Perhaps chomping at the bit for months, Vancouver-based VR Resources Ltd. (TSX-Venture:VRR), was bursting at the seams Thursday to reveal that the first-pass drill program at its Ranoke copper-gold property in northern Ontario is now underway.
The property is centered on a 12-kilometre magnetic anomaly located along the western margin of the Kapuskasing structural zone in northern Ontario. The magnetic anomaly at Ranoke cross-cuts and/or disrupts regional basement fabrics. A 2.5 mGal gravity anomaly approximately four kilometres across within the magnetic complex at Ranoke delineates the target for a high-density iron oxide breccia body.
Said CEO Dr. Michael H. Gunning "The company has been working on Ranoke continuously for nearly a year, the target is both large and clearly defined from an integration across numerous surveys, and we are now ready to drill. With funds in hand from the recently completed financing, the Company will commence first-pass drilling before the winter freeze-up, providing easier access to water required for drilling.
"We will drill-test Ranoke with a balance of conviction and discipline, and we look forward to providing further updates as our drilling proceeds."
Shares grabbed gains of 1.5 cents, or 5.8%, to 27.5 cents, on volume of 60,000 shares
