logo-loader
viewVR Resources Ltd

VR Resources shares nudge higher as it identifies 'large' anomaly at Amsel prospect in Nevada

Amsel is part of the firm's Big Ten gold project in the Walker Lane belt in Nevada, USA

VR Resources Ltd -
The hill at Amsel is a large topographical feature at the asset with a surface footprint defined by the 2 x 2 kilometer (km) gold-silver soil anomaly

Shares in VR Resources Ltd (CVE:VRR) (OTCMKTS:VRRCF) ticked higher Monday as the company revealed it had identified a "large and integrated" anomaly at its Amsel property.

Amsel is part of the firm's Big Ten gold project in the Walker Lane belt in Nevada, and VR said it would now move towards planning first-pass drilling of this large-scale epithermal gold-silver target.

The hill at Amsel is a large topographical feature at the asset with a surface footprint defined by the 2 x 2 kilometer (km) gold-silver soil anomaly.

READ: VR Resources puts drilling on hold at Ranoke until January due to weather

Notably, this new anomaly lies within the alteration cap and gold-silver geochemical anomaly and is under the southwest flank of the hill - an area previously unexplored.

Big Ten comprises seven properties, including Amsel, totaling 103 claims along a district-scale 20 km trend.

"Amsel is ready for first-pass drilling," noted CEO Dr Michael H. Gunning.

"It has advanced from reconnaissance work along the Big Ten mineral trend in 2018 to a large and highly integrated target for epithermal gold-silver mineralization.

We have a strong degree of confidence in the location and surface-to-depth-extent of the new IP anomaly based on the verification from independent 3D inversion models, its position directly below shallow zones of high-resistivity interpreted to be alteration caps, and its direct correlation with soil geochemical anomalies in gold and silver, and adularia and muscovite mineral chemistry."

Improved understanding

The company boss added that data had improved VR's understanding of how the Amsel target compares to the 18 million ounce Round Mountain deposit, which lies nearby to the north.

"Based on the size, clarity and intensity of the IP anomaly, VR will now move forward with the permitting process it started earlier in the year for first-pass drilling on the Big Ten project, and we look forward to providing further updates as our work proceeds in 2020."

Shares nudged up 1.56% in Toronto to C$0.32 each.

Contact the author at [email protected]

Quick facts: VR Resources Ltd

Price: 0.18 CAD

TSX-V:VRR
Market: TSX-V
Market Cap: $10.93 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of VR Resources Ltd named herein, including the promotion by the Company of VR Resources Ltd in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: VR Resources finds IP anomaly at Big Ten in Nevada, Drill...

VR Resources (CVE:VRR-OTCBB: VRRCF) President and CEO Michael Gunning sat down with Steve Darling from Proactive Vancouver with news the company has completed some GEO physical works on their project in Nevada, Big Ten. Gunning talks about what they found and how this helps in the drilling...

on 12/19/2019

2 min read