vr confirms porphyry copper-gold mineralization at bonita ... - AWS
VR RESOURCES LTD. 1750 - 700 West Pender St. Vancouver, BC, Canada, V6C 1G8 Tel: 604-262-1104; [email protected] TSX.V: vrr; www.vrr.ca
VR CONFIRMS PORPHYRY COPPER-GOLD MINERALIZATION AT BONITA PROPERTY, NEVADA, AND PLANS FOLLOW-UP DRILLING IN 2018
NR-18-01
January 9, 2018, Vancouver, B.C.: VR Resources Ltd. (TSX.V: VRR, FSE: 5VR), the "Company", or “VR”, is pleased to announce the confirmation of porphyry-style copper-gold mineralization at its Bonita property in Humboldt County, Nevada. Plans are underway for follow-up drilling in 2018. A series of maps, drill sections and drill core photos are appended to this news release at www.vrr.ca/news, including copper and gold geochemistry which is shown in drill hole graphic logs, to illustrate the key exploration vectors obtained from this drill program, including:
Copper Queen: o Continuous alteration in Hole 1 for 505 m, spanning inner propylitic, phyllic and potassic facies in gabbro, sodic diorite, and porphyritic monzodiorite dykes, including 205 m of hydrothermal breccia, quartz-sulfide veins with local chalcopyrite veins and anomalous Cu-Au geochemistry; o Continuous alteration in Hole 4 for 689 m, spanning inner propylitic, phyllic and potassic alteration facies in gabbro, sodic diorite, and porphyritic monzodiorite dykes, including 339 m of iron carbonate silica-specularite and silica-sulfide hydrothermal breccia facies with local Cu-Au geochemical anomalies throughout; Hemco: Continuous and pervasive alteration in Hole 3 for 306 m, spanning sodic and phyllic facies in sodic diorite and monzodiorite dykes; specularite vein breccia and disseminated iron oxide are throughout the hole; copper veins occur locally both near surface and at depth in the hole.
This initial-phase drill program has confirmed the key attributes of the porphyry hydrothermal system delineated during the past three years of surface exploration at Bonita, the vertical extent of pervasive alteration facies mapped across the 6 kilometre width of the system (see cross section on page 2 of appended figures to this news release), and the association of copper and gold mineralization (see graphic drill logs on pages 7, 10 and 18 of the figures appended to this news release). Four drill holes were completed in the fall 2017 drill program, for a total of 1871 m. Pervasive and continuous alteration intersected from the top to the bottom of drill holes 1, 3 and 4 dictated extensive geochemical sampling on a continuous basis. A total of 871 samples were taken, normally on successive 1.5 metre intervals. There is a strong correlation between anomalous gold and copper geochemistry in all drill holes, consistent with the alkaline affinity of the Bonita igneous complex based on whole-rock geochemistry. Plans are now underway for follow-up drilling at Bonita in 2018. Priorities include: A drill hole 200 metres west of Hole 4 at Copper Queen, targeting the potassic altered core of the inner-propylitic alteration in Hole 4, and below surface geochemical anomalies at the 1936 mine; A drill hole 300 metres south of Hole 3 at Hemco, targeting the potassic altered core to the pervasive phyllic alteration in Hole 3, and at the center of a large (1,000m diameter) resistivity high anomaly. Exploration targets yet to be drill tested at Bonita and to be considered for this program include: The strongest and broadest IP chargeability anomaly at Bonita: the Whiskey Bottle Breccia target located some 1.5 kilometres south of Copper Queen, and; The strongest polymetallic copper-moly-lead geochemical anomaly at Bonita: the Corral target located a further 2.5 kilometres south of Whiskey Bottle. Commenting on the news today, VR’s CEO Dr. Gunning emphasized: “Results of the 2017 drill program confirm the porphyry copper-gold model for the district-scale hydrothermal footprint at Bonita. Follow-up
VR RESOURCES LTD. 1750 - 700 West Pender St. Vancouver, BC, Canada, V6C 1G8 Tel: 604-262-1104; [email protected] TSX.V: vrr; www.vrr.ca
drilling in 2018 will pursue the strong exploration vectors evident in drill core with respect to alteration intensity, copper sulfide vein intensity, copper-gold geochemistry at both Copper Queen and Hemco. The 2017 drill program has moved us closer to realizing an unusual discovery-based value creation potential for our shareholders given the scale of the Bonita system and its direct age and tectonic correlation to the pastproducing Yerington porphyry copper camp in central Nevada, combined with the current strength of the global copper sector and the stable regulatory framework Nevada provides for exploration and mining.” The drilling planned for Bonita in 2018 can be facilitated by a simple amendment to VR’s existing drill permit. About the Bonita Property The Bonita property is located in Humboldt County in northwestern Nevada, USA, approximately 200 km northeast of Reno, and 75 km northwest of the town of Winnemucca. The Bonita property is large, consisting of one contiguous block of 429 claims totaling 3,586 ha (8,862 acres), covering an area of approximately 5 x 6 kilometres. The property was acquired directly by staking, upon introduction to the historic workings of copper-gold iron oxide breccias in the region by prospector Ron Berdahl. It is owned 100% by VR, free and clear of any interests or royalties. The property is on land administered by the federal BLM. VR has conducted successive exploration programs at Bonita for the past three years, culminating in first pass drilling in 2017. There is very good road access both to, and within, the Bonita property, and there is railroad and powerline infrastructure approximately 20 kilometres to the south. Bonita is located in desert-like basin and range physiography, affording nearly year-round working conditions. Vegetation is sparse, and there are no towns or settlements near the property. The Bonita property continues to be the primary focus of the Company’s copper-gold exploration strategy in Nevada. The property is large, encompassing a district of historic copper, gold and iron workings over an area of about 4 x 5 kilometers. An even larger alteration footprint which is clearly delineated by airborne magnetic and hyperspectral surveys, and refined by detailed geological mapping includes outer propyllitic, argillic, sodic, and phyllic alteration zones, with silica-specularite and iron-carbonate – chlorite hydrothermal breccia bodies (dykes and diatremes) at several locations. Bonita is a mafic alkaline, polyphase middle Jurassic batholith that is the same age as the past-producing Yerington porphyry copper camp located some 150 kilometers to the south, in west-central Nevada. VR completed an independent NI 43-101 compliant Technical Report in January, 2017. Technical Information Samples for geochemistry are submitted to the ALS Global facilities in Reno, Nevada, with final analytical work done at the ALS laboratories located in Vancouver, BC., including ICP-MS analyses for base metals and trace elements, and gold determination by atomic absorption assay. Industry-standard and NI 43-101 compliant QAQC sampling procedures including systematic insertion of sample duplicates and standards was established and practiced on-site and throughout the program by the Company’s Principal Geologist. Technical information for this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101, and reviewed on behalf of the Company by Dr. Michael Gunning P.Geo., a non-independent Qualified Person.
VR RESOURCES LTD. 1750 - 700 West Pender St. Vancouver, BC, Canada, V6C 1G8 Tel: 604-262-1104; [email protected] TSX.V: vrr; www.vrr.ca
About VR Resources VR Resources Ltd. (“VR”) is a new listing in the junior exploration space (TSX.V: VRR; Frankfurt: 5VR). The diverse experience and proven track record of its Board in early-stage exploration and discovery is the foundation of VR. The Company is focused on exploring large copper-gold mineral systems in the western United States. VR is the continuance of 4 years of active exploration in Nevada by a Vancouver-based private exploration company. VR is well financed for its exploration strategy. VR owns its exploration assets outright, and will evaluate new opportunities on an ongoing basis, whether by staking or acquisition. ON BEHALF OF THE BOARD OF DIRECTORS: “Michael H. Gunning” ________________________ Michael H. Gunning, PhD, PGeo President & CEO For general information please use the following: Website: www.vrr.ca Email: [email protected] Phone: 604-262-1104
Renmark Financial Communications Inc. Barry Mire, Account Manager for VR: E-mail: [email protected] Tel.: (416) 644-2020 or (514) 939-3989 Website: www.renmarkfinancial.com
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 but are not limited to: the drilling planned for Bonita in 2018; discovery-based value creation potential for our shareholders. 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
Attributes of the Bonita Porphyry Cu-Au System ______________________
Robust Targets 3 Years of Integrated Surface Exploration Data
Large Individual Targets Dimensions Akin to Porphyry Deposits
Numerous Targets with Consistent Attributes
District-Scale Footprint 7x7 km
Middle Jurassic Age Yerington Camp
Alkaline Affinity Cu-Au Association
3
1 2
Bonita Property Legend IP anomaly with Gravity Low IP anomaly with Gravity High
4
(DDHs numbered 1-4)
Integrated Exploration target (gravity, magnetics)
1
Bonita is a Polyphase, Middle Jurassic, Mafic Alkaline Igneous Complex with Mul�ple Targets for Copper-Gold Porphyry Stocks Legend Topography Range Faults
Name Qz-Cu Vein
Alteration Type Propylitic Argillic Phyllic Hem-Sil Sodic Potassic
HT Breccias Unit Hbx1 Hbx2
Geology Unit Q-ba Q-al K-vol J-md J-por J-sd J-gb
2700 2600 2500 2400 2300 2200 2100 2000 1900 1800 1700 1600 1500 1400 1300 1200 1100 1000 900 800 700 600 500 400 300 200
W
E
6 km
Jgb
Copper Queen Jsd
Jmd
Bonita South
Hemco
BN-03 Hobbit
Gabbro
Sodic Diorite
500
1000
1500
2000
BN-04
BN-02
Iron Chief
2500
3000
3500
4000
4500
5000
5500
6000
6500
Elevation
2700 m 2600 2500 2400 2300 2200 2100 2000 1900 1800 1700 1600 1500 1400 1300 1200 1100 1000 900 800 700 600 500 400 300 200
10v:8h
East-West Schema�c Cross-sec�on Across Bonita Property Diamond Drill Hole Positions from 2017 Drill Program Age Date Samples, U-Pb, on 3 Plutonic Phases, Range from 160.82 +/- 0.98 Ma to 165.74 +/- 0.61 Ma Circular/Oblate Geophysical Anomalies (Gravity & Magnetic Lows); Expression of Buried Porphyry Stock
2
Gravity Low
3
Sheeted Quartz Veins in Argillic-Altered Dykes with Pervasive Albite-rich Lithocap Overprint
Copper Queen Target Sheeted Quartz Veins Cracked by Fe-Carb Veins in Gabbro with Pervasive Phyllic Alteration
Gravity & Magnetic low; Fe-Carb hyd. breccia Planned for 2018
BN-17-001: IP Anomaly
1936 Cu Workings
Geochem Anomaly Zone Peripheral To Magnetic-Gravity Anomaly: High Pb & Zn; High Temp. Bi-W-Tl
Magnetic, Propyllitic Gabbro
400m
BN-17-004; Resistivity High; Inner Propyllitic Alteration
Iron Chief Massive Iron Oxide Breccia
4
Copper Queen Target Sheeted quartz-sericite veins in phyllic gabbro with pervasive albite (75%), Fe-carbonate, minor sericite and hematite; ridge above DDH BN-17-001
5
Copper Queen Target Phyllic alteration of gabbro with pervasive sericite and hematite and sheeted crack-seal quartz veins (Fe-carb veinfill); sample from Collar of DDH BN-17-001
Potassic alteration of sodic diorite fragments; Iron oxide HBX, Iron Chief Working
6
Au (ppb) 2.5 Cu (ppm) 0
12.5 400
17.5 600
1800 1700 1600 1500 1450
Legend *
Topography
1400
1400
1450
1500
Elevation (m)
1550
1550
1600
1650
1650
1700
Lith Alt
7.5 200
E
1750
W
1750
1800
BN-17-001 Graphic Log and Cu-Au Geochemistry
Lithology Log Jmd Jsd
1350
1350
HBX
Alteration Log Phyllic Propyllitic
1300
1300
Jgb
HBX Jmd
1250
1250
Wk Potassic
Geology Interp
Jgb
7
Copper Queen Target Chalcopyrite-pyrite veins in hydrothermally brecciated sodic diorite with pervasive phyllic alteration; 204 m, DDH BN-17-001
8
Copper Queen Target Vein stockworks related to porphyrtic monzodiorite dykes intruding gabbro with pervasive albite alteration, 402 ppm Cu at contact; 75 m, DDH BN-17-001
9
Detailed Schematic Cross-Section of Copper Queen Porphyry Target, BN-17-004 Cu-Au Geochemistry
W
E “1936” Cu Mine 2018 Follow-up DDH 400 ppm Cu 22.5 ppb Au
200 ppm Cu 12.5 ppb Au
BN-17-004
Legend Gravity and Magnetic Lows Diamond Drill Hole Normal Faults
Jmd -
Jurassic Monzodiorite Porphyry Dyke and Stock
Jsd -
Jurassic Sodic Diorite
Jgb -
Jurassic Gabbro
Outer Propylitic (ab-chl-ep-carb-hem) Inner Propylitic (ab-act-chl-ep-hem-qz-carb) Alkalic Lithocap (ab-ser-hem-qz-carb) Hydrothermal BX and Vein Stk (qz-hem-cly) Phyllic (ser-ab-qz-py-hem)
689.5 m
Hydrothermal BX and Vein Stk (qz-ser-py) Outer Calc-Potassic (Kf-chl-bt-ab-act-qz-cpy) Inner Calc-Potassic (bt-act-mt-Kf-ab-ab-qz-bn)
200
400 m
10
Copper Queen Target Hematite stained quartz-pyrite-scapolite miarolitic cavity in pervasive sodic-propylitic alteration of diorite; 179 m, DDH BN-17-004
11
Copper Queen Target Hydrothermal breccia with sulfide veins in gabbro; innerpropylitic to phyllic alteration; 484 m, DDH BN-17-004
12
Copper Queen Target Quartz-albite-pyrite veins in gabbro with pervasive intense phyllic alteration; 147 m, DDH BN-17-004
13
Copper Queen Target Multi-stage silica - sulfide brecciation in intense phyllic altered gabbro; 587 m, DDH BN-17-004
14
14
Bonita Property: Hemco Target
5.53%
Hobbit 0.43%
Bonita Spring
1.58% 2.4%
BN-17-003
Line 1080 Legend
0.13%
4.49%
0.41% 0.12%
Bonita Property Workings Roads
Drill Collars Complete in 2017
0.07%
8.59%
Hemco
Follow-up in 2018 Drill Trace
Drill Roads
0.93%
Built Planned
Rock Samples, VR: Cu 2.3 ppm 50 ppm 250 ppm 0.5 % 1.5 % VR, 2017; IP Anomalies VR, 2016; Ground Gravity CBA270res Anomalous Highs +10% 0
VR, 2017; Airborne ZTEM YIP 90Hz
0
Hemco South
-10%
125
250
500 Meters
3D ZTEM Inversion: Resistivity Section for Line 1080 2018 Follow-up Hole
Surface
500 m
1000 m
15
Hemco Target Specularite-quartz-tetrahedite vein stockwork in pervasive albite alteration of monzodiorite dyke. 16
Hemco Target Silica-iron oxide hydrothermal breccia, phyllic altered sodic diorite fragments. Abundant outcrops ring the km-scale ZTEM anomaly.
17
1600 1550
Sample # 474017; 4.49 % Cu, 0.45 g/t Au
1350
1350
1400
1400
Elevation (m)
1450
1450
1500
1500
Alt
E Cu ppm 1000 pb Au p 12.5
Lith
W Cu ppm 500 b Au p 7.5 p
1550
1600
BN-17-003 Graphic Log and Cu-Au Geochemistry
Legend Lithology Log Jmd
1300
1300
HBX Jsd
Alteration Log Sodic Phyllic Propyllitic
1250
1250
Potassic
Geology Interp Sil BX Jmd
307m
Spec BX
1200
1200
Jsd
18
Hemco Target Oxidized copper sulfide – specularite vein stockworks near surface in pervasive phyllic alteration of sodic diorite; 25 m; DDH BN-17-003
19
Hemco Target Hydrothermal vein breccia (silica-sulfide-specularite-iron carbonate) in pervasive phyllic alteration of sodic diorite with disseminated chalcopyrite; 300 m; DDH BN-17-003
20
VR CONFIRMS PORPHYRY COPPER-GOLD MINERALIZATION AT BONITA PROPERTY, NEVADA, AND PLANS FOLLOW-UP DRILLING IN 2018
NR-18-01
January 9, 2018, Vancouver, B.C.: VR Resources Ltd. (TSX.V: VRR, FSE: 5VR), the "Company", or “VR”, is pleased to announce the confirmation of porphyry-style copper-gold mineralization at its Bonita property in Humboldt County, Nevada. Plans are underway for follow-up drilling in 2018. A series of maps, drill sections and drill core photos are appended to this news release at www.vrr.ca/news, including copper and gold geochemistry which is shown in drill hole graphic logs, to illustrate the key exploration vectors obtained from this drill program, including:
Copper Queen: o Continuous alteration in Hole 1 for 505 m, spanning inner propylitic, phyllic and potassic facies in gabbro, sodic diorite, and porphyritic monzodiorite dykes, including 205 m of hydrothermal breccia, quartz-sulfide veins with local chalcopyrite veins and anomalous Cu-Au geochemistry; o Continuous alteration in Hole 4 for 689 m, spanning inner propylitic, phyllic and potassic alteration facies in gabbro, sodic diorite, and porphyritic monzodiorite dykes, including 339 m of iron carbonate silica-specularite and silica-sulfide hydrothermal breccia facies with local Cu-Au geochemical anomalies throughout; Hemco: Continuous and pervasive alteration in Hole 3 for 306 m, spanning sodic and phyllic facies in sodic diorite and monzodiorite dykes; specularite vein breccia and disseminated iron oxide are throughout the hole; copper veins occur locally both near surface and at depth in the hole.
This initial-phase drill program has confirmed the key attributes of the porphyry hydrothermal system delineated during the past three years of surface exploration at Bonita, the vertical extent of pervasive alteration facies mapped across the 6 kilometre width of the system (see cross section on page 2 of appended figures to this news release), and the association of copper and gold mineralization (see graphic drill logs on pages 7, 10 and 18 of the figures appended to this news release). Four drill holes were completed in the fall 2017 drill program, for a total of 1871 m. Pervasive and continuous alteration intersected from the top to the bottom of drill holes 1, 3 and 4 dictated extensive geochemical sampling on a continuous basis. A total of 871 samples were taken, normally on successive 1.5 metre intervals. There is a strong correlation between anomalous gold and copper geochemistry in all drill holes, consistent with the alkaline affinity of the Bonita igneous complex based on whole-rock geochemistry. Plans are now underway for follow-up drilling at Bonita in 2018. Priorities include: A drill hole 200 metres west of Hole 4 at Copper Queen, targeting the potassic altered core of the inner-propylitic alteration in Hole 4, and below surface geochemical anomalies at the 1936 mine; A drill hole 300 metres south of Hole 3 at Hemco, targeting the potassic altered core to the pervasive phyllic alteration in Hole 3, and at the center of a large (1,000m diameter) resistivity high anomaly. Exploration targets yet to be drill tested at Bonita and to be considered for this program include: The strongest and broadest IP chargeability anomaly at Bonita: the Whiskey Bottle Breccia target located some 1.5 kilometres south of Copper Queen, and; The strongest polymetallic copper-moly-lead geochemical anomaly at Bonita: the Corral target located a further 2.5 kilometres south of Whiskey Bottle. Commenting on the news today, VR’s CEO Dr. Gunning emphasized: “Results of the 2017 drill program confirm the porphyry copper-gold model for the district-scale hydrothermal footprint at Bonita. Follow-up
VR RESOURCES LTD. 1750 - 700 West Pender St. Vancouver, BC, Canada, V6C 1G8 Tel: 604-262-1104; [email protected] TSX.V: vrr; www.vrr.ca
drilling in 2018 will pursue the strong exploration vectors evident in drill core with respect to alteration intensity, copper sulfide vein intensity, copper-gold geochemistry at both Copper Queen and Hemco. The 2017 drill program has moved us closer to realizing an unusual discovery-based value creation potential for our shareholders given the scale of the Bonita system and its direct age and tectonic correlation to the pastproducing Yerington porphyry copper camp in central Nevada, combined with the current strength of the global copper sector and the stable regulatory framework Nevada provides for exploration and mining.” The drilling planned for Bonita in 2018 can be facilitated by a simple amendment to VR’s existing drill permit. About the Bonita Property The Bonita property is located in Humboldt County in northwestern Nevada, USA, approximately 200 km northeast of Reno, and 75 km northwest of the town of Winnemucca. The Bonita property is large, consisting of one contiguous block of 429 claims totaling 3,586 ha (8,862 acres), covering an area of approximately 5 x 6 kilometres. The property was acquired directly by staking, upon introduction to the historic workings of copper-gold iron oxide breccias in the region by prospector Ron Berdahl. It is owned 100% by VR, free and clear of any interests or royalties. The property is on land administered by the federal BLM. VR has conducted successive exploration programs at Bonita for the past three years, culminating in first pass drilling in 2017. There is very good road access both to, and within, the Bonita property, and there is railroad and powerline infrastructure approximately 20 kilometres to the south. Bonita is located in desert-like basin and range physiography, affording nearly year-round working conditions. Vegetation is sparse, and there are no towns or settlements near the property. The Bonita property continues to be the primary focus of the Company’s copper-gold exploration strategy in Nevada. The property is large, encompassing a district of historic copper, gold and iron workings over an area of about 4 x 5 kilometers. An even larger alteration footprint which is clearly delineated by airborne magnetic and hyperspectral surveys, and refined by detailed geological mapping includes outer propyllitic, argillic, sodic, and phyllic alteration zones, with silica-specularite and iron-carbonate – chlorite hydrothermal breccia bodies (dykes and diatremes) at several locations. Bonita is a mafic alkaline, polyphase middle Jurassic batholith that is the same age as the past-producing Yerington porphyry copper camp located some 150 kilometers to the south, in west-central Nevada. VR completed an independent NI 43-101 compliant Technical Report in January, 2017. Technical Information Samples for geochemistry are submitted to the ALS Global facilities in Reno, Nevada, with final analytical work done at the ALS laboratories located in Vancouver, BC., including ICP-MS analyses for base metals and trace elements, and gold determination by atomic absorption assay. Industry-standard and NI 43-101 compliant QAQC sampling procedures including systematic insertion of sample duplicates and standards was established and practiced on-site and throughout the program by the Company’s Principal Geologist. Technical information for this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101, and reviewed on behalf of the Company by Dr. Michael Gunning P.Geo., a non-independent Qualified Person.
VR RESOURCES LTD. 1750 - 700 West Pender St. Vancouver, BC, Canada, V6C 1G8 Tel: 604-262-1104; [email protected] TSX.V: vrr; www.vrr.ca
About VR Resources VR Resources Ltd. (“VR”) is a new listing in the junior exploration space (TSX.V: VRR; Frankfurt: 5VR). The diverse experience and proven track record of its Board in early-stage exploration and discovery is the foundation of VR. The Company is focused on exploring large copper-gold mineral systems in the western United States. VR is the continuance of 4 years of active exploration in Nevada by a Vancouver-based private exploration company. VR is well financed for its exploration strategy. VR owns its exploration assets outright, and will evaluate new opportunities on an ongoing basis, whether by staking or acquisition. ON BEHALF OF THE BOARD OF DIRECTORS: “Michael H. Gunning” ________________________ Michael H. Gunning, PhD, PGeo President & CEO For general information please use the following: Website: www.vrr.ca Email: [email protected] Phone: 604-262-1104
Renmark Financial Communications Inc. Barry Mire, Account Manager for VR: E-mail: [email protected] Tel.: (416) 644-2020 or (514) 939-3989 Website: www.renmarkfinancial.com
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 but are not limited to: the drilling planned for Bonita in 2018; discovery-based value creation potential for our shareholders. 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
Attributes of the Bonita Porphyry Cu-Au System ______________________
Robust Targets 3 Years of Integrated Surface Exploration Data
Large Individual Targets Dimensions Akin to Porphyry Deposits
Numerous Targets with Consistent Attributes
District-Scale Footprint 7x7 km
Middle Jurassic Age Yerington Camp
Alkaline Affinity Cu-Au Association
3
1 2
Bonita Property Legend IP anomaly with Gravity Low IP anomaly with Gravity High
4
(DDHs numbered 1-4)
Integrated Exploration target (gravity, magnetics)
1
Bonita is a Polyphase, Middle Jurassic, Mafic Alkaline Igneous Complex with Mul�ple Targets for Copper-Gold Porphyry Stocks Legend Topography Range Faults
Name Qz-Cu Vein
Alteration Type Propylitic Argillic Phyllic Hem-Sil Sodic Potassic
HT Breccias Unit Hbx1 Hbx2
Geology Unit Q-ba Q-al K-vol J-md J-por J-sd J-gb
2700 2600 2500 2400 2300 2200 2100 2000 1900 1800 1700 1600 1500 1400 1300 1200 1100 1000 900 800 700 600 500 400 300 200
W
E
6 km
Jgb
Copper Queen Jsd
Jmd
Bonita South
Hemco
BN-03 Hobbit
Gabbro
Sodic Diorite
500
1000
1500
2000
BN-04
BN-02
Iron Chief
2500
3000
3500
4000
4500
5000
5500
6000
6500
Elevation
2700 m 2600 2500 2400 2300 2200 2100 2000 1900 1800 1700 1600 1500 1400 1300 1200 1100 1000 900 800 700 600 500 400 300 200
10v:8h
East-West Schema�c Cross-sec�on Across Bonita Property Diamond Drill Hole Positions from 2017 Drill Program Age Date Samples, U-Pb, on 3 Plutonic Phases, Range from 160.82 +/- 0.98 Ma to 165.74 +/- 0.61 Ma Circular/Oblate Geophysical Anomalies (Gravity & Magnetic Lows); Expression of Buried Porphyry Stock
2
Gravity Low
3
Sheeted Quartz Veins in Argillic-Altered Dykes with Pervasive Albite-rich Lithocap Overprint
Copper Queen Target Sheeted Quartz Veins Cracked by Fe-Carb Veins in Gabbro with Pervasive Phyllic Alteration
Gravity & Magnetic low; Fe-Carb hyd. breccia Planned for 2018
BN-17-001: IP Anomaly
1936 Cu Workings
Geochem Anomaly Zone Peripheral To Magnetic-Gravity Anomaly: High Pb & Zn; High Temp. Bi-W-Tl
Magnetic, Propyllitic Gabbro
400m
BN-17-004; Resistivity High; Inner Propyllitic Alteration
Iron Chief Massive Iron Oxide Breccia
4
Copper Queen Target Sheeted quartz-sericite veins in phyllic gabbro with pervasive albite (75%), Fe-carbonate, minor sericite and hematite; ridge above DDH BN-17-001
5
Copper Queen Target Phyllic alteration of gabbro with pervasive sericite and hematite and sheeted crack-seal quartz veins (Fe-carb veinfill); sample from Collar of DDH BN-17-001
Potassic alteration of sodic diorite fragments; Iron oxide HBX, Iron Chief Working
6
Au (ppb) 2.5 Cu (ppm) 0
12.5 400
17.5 600
1800 1700 1600 1500 1450
Legend *
Topography
1400
1400
1450
1500
Elevation (m)
1550
1550
1600
1650
1650
1700
Lith Alt
7.5 200
E
1750
W
1750
1800
BN-17-001 Graphic Log and Cu-Au Geochemistry
Lithology Log Jmd Jsd
1350
1350
HBX
Alteration Log Phyllic Propyllitic
1300
1300
Jgb
HBX Jmd
1250
1250
Wk Potassic
Geology Interp
Jgb
7
Copper Queen Target Chalcopyrite-pyrite veins in hydrothermally brecciated sodic diorite with pervasive phyllic alteration; 204 m, DDH BN-17-001
8
Copper Queen Target Vein stockworks related to porphyrtic monzodiorite dykes intruding gabbro with pervasive albite alteration, 402 ppm Cu at contact; 75 m, DDH BN-17-001
9
Detailed Schematic Cross-Section of Copper Queen Porphyry Target, BN-17-004 Cu-Au Geochemistry
W
E “1936” Cu Mine 2018 Follow-up DDH 400 ppm Cu 22.5 ppb Au
200 ppm Cu 12.5 ppb Au
BN-17-004
Legend Gravity and Magnetic Lows Diamond Drill Hole Normal Faults
Jmd -
Jurassic Monzodiorite Porphyry Dyke and Stock
Jsd -
Jurassic Sodic Diorite
Jgb -
Jurassic Gabbro
Outer Propylitic (ab-chl-ep-carb-hem) Inner Propylitic (ab-act-chl-ep-hem-qz-carb) Alkalic Lithocap (ab-ser-hem-qz-carb) Hydrothermal BX and Vein Stk (qz-hem-cly) Phyllic (ser-ab-qz-py-hem)
689.5 m
Hydrothermal BX and Vein Stk (qz-ser-py) Outer Calc-Potassic (Kf-chl-bt-ab-act-qz-cpy) Inner Calc-Potassic (bt-act-mt-Kf-ab-ab-qz-bn)
200
400 m
10
Copper Queen Target Hematite stained quartz-pyrite-scapolite miarolitic cavity in pervasive sodic-propylitic alteration of diorite; 179 m, DDH BN-17-004
11
Copper Queen Target Hydrothermal breccia with sulfide veins in gabbro; innerpropylitic to phyllic alteration; 484 m, DDH BN-17-004
12
Copper Queen Target Quartz-albite-pyrite veins in gabbro with pervasive intense phyllic alteration; 147 m, DDH BN-17-004
13
Copper Queen Target Multi-stage silica - sulfide brecciation in intense phyllic altered gabbro; 587 m, DDH BN-17-004
14
14
Bonita Property: Hemco Target
5.53%
Hobbit 0.43%
Bonita Spring
1.58% 2.4%
BN-17-003
Line 1080 Legend
0.13%
4.49%
0.41% 0.12%
Bonita Property Workings Roads
Drill Collars Complete in 2017
0.07%
8.59%
Hemco
Follow-up in 2018 Drill Trace
Drill Roads
0.93%
Built Planned
Rock Samples, VR: Cu 2.3 ppm 50 ppm 250 ppm 0.5 % 1.5 % VR, 2017; IP Anomalies VR, 2016; Ground Gravity CBA270res Anomalous Highs +10% 0
VR, 2017; Airborne ZTEM YIP 90Hz
0
Hemco South
-10%
125
250
500 Meters
3D ZTEM Inversion: Resistivity Section for Line 1080 2018 Follow-up Hole
Surface
500 m
1000 m
15
Hemco Target Specularite-quartz-tetrahedite vein stockwork in pervasive albite alteration of monzodiorite dyke. 16
Hemco Target Silica-iron oxide hydrothermal breccia, phyllic altered sodic diorite fragments. Abundant outcrops ring the km-scale ZTEM anomaly.
17
1600 1550
Sample # 474017; 4.49 % Cu, 0.45 g/t Au
1350
1350
1400
1400
Elevation (m)
1450
1450
1500
1500
Alt
E Cu ppm 1000 pb Au p 12.5
Lith
W Cu ppm 500 b Au p 7.5 p
1550
1600
BN-17-003 Graphic Log and Cu-Au Geochemistry
Legend Lithology Log Jmd
1300
1300
HBX Jsd
Alteration Log Sodic Phyllic Propyllitic
1250
1250
Potassic
Geology Interp Sil BX Jmd
307m
Spec BX
1200
1200
Jsd
18
Hemco Target Oxidized copper sulfide – specularite vein stockworks near surface in pervasive phyllic alteration of sodic diorite; 25 m; DDH BN-17-003
19
Hemco Target Hydrothermal vein breccia (silica-sulfide-specularite-iron carbonate) in pervasive phyllic alteration of sodic diorite with disseminated chalcopyrite; 300 m; DDH BN-17-003
20
