VANCOUVER, British Columbia, Nov. 29, 2022 (GLOBE NEWSWIRE) — VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCQB: VRRCF), the “Company“, Where “VR“, is pleased to report the receipt of additional geochemical data that augments the PMREO(3) content of high-grade rare earth element mineralization intersected in HK22-013 at its Hecla-Kilmer (“HK”) critical metals project located in northern Ontario.
The hole 13 intersection, originally reported on July 21st2022 in NR-22-08, is now reported as:
- 243m @ 1.02% TREO(1), whose 21% are PMREOsin 287m @ 0.90% TREO, from surface and continues to the end of the hole, and including: **
- 66.61m at 1.57% TREOfrom 155 m deep and including:
- 39m @ 2.04% TREO from 155 m.
- 66.61m at 1.57% TREOfrom 155 m deep and including:
- The 66.6m @ 1.57% TREO is made of 20.7% REO magnet (Nd, Pr, Dy, Tb);
- The 39m interval @ 2.04% TREO contains 15.71%P2O5.
Hole HK22-13 ended with high grade mineralization: 15m @ 2.22% TREO with 21.3% PMREO. High grade mineralization is open beyond the end of the hole at 330m. Thus, the hole was extended in the recent drill program and hole HK22-013ext was completed at 504m (see Figure 1). Data is pending.
Picture 1. Example of high-grade rare earth mineralization in drill core from hole 13.
Picture 2. Core photo and QEMSCAN image showing REE mineralogy of the mineralization immediately below and adjacent to the drill hole 13 drillpipe.
Explanation
VR uses lithium-borate fusion analysis at ALS Laboratories to optimize detection of the full suite of rare earth elements for its Hecla-Kilmer drill core samples, in addition to standard ICP-MS analysis and ICP-AES for base metals and trace elements, and gold assay by atomic absorption. If a sample exceeds 10,000 ppm Ce (cerium) or 1,000 ppm Pr (praseodymium), it is rerun using a higher instrument calibration to maximize the accuracy of mineralization data at high content. A total of 34 samples from hole 22-13 exceeded the upper limit, and therefore the entire 66.61 meter intersection was re-assayed with the higher instrument calibration, resulting in the results reported today. today.
Figure 1 shows the strong correlation between all of the individual permanent magnet rare earth elements in the TREO mineralization at Hecla-Kilmer. Additionally, the correlation between TREO and P2O5 in the data is exceptionally high, which is consistent with the phosphate minerals monazite and apatite identified by QEMSCAN as key mineral hosts of REEs at Hecla-Kilmer, as shown in Photo 2. This mineralogy is aligned with REE’s only mining facility in Canada, which just opened in Saskatoon and focuses on monazite.
Comment on significance
The new data reported for hole 13 demonstrates a Overall increase of 2% of the PMREO at Hecla-Kilmer, primarily due to previous under-reporting of praseodymiumone of four high demand rare earth oxides used in permanent magnets (the “PMREO”).
PMREOs are more important in global markets because they are essential in the manufacture of motors for electric vehicles and wind turbines, critical components of the emerging green economy. The high price of the four PMREOs partly reflects constraints on demand due to the global monopoly controlled by China.
These new data only re-emphasize that the polymetallic mineralization at Hecla-Kilmer rivals the best of breed RSP deposits. The proportion of TREO as PMREO, especially praseodymium, neodymium and terbium, is higher at Hecla-Kilmer than at the existing REE carbonatite mines of Bayan Obo (largest) and Mountain Pass (highest grade). ).
Next steps
The discovery has progressed steadily since mineralization was first intersected at surface in Hole 4 during the first reconnaissance program in October 2020. Since then VR has expanded geochemical techniques to include fusion analysis lithium borate to optimize detection of all REEs and used QEMSCAN thin section analysis to characterize REE mineralogy. Go forward :
- VR selected other high-quality REE samples throughout the property for scanning electron microprobe (SEM) research to determine exactly which minerals host the high-value magnetic rare earth elements. The first results are expected by the end of the year and work will continue until 2023;
- VR initiated the scope of a metallurgical test/mining study using a bulk sample of core from a drill hole with a broad intersection of mineralization beginning at surface. This work is planned for the first half of 2023, utilizing the world-class REE expertise of SGS Laboratories in Ontario.
The strength of the discovery at Hecla-Kilmer is the scale, i.e. the sheer lateral width of the hydrothermal breccia system and high temperature potassic alteration, and the vertical extent of the intersected REE mineralization. in the drill core and from the surface. The plan map in Figure 2 provides the illustration: there are now intersections with >1% TREO in 11 of the first 17 boreholes completed on the project, and they extend approximately 2.5 km through the complex.
The path to advancing this discovery is bolstered by its location, just 23 km west of the provincial hydroelectric dam at Otter Rapids, with supporting and active infrastructure from the Northern Ontario Railway and off highway 634.
Technical informations
Summary technical and geological information on the Company’s various exploration properties is available on the Company’s website at www.vrr.ca.
VR submits sawn drill core samples for geochemical analysis to ALS Global Ltd. laboratory facilities. (“ALS”) in Timmins, Ontario, and final geochemical analytical work is performed at ALS’ laboratory located in North Vancouver, British Columbia, including lithium borate fusion, ICP-MS and ICP-AES for base metals, trace elements and full REE analysis, and gold determination by atomic absorption in fire assay. Assay results are subject to industry standards and NI 43-101 compliant QAQC sampling procedures, including routine insertion of duplicate samples and geochemical standards performed both externally on the project site by the Company and internally in the laboratory by ALS, as described by SLA.
The technical information in this press release has been prepared in accordance with the Canadian regulatory requirements set forth in National Instrument 43-101. Justin Daley, P.Geo., VP Exploration and a non-independent qualified person oversees all aspects of the Company’s mineral exploration projects, and the content of this press release has been reviewed on behalf of the Company by the CEO, Dr. Michael Gunning, P.Geo., a non-independent qualified person.
**
(1) HANG is the sum of Ce2O3 + La2O3 + Pr2O3 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb2O3 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3.
(2) PMREO is the sum of high-value rare earth oxides used in permanent magnet motors and turbines used in electric vehicles and wind turbines (Pr2O3 + Nd203 + Tb2O3 + Dy2O3). The % Magnet REO column is this PMREO sum divided by TREO, and expressed as a percentage.
About the Hecla-Kilmer property
The Hecla-Kilmer complex is located 23 km northwest of Ontario’s Otter Rapids hydroelectric generating station, the Ontario Northland Railway and the northern terminus of Highway 634 which connects the area to the towns of Cochrane and Kapuskasing in south, itself located on the northern Trans-Canada Highway.
HK property is big. It consists of 224 mining claims in a contiguous block of approximately 6 x 7 km and covering 4,617 hectares. The property is 100% owned by VR. There are no underlying annual lease payments on the property, nor any joint venture or return interest. Hecla-Kilmer is located on provincial Crown land, the mineral rights of which are administered by the Ontario Ministry of Northern Development, Mines, Natural Resources and Forestry (“MNDF”). There are no annual payments, but MNDM requires certain annual exploration expenditures and reports. The property is part of the traditional territories of the Moose Cree and Taykwa Tagamou First Nations.
About VR Resources
VR is an established junior exploration company focused on new deposit opportunities in critical metals, copper and gold (TSX.V: VRR; Frankfurt: 5VR; OTCQB: VRRCF). VR is the continuation of 4 years of active exploration in Nevada by a private company based in Vancouver. The foundation of VR is the diverse experience and proven track record of its Board of Directors in exploration, discovery and early-stage mergers and acquisitions. The Company is well funded for its exploration strategies and corporate obligations, and is focused on underexplored, large-footprint mining systems in the western United States and Canada. VR owns its properties and is constantly evaluating new opportunities, whether through staking or acquisition.
ON BEHALF OF THE BOARD OF DIRECTORS:
“Michael H. Gunning”
____________________________
Dr. Michael H. Gunning, PhD, PGeo
President and CEO
For general information, please use the following:
Forward-looking statements
This press release contains forward-looking statements. Forward-looking statements are generally identified by words such as: believe, expect, anticipate, intend, estimate, assume and similar expressions or those which by their nature refer to future events. Forward-looking statements in this release include those related to the companies’ future plans, such as “we expect to receive data in the coming months of December and January” and “virtual reality is continually evaluating new opportunities, whether either by staking or by acquisition”.
This press release contains statements and/or information regarding mineral properties and/or deposits that are adjacent to and/or potentially similar to the Company’s mineral properties, but which the Company has no interest or right to explore. . Readers are cautioned that mineral deposits on similar properties are not necessarily indicative of mineral deposits on the Company’s properties.
Although the Company believes that the use of these statements is reasonable, there can be no assurance that these statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in these statements. The Company cautions investors that the Company’s forward-looking statements are not guarantees of future performance and that actual results may differ materially from those in the forward-looking statements. Trading in the Company’s securities should be considered highly speculative. All of the Company’s public disclosure documents are accessible via www.sedar.com and readers are encouraged to consult these documents.
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