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VR Resources Ltd.

Company Data | Introduction | Projects in Hand | Management
News Update
| Chinese

Address :  Suite 2300 – 1177 West Hastings Street
Vancouver, BC
Canada V6E 2K3
Tel No.: (604) 262-1104
Fax No.: (604) 648-8809
Web Site: www.vrr.ca
E-mail: info@vrr.ca
Contact Person: Dr. Michael H. Gunning
Position: President & CEO


Company Data

Traded Market: TSX-V
Traded Symbol: VRR
Outstanding Shares: 92,213,591
Public Float: 76,877,997
52 Week High: $ 0.425
52 Week Low: $ 0.16
Present Price: Click Here


Corporate Highlights

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VR Resources is an emerging junior exploration companyfocused on greenfields opportunities in copper and gold in the western United States and Canada.VRis the continuation of four years of active copper exploration in Nevada as a private company.

  • Management has a strong track record in both exploration discovery and M&A;
  • Tight share structure and substantial insider commitment;
  • Well financed for both active exploration and ongoing evaluation of new opportunities;
  • Discovery-based value creation by innovation in greenfields exploration technology;
  • Properties are owned 100% to leverage the upside of discovery;
  • Properties have strong infrastructure for cost-effective exploration;
  • Working in jurisdictions with a proven history of stability and support for mining.


Core Assets

VR is currently focused on 3 core projects amongst a portfolio of 7 properties in Nevada and Ontario:

Big Ten Gold Project, Nevada

  • The Big Ten project is located along the northern margin of the world-class Walker Lane epithermal gold-silver belt. It occurs in an extensional, Tertiary-aged rhyolite volcanic center analogous in age and setting to the 20 million ounce Round Mountain gold mine (Kinross Gold Corporation) located approximately 50 km to the northwest;
  • VR owns seven properties along the 20 km length of the Big Ten mineral trend: Hat Peak, Kano, Fisher, Amsel, Danbo, Clipper, and Little Joe properties;
  • Continuous work in 2017-2019;
  • NI 43-101 Technical Report on the Amsel property complete;
  • Drilling planned at Amsel property in 2021:
    • 66 claims covering 1,363 acres;
    • widespread silica-potassium alteration cap 2x3 km’s in size, with coincident multi-element soil
    • anomaly in gold and silver and including As, Pb, Mo and W;
    • VR plans to drill a new IP anomaly in 2021 for a gold and silver bearing quartz vein stockwork body with pyrite and adularia alteration, analogous to the Round Mountain gold mine. The anomaly extends from surface to 500 m depth in 3-D inversion model.

Reveille Silver-Copper Project, Nevada

  • Carbonate Replacement Deposit (CRD) model for silver and copper in Walker Lane Belt;
  • 2 x 3 km property with 7 high-grade silver-copper showings spanning a district of historic workings dating back to the 1870’s;
  • VR will be the first to apply new exploration technologies and modern CRD mineral deposit models to explore for the source of the overall system in the covered and unexplored valley on the western flank of the mountain range with the showings;
  • Summer 2020: airborne EM and magnetic survey, airborne hyperspectral survey, and detailed mapping, rock sampling and grid-based soil sampling;
  • A state-of-the-art 3-D array IP survey was completed in February, 2021.

Reveille is ready to drill in 2021

  • The first phase of a two-stage RC drill program commenced on March 1, 2021. Upwards of 1,500 m’s are planned in 5 or 6 holes on new and specific magnetic, EM and gravity targets at the north end of the property.
  • The second phase of drilling is planned for May or June, and will utilize results from the IP survey and geochemical data from the first phase of drilling.

Ranoke & Hecla-Kilmer Copper-Gold Projects, Ontario

Both the Ranoke and Hecla-Kilmer (H-K) properties are:

  • Centered on large magnetic anomalies associated with regional-scale gravity features.
  • Located along the western margin of the Kapuskasing Structural Zone (KSZ), a long-lived, crustal-scale fault with active intrusions spanning more than 1.7 billion years.
  • Polyphase complexes of alkaline, ultrabasic and carbonatite intrusions and kimberlites.
  • The target is large-scale IOCG (iron oxide copper-gold) hydrothermal breccia system.

Ranoke Project

  • First-pass drilling started in Feb. 2020

Hecla-Kilmer (H-K) Project

  • 4-6km carbonatite with Fe-Cu-Au hydrothermal breccia;
  • Airborne EM survey completed in June 2020;
  • 1,950m drilling completed in Nov. 2020.

A detailed ground-based gravity geophysical survey is planned for the H-K property in March, 2021, in follow-up to the results of the first-pass drilling completed in the Fall of 2020 (see news release dated Dec. 17, 2020). The specific goal of the survey is to identify high-density copper sulfide concentrations within the newly discovered hydrothermal breccia system at H-K.


Management

Management and Directors

Dr. Michael Gunning, P.Geo., President and CEO, Director

Over 25 years of industry experience: mapping & mineral deposit research with both provincial and federal Geological Surveys;

Previously CEO of Hathor Exploration Ltd. acquired by Rio Tinto for C$654m in 2012;

Executive Chairman of Alpha Minerals acquired in 2013 for C$180m;

Exploration in the Americas with Teck Resources;

He is currently focused on VR Resources, 100%.

Darin Wagner, Chairman

Over 25 years of industry experience, starting in the Americas with Xstrata and Teck Resources, then a senior officer with New Millenium and Sydney Resources, both in successful mergers, then CEO of West Timmins Mining acquired by Lake Shore Gold in 2009 for $454M and CEO of Balmoral Resources acquired recently by Wallbridge Mining in May, 2020.

Craig Lindsay, Director

Over 20 years industry experience in corporate finance, investment banking and mineral exploration business development in North America and Asia; previously CEO of Magnum Uranium focused in Nevada and acquired by Energy Fuels Inc., and served as CEO of Otis Gold recently acquired by Excellon Resources in April, 2020.

Michael Thomson, Director

Over 35 years of experience in the securities industry. President of Independent Capital Partners Inc.

Blaine Bailey, CPA, CGA, Chief Financial Officer

Working with public and private companies over the past 20 years. Currently the CFO of GR Silver Mining Ltd.


News Update

On July 14, 2021, VR Resources Ltd. has completed phase II of its first-pass RC (reverse circulation) drill program at its Reveille silver-copper and gold property in the Walker Lane gold-silver mineral belt in west-central Nevada. Four holes were completed for a total of 1,552 metres. The current drilling follows up on the geochemistry from the four Phase I drill holes completed in March, and it tests the Kawich anomaly that was delineated in the expanded 3D array, DCIP geophysical survey completed in May (see previous news release dated June 29th).

On June 29, 2021, VR Resources Ltd. has provided an update on the continuing exploration at its Reveille silver-copper and gold property in the Walker Lane gold-silver mineral belt in west-central Nevada. Phase II drilling is under way. In follow-up to results from the completion of five drill holes in March and in May for phase I of the Reveille drill program, phase II drilling is now under way. Four drill holes, each from 1,000 to 1,500 feet deep, are planned.

On May 19, 2021, VR Resources Ltd. has provided an update on the continuing exploration at its Reveille silver-copper and gold property in the Walker Lane gold-silver mineral belt in west-central Nevada. Drill hole RVD21-001 completed to 109.7 m confirms a breccia pipe starting at surface at G1. The drill program is extended, with plans to start next week to complete 3 additional RC drill holes to target the base of the G1 pipe and its controlling structure. Final data for the 3D-array DCIP geophysical survey completed in March define a new, large and high amplitude IP anomaly; both the IP grid and the property have been extended westward.

On May 14, 2021, VR Resources Ltd. has closed its previously announced non-brokered private placement, consisting of 1,428,571 units at a price of 35 cents per unit and 1,190,476 flow-through (FT) shares at a price of 42 cents per FT share for total gross proceeds of $1-million.

On May 11, 2021, VR Resources Ltd. has arranged a non-brokered private placement for gross proceeds of $1-million. VR will use the gross proceeds of the financing for its mineral exploration business, and more specifically to solidify the company's plan for follow-up drilling this September at its Hecla-Kilmer IOCG project in Northern Ontario, in response to a large, high-amplitude and high-contrast gravity anomaly announced on May 05, 2021.

On May 05, 2021, VR Resources Ltd. has received the final data for the detailed, ground-based gravity survey carried out in March over the multiphase carbonatite complex on its Hecla-Kilmer property (H-K) located in Northern Ontario. The result is obvious; the intervals of copper, gold and critical metal mineralization intersected last fall by VR are located on the eastern margin of a large and high-amplitude gravity anomaly. The company is now planning for phase II, follow-up drilling in September to test the new anomaly for the heart of the rare-earth-element-bearing, iron-oxide-copper-gold hydrothermal breccia system discovered at H-K in 2020.

On April 14, 2021, VR Resources Ltd. has confirmed that the drill is back on site and turning at its Reveille property in Nevada. VR was able to secure a track-mounted diamond drill rig on route to a nearby project in order to complete a core hole on the jasperoid breccia-pipe gold target at Reveille named G1. The drill hole is located on a ridge of structurally controlled, gold-bearing jasperoid breccia related to a rhyolite intrusion which has replaced the host limestone stratigraphy along a fold hinge fault zone, with high-grade silver and copper in breccia zones to the northeast of G1 along the same structure.

Also, the video interview is now posted on the company website (www.vrr.ca), and the link is https://youtu.be/BEt5C7gu9P0

On March 17, 2021, VR Resources Ltd. has provided a brief update on the maiden reverse circulation drill program at its Reveille silver-copper property in Nevada.

Four of five RC (reverse circulation) drill holes planned for the phase I program at Reveille were completed in 10 days for a total of 4,347 feet by a truck-mounted TH75 rig. Each hole was between 1,000 and 1,200 feet long. Continuous geochemical sampling of every five feet run in each hole is complete, and hyperspectral scanning of each hole in its entirety is now under way. Hyperspectral data for mineral mapping is expected later in March, and assay data for silver, copper and gold, among a host of other elements, are expected by the end of April.

On March 11, 2021, VR Resources Ltd. has provided an update on compiled and integrated geochemical data from the recent four-hole reconnaissance drill program completed late in 2020 at its Hecla-Kilmer (H-K) carbonatite property and copper-gold breccia target in Northern Ontario. 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.

On March 2, 2021, VR Resources Ltd. announced that drilling is underway at its Reveille silver-copper property in Nevada. The RC drill program is Phase 1 of a planned two-stage program, with the current objective of completing upwards of 1,500 metres in 5 to 6 holes during the next 2 weeks. Geochemical results are expected in April, followed by Phase II drilling planned for May or June.

On February 26, 2021, VR Resources Ltd. announced that it has closed its non-brokered flow-through private placement (“Financing”) consist of 365,854 flow-through (FT) shares at a price of 41 cents per FT share for gross proceeds of $150,000.

VR has a strong treasury of approximately $3.3 m as of March 1, 2021, and will use the gross proceeds of the financings for active mineral exploration this winter on its properties in Nevada and Ontario, and for general administrative costs. Overall, the Company is sufficiently funded for its business through 2022.

On January 29, 2021, VR Resources Ltd. announced that it has Closed its non-brokered private placement consisting of 5,134,933 units at a price of $0.30 per Unit for gross proceeds of $1,540,480.


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