Transcript
good morning i'm mike gunning i'm the ceo at vr resources a junior mineral exploration company listed here in vancouver on the venture exchange vrr.v vr put out a news release a couple of days ago and we're just going to take a couple of minutes here to make sure our shareholders understand the importance of the news release the headline title was about the fact that we have our permit from the u.s forest service that's important it means we can start to plan our drill program for our amsoil gold project in nevada but the news released the second half of the news release also had some important data that i want to make sure people understand about the context of this drill program and really it's about the age of the ansel system there's some new geochronology by vr the tagline for vr is expertise and innovation and exploration i want this company to be using new tools to make new discoveries and we've determined that the age of amsoil at 26 million years is essentially the exact same age as the round mountain gold deposits in the north why is that important for our shareholders and for this drill program the walker lane belt in nevada is world famous for the past 150 years for gold and silver for essentially two reasons initially the discovery of the famous comstock load 1850s uh production of more than 200 million ounces of silver 8 million ounces of gold in the next 20 years followed by the discovery of round mountain in the early 1900s round mountain now has more than 120 years of production under its belt it has surpassed 20 million ounces it's 40 kilometers north of amstel and we now know that amsel is exactly the same age so it helps address the question what is the upside potential of this drill program and the answer is could amsel be the answer to the question where is the next round mountain deposit coming from in the walker lane where is the next comstock load coming from perhaps the answer is absolute we now know it's exactly the same age you can see the data and figure three in the newsrooms but there's a lot else about the geology and exploration that we explained in this news release that i want to make sure people understand it's not just the age you can see the potassium alteration footprint in figure one potassium alteration is a hallmark signature of both comstock and round mountain a mineral called agile area that you can see in figure two in this news release we know these are the key signature for amsel we also know there is pyrite as you can see in figure two pyrite correlates with gold along the 20 kilometer trend of our big ten project pyrite or lights would go and round mountain in these low sulfidation epithelial systems we also know if you look on figure three not only are the two calderas 45 kilometers apart the same age but look where round mountain and ansel occur they both occur on the western margin but essentially the volcano 26 million years ago close to the basement rocks they also both have a capping rock on top of a welded two and perhaps that's important because that capping rock helps you constrain the fluids keep them in one place maybe that's how you produce 20 million ounces of gold on round mountain buy that focusing this news release is important we can start to plan this drill program we've got our permit it's also important to know that on a risk reward profile all my shareholders know vr does not spend its money randomly especially in this world of hyperinflation and when you look at profile risk-reward an investor in mineral exploration risk is about capital risk and unfortunately all drill holes cost the same they're expensive in this day and age it doesn't matter what you're drilling i can't control that cost what i can control is what is the upside that's how you affect the steepness of that risk award profile what if the new data in this news release showing you that amsoil is the same age as round mountains the same style of potassium alteration but what was going on around mountain 26 million years ago to give you those 20 million ounces of gold what if that was happening at amsel at the same time what if that's what that large ip anomaly in figure one is with the pyrite that's the upside potential of this drill program that's the steepness of the risk of lower profile that's why the real permit is important and we will keep you posted as our communication with the drill companies carries on and i can let you know exactly when we can uh run this drill program and let me just leave by reminding my shareholders although there was cursory work done at ansel in the 1970s that idea only that you see in figure one not being the pirate which is essentially nothing potentially the gold it has never been drilled before and this will be literally the first drill program into the heart this low sulfidation thyroid aguilera system that is the same age as the round mountain deposit 40 kilometers to the milk please stay tuned and we'll let you know when we can actually execute on the stroke program thank you
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