Phase II Drilling Completed At Reveille Property in Nevada

VANCOUVER, - VR Resources Ltd. reported that Phase II of its first-pass RC drill program at its Reveille silver-copper and gold property in the Walker Lane gold-silver mineral belt in west-central Nevada has been completed. Four holes were completed for a total of 1,552 meters. The current drilling follows up on the geochemistry from the four Phase I drill holes completed in March, and it tests the Kawich anomaly that was delineated in the expanded 3D array, DCIP geophysical survey completed.

Continuous geochemical sampling was done on each hole in its entirety, and the samples have already been received by ALS in Reno. Data are not anticipated until the end of the summer. In the meantime, the Company will complete LWIR and SWIR hyperspectral scans of all of the drill chips in order to map alteration minerals in detail.

CEO, Michael Gunning, said, “Although the start-up of this drilling was delayed, the production speaks for itself and contributed to a very efficient all-in program and budget. Overall, we are pleased to have the first-pass drilling of our primary targets at Reveille for the Phase I and II programs completed this early in 2021.

The key initial finding from this program is the intersection and confirmation of sulfide at both of the IP anomalies that we tested. It is hosted in hydrothermally altered and replaced limestone. The sulfide generally occurs on bedding plane fractures, with quartz and calcite vein stockworks and hydrothermal breccias developed on major structures and at lithologic contacts. We do not anticipate the geochemical data from sampling until the end of the summer, but there is much work to do in the meantime integrating the drill logs, the structural data from down-hole televiewer technology, and the alteration mineral data from hyperspectral scanning utilized on this program.

We tested the new IP anomaly at Kawich in the second two holes of the program. Both holes achieved depths of around 450 m, and both intersected >150 m intervals of sulfide, starting at 120 m depth, which was the modeled depth-to-top of the IP anomaly. Altered but relatively impermeable volcanic flows cap the intersections and are clearly an important aquitard and focusing agent to the mineralizing fluids. The sulfide stringers, semi-massive seams and disseminated grains are hosted in black, de-calcified and dolomitized lime mudstone of the Devil’s Gate Formation, for which neither drill hole crossed the lower contact.

I encourage you to take a moment to examine the sulfide habits, hydrothermal carbonate replacement and breccia textures, vein minerals and oxidized iron sulfide. These intersections appear to have both the breadth and the intensity to represent a center for the Reveille mineral system which produced the distal but high grade showings in the hills to the east which attracted all of the historic work in the district. This drilling has only reinforced our conviction to continue to explore previously unrecognized targets like Kawich that are located under the covered valley to the west.

With regard to the first two holes of the Phase II program (holes 5 and 6), our goal was to explore the roots of the G1 breccia pipe intersected in the diamond drill hole RVD21-001 completed in May. The initial drill logs show us an improved framework for the structural and stratigraphic control of this target. While we await the geochemistry from this drilling, our interest is heightened in the results from the geochemical samples of the previously completed diamond drill hole, which we anticipate receiving later this month.

We look forward to providing further updates as we receive geochemical data through the summer and formulate plans for further drilling which we now anticipate for Reveille based on our initial observations from this drilling.”