The gravity anomaly, measuring 4 kilometres by 8 kilometres in size, is evidence of a large body of copper sulphide at Ranoke, the Vancouver-based junior explorer said in a statement.
Ranoke is located in an area that is prospective for a large iron oxide copper gold (IOCG) ore deposit. The survey conducted by VR Resources also refined a previously identified magnetic anomaly that indicates a robust vertical body continuous from surface to depth.
“I am not sure that this airborne survey could have delivered a more definitive anomaly and more compelling evidence for a large and coherent body of high-density copper sulfide related to variably magnetic iron oxide minerals at Ranoke,” Dr Michael H Gunning, VR’s CEO said in the statement.
“This survey confirms and advances the potential for a large IOCG mineral deposit at Ranoke, one which VR has the expertise, conviction and funding to advance.”
The explorer worked with Sander Geophysics Limited on the survey and Condor Consulting Inc for independent 3-D inversion modeling.
Gunning credited both Sander and Condor for their commitment to understanding the context for this survey within VR’s integrated exploration database, saying it has increased VR’s confidence in the “robust and rooted character” of the Ranoke anomaly.
The company is planning a follow-up IP survey in the coming months and Initiated the drill permitting process with the Ontario Ministry of Northern Development and Mines.
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