Silicon Investor - Shining Tree Gold Camp

[sense] IAMGOLD Announces Initial Resource Estimate at Gosselin Zone - Growing Côte Gold...

sense — 10/27/2021 8:38:53 PM

IAMGOLD Announces Initial Resource Estimate at Gosselin Zone - Growing Côte Gold District by 3.4 Million Gold Ounces in Indicated Resources and 1.7 Million Gold Ounces in Inferred Resources

The project is a 70 / 30 JV between IAG and Sumitomo...

[sense] Current Shining Tree Gold Camp status: with it a given there's more work to do ...

sense — 10/27/2021 8:12:45 PM

Current Shining Tree Gold Camp status: with it a given there's more work to do here getting things updated:

The quick take is that the Camp has been at least partially consolidated now, under three core owners...

Aris ALLXF / ARIS.TO at $1.27 today... now controls Juby and the surround area... but, also has the Marmato project in Columbia... a mine I know of as it was formerly one of Gran Columbia's projects... and they have raised $185 million this year while working on expanding its operations and resources...

Orefinders ORFDF / ORX.V now at only $0.05... controls a central package just west of Juby... along with properties up next to the Kerr Addison that justified Kirkland Lake in buying 10% of the company, and partnering with them in funding $60 million exploration in the Abitibi... that includes a property I once had an interest in... before it became Kerr's... and then Orefinders...

And, Platinex PANXF / PTX.CN seems it is the last man standing from among the dozen or more seekers from back in the "good old days" when the newly created Shining Tree Gold Camp... and this page covering it... were buzzing with activity...

Platinex at $0.025 is still looking for something interesting enough to make people pay attention... now looks like the only "pure play" of significance left in the camp... while all the others have more significant interests elsewhere... that perhaps making them the far better way to play it... as they've all got access to external sources of funding... that including...

IAMGOLD IAG / IMG.TO which also might be considered a participant... if you think it reasonable that we shouldn't ignore that the old SGX land package off to the west didn't disappear along with SGX... but that the whole thing was acquired by... and seems it is being kept intact by... IAMGOLD. And as it doesn't really fit anywhere else... and is on the same trend... midway between Juby and the Borden Lake deposit... ?

IAG now at $3... off the $5 high from last year in July... and bouncing off the $2.16 low from September 10th... has Yahoo saying its over-valued with a forecast of negative 19% in future returns... but also giving it a target of $3.30... matching its low in 2008... before it ran to $22 in 2011. But, it's not the same company now that it was back then... Yahoo has it losing a penny per share in Q3...

I've not been a huge fan of IAG, ever... but Cote isn't a throwaway... and I think the SGX land holding was and still is worth having... under-explored as it is...

[sense] May 4, 2021:Aris Gold Announces Initial 10,000-metre Drill Program at Juby Proje...

sense — 10/27/2021 7:45:24 PM

May 4, 2021: Aris Gold Announces Initial 10,000-metre Drill Program at Juby Project in the Abitibi Greenstone Belt, Ontario

[sense] Platinex Announces Drill Results at Shining Tree Property and Completes 3D Magne...

sense — 10/27/2021 7:32:48 PM

Platinex Announces Drill Results at Shining Tree Property and Completes 3D Magnetic Inversion

October 18, 2021·8 min read
Shining Tree Property Exploration Update

Platinex Property Mine Shafts
Platinex Property Mine ShaftsTORONTO, Oct. 18, 2021 (GLOBE NEWSWIRE) -- Platinex Inc. (CSE: PTX) (the "Company" or "Platinex") is pleased to announce initial results in connection with a portion of the planned Phase 1 drilling program conducted on the Shining Tree property and completion of magnetic data synthesis and magnetic inversion modelling. A short video showing the relationship between some of the data indicating prime exploration targets is on the home page of the website www.platinex.com.

James R. Trusler, Chairman and CEO of Platinex, stated, “We have acquired a substantial amount of geological and exploration data during the last year which is enabling significant advancement of exploration of the property. We are pinning down the location and orientation of the Ridout Tyrrell Deformation Zone, (“RTDZ”) and associated structures and are developing an understanding of the geochemical footprint of alteration hosted by the RTDZ. The new magnetic data and magnetic inversion modelling indicates that the RTDZ on the property is a major, deep-seated structure. Gold in till and pathfinder geochemistry in the till fine fraction is pointing towards sources (targets) on and related to the RTDZ. Further, gold analyses of the till fine fraction are indicating significant gold concentrations in the till believed sourced from the RTDZ and related structures. The new IP surveys have resulted in several anomalies to be prioritized and tested. The path to discovery is beneath our feet.”

Drilling Results Overview:
A total of 1,270m of the phase 1 drilling program was completed between April and June this year including testing one IP hole within the Ridout Tyrrell Deformation Zone (“RTDZ”) which intersected anomalous gold and multi-element pathfinder elements in a significant 86m thick fault zone containing intensely deformed fault breccia within a mylonitic matrix from 34m depth. The five other holes tested the Caswell Shaft 2 and Vein 109 areas. All encountered gold mineralization with gold values up to 6.4g/t/0.5m in Hole WP21-12. Vein 109, which historically has been mapped and exposed for a 200m strike length was drill tested by three drill holes.

The Company has been acquiring new data over the past 12 months covering the property including the 3D magnetic inversion, synoptic geology study, LIDAR, gold in till and an IP survey and is in the process of compiling and interpreting the data and prioritizing targets on the property which is summarized further in the press release. The data gathering and interpretation has resulted in the progressive identification of deep- seated structures on its Shining Tree property and indications are that several large and high magnetic susceptibility bodies are present.

In addition to the key points above a new magnetic data interpretation has been provided from the west end of the property to Tyrrell Twp. All of the data inputs are being considered together and a new IP survey identified 8 IP anomalies on the RTDZ. In total, the IP survey identified 25 IP chargeability anomalies, including 16 identified as high priority.

Finally, since the Herrick deposit is a short distance from the recently acquired and consolidated Ronda mine area from Alamos Gold (see press release dated September 24, 2021), an in-house evaluation of resource potential has been completed, including historical drilling and recent drilling completed by Platinex. Recommendations include drilling to evaluate continuity and resource potential in the Herrick deposit and drilling to evaluate exploration potential in the Herrick-Ronda Mine area. It is anticipated that the second phase of drilling will include infill, expansion, and exploration drilling and drill test the Ronda area and the new IP targets.

Phase 1 Drilling Program Results:
Hole PGC-21-01 was drilled in a northeasterly direction for 261m to test an IP anomaly and intersected an 86m thick fault zone containing intensely deformed fault breccia within a mylonitic matrix from 34m depth. This has been identified as the Ridout Tyrrell Deformation Zone (“RTDZ”). A cherty graphitic, pyritic sedimentary rock occurs from 76.65m in the hole for 14.9m within the fault zone. Analyses indicate low anomalous levels of gold (See table below) and up to 186 parts per million (“ppm”) zinc, 353 ppm arsenic, 239ppm barium, 9.2 ppm antimony,116 ppm copper, 573 parts per billion (“ppb”) mercury, 68.6 ppm molybdenum and 16 ppm tungsten.

The association of anomalous levels of zinc, arsenic, barium, antimony, copper, mercury, molybdenum and tungsten with gold from the within the RTDZ may well form a fingerprint for this type of mineralization. Indeed, this same association with much higher anomalous multi-element results was noted in the fine portion of many of the highly anomalous gold in till samples (see press release dated September 27, 2021).

The multi-element geochemistry is being further analyzed to test its possible use to vector to and identify the in-place source of the gold and multi-element mineralization.

The remaining drill holes in the program are reported in the table below:

Hole ID	Easting	Northing	Elevation	Azimuth	Inclination	Length (m)	From	To	Length	Au	Comments
Hole ID	Easting	Northing	Elevation	Azimuth	Inclination	Length (m)	(m)	(m)	(m)	(g/t)

WP21-09	485845	5272312	364	144o	45o	219	142.90	143.50	0.60	1.46
WP21-10	485949	5272220	365	139o	45o	177	112.40	112.90	0.50	1.06
							125.00	126.20	1.20	0.45	Evelyn Vein near Caswell Shaft 2
WP21-11	485992	5272194	368	305o	45o	300	202.40	203.50	1.10	1.02
							234.50	237.70	3.20	1.06	Vein 109
							235.00	235.50	0.50	2.15	Vein 109
WP21-12	485924	5272260	366	330o	45o	222	78.30	78.60	0.30	1.80	Vein 109
							189.00	189.50	0.50	6.40	Evelyn Vein?
PCG21-01	483754	5272145	379	045o	45o	261	76.65	91.55	14.90	0.03	Ridout Tyrrell Deformation Zone

Notes: Location coordinates are UTM NAD83 Z17
Intersection lengths are down lengths, true widths are not known
WP21-08 reported 1.00m at .37 g/t

3D Magnetic Inversion

The synthesis of magnetic data and the 3D magnetic inversion have now been completed. The results are being processed and will be shown on the website in video format showing the special relationships between the deep structures, existing IP anomalies, gold in till anomalies multi-element analyses and any other relevant features. Preliminary indications are that several large and high magnetic susceptibility bodies present as targets for follow up exploration including:

A trachyte, which attaches to a deep-seated magnetic anomaly, correlates with an E-W Down Hole IP inversion anomaly and a 39.3m well mineralized and altered section of trachyte in hole HU-89-8.

A magnetic body correlates with a widespread area of high gold in till values and abundant levels of mercury, zinc, molybdenum, barium, arsenic, antimony, copper and tungsten in the gold in till fines. The magnetic susceptibility anomaly broadens significantly at depth. This area is also centred on a gravity high.

Initial indications are that portions of the Ridout Tyrrell Deformation Zone and a related parallel structure form deep seated magnetic features.

A large gold in till anomaly is near a strong IP anomaly which correlated with the margin of a very strong and deep-seated magnetic susceptibility anomaly.

Synoptic Geological Mapping

Interpretation of Ridout Tyrrell Deformation Zone (RTDZ) based on the mapping of geological features, has been done property wide revealing a 21km length and two possible related faults one parallel to the RTDZ and the other a spur fault intersecting the Herrick Mine veins. These two features would provide an additional 12 km of high potential target area for a total of 33km of prospective geological structures.

LIDAR

LIDAR provides accurate imagery of the Shining Tree property in various views which is providing access to certain capabilities that are newly realized:

The imagery enables accurate check on locations of features such as historic workings otherwise hidden from observation.

Helps in structural analysis of property (coupling with 3D magnetic inversion) and identifying terrain conditions. Eg can accurately interpret direction of glacial movement in last ice age which improves interpretation of source of gold in till indications.

Helps locate outcrops and geological features for ground follow up.

Enables follow up audit of program effectiveness. Eg. the check on old workings has enabled Platinex to identify that the best old trenches on Caswell east were missed in the 2020 stripping program.

All exploration activities including drilling, line cutting, and IP are being designed and will be implemented within COVID-19 safety guidelines for the province of Ontario.

The information presented in this news release has been reviewed and approved by James R. Trusler, P.Eng., Chairman and CEO of the Company and the Qualified Person for exploration at the Shining Tree property, as defined by National Instrument 43-101 ‘Standards for Disclosure for Mineral Projects’.

To receive Company, press releases please subscribe at the Company’s website.

James R. Trusler
Chief Executive Officer
Tel: (416) 565-5616
Email: jtrusler@platinex.com

Web: platinex.com

About Platinex Inc. – Advancing a District Scale Project in an Abitibi Gold Camp
Platinex is focusing its efforts on the exploration of its property in the Shining Tree District. The 21,806 ha. (53,883 acres /218 km 2) property is situated along the Ridout-Tyrrell trend between the Juby deposit of Aris Gold to the east and the mine development-stage Cote gold deposit and recently announced major discovery, Gosselin gold deposit of IAMGOLD and Sumitomo to the west. Platinex has created the largest combined gold focused property package in the Shining Tree District, northern Ontario, which has received little modern exploration compared to other gold camps in the Abitibi Greenstone Belt. Shares of Platinex are listed for trading on the Canadian Securities Exchange under the symbol "PTX".

To receive Company press releases, please subscribe at the Company’s new website.

FORWARD-LOOKING STATEMENTS:

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include use proprietary data to seek financial backing to advance its platinum group properties, submission of the relevant documentation within the required timeframe and to the satisfaction of the relevant regulators, completing the acquisition of applicable assets and raising sufficient financing to complete the Company's business strategy. There is no certainty that any of these events will occur. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances, except as required by applicable securities laws.

Investing into early stage companies, inherently carries a high degree of risk and investment into securities of the Company shall be considered highly speculative.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any province in which such offer, solicitation or sale would be unlawful. The securities issued, or to be issued, under the Private Placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

The Canadian Securities Exchange has not passed upon the merits of the Private Placement and has not approved nor disapproved the contents of this press release.

A photo accompanying this announcement is available at globenewswire.com

Symbol Last Price Change % Change

[sense] Where did the old Kerr Mines properties go ? From Kerr toOrefinders... first......

sense — 10/27/2021 5:36:48 PM

Where did the old Kerr Mines properties go ?

From Kerr to Orefinders... first... then, after the December 2017 article:

Shining Tree prospects look bright for Orefinders

Orefinders spun off the Gowganda properties.. " the cobalt and silver Mann Mine and the MacMurchy nickel property"... or the silver-cobalt assets, comprised of the Mann Mines and MacMurchy properties" to Powerore... or Power Ore.... an Orefinders subsidiary that turned into QC Copper... with the Kerr properties as the only assets they had to start with, before adding the Opemiska copper project...

Power Ore became QC Copper... which is now focused on a pair of properties in Quebec... copper/gold at Opemiska and a gold project called Roger... both in Quebec... with no mention of the former Kerr properties there at all now...

MacMurchy is still missing in action... was last reported as owned by Powerore... PORE.V... before the name change to QC Copper... with the best results in a search for it now showing it as Powerore's, or, in a hit from 2010 as a Creso exploration interest as:

The Corporation [Creso] has completed down-hole geophysical testing on the MacMurchy property and intersected 7.4% nickel and 2 g/t platinum and palladium over one meter in hole D6-07 confirming the nickel potential of the area. The MacMurchy property is located in the southwest corner of the MacMurchy Township some 10 km SSW of the Minto property.

But, the Mann Mines have popped up again as owned by Rider Investment Capital Corp... whoever that is or was... with a filing of an updated Technical Report... from the OTC markets page, with the web address line containing BSENF... and leading only to a mention of "an interest"... which isn't overly specific...

That's found at Baseload Energy... BSENF... with a Yahoo profile that says: Baselode Energy Corp. engages in the acquisition and exploration of mineral properties in Canada. It primarily explores for uranium, silver, and cobalt deposits. The company holds interests in the Shadow project covering an area of 41,885 hectares; the Hook project covering an area of approximately 30,000 hectares; and the Catharsis project covering an area of approximately 83,000 hectares located in the Athabasca basin area of northern Saskatchewan. It also holds an interest in the Mann Mine project that consists of 18 contiguous mining claims covering an area of 852.5 hectares located in Milner Township, Ontario.

No mention of the property found on the Baseline web page... and they've listed only three projects, each of which are focused on uranium...

[sense] Ran across the into on Orefinders today in poking at: 2018: Kerr Mines sells...

sense — 10/27/2021 12:57:31 PM

Ran across the into on Orefinders today in poking at:

2018: Kerr Mines sells assets to focus on Copperstone

Under the agreement, Kerr has divested all of its interest in the McGarry mine, and Barber-Larder properties to McGarry-Larder Mines Inc., a wholly-owned subsidiary of Orefinders. In return Kerr will receive approximately 9% of Orefinders’ outstanding shares. In addition, Kerr will receive 440,248 common shares of Powerore Inc., a battery-metal focused company that was recently set up to acquire Orefinders’ silver-cobalt assets, comprised of the Mann Mines and MacMurchy properties. The properties are located in the Cobalt-Gowganda District of Ontario, and form part of Orefinders’ plan to create a pure play battery metals company.

“The sale of the McGarry assets for common shares in Orefinders is an excellent value-creating opportunity for Kerr Mines shareholders,” said Claudio Ciavarella, CEO of Kerr Mines. “The McGarry assets in Northern Ontario fit with Orefinders’ plans of developing assets in the Abitibi and will unlock value for Kerr shareholders,’’ he said.

[sense] OrefindersORFDF / ORX.V Webinar (July 2021) at the head of the website starts ...

sense — 10/27/2021 12:28:30 PM

Orefinders ORFDF / ORX.V

Webinar (July 2021) at the head of the website starts out saying they've got $7 million cash in the bank, so well enough funded to do some work... but also have a $60 million deal with Kirkland Lake to share what they find with Kirkland on a 75/25 basis...

[sense] Updated Technical Report on the Mann Property, Milner Township, Gowganda, Ontari...

sense — 10/27/2021 12:18:43 PM

Updated Technical Report on the Mann Property, Milner Township, Gowganda, Ontario

[sense] October 20, 2021:Orefinders Resources Announces Beginning of 5,000m Phase 2 Dril...

sense — 10/27/2021 12:13:59 PM

October 20, 2021: Orefinders Resources Announces Beginning of 5,000m Phase 2 Drill Program at Knight Gold Project

September 22, 2021: Orefinders Resources Announces 5,000 Metre Phase 2 Drilling Program at its Knight Gold Project

August 31, 2021: Orefinders Resources Launches 3-D Geophysical & Artificial Intelligence Modeling for Drill Targeting at its Knight and McGarry Gold Projects

July 26, 2021: Orefinders Resources Updates on Phase 2 Drilling with Kirkland Lake Gold at the Knight Project

[sense] Orefinders Resources Acquires Property Portfolio in Shining Tree District Adjace...

sense — 10/27/2021 11:56:31 AM

Orefinders Resources Acquires Property Portfolio in Shining Tree District Adjacent to Tahoe Resource's Juby Gold Project

Juby seems it is the only property in the camp that has succeeded, thus far, in progressing much... most recently reported has having expanded to 4 million ounces...

Tahoe, of course... which was one of my favorites... was long since bought out by PAAS after operating issues emerged due encountering geopolitical issues in Central America...

[Maple MAGA ] Drilling is Underway at VR’s Hecla-Kilmer Copper-Gold Breccia Target in Northern...

Maple MAGA — 9/14/2021 9:15:30 AM

Drilling is Underway at VR’s Hecla-Kilmer Copper-Gold Breccia Target in Northern Ontario

VANCOUVER, British Columbia, Sept. 14, 2021 (GLOBE NEWSWIRE) -- VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCQB: VRRCF), the "Company", or “VR”, is pleased to announce that drilling is now underway at its Hecla-Kilmer property and copper-gold-REE hydrothermal breccia target in northwestern Ontario.

Photo 1 is a photograph from the field this past weekend, Sunday, September 12th, showing the diamond drill rig at HK21-005, shown on the location map in Figure 1.

Figure 1 shows the locations of the drill holes planned for this fall, and those completed last fall, in October, 2020, during the Phase I program which targeted MVI anomaly peaks derived from the 3D inversion of the high resolution airborne magnetic survey which covers H-K. In follow-up, drilling in 2021 is focused on the large and high contrast, 3.5 mGal gravity anomaly outlined by a survey which was completed in March, 2021, subsequent to Phase I drilling. The gravity anomaly is co-spatial with, but offset from the center MVI magnetic anomaly.

The four to six holes planned for the current program will comprise upwards of 3,000 m of drilling which is expected to take from four to six weeks to complete based on production rates from last year.

Geochemical data from this drilling are expected by year-end. VR will also obtain high resolution magnetic susceptibility and density data hyperspectral data from the continuous scanning of core from each drill hole in its entirety with a field-portable XRF unit.

From VR’s CEO Dr. Michael Gunning, “We are excited to be back at Hecla-Kilmer with the drill.”

“The objective of this program could not be more straight forward. Copper, gold and REE (rare earth element) mineralization with high density profiles on XRF scans was intersected in hydrothermal breccia which spans 600 vertical metres in two drill holes completed in 2020 and located on the eastern edge of the gravity anomaly recently defined by VR. We will simply turn the drills to the west and test the center of the anomaly for the core of the potassic alteration and carbonate-fluorite breccia system which hosts the mineralization intersected last year.”

“HK has already proven itself as a REE-bearing IOCG hydrothermal system of potential significance to the current discussions across industry and government bodies alike regarding the critical metals sector in North America. But it is the vertical extent of the breccia, the breadth of the REE intersections on the margin of the gravity anomaly, and the sheer scale of the anomaly itself and the multiphase carbonate complex it is hosted within which is perhaps even more relevant to our shareholders. These factors combine to underscore the potential for this drill program to intersect a new copper-gold breccia deposit (IOCG) of size in North America of size.”

“With the same drill company, drill and drill crew from last year now on site again this year, and utilizing the same camp, camp location and helicopter support, we look forward to execution with the same efficiencies achieved in 2020. We will provide further updates as the program advances.”

Background

Hecla-Kilmer (“H-K”) is a multi-phase alkaline intrusive complex with carbonatite of inferred Proterozoic age and some 4 – 6 km across, emplaced along the western margin of the crustal-scale Kapuskasing structural zone which bisects the Archean Superior Craton in northern Ontario. The opportunity for VR is to apply current IOCG and carbonatite mineral deposit models and modern exploration technologies at H-K for the first time, ever.

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 only 854 m were completed in total in 5 holes, all on magnetic highs in the outer concentric zones of the complex. Selco Exploration Company completed two drill holes in 1981 on peripheral magnetic highs as part of a regional diamond exploration program, and intersected ultra-basic rocks and breccias in the outer, concentric zones of the polyphase H-K complex. A high resolution airborne magnetic survey completed in the region in 1993 for diamond exploration, after the early drilling at H-K included coverage of the H-K alkaline complex and magnetic anomaly.

The reader is referred to the previous news release dated June 18th, 2020, for photographs of magnetite-copper-fluorite vein and vein breccia replacement in core from the historic drill holes located around the periphery of the new gravity anomaly (see Figure 1), and gold grains retrieved from drill core rubble.

VR completed the first-ever airborne EM survey ever over the H-K complex 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’s, the data provide a high resolution of detail. The Company also had an independent, 3-D inversion of both magnetic and EM data completed for improved modeling for a potential magnetite-copper-gold hydrothermal breccia system (IOCG) within the multi-phase carbonatite complex at H-K.

The reader is referred to the recent news release dated July 22nd, 2021, for tabulated assay data and drill core photos from intersections of rare earth element mineralization hosted in carbonate-fluorite-sulfide hydrothermal breccia with potassic alteration mineral assemblages in two of the drill holes completed by VR in 2020 which targeted the peaks of the magnetic MVI anomalies. The holes are located on the eastern margin of the gravity anomaly identified and delineated by a ground-based winter gravity survey completed subsequent to the first-phase drilling in the fall of 2020.

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.

For the first phase of drilling in 2020 at Hecla-Kilmer project, VR submitted drill core for Minalyze XRF scanning and sawn drill core samples for geochemical assay to the SGS Canada Inc. (“SGS”) laboratory facilities in Sudbury, Ontario, with final geochemical analytical work done at the SGS laboratory located in Burnaby, BC., including ICP-MS and ICP-AES analyses for base metals, trace elements and full-suite REE analysis, and gold determination by atomic absorption assay. Analytical results are subject to industry-standard and NI 43-101 compliant QAQC sample procedures externally by the Company and internally at the laboratory as described by SGS.

Technical information for this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Justin Daley, P.Geo., Exploration Manager and Chief Geologist at VR and a non-independent Qualified Person oversees and/or participates in all aspects of the Company’s mineral exploration projects, and the content of this news release has been reviewed on behalf of the Company by the CEO, Dr. Michael Gunning, P.Geo., a non-independent Qualified Person.

About Hecla-Kilmer

The Hecla-Kilmer complex is located 35 kms southwest of the Company’s Ranoke property in northern Ontario. It is located 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 along the northern Trans-Canada Highway located some 100 km to the south.

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 to VR.

Like the Ranoke property, H-K is located on provincial crown land, with mineral rights administered by the provincial Ontario Ministry of Northern Development and Mines (MNDM). There are no annual payments, but the MNDM requires certain annual exploration expenditures and reporting. The property falls within the traditional territories of the Moose Cree and Taykwa Tagamou First Nations.

About VR Resources

VR is an established junior exploration company focused on greenfields opportunities in copper and gold (TSX.V: VRR; Frankfurt: 5VR; OTCQB: VRRCF). VR is the continuance of 4 years of active exploration in Nevada by a Vancouver-based private company. The diverse experience and proven track record of its Board in early-stage exploration, discovery and M&A is the foundation of VR. The Company focuses on underexplored, large-footprint mineral systems in the western United States and Canada, and is well financed for its exploration strategies and corporate obligations. VR owns its properties outright, and evaluates new opportunities on an ongoing basis, whether by staking or acquisition.

The Company continues its normal course of business in 2021 within the framework of modified exploration programs in response to the COVID-19 pandemic, with the goal of ensuring the health and safety of staff and project personnel.

ON BEHALF OF THE BOARD OF DIRECTORS:

“Michael H. Gunning”
____________________________
Dr. Michael H. Gunning, PhD, PGeo
President & CEO

For general information please use the following:

Website:	www.vrr.ca
Email:	info@vrr.ca
Phone:	604-262-1104

Forward Looking Statements

This press release contains forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer to future events. Forward looking statements in this release include “It is expected to take from four to six weeks to complete up to 3,000 m of drilling”, and “VR evaluates new opportunities on an ongoing basis, whether by staking or acquisition.”

This news release contains statements and/or information with respect to mineral properties and/or deposits which are adjacent to and/or potentially similar to the Company’s mineral properties, but which the Company has no interest in nor rights to explore. Readers are cautioned that mineral deposits on adjacent or similar properties are not necessarily indicative of mineral deposits on the Company’s properties.

Although the Company believes that the use of such statements is reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements. Trading in the securities of the Company should be considered highly speculative. All of the Company’s public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

A photo accompanying this announcement is available at globenewswire.com

A figure accompanying this announcement is available at globenewswire.com

Photo 1

Diamond drill rig on VR’s Hecla-Kilmer property in northern Ontario on Sunday, September 12th, 2021, to begin the follow-up drill program to Phase I drilling completed last fall, in October, 2020. Drill hole locations for both programs are shown in Figure 1 on the following page.
Figure 1

Locations of the drill holes completed by VR in 2020, and those planned for 2021, plotted on the residual gravity map derived from the ground-based survey completed in March, 2020. The white lines delineate the Riedel dilational structural boundaries of the large, internally coherent, 3.5 mGal gravity anomaly. Drilling in 2021 will test the center of the gravity anomaly for the source, and center of the hydrothermal breccia system which produced the high density, copper and REE mineralization intersected in two of the drill holes from 2020.

[sense] Shining Tree Gold Camp looked like it had potential... but, thus far, has mostl...

sense — 9/3/2021 10:04:34 PM

Shining Tree Gold Camp looked like it had potential... but, thus far, has mostly come up empty.

The big winners were Trelawney and Borden Lake... and they weren't even really in the camp...

Doesn't mean someone won't come up with a better idea for how to find what's hiding there... and find it ?

But, those holding the ground now haven't been setting any records in finding or in funding.

However... there's a new camp... and this one looks like it is a proven winner hands down... and still early.

Feel free to join me there: Newfoundland Cold Camp

[sense] Don't disagree re "interest" in Juby and Edelston... However, a deal done for $...

sense — 8/29/2015 4:02:46 PM

Don't disagree re "interest" in Juby and Edelston...

However, a deal done for $135K in convertible notes is no benefit to SGX or its shareholders. It might keep them alive for a while, that's all... so, its better than being dead, but, still... just a step stone on the path to being dead.

The fact of the ugliness of the current market... doesn't convert convertible note financing into anything other than even more ugly.

It's not a knock on Oban or Osisko for making sharp deals in a dull market... its just a fact that those with cash in hand, now, are in a WAY better position than any of those with their hands out seeking cash from others now. But, it is a knock on the management of SGX (and all the other juniors in the same or worse situations) that they've not managed their finances in a way that operates to insulate them from the fact of the ugliness that exists.

For investors... you don't win by ignoring the value in the rocks when the best of them are on sale... but, you also don't gain any unique benefit from opting in to owning what will end up being the losing side of the deals being done.

I'll continue to focus on those companies who have skilled enough management that have actually managed to survive and reach this point in the market trend with cash in hand, enabling them to buy "best in market" properties at prices that don't do much to differentiate the best from the worst moose pasture.

[jamesien] It is good news for the Shining Tree area that Oban (backed by Osisko) is showin...

jamesien — 8/29/2015 12:34:22 PM

It is good news for the Shining Tree area that Oban (backed by Osisko) is showing interest,through SGX. Remember OBM was recently trying to merge with Temex to have the Juby deposit. This one ended in Lakeshore Gold, another good company to see involved in the area. Despite a market quite dead for the juniors, those that had discoveries in the last cycle can still attract money.

I am a new shareholder in Oban and very happy to see them in the Shining Tree area. I end up involved in Juby anyway, I was already shareholder in LSG.

I like Juby and Edleston zones, and will follow progress on both with a lot of interest.

Jamesien

[jamesien] SGX attracted some interest finally on Edleston: stockwatch.com

jamesien — 8/29/2015 11:22:28 AM

[sense] The only meaningful successes in the region thus far... are Trelawney having bee...

sense — 8/21/2015 3:50:46 PM

The only meaningful successes in the region thus far... are Trelawney having been bought out by IAG (in a fabulously over-priced deal that had Trelawney holders make out big time) and Probe recently being bought out by Goldcorp... following which the news on Borden Lake has become "thin" in quantity and quality, the latest saying the focus is now infill drilling designed to convert already known resources to reserves, as here: goldcorp.com

Meanwhile, Goldcorp has gone on a major lease acquisition binge... acquiring massive new acreages all around and to the north of their new Borden Lake property, all the way up to and beyond Lake Nemegosenda... following the known fault structures...

And, while both of those instances are occurrences "on trend" with Shining Tree, they share common geology in terms of proximity to the known gold bearing fault structures in the region more than they are a part of the Shining Tree camp, proper...

It is still highly likely that Shining Tree will prove out to be a major "new" gold camp... however, given the market trends in place now, the pace at which that is likely to be proven meaningful is likely to be "glacial" at best...

Those that have approached the area with a focus on acquiring a tightly focused and well integrated lease package containing known high value potentials... appear to have faired vastly better than those which have focused instead on acquiring larger scale leases on all the real estate they could, hoping to get lucky, somehow, in having something be found on what they happened to own... although, they've not shown much ability to look, much less to find anything themselves. The poster child for that obviously failed approach... has to be Adroit Resources, which has proven much less than adroit... I don't disagree with their view of "potential" in the large regional lease package they assembled... but, they had no viable plan to advance any of that potential with exploration efforts...

Perhaps the most disappointing effort... since they otherwise appeared to be "doing it right" with a focus on high value potentials paired with an effort that appeared to be succeeding in advancing meaningful exploration work... has to be SGX Resources. The only apparent difference... albeit an obviously major one... between a Trelawney or a Probe and SGX... is that SGX has clearly failed to adequately develop proper awareness of a high probability TARGET ZONE that was sufficiently enough explored to attract others interest.

And, now, they're being left essentially twisting in the wind with a "can't get there from here" dependency built into the capital structure.

[niostargazer] m.authorstream.com

niostargazer — 8/20/2015 1:00:52 PM

[sense] Interesting to note... re SGX Resources, the last company I posted about here, b...

sense — 6/22/2015 9:53:02 PM

Interesting to note... re SGX Resources, the last company I posted about here, back in August of 2014:

The last news posted on their website was April 23, 2015, announcing a default:
SGX PROVIDES NOTICE OF DEFAULT

That's still the headline news on their webpage... They were late filing, as they didn't have the money to file their SEDAR reports... so they requested (and got) only a management CTO until they could get current. They were selling a property for $130K just to raise enough $ to get current on the required filings, and maybe even keep one or two of the lights on ? Since then, they HAVE updated their filings, which you can see on SEDAR... they just haven't bothered spending any money to update their own website to tell you that... leaving the ugly headline up front there.

The recently updated filings are pretty ugly, too, though... Essentially, they're flat broke, have no income... and they owe about $2 million, half to management for back pay, and the other half in around a $1 million of that which is tied to collateral interests in their leases. They have opted to shut down to the bare bones for the duration of the investment funding drought now being inflicted on all the junior mining stocks...

From the SGX Resources updated MD&A May 29, filed for the period to March 15:

"BUSINESS ENVIRONMENT and OUTLOOK

"Due to weak capital markets for junior mineral exploration companies, Management with the support of the
Board of Directors has reduced exploration activities to conserve capital. This involves the curtailment of
exploration activities and the reduction of administrative overheads to an absolute minimum until such time
that the capital markets are more supportive of junior exploration projects. The Company will need to raise additional working capital in the coming months, as it does not have sufficient working capital to fund the ongoing operations. In the current financial environment, there is a risk that the Company will be unable to raise sufficient funds, thus jeopardizing the Company's ability to continue as a going-concern."

================================================================================

FWIW... the $1 million that they owe and can't possibly pay... is owed to San Gold Corp. San Gold, although it is actually a significant producer, and one that should still be profitable... is having its own difficulties in making debt payments, given inefficient operations ($1200 costs), the persistent decline in the price of gold, and purposefully obstinate lenders who aren't willing to cooperate to enable a restructuring that would make the company sustainable. In their June 5 news release and filings San management addressed their inability and failure to work their way out of the court protection they've been operating under:

"Subsequent Events
- Announced April 15, 2015, the suspension of all mining and milling operations.
- Obtained an extension to the court-ordered Stay Period until June 22, 2015 for the Company's proposal trustee to file a proposal to creditors.
- Announced May 28, 2015 that no third-party bids were received from the SISP and that the Company will become bankrupt upon the conclusion of the Stay Period."

And, that looks like it was today... June 22...

So, expect SGX Resources to follow San Gold down the tubes... just as soon as the San Gold creditors come calling to collect what's owed them... and take in the collateral.

[sense] Three more Shining Tree related company websites on the list here appear to have...

sense — 6/22/2015 8:40:50 PM

Three more Shining Tree related company websites on the list here appear to have... ceased functioning...
A couple of the others appear to have no overt interest they've sustained... not listing any interest on their webpages, at least, although I've not dug through the Geology Ontario lease holdings to see if there is evidence of having abandoned their former leases. There has been a fairly considerable turnover in leases in the region.

Most of the webpages appear they've been "static"... for quite a while...

Perhaps an exception, if it is current now... the SRSR page shows that their contiguous core area holdings, at least relative to what's shown on the intro map, have expanded considerably... including that it looks like they've taken over a couple of leases that the intro map says were formerly Creso's... ?

sarissaresources.com

[sense] SGX Resources continues consolidating their "Timmins South" holdings, and in the...

sense — 8/1/2014 5:52:43 AM

SGX Resources continues consolidating their "Timmins South" holdings, and in their most recent news annouced opening a $2.5 million private placement offering, in early June...

Also:
SAN GOLD FILES EARLY WARNING REPORT REGARDING SGX RESOURCES
sangold.mwnewsroom.com

[sense] Threegold.ca is temporarily down for maintenance. We are busy updating the webs...

sense — 8/1/2014 5:30:53 AM

Threegold.ca is temporarily down for maintenance.

We are busy updating the website for you and we will be back shortly. Please visit us again soon.

[sense] Temex news not all that positive... at least not for Temex, it seems, at first b...

sense — 8/1/2014 5:03:30 AM

Temex news not all that positive... at least not for Temex, it seems, at first blush. From July 15: "due to increased commitments with other issuers, Mr. Gregory Gibson has resigned as Chairman of the Board of Directors."

Yes, that's the same guy that was part of the Trelawney team... who is now busy with other things.

However, the new guy is no slouch: "Mr. Marion brings to Temex approximately 30 years of operations, mineral exploration and mine development experience and a successful history of corporate development. He was most recently President, CEO and Director of AuRico Gold Inc. ("AuRico") where he built AuRico into one of the "Top 40 Mining Companies" (Canadian Mining Journal, August 2012). Under Mr. Marion's leadership, AuRico executed several transformational transactions which included the acquisition and development of AuRico's flagship Young-Davidson Mine.

AUQ is being carried to production at the Young-Davidson (by LSG, who partly through their own mismanagement had to take on a big pile of debt in this horrible market to get their mine built) was one of my top picks for sustaining value through the current mining stock route... which it has done quite handily, even if not providing the more dramatic trading potential that partner LSG has had this year, with a run from down around $0.20 recently to get back over $1 now.

I don't dislike finding decent trading opportunities like that when they happen... but, I'd still rather have the management of companies I own succeed in preserving value rather than create them.

I was previously a fan (and a holder) of Northgate who was acquired by AUQ to get the Young-Davidson property... and I always like to find management that recognizes (and preserves) the value I recognize too.

[sense] Strike Minerals another vulture capital funded mort candidate (Waterton Global) ...

sense — 8/1/2014 4:46:49 AM

Strike Minerals another vulture capital funded mort candidate (Waterton Global) with no meaningful changes on the website since last year. They're completely out of cash, are in default to Waterton, were suspended for late filings and failed to resolve their default status in Canada, which won them a CTO, and it also hasn't traded in the U.S. since December... but, they're "hopeful" they can raise more money...

"TORONTO, ONTARIO--(May 23, 2014) - Strike Minerals Inc. (TSXVENTURE:STK) ("Strike" or
the "Company") would like to announce to its shareholders, that the Company continues to
explore avenues of financing to move forward to develop its Edwards Mine flagship property in
Wawa, Ontario. While the company continues to be under its Cease Trade Order, The President
of the Corporation, Kerry Smith, wishes to notify shareholders that the company still remains
hopeful that the current, ongoing communications with a number of funding sources, can lead to
a successful closing soon. The Company also wishes to notify shareholders that while the
Company has closed its downtown Toronto office to reduce costs, it is still maintaining ongoing
communications with its shareholders, and that they can contact Kerry Smith with any questions
they may have. Strike Minerals continues to be viable company with strong assets and a
positive outlook for the future."

I'm not finding the enthusiam infectious... and, if I had to place a bet, I'd bet that Waterton will own the whole ball of wax long before Strike raises enough money to dig out from under them.

[sense] Pro Minerals another MIA with no website that seems it has disappeared...

sense — 8/1/2014 4:45:07 AM

[sense] Probe, one of the few winners on the list thus far, is still making steady progr...

sense — 8/1/2014 4:42:13 AM

Probe, one of the few winners on the list thus far, is still making steady progress in developing Borden Lake, which is near Chapleau on Hwy 101, not in the Shining Tree district. They recently added another million and a half or more ounces of resources by defining a high grade underground potential. It was $0.05 or $0.06 back in 2009... now over $2... Raised $26 million this month, and just put out a new NI 43-101 compliant report:
probemines.com

[sense] Platinex hasn't traded shares in the U.S., and hasn't updated the website, since...

sense — 8/1/2014 4:25:08 AM

Platinex hasn't traded shares in the U.S., and hasn't updated the website, since November of 2013...

[sense] Ill-starred Golden Phoenix not dead yet... but no longer lists any Shining Tree ...

sense — 8/1/2014 4:05:46 AM

Ill-starred Golden Phoenix not dead yet... but no longer lists any Shining Tree property holdings on the webpage.

[sense] Golden Harp still has a website... but haven't posted news on it since 2011.

sense — 8/1/2014 3:54:26 AM

[sense] Gold Bullion signed a custom milling deal with IAMGOLD, which has nothing to do ...

sense — 8/1/2014 3:52:01 AM

Gold Bullion signed a custom milling deal with IAMGOLD, which has nothing to do with Shining Tree, but might be interesting to some here to note that IAG is trying to raise some additional $ by selling the use of otherwise unused capacity in their facilities in Quebec... as they're not producing enough ore to use them as efficiently as they otherwise might ?

goldbulliondevelopmentcorp.com

[sense] Creso was "absorbed" by the vulture capital guys at Dundee in April...

sense — 8/1/2014 3:43:23 AM

[sense] Adroit appears to have evaporated... nothing there now for a website... hasn't t...

sense — 8/1/2014 3:41:01 AM

Adroit appears to have evaporated... nothing there now for a website... hasn't traded as ADTFF since April.

Wonder what's happened to their quite large gathering of mineral properties between Shining Tree and "Timmins South" ?

[sense] Looks like they let go of a bunch of claims on the southeast side of the central...

sense — 4/18/2014 6:10:47 PM

Looks like they let go of a bunch of claims on the southeast side of the central axis ?

And, that probably makes sense... given the Lithiostratigraphic Assemblages shows that the displacement along the fault would have the interesting stuff on the west side of that fault being farther south, in what looks like it was Goldeye and Creso territory...

[niostargazer] Platinex Shining Tree Project Claim Map [graphic] Geological Subdivisions of O...

niostargazer — 4/18/2014 6:01:18 PM

Platinex Shining Tree Project Claim Map

Geological Subdivisions of Ontario

Lithiostratigraphic Assemblages of the Shining Tree Area

platinex.com

[niostargazer] "This year I plan on exploring the shining tree area fully." ontarioabandonedpl...

niostargazer — 4/8/2014 9:46:27 PM

"This year I plan on exploring the shining tree area fully."

ontarioabandonedplaces.com

[sense] Temex financing... a raise of $2.77 Million to fund exploration http://www.temex...

sense — 3/13/2014 6:02:51 AM

Temex financing... a raise of $2.77 Million to fund exploration
http://www.temexcorp.com/s/news.asp?ReportID=630533

[sense] Strike Minerals looks like yet another debt funded Waterton take down effort... ...

sense — 3/13/2014 6:00:01 AM

Strike Minerals looks like yet another debt funded Waterton take down effort... under forbearance since April, and under default since October.
strikeminerals.com

Their Shining Tree property right on the borderline between Churchill and MacMurchy:
strikeminerals.com

[sense] Pro Minerals... ? Website ? Listing ? SEDAR ? Gone ?

sense — 3/13/2014 5:50:55 AM

[sense] Link to Probe's high grade news on "results for its on-going drill program on th...

sense — 3/13/2014 5:41:39 AM

Link to Probe's high grade news on "results for its on-going drill program on the Company's Borden Gold project near Chapleau, Ontario"

probemines.com.

[sense] Golden Phoenix says: "Because of lack of funds and scaling back our operations,...

sense — 3/13/2014 5:16:58 AM

Golden Phoenix says: "Because of lack of funds and scaling back our operations, we have allowed certain of our mineral property claims interests to lapse, and we have abandoned projects in Nevada, Canada and Peru to focus on those properties which we believe have the best potential for success." The website no longer includes mention of any Shining Tree area properties... leaving it an open question, for now, what might have happened to the claims in the area that they'd previously held. http://www.goldenphoenix.us/

Looks like we should probably remove them from the Shining Tree Camp list...

[sense] Teck funding drilling at Constantine's Golden Mile property in Timmins: constan...

sense — 3/13/2014 5:09:29 AM

Teck funding drilling at Constantine's Golden Mile property in Timmins: constantinemetals.com

[sense] Creso being acquired by Dundee: creso.ca

sense — 3/13/2014 5:05:28 AM

[niostargazer] I can recognize Nora and Speed and the access road leading to the stripped areas...

niostargazer — 3/11/2014 10:21:10 PM

I can recognize Nora and Speed and the access road leading to the stripped areas. I believe Zone E is the only one that has been drilled to date? That would be the area from the SW of Speed Lake down along the access road

[Zilyunz] Looks very familiar. I could point out some things if it means anything to you.

Zilyunz — 3/11/2014 8:10:43 PM

[niostargazer] Shining Tree Bing Maps Highway 560 [graphic]

niostargazer — 3/2/2014 1:14:51 AM

Shining Tree Bing Maps Highway 560

[niostargazer] [graphic] [graphic] Platinex Shining Tree Project Geology [graphic]

niostargazer — 3/2/2014 12:54:57 AM

Platinex Shining Tree Project Geology

[niostargazer] Shining Tree Resources Gosselin Zone Apparent Resistivity Map Google Earth Overl...

niostargazer — 3/2/2014 12:48:01 AM

Shining Tree Resources Gosselin Zone Apparent Resistivity Map Google Earth Overlay

Shining Tree Resources Gosselin Zone Apparent Resistivity Map Google Earth Overlay

[niostargazer] [graphic] [graphic] [graphic]

niostargazer — 3/2/2014 12:28:26 AM

[sense] I do remember seeing the location data in the old stuff from a few years back. ...

sense — 3/1/2014 11:57:31 PM

I do remember seeing the location data in the old stuff from a few years back. There was also the issue of the X at the intersection of the Gosslin and another crossing fault... each introducing separate mineralization events giving at or near surface enrichment in both high grade vein and low grade bulk mineralization in the same zone.
Would also be interesting to see a layering of the snaps with the technical data... and the fault structures...

[niostargazer] "Gosselin Claims This property comprises several claims on either side of the bo...

niostargazer — 3/1/2014 9:53:24 PM

"Gosselin Claims This property comprises several claims on either side of the boundary between Asquith and Churchill just east of the 3 mile post On the northeast corner of WD 1151 stripping revealed several masses of quartz containing visible gold The quartz showed continuously in places for 30 or 40 feet and was 10 to 18 feet wide It is associated with a felsitic rock that weathers white on the surface This rock extends east three or four chains to the shore of a small lake Here quartz stringers cut the felsite in a very irregular fashion and in places constitute about one half of the rock In other places near the lake this rock is free from quartz and has a schistose structure On WD 1157 about three chains north of the township boundary near the east side of the chain an extensive outcrop of quartz occurs Stripping showed the quartz at intervals for six or seven chains running in a northwesterly direction Whene the most stripping had been done the quartz was exposed continuously for 2 chains running northwest and about 10 feet wide From the south end of this showing a trench running west exposed quartz with some schist for seventy feet Gold was seen in the quartz about 10 chains from the township boundary and close to the east line of the claim Just east from here on WD 1173 several irregular quartz masses have been stripped The largest one is about 45 feet in length and averages about 12 feet wide The felsite found on WD 1151 extends northward into WD 1157 for about three chains and contains some quartz but most of the quartz on the latter claim is contained in a much decomposed greenstone schistose in places and weathering very rusty These claims have the most extensive bodies of quartz so far found in the district and have attracted considerable attention Gold was first discovered in the district on this property "

books.google.com

[niostargazer] Will work on something. For now, found this one about the Shining Tree Resource...

niostargazer — 3/1/2014 9:37:31 PM

Will work on something. For now, found this one about the Shining Tree Resources Gosselin zone

The Gosselin vein crosses the Churchill and Asquith Township line and has a strike length of 1.25 miles and strikes north 15 degrees west. The width of the vein is 6 feet to 65 feet in the northern part of the vein. The rocks consist of Keewatin altered pillow lava and rusty weathering iron - magnesium - calcium carbonate cut by fesite or rhyolite and graniteporphry of the Algoman age. The gold-bearing veins occur in all these rocks and in some the contacts between the porphyry and older rocks. A large vertical quartz vein one to twenty feet wide has been uncovered in Asquith Township. The vein continues to the north in Churchill Township where the width is up to 65 feet wide.

Several large lenses were located in previous exploration programs, the largest of these quartz masses is 160 feet long and 65 feet wide at its broadest part, and contains a showing of gold. Directly to the west of this vein are parallel lenses in the schist, which carry visible gold. In the northern part of the property several large lenses of quartz containing gold occur in the felsite. Usually the veins in the felsite and also in the rusty carbonate are in form of numerous stringers distributed in an irregular manner. The quartz in these various deposits has a white or rose colour. The deposits are large, and portions of them are well mineralized and warrant further development.

Silica is also a major focus of this exploration program due to the size of this quartz deposit. The silica can be used in a base metal operation as flux in the smelting process. This would allow for low-grade ore to be mined not only for gold and silver but also profit from the sale of the silica. Another target of this program is the four known green carbonate zones located west of the Gosselin vein. They are up to 20 metres wide and have the strike length of over 2.4km striking North 15 - 20 degrees west and are well mineralized in places. Two blast pits were sunk in two of these zones and returned 1 gram/ton Au as best assay.

http://www.nirekresources.com/gosselin-veins.html