- VR Resources (VRR) has begun drilling at the company’s Hecla-Kilmer project in Northern Ontario
- Drilling is currently underway on the copper-gold Breccia Target
- The four to six holes planned for the current program will comprise upwards of 3,000 metres of drilling
- Drilling is expected to take four to six weeks
- VR Resources is up 7.04 per cent, trading at $0.38 at 11:31 am ET
VR Resources (VRR) has begun drilling at the company’s Hecla-Kilmer project in Northern Ontario.
Drilling is currently underway on copper-gold-rare earth elements (REE) hydrothermal breccia target.
The four to six holes planned for the current program will comprise upwards of 3,000 metres of drilling.
Drilling is expected to take four to six weeks to complete based on production rates from last year.
Geochemical data from the drilling is expected by the end of the year.
“We are excited to be back at Hecla-Kilmer with the drill. The objective of this program could not be more straight forward. Copper, gold and REE mineralization with high density profiles on XRF scans was intersected in hydrothermal breccia which spans 600 vertical metres in two drill holes completed in 2020 and located on the eastern edge of the gravity anomaly recently defined by VR. We will simply turn the drills to the west and test the center of the anomaly for the core of the potassic alteration and carbonate-fluorite breccia system which hosts the mineralization intersected last year.
HK has already proven itself as a REE-bearing IOCG hydrothermal system of potential significance to the current discussions across industry and government bodies alike regarding the critical metals sector in North America. But it is the vertical extent of the breccia, the breadth of the REE intersections on the margin of the gravity anomaly, and the sheer scale of the anomaly itself and the multiphase carbonate complex it is hosted within which is perhaps even more relevant to our shareholders.
These factors combine to underscore the potential for this drill program to intersect a new copper-gold breccia deposit (IOCG) of size in North America of size,” said VR CEO Dr. Michael Gunning.
Hecla-Kilmer is a multi-phase alkaline intrusive complex with carbonatite of inferred Proterozoic age approximately four to six kilometres across.
VR Resources is up 7.04 per cent, trading at $0.38 at 11:31 am ET.