Business
Drilling is Underway at VR’s Ranoke Copper-Gold Property in Ontario
VANCOUVER, British Columbia, Oct. 31, 2019 (GLOBE NEWSWIRE) -- VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCBB: VRRCF), the "Company", or “VR”, is pleased to ann
About this update from Vr Resources Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, Oct. 31, 2019 (GLOBE NEWSWIRE) -- VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCBB: VRRCF), the \"Company\", or “VR”, is pleased to announce that the first-pass drill program at its Ranoke copper-gold property in northern Ontario is now underway. From VR’s CEO Dr. Michael H. Gunning “The Company has been working on Ranoke continuously for nearly a year, the target is both large and clearly defined from an integration across numerous surveys, and we are now ready to drill. With funds in hand from the recently completed financing, the Company will commence first-pass drilling before the winter freeze-up, providing easier access to water required for drilling. The Company has identified approximately a dozen drill sites for a first-pass evaluation of the copper gold breccia pipe target at Ranoke, and this initial program planned for three holes should take approximately 3 weeks to complete. To understand the upside potential of Ranoke, one simply needs to appreciate the scale of the target as defined by our data. We will drill-test Ranoke with a balance of conviction and discipline, and we look forward to providing further updates as our drilling proceeds.” Figure 1. Figure 1 shows the location of eleven drill sites designed to test different combinations of magnetic, density and IP chargeability attributes within the large, complex, integrated copper-gold breccia target at Ranoke. The property is centered on a 12 km magnetic anomaly located along the western margin of the Kapuskasing structural zone which transects the Archean Superior craton in northern Ontario. The magnetic anomaly at Ranoke cross-cuts and/or disrupts regional basement fabrics. A 2.5 mGal gravity anomaly approximately 4 kms across within the magnetic complex at Ranoke delineates the target for a high-density iron oxide breccia body. An integrated high chargeability – high resistivity anomaly approximately 1.1 kms across within the gravity anomaly is the main target for copper sulfide within the high-density breccia target. Figure 2. Figure 2 shows the initial three drill holes planned for the current fall drill program on stacked geophysical profiles. Hole lengths will be determined based on results, and are expected to be between 500 and 1,000 metres. Overall, the three...