Mining project moves to 2nd phase
VR Resources, a Canadian junior exploration company, said that second phase drilling has started at its Reveille silver-copper and gold project near Tonopah, according to the press release.
The Reveille project is located in the Walker Lane gold-silver mineral belt in west-central Nevada around 55 miles east of Tonopah and consists of 93 mineral claims in one contiguous block covering 1,586 acres.
Two drill holes are planned to test the roots of the breccia pipe at G1 intersected in drill core in the final hole of the Phase I program, and two holes are planned to test the core of the new IP anomaly at Kawich.
The program is expected to take two to three weeks to complete, with geochemical results anticipated by the end of the summer, including complete hyperspectral scanning of drill chips for alteration mineral mapping.
The expansion of a 3D ground-based geophysical survey is now complete and the final data received, with the “large and high amplitude” IP anomaly at Kawich now confirmed.
The Kawich IP anomaly provides a specific target for a large sulfide concentration formed at the potential source of the overall polymetallic mineral system at Reveille. This target has never been explored or drilled during the 140 years of historic prospecting in the Reveille range to the east, according to the press release.
The IP anomaly is near the margin of the Kawich caldera. The high grade silver-copper showings and historic workings exposed at the surface in the Reveille range to the east are believed to be distal expressions of a hydrothermal fluid system centered on the Kawich IP anomaly and anchored by the deeply seated structures of the Kawich caldera.
VR Resources CEO Michael Gunning noted that the company’s goal had been to apply modern mineral deposit models and new exploration technologies to look for the center of the overall CRD/porphyry mineral system at Reveille, and the firm believes the large and data-robust IP anomaly is “exactly that”.
“For our shareholders who have been following Reveille for the past year and who know that our goal has been to apply modern mineral deposit models and new exploration technologies to look for the center of the overall CRD/porphyry mineral system at Reveille, and we believe the large and data-robust IP anomaly is exactly that,” Gunning said.
