(TheNewswire)
January 18, 2024 – TheNewswire - Vancouver, B.C.: VRResources Ltd. (TSXV:VRR ) ( FSE:5VR ) ( OTC:VRRCF), the" Company ", or “ VR ”, is pleased to provide an update on workplanned in Q1 2024 to continue advancing the REE discovery at itsHecla-Kilmer project located in northern Ontario.
VR’s goal is to assess the potential for the firstsustained rare earth element production, including the PermanentMagnet Rare Earth Oxides (PMREO) Nd, Pr, Tb and Dy, in Canada. Plansfor Q1 2024 include:
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Phase 2 MetallurgicalStudies: Completion of Phase II metallurgicalstudies at SGS, to evaluate the recovery and beneficiation processesfor an apatite-monazite mineral concentrate.
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REE Mineral VolumeAssessment: Evaluation of REE mineral volume potential at the Pike Zone, HingeZone and South Rim Zone, in vein breccia on sub-vertical structureswith 1% Total Rare Earth Oxide (TREO) on average, with PMREO contentfrom 18% to 24%.
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Economic Scoping of MiningMethods: Collaboration with Novamera Inc.,Toronto, to evaluate the use of small footprint, low impact, surfacebore hole surgicalmining methods.
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Alignment with Pilot PlantDesigns: Ongoing discussion with SRC, Saskatoon,to align REE mineralization at Hecla-Kilmer with new REE extractionplants in North America.
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Digital Compilation of MagneticSurveys: Compile all regional and property-scalemagnetic surveys covering VR's expanded land holdings across 15properties in the region and integrate with the high-resolutionsurveys completed by VR during the past four years.
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Stakeholder Engagement: Continuation of open communication and collaboration withboth the Ontario government (MNDM) and the Moose Cree FirstNation.
Mineralogy Matters
There are proven and cost-effective extractionprocesses and new extraction plants in North America for theREE-bearing mineral assemblage of apatite and monazite which occurs atHecla-Kilmer.
Results from Phase 1 of the bulk sample mineralogystudy completed at SGS Lakefield in Ontario in 2023 are positive. They confirm that the phosphate mineral apatite is the primary REEhost, and it is uniquely enriched: published resources for LREEcarbonatite deposits in Canada typically contain between 12-15% PMREOof TREO, which is roughly 40% lower than the 18-24% proportion in thebulk sample from H-K.
Figure 1 emphasizes the value potential of the REE mineralization at H-Kbecause of the high value of the two heavy REEs (HREE) that go intopermanent magnets: dysprosium and terbium.
As previously reported, and summarized in full on theCompany’s website at www.vrr.ca :
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Apatite contains approximately 80% of all REEs atH-K;
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Apatite is 7.3% TREO on average , withREE in the crystal lattice and in monazite inclusions;
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High value permanent magnet REEs (PMREO) are up to 25% of TREO in the apatite;
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Carbonatites are a source of pure, clean magmaticphosphate used in electric vehicle batteries, and the apatite in the461 m intersection in Hole 13 averages 2% , starting at surface;
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The apatite is both coarse grained andcrystalographically pure compared to apatite in sedimentary-hostedphosphate deposits.
Canada is plagued with REE discoveries made during thepast 60 years that have never been developed for two main reasons:First, most REE carbonatite deposits are enriched only in LREE(neodymium and praseodymium), and second; where HREE-rich deposits dooccur, the silicate REE mineralogy is too difficult or costly toextract. The REE mineralogy at Hecla-Kilmer is a clear distinction.
There is no REE production in Canada, and no HREEproduction across North America, period. As such, the sector isattracting strong support from provincial and federal governmentprograms in both Canada and the United States as resource demandsshift in relation to new sustainable technologies in the emergingGreen Economy. Hecla-Kilmer is on the radar screen: it has beenawarded in all three years of the Ontario OJEP program.
Size Matters
Hecla-Kilmer is a large and multiphase, alkalineultrabasic intrusive complex with carbonatite approximately 4 – 6 kmacross. There was modern, systematic exploration or drill-testing ofthe complex for a large-scale, magnetite-fluorite-apatite hydrothermalbreccia system with critical metals prior to VR.
REEs were discovered at Hecla-Kilmer by VR in itssecond drill hole, during the very first reconnaissance drill programin 2020. A total of 9,979 m of drilling has been completed in 24 drillholes in five programs since, with REE mineralization of > 1% TREOintersected in 18 of the 24 holes.
Vertical apatite-carbonate vein and vein brecciasystems are consistently concentrated in REEs across some 2.5 km ofthe complex. The higher grade mineralization occurs within akm-scale footprint of high temperature, potassic alteration (fenite)dominated by hydrothermal biotite and magnetite; it occurs alongabrupt, original intrusive host rock contacts, and is commonlystructurally controlled.
VR plans to complete an independent, 3D model for REEmineralization volumes at Hecla-Kilmer. It will use continuousgeochemical and magnetic susceptibility data obtained from all 24drill holes. Further constraints from the 3D magnetic inversionmodels derived from the high-resolution drone survey in 2022, and thehigh-resolution ground gravity data obtained in 2021 will improve theoutlines for mineral volume potential based on the various REE drillintersections.
Figure 2 . Magnetic map showing zones discovered to date with >1% TREOmineralization.
Location Matters
VR plans to evaluate the small footprint, low impact,surface bore hole surgical mining method being developed by NovameraInc., Toronto, for the high grade veins, dykes and breccia bodies atHecla-Kilmer based on the polymetallic nature of the REEmineralization including phosphate and niobium and the uniqueenrichment of the heavy PMREO – yes – but also because of itslocation attributes.
Figure 3 . Apatite-enriched REE mineralization occurs at bedrock surface atthe base of till, and just 23km from active rail, highway and provincialpower grid infrastructure at Otter Rapids.
The presence of PMREO aside, the logistical attributesof Hecla-Kilmer cannot be over-stated, and the exclamation point isits location in a province demonstrating active support for a domesticsupply of critical metals for the EV auto industry in Canada!
Technical Information
Summary technical and geological information for theCompany’s various exploration properties is available at theCompany’s website at www.vrr.ca .
VR submits sawn drill core samples for geochemicalassay to the ALS Global Ltd. (“ALS”) laboratory facilities inTimmins or Thunder Bay, Ontario, with final geochemical analyticalwork done at the ALS laboratory located in North Vancouver, BC.,including lithium borate fusion, ICP-MS and ICP-AES analyses for basemetals, trace elements and full-suite REE analysis, and golddetermination by atomic absorption on fire assay. Analytical resultsare subject to industry-standard and NI 43-101 compliant QAQC sampleprocedures, including the systematic insertion of sample duplicates,blanks and certified reference material (CRM) done both externally onthe project site by the Company and internally at the laboratory byALS, as described by ALS.
Technical information for this news release has beenprepared in accordance with the Canadian regulatory requirements setout in National Instrument 43-101. Justin Daley, P.Geo., VPExploration and a non-independent Qualified Person oversees allaspects of the Company’s mineral exploration projects, and thecontent of this news release has been reviewed on behalf of theCompany by the CEO, Dr. Michael Gunning, P.Geo., a non-independentQualified Person.
About the Hecla-KilmerProperty
The Hecla-Kilmer complex is located 23 km northwest of the Ontario hydro-electric facility atOtter Rapids, the Ontario Northland Railway, and the northern terminusof Highway 634 which links the region to the towns of Cochrane andKapuskasing to the south, itself located on the northern Trans-CanadaHighway .
The H-K property is large . It consists of 10 multi-cell mineral claims in onecontiguous block approximately 6 x 7 km in size and covering 4,617hectares. The property is owned 100% by VR.There are no underlying, annual lease payments on the property, norare there any joint venture or back-in interests. Hecla-Kilmer is located on provincial crown land, withmineral rights administered by the Ontario Ministry of NorthernDevelopment, Mines, Natural Resources and Forestry (“MNDM”). Thereare no annual payments, but the MNDM requires certain annualexploration expenditures and reporting. The property falls within thetraditional territories of the Moose Cree and Taykwa Tagamou FirstNations.
About VR Resources
VR is an established junior exploration company basedin Vancouver (TSX.V: VRR; Frankfurt: 5VR; OTCQB: VRRCF). VR evaluates,explores and advances opportunities in copper, gold and criticalmetals in Nevada, USA, and Ontario, Canada, and most recently, akimberlite breccia pipe discovery in northern Ontario. VR appliesmodern exploration technologies and leverages in-house experience andexpertise in greenfields exploration to large-footprint mineralsystems in underexplored areas/districts. The foundation of VR is theproven track record of its Board in early-stage exploration, discoveryand M&A. The Company is well-financed for its mineral explorationand corporate obligations. VR owns its properties outright andevaluates new opportunities on an ongoing basis, whether by staking oracquisition.
ONBEHALF OF THE BOARD OF DIRECTORS :
“Michael H. Gunning”
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Dr. Michael H. Gunning, PhD, PGeo
President & CEO
For general information please use the following:
Website: www.vrr.ca
Email: info@vrr.ca
Phone: 778-731-9292
Forward Looking Statements
This news release containsstatements that constitute "forward-looking statements". Such forward looking statements involve known and unknown risks,uncertainties and other factors that may cause the Company’s actualresults, performance or achievements, or developments in the industryto differ materially from the anticipated results, performance orachievements expressed or implied by such forward-looking statements.Forward-looking statements are statements that are not historicalfacts and are generally, but not always, identified by the words"expects," "plans," "anticipates,""believes," "intends," "estimates,""projects," "potential" and similar expressions, or that events or conditions"will," "would," "may,""could" or "should" occur. Forward-lookingstatements in this document include statements concerning VR’s expectations concerning the Hecla-Kilmer property and all otherstatements that are not statements of historical fact.
Although the Company believes theforward-looking information contained in this news release isreasonable based on information available on the date hereof, by theirnature forward-looking statements involve assumptions, known andunknown risks, uncertainties and other factors which may cause ouractual results, performance or achievements, or other future events,to be materially different from any future results, performance orachievements expressed or implied by such forward-lookingstatements.
Examples of such assumptions, risksand uncertainties include, without limitation, assumptions, risks anduncertainties associated with general economic conditions; theCovid-19 pandemic; adverse industry events; future legislative andregulatory developments in the mining sector; the Company ’ s ability to access sufficient capital from internal and externalsources, and/or inability to access sufficient capital on favorableterms; mining industry and markets in Canada and generally; theability of the Company to implement its business strategies;competition; and other assumptions, risks and uncertainties.
The forward-looking informationcontained in this news release represents the expectations of theCompany as of the date of this news release and, accordingly, issubject to change after such date. Readers should not place undueimportance on forward-looking information and should not rely uponthis information as of any other date. While the company may elect to,it does not undertake to update this information at any particulartime except as required in accordance with applicable laws.
This news release may also containstatements and/or information with respect to mineral propertiesand/or deposits which are adjacent to and/or potentially similar tothe Company’s mineral properties, but which the Company has nointerest in nor rights to explore. Readers are cautioned that mineraldeposits on similar properties are not necessarily indicative ofmineral deposits on the Company’s properties.
Trading in the securities of theCompany should be considered highly speculative. All of theCompany’s public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to reviewthem.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in Policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
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Figure 1 . Photograph of drill core from 174 m depth in hole HK22-013 at PikeZone, within the middle part of the 461 m intersection of continuousREE mineralization starting at bedrock surface at the base of till,and open at the end of the hole at 503m. The REE-bearingapatite-carbonate vein breccia is associated with a potassicalteration assemblage (fenite) dominated by hydrothermal biotite andmagnetite which completely replaces the original intrusive host rock. The apatite is coarse grained and crystalographically pure. It isuniquely enriched in REE, with 7.3 % TREO on average, and 18-24% PMREO ; the REEis mainly in the crystal lattice, and also in monazite inclusionswithin the apatite. The lower graphic illustrates the importance ofthe two HREEs, terbium and dysprosium, towards the implied basketvalue for Hecla-Kilmer compared to most LREE carbonatites.
Figure 2 . Magnetic map of the multiphase Hecla-Kilmer complex, with redellipses showing areas of mineral volume potential with >1% TREO. Red dots are collar locations for 24 drill holes completed in 5programs since 2020. For reference, Pike Zone and South Rim areapproximately 2.5 km apart.
Figure 3 . Besides the unique REE enrichment of apatite atHecla-Kilmer and the implied basket value of polymetallicmineralization including terbium and dysprosium, the economic scopingof surgical mining at Hecla-Kilmer builds upon this series of photos:the apatite-carbonate-magnetite REE mineralization in the middle photocomes to bedrock surface atthe base of till below a typical drill siteshown in the upper photo at Pike Zone, itself just 23 km from theinfrastructure at nearby Otter Rapids shown in lower photo.
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