VR Resources is finalizing plans for a detailed state-of-the-art DCIP geophysics targeting a large body of disseminated mineralization on the gold – copper target identified in drilling this spring.
The recently acquired Silverback project has overlapping but distinct targets for an intrusion related copper-gold system and magmatic nickel-copper-PGEs hosted in layered ultramafics. It straddles the Lac de Mille Lac greenstone belt and the Marmion terrane in the central Wabigoon Subprovince. The property was staked in 2021 after the discovery of adjacent Ni-Cu-PGE and Cu-Au showings. Anomalous nickel mineralization is associated with high-magnetic feeder dykes and mafic bodies found across 3.5 km in grab samples and drill results; remobilized copper, gold, and molybdenum mineralization has been observed on north-south shear zones, locally hosting up to 9.5 g/t gold and 5.6% copper. Before vending to VR, the project was flown with airborne DIGEM and followed up with two short scout drillholes 1km apart on strong conductors anomalies.
A two-hole, 314m maiden drill program conducted by Holbik Exploration in spring 2024 at Silverback tested near-surface conductors derived from the recent, 2023 DIGEM frequency-domain airborne survey targeting sulfide mineralization below glacial till cover. Anomalous gold occurs across 109 meters in a sericite-altered porphyry intrusion with disseminated pyrite in Hole 2, just above the nickel and chromium results reported on October 22nd in NR-24-22, as shown in the drill section in linked above. Similar alteration and weak gold mineralization is also seen 1.5 km to the east in porphyry dykes in Hole 1.
Overall, the mineralized porphyry is now the inferred source intrusion for the widespread copper, gold, and molybdenum mineralization first recognized at Silverback in surface samples along north-south shear zones spanning about 3.5 km of the property, with up to 9.5 g/t gold and 5.6% copper locally (see Figure 8).
The Silverback property is situated on the west side of Lac des Mille Lacs, in the Bedivere Lake and Boot Bay areas, approximately 120 km northwest of Thunder Bay, Ontario and 62 km northeast of Atikokan. Year round access to the claim group is possible on recent logging roads from TransCanada Hwy 17 and Hwy 11, reaching the centre of the property.
Silverback is a large property. It consists of 71 mineral claims in 1 contiguous block covering 4,442 hectares in an area approximately 10 x 5 km in size.
The property is located on provincial crown land, with mineral rights administered by the provincial Ontario Ministry of Mines. There are no annual lease payments, but the MNDM requires certain annual exploration expenditures and reporting (ie. mineral assessment reports) in order to maintain a mineral claim in good standing. The property falls within the traditional territories of the Lac des Mille Lac First Nation.
The property is owned 90% by VR with remaining 10% transferred subsequent to commencement of drilling on one of 3 vended properties of the deal announced Sept 12, 2024 (NR-24-16). There is an industry-standard royalty attached to the property, including a buy-back provision to VR.