived from the ultra-high-resolution drone magnetic survey expansion completed in March, 2022.
Figure 2. Photograph of drill core at 150 m in drill hole HK22-014. Near complete replacement and overprint of an alkaline shonkinite host rock by a potassic, fenite alteration consisting of magnetite-biotite-calcite-amphibole which is most intensely developed around phoscorite (carbonatite) veins with semi-massive magnetite-apatite.
From VR's CEO, Dr.
As is evident on Figure 1, the 17 drill holes now completed to date in the three successive drill programs at H-K encompass a full range of targets which include anomalous magnetic lows, magnetic highs, and sharp magnetic and gravity contacts. Further, the area now covered by drilling spans the northwestern quadrant of the complex, the southern rim, and the western margin of the large nepheline syenite intrusion that forms the central core to the overall multiphase alkaline complex at H-K.
The potassic alteration mineralogy and hydrothermal vein and breccia textures shown in Figure 2 for Hole 14, together with fluorite veins, are evident in intervals from tens to hundreds of metres long in all eight drill holes completed in this third drill program at Hecla-Kilmer.
Previous drill holes have intersected REE's (rare earth elements) and critical metals in hydrothermal breccia with carbonatite dykes and veins in intervals from 50 to 299 m long, with total REE concentrations up to 2.3 % TREO. We will comment on the potential for critical metal mineralization in the relatively more intense and more extensive breccias intersected in this third drill program when geochemical data become available. We also await the new data to improve our understanding of how copper and gold relates to sulfide mineralization, and structure, as reported from previous drilling. Drill core samples were submitted to the laboratories in sequence, as the holes were completed, so we anticipate data from the early drill holes soon, within the month of June.
We look forward to providing further updates as new data are received and plans are developed for H-K.'
Background
Hecla-Kilmer ('H-K') is a large and multiphase alkaline intrusive complex with carbonatite. It is 4 - 6 km in size, Proterozoic in age, and was emplaced along the western margin of the crustal-scale
A shallow, six-hole diamond drill program was completed in 1970 as part of a regional base metal exploration program by Ashland Oil and Elgin Petroleum. One hole was abandoned, and a scant 854 m were completed in total in the other five holes, all on magnetic highs in the outer concentric zones of the complex. There is no record of drill core sampling or geochemical data.
The opportunity for VR is to be the first company to apply modern IOCG and carbonatite mineral deposit models to explore the multiphase H-K complex and hydrothermal breccia system as a whole, and to use new exploration technologies not previously available when the historic drilling was done.
VR completed the first airborne EM survey over H-K in June, 2020, using the state-of-the-art VTEM+ system of
VR completed four drill holes for a total of 1,971 m in October, 2020, targeting the northern MVI (magnetic inversion) anomaly at H-K.
A state-of-the-art, ultra-high resolution drone magnetic survey was completed in the fall of 2021, and expanded in March of 2022, in order to: 1. cover the entire complex at H-K, and; 2. identify vectors for how best to follow up on the hydrothermal breccia intersections with critical metals and gold in the first two drill programs. The final survey is 3.4 x 4.5 km in size, comprising 121 lines at both 25 and 50 m line-spacing for a total of 410 line-km. The survey produces a very high resolution of data because of the tight line spacing, the low 'tree-top' flight altitude of just 30 metres above ground, and a computerized flight control paired with a new, very high sensitivity potassium-vapour magnetometer.
About the Hecla-Kilmer Property
The Hecla-Kilmer complex is located 23 km northwest of the
The H-K property is large. It consists of 224 mineral claims in one contiguous block approximately 6 x 7 km in size and covering 4,617 hectares. The property is owned 100% by VR. There are no underlying annual lease payments on the property, nor are there any joint venture or back-in interests. There is an industry-standard royalty attached to the property, including a buy-back provision in favour of VR.
Like the Ranoke property, H-K is located on provincial crown land, with mineral rights administered by the
About
VR is an established junior exploration company focused on greenfields opportunities in copper, gold and critical metals (TSX.V: VRR;
The Company continues its normal course of business in 2022 within the framework of modified exploration programs in response to the COVID-19 pandemic, with the goal of ensuring the health and safety of staff and project personnel.
Contact:
Website: www.vrr.ca
Email: info@vrr.ca
Phone: 604-262-1104
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 those which, by their nature, refer to future events. Forward looking statements in this release include those related to the companies upcoming plans, such as 'We will comment on the potential significance of the overall more intense and more extensive breccias intersected in this third drill program fro REE and critical metal concentrations as geochemical assays become available', and 'VR evaluates new opportunities on an ongoing basis, whether by staking or acquisition.'
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