VR Resources drills 1.13% TREO over 25.48 metres at Hecla-Kilmer, Ontario

VR Resources Ltd. [VRR-TSXV; VRRCF-OTC; 5VR-FSE] has discovered another high-grade zone of critical metals in one of two new areas of mineralization at its Hecla-Kilmer (H-K) property in northern Ontario.

Hole HK22-015 returned 25.5 metres of 1.131% TREO (total rare earth oxide) with 18% as Magnet REO*, within 55.2 metres of 0.70% TREO starting less than 30 metres from bedrock surface.

* % Magnet REO: is PMREO divided by TREO and expressed as a percent. PMREO is the sum of the high-value rare earth oxides Pr₂O₃ + Nd₂0₃ + Tb₂O₃ + Dy₂O₃ used in permanent magnets for wind turbines and electric vehicles.

This news release provides new data for the final four holes of the recently completed drill program at H-K, and in particular, the three reconnaissance holes HK22-014, 15 & 16 located 1.5 – 2.5 km to the south of the critical metal mineralization discovered in 2020 and 2021 in the northern part of the complex.

VR has discovered two new areas of critical metal mineralization in the central core and south rim of the multiphase alkaline complex with carbonatite at Hecla-Kilmer, in addition to the mineralization previously announced in the northwestern part of the complex. Mineralization starts at bedrock surface, or within a few tens of metres beneath the base of till in all three areas.

VR has intersected critical metal mineralization exceeding 1% TREO (total Rare Earth oxide) in 11 of the 17 drill holes completed to date at H-K. The REE mineralization is commonly within the context of broad intersections from 55 to 299 metres long which include niobium, phosphate and iron.

The new, 55-metre intersection in Hole 015 is from the south rim of the complex, in a different structural block and some 2.5 km to the southeast of Hole 13 with the 243-metre intersection of 1.01 % TREO, including 65 metres of 1.56% TREO that was announced on July 21, 2022.

New intersections extend the known, high-grade mineralization in Hole 13 farther to the west along the main east-west fault in the area.

Dr. Michael Gunning, CEO, commented: “Hecla-Kilmer advances on two fronts based on these new results. Holes 15 and 16 confirm that the large, multiphase complex at Hecla-Kilmer has more than one center of carbonatite veins and hydrothermal breccia with high-grade critical metal mineralization, while the broad intersection in Hole 17 expands significantly the volume potential for the main area of mineralization discovered in the northwest part of the complex in our first two drill programs.

The detailed drone magnetic survey completed this spring ahead of the drill program provides a clear picture for follow-up drilling in the new areas of mineralization intersected in Holes 15 and 16 located in the southern rim and central core of the overall complex respectively.

The high-grade mineralization in Hole 15 will be tested for extensions in both directions along the northeast-southwest trending structure that controls the magnetic grain. Hole 16 was collared on the southeastern edge of the pipe-like MVI anomaly located on the east-west fault that cross-cuts the central core of the entire H-K complex. The sniffs of plus- one percent TREO mineralization will be followed up by testing the center of the MVI magnetic anomaly. This drilling will pursue the heart of the magnetite-rich hydrothermal breccia.

Our existing permit at Hecla-Kilmer will facilitate follow-up drilling in all three areas of mineralization intersected at Hecla-Kilmer. Our application for a permit for first-pass drilling of the Northway target located approximately 15 km to the north is in process. With that, we look forward to providing further updates as we commence our planning for continued exploration this fall.”

The Hecla-Kilmer complex is located just 23 km northwest of the Ontario hydro-electric facility at Otter Rapids, the Ontario Northland Railway, and the northern terminus of Highway 634 which links the region to the towns of Cochrane and Kapuskasing to the south, located on the northern Trans-Canada Highway.

The H-K property is large. It consists of 224 mineral claims in one contiguous block approximately 6 x 7 km in size and covering 4,617 hectares. The property is owned 100% by VR. There are no underlying, annual lease payments on the property, nor are there any joint venture or back-in interests. There is an industry-standard royalty attached to the property, including a buy-back provision in favour of VR.

Like the Ranoke property, H-K is located on provincial crown land, with mineral rights administered by the Ontario Ministry of Northern Development, Mines, Natural Resources and Forestry (MNDM).