VR discovers Lithium – REE mineralization at Hecla-Kilmer copper-gold project in northern Ontario, stakes new properties and commences gravity survey

VANCOUVER, British Columbia, March 11, 2021 (GLOBE NEWSWIRE) -- VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCQB: VRRCF), the "Company", or “VR”, is pleased to provide an update on compiled and integrated geochemical data from the recent four-hole reconnaissance drill program completed late in 2020 at its Hecla-Kilmer carbonatite property and copper-gold breccia target in northern Ontario (“H-K”). Results include:

• A broad intersection of lithium mineralization discovered in drill hole HK20-002;
• Broad intersections of critical minerals, niobium-thorium-REE (rare earth elements), discovered in drill holes HK20-002 and 004, with corresponding high density profiles confirmed in XRF scanning;
• Detailed ground-based gravity survey is now underway to identify potential high density anomalies related to either copper-sulfide mineralization, and/or niobium-REE concentrations (Figure 1).
  

Context

As described in the previous news release dated December 17^th, 2020, fluorite-rich hydrothermal breccia and iron sulfides were intersected within a high temperature, potassic alteration system which comes to surface and has more than 600 m of continuous vertical extent in two drill holes, HK20-002 and 004. The Company has now received, integrated and interpreted all geochemical assay data and XRF mineral scanning data obtained from the four holes totalling 1,971 metres completed last fall.

Key Results

• Chalcopyrite mineralization is confirmed in veinlets and scattered semi-solid sulfide replacement zones within hydrothermal breccia, with 1m assays of up to 0.12% (1240 ppm) (Photo 1). It occurs with hematite, magnetite, pyrite and apatite in zones of intense fenitization (potassic alteration) around and within phonolite dykes which are themselves elevated in gold, with 15-184 ppb gold over several + 40 metre intervals in drill hole HK20-002. A high density profile of 3.46 g/cm³ is confirmed by XRF specific gravity scanning across the zone of copper mineralization.
  

Complete geochemical and XRF (X-ray diffraction) analytical datasets demonstrate two significant new aspects to the mineral system at H-K:

• Intersections of critical mineral and REE mineralization span 49 metres starting at 50 m depth in HK20-004 and more than 20 metres at 574m depth in HK20-002 (Figure 2). They contain:
  • Up to 0.56 % combined La₂O₃, Ce₂O₃, and Y₂O₃ ;
  • Elevated thorium up to 0.15 % ThO₂ ;
  • Anomalous niobium up to 0.13 % Nb₂O₅ ;
  • As much as 33.7 ppm terbium, a heavy REE.