DRILLING UPDATE AT VR’S RANOKE COPPER-GOLD PROPERTY IN ONTARIO - Seite 2

The north-trending fault shown on Figure 1 which forms the western boundary of the Ranoke complex is evident on all inversion and derivative products from both the gravity and magnetic surveys.  Holes 4 and 5 will test the possibility for structurally-controlled mineralization at Ranoke along this fault. 

The east-west fault shown on Figure 1 is based on the disruption of the otherwise coherent, high intensity gravity anomaly.  Hole 1 completed in November and located near the fault intersected numerous specularite veins, and iron carbonate breccia zones and potassium alteration (see news release dated Nov. 4, 2019); Holes 6 and 7 will follow this up and test the center of the magnetic low coincident with the eastern arm of the gravity anomaly for mineralization related to this structure.

Ranoke has never been drilled.  The goal of this first pass drill program is unchanged: to fully test the centers of the IP, gravity and magnetic geophysical anomalies, and coincident soil gas geochemical anomalies, for copper and gold hosted in a large-scale, hydrothermal iron oxide breccia body or carbonatite intrusion emplaced into older Archean gneiss along the western margin of the Kapuskasing structural zone which bisects the Archean Superior craton, and has a long-lived history of mafic and carbonatite intrusions and kimberlitic diatremes which collectively span nearly 1.6 billion years of activity.

The Company will report any material geochemistry when the program is complete and data are in hand from all of the drill holes. 

The helicopter-assisted drilling at Ranoke is based out of a road-accessible trailer camp located at the near-by Ontario Power Generation hydro-electric facility at Otter Rapids.

About the Ranoke Property

The Ranoke property is located in northern Ontario, Canada.  Infrastructure in the region is shown on location figures provided at the Company’s website at www.vrr.ca.  The property is 15 kilometers west of the CNR railway spur which supplies Moosonee located on tide water 100 kilometres to the northeast, and is 25 kilometres north of road access to Otter Rapids, an Ontario hydro-electric facility serviced by Highway 634.  Exploration at Ranoke is facilitated by the town of Cochrane which is located about 100 kilometres to the south on the Trans Canada Highway, and is the major service hub to the region.