VR identifies 3.5 mGal gravity anomaly at its Hecla-Kilmer property in Northern Ontario, and planning is now underway for Phase II follow-up drilling in September - Seite 2

The new gravity anomaly is also believed to be the source of the gold grains and copper-gold mineralization in sulfide in iron oxide breccia shown in Photo 2, taken of drill core rubble obtained in the field from the historic camp site of the cursory drill campaign at H-K in 1970, for which only six holes were completed, all < 150m in length, and none assayed. Importantly, however, with regard to the source of the core rubble in Photo 2, two of the drill holes were located on the northern and southern margin of the new gravity anomaly, respectively, as shown in Figure 2.

Phase II drilling in September

Drilling planned for the upcoming fall season in 2021 will pursue the obvious vectors shown in Figure 2, testing the center of new gravity anomaly for the heart of a large IOCG mineral system. The gravity anomaly can be tested, for the most-part, from drill sites identified on the Company’s existing MENDM drill permit, and further, from the actual drill pads for Holes HK20-002 and 004 completed last year.

Summary of the Gravity Survey; Figure 3.

The gravity survey is detailed (Figure 3). It covers an area of approximately 1.5 x 3.5 km’s, with 597 stations completed in total; 573 on an equant grid station spacing of 100 metres, and 24 done on a 50 m infill pattern covering the main anomaly after it had been outlined by completion of the main grid.

Overall, the survey was designed to cover the main RTP magnetic boundaries within the large and concentrically zoned, 4 x 6 km multi-phase carbonatite complex at H-K, and to cover the main MVI anomaly derived from the 3D inversion completed by VR in 2020 of the 1993 airborne magnetic data. Figure 1 shows the strong correlation between the magnetic survey and the new gravity data:

• The large gravity low in blue in the southern part of the survey grid shown in Figure 1 correlates with the magnetic low shown in Figure 3 and associated with the large syenite body that forms the core of the multi-phase and concentrically zoned carbonatite complex at H-K.
  
  
• The large gravity high in Figure 1, the pink anomaly, is directly coincident with the 3D magnetic inversion anomaly (“MVI”) in the northern part of the complex (see 3D model in NR dated September 24, 2020). The MVI anomalies at H-K are attributed to the formation and/or destruction of magnetite during hydrothermal alteration and brecciation which occurred along the margins of the large syenite body that forms the core of the H-K complex.