VR intersects 243 m @ 1% TREO, including 15 m @ 2.14% This discovery contributes to the rapidly evolving critical metal strategies of governments across North America aimed at growing domestic EV and wind turbine sectors in order to sustain the growth of the green economy. This relevance underscores the potential value of H-K to our shareholders, and we look forward to providing further updates as we receive final data and commence exploration planning.”
Background
Hecla-Kilmer (“H-K”) is a large and multiphase alkaline intrusive complex with carbonatite. It is 4 – 6 km in size, Proterozoic in age, and was emplaced along the western margin of the crustal-scale Kapuskasing structural zone which bisects the Archean Superior Craton in northern Ontario.
A shallow, six-hole diamond drill program was completed in 1970 as part of a regional base metal exploration program by Ashland Oil and Elgin Petroleum. One hole was abandoned, and a scant 854 metres were completed in total in the other five holes, all on magnetic highs in the outer concentric zones of the complex. There is no record of drill core sampling or geochemical data. Selco Exploration Company completed two drill holes in 1981 on peripheral magnetic highs as part of a regional diamond exploration program; they intersected altered ultra-basic rocks and black breccia in the outer, concentric zones of the multiphase complex at H-K. After this historical drilling, a regional-scale airborne magnetic survey was completed in 1993 for diamond exploration; it provided high-resolution data covering the H-K complex.
The opportunity for VR is to be the first company to apply modern IOCG and carbonatite mineral deposit models to explore the multiphase H-K complex and hydrothermal breccia system as a whole, and to use new exploration technologies not previously available when the historic drilling was done.
VR completed the first airborne EM survey over H-K in June, 2020, using the state-of-the-art VTEM+ system of Geotech Ltd. Flown at 100 m line spacing over a 6 x 7 km survey block for a total of 450 line-km, the data provide a high resolution of detail. The Company also completed an independent, 3-D inversion of both magnetic and EM data, for improved modeling of the complex in three dimensions. A detailed, ground-based gravity survey covering an area of 1.5 x 3.5 km was completed in the winter season of 2021, with high-resolution data generated from 597 stations on an equant grid spacing of 100 m.
VR completed four drill holes for a total of 1,971 metres in October, 2020, targeting the northern MVI (magnetic inversion) anomaly at H-K. The Company followed up that drilling in October, 2021, with the completion of five additional holes for a total of 2,604 metres, targeting the high contrast, 3.5 mGal gravity anomaly that is co-spatial with, but slightly offset from the MVI anomaly.
From the second drill hole onwards, VR discovered a hydrothermal vein and breccia system extending from bedrock surface to 500 m depth and containing broad intersections from 50 to 299 metres long of critical metal mineralization throughout (REE + Nb), and elevated copper and gold locally. The intersections of fluorite-carbonate veins and hydrothermal breccia are pervaded by carbonatite dykes of sovite and phoscorite composition. The mineralization occurs within high temperature, sulfide-bearing, calc-potassic and potassic alteration dominated by assemblages of magnetite, biotite, amphibole and apatite which completely replace original alkaline host rocks such as ijolite and nepheline syenite, and a myriad of porphyry dyke phases.
A state-of-the-art, ultra-high resolution drone magnetic survey was completed in the fall of 2021, and expanded in March of 2022, in order to: 1. cover the entire complex at H-K, and; 2. identify vectors for how best to follow up on the hydrothermal breccia intersections with critical metals and gold in the first two drill programs. The final survey is 3.4 x 4.5 km in size, comprising 121 lines at both 25 and 50 m line-spacing for a total of 410 line-km. The survey produces a very high resolution of data because of the tight line spacing, the low “tree-top” flight altitude of just 30 metres above ground, and a computerized flight control paired with a new, very high sensitivity potassium-vapour magnetometer.
A third diamond drill program of eight additional holes totalling 2,751 m was completed in the spring of 2022. Broad intersections of critical metal mineralization are now confirmed in 11 of 17 holes completed to date, with data from five holes still pending. Alteration and mineralization extend from surface to more than 500 metres of vertical extent, related to a vertical hydrothermal vein and breccia system that is anchored to well-defined structures in the northwestern part of the multiphase complex at H-K.
Technical Information
Summary technical and geological information for the Company’s various exploration properties is available at the Company’s website at www.vrr.ca.