(via TheNewswire)
Figure 1. Location of the new Northway properties relative to local, provincial and national infrastructure.
The Northway strategy is now district-scale. VR now owns 1,567 claims in 16 separate claim blocks covering a total of 32,238 ha. All of the claims are owned 100% by VR. The strategy is expanded based on the three reconnaissance drill holes completed into the diatreme breccia pipe complex at Northway, most importantly:
Composition. The breccia is consistent with a kimberlitic diatreme sourced in a diamond-stable region of the upper mantle based on the composition of numerous different minerals, including high-Mg chromite, phlogopite and richterite, and;
Diamonds. There is evidence for diamond fertility, with clear, inclusion free and transparent fragments of larger diamonds in three different intervals within the breccia pipe complex.
VR began to stake and/or acquire claims covering magnetic anomalies around Northway in December, 2022. Based on the results from Northway, the anomalies almost certainly represent a new and previously unexplored field of kimberlite pipes in the northern Superior Craton in northern
Figure 2. Location is important. It facilitates cost-effective exploration at Northway and the surrounding targets, and it provides important infrastructure necessary for any potential development in the future:
All of the properties are proximal to the active Ontario Northern railroad servicing northern
Ontario ; Northway itself is just 11 km to the west of the line;Exploration can be based out of Otter Rapids, a hydroelectric facility on the provincial grid, with road access from
Highway 634 ;The properties are at, or near the southern extent of the Paleozoic Hudson carbonate shelf, lessening the amount of sedimentary cover on top of inferred pipes as compared to farther north.
From VR’s CEO, Dr.
The permitting process for our various exploration projects in the region with the
Technical Information
Summary technical and geological information for the Company’s various exploration properties is available at the Company’s website atwww.vrr.ca.
VR submits sawn drill core to the
Technical information for this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101.
About the Northway Property and Project
The Northway property is located in northern
Exploration is based out of a camp at the hydroelectric facility at Otter Rapids located about 50 km to the southeast of Northway.
The nearest town is
The Northway property is large; it nowconsists of 1,367 contiguous claims in a single block 4 x 7 km in size covering 28,129 ha. Also, there are 200 additional claims covering an array of magnetic anomalies in 15 separate properties around Northway and proximal to the ONR railway line. The district-scale package now comprises1,567 claims in total in 16 separate claim blocks covering a total of 32,238 ha within an area of 50 x 70 km overall.
All of the properties are owned 100% by VR. There are no underlying payments or interests, and certain claims retain a royalty to the vendor.
Northway is located on crown land in northern
About
VR is an established junior exploration company based in
ON BEHALF OF THE BOARD OFDIRECTORS:
“Michael H. Gunning”
____________________________
Dr.
President & CEO
For general information please use the following:
Website:www.vrr.ca
Email:info@vrr.ca
Phone: 778-731-9292
Forward Looking Statements
This news release contains statements that constitute "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this document include statements concerningVR’sexpectations concerning theHecla-Kilmer property and all other statements that are not statements of historical fact.
Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
This news release may also contain statements and/or information with respect to mineral properties and/or deposits which are adjacent to and/or potentially similar to the Company’s mineral properties, but which theCompany has no interest in nor rights to explore. Readers are cautioned that mineral deposits on similar properties are not necessarily indicative of mineral deposits on the Company’s properties.
Trading in the securities of the Company should be considered highly speculative. All of the Company’s public disclosure filings may be accessed viawww.sedarplus.caand readers are urged to review them.
Neither the
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Figure 1. Location of the Northway group of claims relative to local, provincial and national infrastructure in northern
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Figure 2. Location of the Northway group of claims relative to local infrastructure at Otter rapids in northern
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