VANCOUVER, British Columbia, Feb. 05, 2019 (GLOBE NEWSWIRE) -- VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCBB: VRRCF), the "Company", or “VR”, is pleased to announce its acquisition through staking of the Clipper gold-silver property, on trend with its Danbo and Amsel properties in the Walker Lane belt of west-central Nevada. This acquisition expands the Company’s exploration strategy at Danbo to encompass a district-scale structure and epithermal gold system.
First-pass mapping and sampling at Clipper has revealed a widespread system of gold-silver epithermal quartz veins and silicified zones on trend with those at Danbo, located 5 kilometres to the northwest, along trend (Figure 2). Like Danbo, Clipper hosts a series of parallel vein systems across a width of 1.2 – 1.5 kilometres (Figure 3). From 28 surface grab samples collected during mapping this summer, ten exceed 1 g/t gold, with values of up to 12.8 g/t gold in vein outcrops, and up to 58.3 g/t gold and 809 g/t silver in samples from around historic workings which are scattered across the Clipper property. Anecdotal documentation by the Nevada Bureau of Mines of artisanal production from the Clipper mine reports grades of up to 15 oz/ton gold-equivalent (514 g/t).
The staking of the Clipper Property is the result of a regional exploration initiative conducted by VR through the summer of 2018, along a newly identified structural corridor parallel to the northern margin of the Walker Lane belt (Figure 1). The northwest-southeast trending structural corridor cuts a Tertiary rhyolite volcanic center named the Big Ten caldera, and the Clipper, Danbo and Amsel gold systems all occur near fault offsets or fault intersections within the corridor. The Round Mountain (16 M oz gold) and Manhattan (800,000 oz gold) epithermal gold systems occur in similarly aged rhyolite caldera centers immediately to the northwest. Further, the low-sulfidation character of the hydrothermal system at Big Ten is comparable to that at Round Mountain.
Common elements at the Company’s Amsel, Danbo and Clipper properties strengthen the Big Ten structural and mineral trend. Quartz veins are subvertical and northwesterly striking, parallel to the Big Ten trend itself. Sulfide is present in gold-bearing veins (Photo 1), but Danbo and Clipper represent a low-sulfidation system overall. Quartz veins are commonly spatially associated with silicified ribs at Clipper (Photo 2), and within a broader topographic knob of bleached and silicified rhyolite tuff at Amsel.
Commenting on the news today, VR’s CEO Dr. Gunning stated: “While the Clipper property has stand-alone potential based on the number of gold-bearing veins and the overall dimensions of the quartz vein system, it also serves to confirm a district-scale ‘Big Ten’ strategy and exploration model going forward. Concurrent exploration at all three properties and throughout the trend will benefit from shared synergies and leveraged learning; overall, the Company will have the ability to evaluate and prioritize the most fertile parts of a structural corridor and mineral trend more than ten kilometres long of gold-bearing quartz veins. The size of the nearby Round Mountain epithermal gold system underscores the relevance of the potential of the Big Ten corridor, based on their similar ages, setting and chemistry.”
Drill permitting at Danbo progressed in 2018. Planned drill hole locations are straightforward based both on the surface location of gold-bearing veins, and nearby existing historic mine roads. The Company has initiated planning for a early spring biology survey, a final step in permitting, and continues to plan for a first pass drill program in 2019.
The Clipper property comprises 17 claims covering 328 acres (132 ha), located approximately 4 km southeast along trend from the Danbo property. Like Danbo, exploration is cost-effective at Clipper via highway access from US Route 6, and historic mining roads on the property.
Please see the Company’s website at www.vrr.ca for more complete information on the Big Ten epithermal gold project, comprising the Clipper, Danbo and Amsel properties.
Surface grab samples for geochemistry are submitted to the ALS Global ("ALS") laboratory facilities 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: while the Clipper property has stand-alone potential, and; the Company continues to plan for a first pass drill program in 2019.
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