VANCOUVER, British Columbia, May 08, 2019 (GLOBE NEWSWIRE) -- VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCBB: VRRCF), the "Company", or “VR”, is pleased to announce it has staked additional properties to expand its holdings along the Big Ten Tertiary epithermal gold trend in the Walker Lane belt of west-central Nevada. This staking builds upon the recently announced staking of the Clipper property in the southern part of the trend (see NR dated February 5, 2019).
Figure 1. The Big Ten Tertiary volcanic caldera is along the eastern margin of the Walker Lane belt, host to numerous Cenozoic-aged gold and silver deposits in western Nevada. Big Ten is located immediately to the southeast of the Round Mountain and Manhattan epithermal gold systems which occur in similarly aged rhyolite volcanic centers and contain 16 M oz and 800,000 oz of gold respectively. The low-sulfidation character of the hydrothermal system at Big Ten is also comparable to that at Round Mountain.
Figure 2. The Company now owns seven properties along the 20 km length of the Big Ten mineral trend. The properties comprise 75 claims in total, covering 1,526 acres. The staking of the new properties is the result of reconnaissance surface exploration by VR through the summer and fall of 2018, integrated with results from a concurrent, high resolution airborne magnetic and radiometric survey, and airborne hyperspectral survey used to map alteration minerals. The integrated results of the various surveys define a structural corridor and mineral trend 20 km’s long which transects the entire Big Ten caldera, and is parallel to the eastern margin of the Walker Lane belt. From northwest to southeast along the trend, property highlights include:
|Hat Peak: ||4 new claims staked, 83 acres; large sericite/pyrite alteration halo; surface gold geochemistry; possible large-scale porphyry root.|
|Kano: ||3 new claims staked, 62 acres; distinct hyperspectral anomaly occurring on USGS mapped rhyolite intrusive; surface gold geochemistry.|
|Fisher: ||4 new claims staked, 83 acres; historic gold production in volcanic mega-breccia (caldera rim).|
|Amsel:||18 new claims staked expanding property to 24 claims, 496 acres; extensive 3 x 2 km silica-adularia alteration in tuff with co-spatial gold-arsenic soil anomaly; potential for a large tonnage Round Mtn. analogue below a silicified cap.|
|Danbo: ||21 claims, 2016 acquisition, 434 acres; gold at surface in 3 quartz vein sets with 1.3 km strike.|
|Clipper:||17 claims, 2018 staking, 328 acres; gold at surface in multiple quartz vein sets across 1.5 km width.|
|Little Joe: ||2 new claims staked, 41 acres; southern extension of gold-bearing quartz veins at Danbo & Clipper.|
Please see the Company’s website at www.vrr.ca for more complete information on the Big Ten epithermal gold project, including plan maps with gold-silver assays from surface grab samples, and photographs of epithermal textures in sulfide-bearing quartz veins at the Danbo and Clipper properties.
VR’s CEO Dr. Michael H. Gunning reiterated that “VR’s land position on the Big Ten trend affords the unusual opportunity to explore and evaluate a complete epithermal gold system, both laterally and vertically. There is ample evidence for focused alteration and gold and silver mineralization along the entire 20 km length of the controlling structure. The Big Ten volcanic center is clearly fertile for gold, and its potential is underscored by the gold endowment of the next volcanic center to the north at Round Mountain. Modern exploration tools and current mineral deposit models for the Walker Lane Belt will make for effective exploration at Big Ten, and we look forward to advancing strategies and providing further updates.”
Summary technical and geological information on the Company’s various properties is available at the Company’s website at www.vrr.ca.
VR submits all surface grab samples and/or drill core samples collect for geochemical analysis to the ALS Global (‘ALS”) laboratory in Reno, Nevada. Analytical work is completed at the ALS laboratories located in Vancouver, BC., including ICP-MS analyses for base metals and trace elements, and gold determination by atomic absorption assay. Analytical results are subject to industry-standard and NI 43-101 compliant QAQC sample procedures at the laboratory, as described by ALS.
Technical information for this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Justin Daley, P.Geo., Principal Geologist at VR and a non-independent Qualified Person oversees and/or participates in all aspects of the Company’s mineral exploration projects. The content of this news release has been reviewed on behalf of the Company by the CEO, Dr. Michael Gunning, P.Geo., a non-independent Qualified Person.
About VR Resources
VR is an emerging junior exploration company focused on greenfields opportunities in copper and gold (TSX.V: VRR; Frankfurt: 5VR; OTCBB: VRRCF). 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 exploring large copper-gold mineral systems 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 its exploration strategy. VR owns its properties outright, and evaluates new opportunities on an ongoing basis, whether by staking or acquisition.
ON BEHALF OF THE BOARD OF DIRECTORS:
“Michael H. Gunning”
Dr. Michael H. Gunning, PhD, PGeo
President & CEO
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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, 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: “VR’s land position on the Big Ten trend affords the unusual opportunity to explore and evaluate a complete epithermal gold system,” and “potential is underscored by the gold endowment of the next volcanic center to the north at Round Mountain.”
Although the Company believes that the use of such statements are 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 are available at www.sedar.com; 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.
Figure 1. Regional setting for the Big Ten epithermal gold project located in the western part of the Walker Lane belt in west-central Nevada.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/9d6f9c56-f475-4398-b073-cfde90d7af22
Figure 2. Location of the various properties owned by VR in the Big Ten epithermal gold trend, Nye County, Nevada.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/776e781b-2159-4108-9791-f895c0c35b97
Figure 3. View to the northwest along the Big Ten trend, from the hill-top of quartz-adularia alteration in rhyolite tuff at the Amsel property, with the Kano and Hat Peak properties in the background.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/602456c3-a7cc-4708-bee4-4d1942b850c0