VR Resources Closes Hecla-Kilmer Acquisition in Ontario And Commences Copper-Gold Exploration Immediately

VANCOUVER, British Columbia, June 18, 2020 (GLOBE NEWSWIRE) -- VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCBB: VRRCF), the "Company", or “VR”, is pleased to announce that it has successfully Closed the recently announced Acquisition Agreement for the Hecla-Kilmer property (“HK”) in northern Ontario (see terms in previous News Release dated June 15, 2020), and plans to commence exploration on the property immediately.

Hecla-Kilmer is a kilometre-scale, polyphase alkaline intrusive complex with carbonatite. There has been no previous exploration or drilling for a copper-gold hydrothermal breccia system. The opportunity for VR is to apply modern IOCG and carbonatite mineral deposit models and exploration technologies to HK for the first time, ever.

A regional base-metal exploration program in 1971 included 5 shallow drill holes at HK. Drill core rubble was retrieved from the bush by the property vendors in 2012, 2014 and 2019, cleaned, and studied at the Microlithics Lab in Thunder Bay, Ontario. VR recently reviewed the core and historic data and provides the following drill core photos and geophysical maps to illustrate the untested potential for a copper-gold hydrothermal breccia deposit:

Figure 1.	Proven magnetite-copper-gold-fluorite association.
	a)   Pyrite and chalcopyrite veins within massive magnetite and fluorite hydrothermal replacement;
	b)   gold grains in pan concentrates from drill core rubble residues;
	c)   Fluorite veins, and fluorite-magnetite-carbonate breccia, with disseminated chalcopyrite locally.
Figure 2.	Regional-scale structure. Both the Ranoke and HK properties are centered on large magnetic anomalies associated with large gravity features located along the western margin of the Kapuskasing Structural Zone, a deeply seated and long-lived crustal-scale fault zone which bisects the Archean Superior craton and hosts numerous alkaline, ultrabasic and carbonatite intrusions and kimberlites which span more than one billion years of intrusive history.
Figure 3.	Large-scale magnetic anomaly. A high-resolution airborne magnetic survey was completed in the region for diamond exploration in 1993, well after the historic drilling at HK. The survey shows that HK is a concentrically zoned, high contrast magnetic anomaly 4 – 6 km’s across. Magnetic boundaries within the complex are sharply defined on 1VD and 2VD magnetic products. The historic drilling in 1971 pre-dated this high-resolution survey, and all five holes were located in the outer concentric zones of the complex.