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VR Resources Ltd
Symbol VRR
Shares Issued 125,043,467
Close 2024-12-17 C$ 0.07
Market Cap C$ 8,753,043
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VR Resources completes phase 1 drilling at Empire

2024-12-17 16:41 ET - News Release

Mr. Justin Daley reports

VR RESOURCES COMPLETES PHASE 1 DRILLING AT EMPIRE PROJECT IN ONTARIO

VR Resources Ltd. has completed the phase 1, reconnaissance drill program on the one-by-two-kilometre magnetic anomaly at Westwood, part of the Empire district project in Northwestern Ontario.

Five holes were completed for a total of 1,188 metres. Drilling targeted the center of the copper-gold-PGE (platinum group element) mineral system exposed on surface at the showing on the Trans Canada Highway, at the southwestern margin of the magnetic high anomaly.

Hole 5, WW24-005, was completed to 201 metres. It was drilled as a follow up to the shallowly inclined hole 4 that collared into the target rock unit: a coarse-grained, cumulate-textured mafic-ultramafic intrusive. Hole 5 was drilled at the same azimuth as 004 but inclined more steeply to intersect more of the cumulate-textured mafic rock dipping steeply to the southeast, and to target the centre of the 18 mV/V (millivolt/volt) chargeability anomaly. Example of the cumulate texture mafic-ultramafic rock with variable interstitial sulfide in both holes 4 and 5 is shown in a photo in the original version of this news release.

Initial summary. Drill holes about 800 m apart, on both sides of the Westwood magnetic anomaly, have intersected the company's target: cumulate-texture mafic rock with sulphide. Second. The drilling confirms that the Westwood magnetic anomaly is a polyphase intrusive complex. It includes: a light-coloured leucogabbro that dominates the outer zones and spans more than 2.5 km of exposure along the highway transect; zones of dark mafic magma mixing increase steadily toward the magnetic anomaly, and; a core of steeply southeast-dipping mafic-ultramafic units.

From VR's chief executive officer, Justin Daley: "With drilling complete on the phase 1 reconnaissance program on our Westwood target at Empire, we are pleased that a consistent story has emerged as we methodically tested each of the chargeability targets from the recent IP survey and their relationship with different geophysical features from the magnetic and DIGEM surveys. The geology across the large intrusive complex is also proving to be consistent, showing the same zonations, timing relationships and intrusive contacts across the five holes drilled so far. The polyphase nature of Westwood is an important development if one appreciates the complexities of the Cu-Au-PGE mineralization at the Lac des Iles complex to the east.

"We look forward to providing updates as we receive assay results and update our 3-D model with geochemistry, lithologic observations and structural measurements."

About the Empire project

The Empire project consists of 313 mineral claims in one contiguous block covering 10,254 hectares. The project is located on federal Crown land, with mineral rights administered by the Ontario Ministry of Mines. There is a 2-per-cent net smelter royalty on the claims. There are no annual payments, but the ministry requires certain annual exploration expenditures and reporting (that is, mineral assessment reports) in order to maintain a mineral claim in good standing. The project falls within the Lac de Mille Lacs First Nation traditional territories.

Technical information

Surface grab samples and drill core samples were submitted for geochemical analysis to the Agat laboratory in Thunder Bay, Ont. Drill core was logged, cut and sampled at the Holbik Exploration warehouse in Upsala, Ont., with sample preparation completed by Agat in Thunder Bay alongside gold and PGE determination by atomic absorption assay. ICP-MS analyses for base metals, whole rock and trace elements are performed at Agat's laboratory in Calgary, Alta. Analytical results are subject to industry-standard and National Instrument 43-101-compliant quality assurance/quality control sample procedures, including the systematic insertion of sample duplicates, blanks and certified reference material (CRM) done both externally and internally at the laboratory by Agat, as described by Agat.

Technical information for this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. The content of this news release has been reviewed on behalf of the company by Justin Daley, MSc, PGeo, president and chief executive officer at VR, and a non-independent qualified person, who oversees and/or participates in all aspects of the company's mineral exploration projects.

About VR Resources Ltd.

VR is an established junior exploration company based in Vancouver. VR evaluates, explores and advances opportunities in copper, gold and critical metals in Nevada, United States, and Ontario, Canada. VR applies modern exploration technologies, in-house experience, and expertise in greenfield exploration to large-footprint systems in underexplored areas/districts. The foundation of VR is the proven record of its board in early-stage exploration, discovery, and M&A (mergers and acquisitions). The company is financed for its mineral exploration and corporate obligations. VR owns its projects outright and evaluates new opportunities on a continuing basis, whether by staking or acquisition.

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