logo-loader

VR Resources encouraged by early drill holes at Amsel gold-silver property, Nevada

Published: 10:35 22 Mar 2022 EDT

VR Resources Ltd -
The hill at Amsel is one of the seven properties that make up VR's Big Ten epithermal gold project in Nye County in the Walker Lane belt of Nevada

VR Resources Ltd (TSX-V:VRR, OTCQB:VRRCF) said early drill holes from its first phase drilling at the Amsel epithermal gold-silver property in Nevada, USA has strengthened its conviction of the property's potential.

Three reverse circulation (RC) holes were sunk on northern IP anomaly to depths of 732 metres (m) in total and all three hit "continuous silica-sulphide alteration" throughout, the company noted.

"Suffice it to say, and pending assays of course, our conviction is now strengthened to follow-up the sulfide alteration intersected in these initial RC holes by using diamond drilling this summer for the second leg of this first pass drilling so that we can properly test the full depth extent of the epithermal system at Amsel that is responsible for the surface alteration footprint covering some 2 x 3 km on the hill top," said VR's CEO Dr Michael Gunning in a statement.

The company boss said these "first-ever" drill holes into the heart of the epithermal gold system at Amsel had confirmed a strong vertical dimension to the large quartz-adularia alteration footprint that the company has mapped on surface over the last four years.

READ: VR Resources is set to kickoff Phase I drilling at its Amsel gold-silver property in Nevada

Drilling is planned to resume in late spring/early summer when weather conditions are more favorable for drilling on the slopes of the hill, especially the southern IP anomaly, said VR.

The second leg of the first-pass drilling will include the first holes into this larger southern IP anomaly, and the company aims to diamond drill to properly evaluate the full depth extent and potential of the sulfide alteration intersected in the three initial RC holes just completed into the northern IP anomaly.

The hill at Amsel is one of the seven properties that make up VR's Big Ten epithermal gold project in Nye County in the Walker Lane belt of Nevada - a 20 kilometer (km) long mineral trend. Amsel itself consists of 66 claims covering 1,363 acres and includes a large topographical feature with a surface footprint.

Amsel has been the focus of exploration since 2019. There are historic workings there from the 1920s and cursory exploration in the late 1970's, with no modern or systematic exploration since.

VR says it has the opportunity to be the first company to use new exploration technologies on the large-scale alteration system and to apply current deposit models developed for epithermal gold and silver deposits in the Walker Lane belt during the past 40 years, including Round Mountain.

Contact the author at giles@proactiveinvestors.com

VR Resources arranges 4-million-dollar financing as work continues at...

VR Resources CEO Michael Gunning joined Steve Darling from Proactive to share news the company has arranged a non-brokered private placement for up to 4 million dollars. The company is planning to use the cash to further exploration efforts including more drilling at its Hecla-Kilmer critical...

on 08/23/2022