What next for VR Resources & Silverback?

What did we learn this week from VR Resources about its Silverback gold play in northwestern Ontario?

(YouTube Audio)

VR Resources Ltd (VRR-V): Bottom-Fish Spec Value rated Favorite - JK owns

VR Resources Ltd released results on March 26, 2025 for its winter drill program at the Silverback project in northwestern Ontario which dashed hopes for in instant Hemlo or Hammond Reef scale gold discovery. The program, started on January 28, was plagued by freezing water lines which prompted management to limit the length of holes to a couple hundred meters for a total of 1,342 m in 5 holes of which 3 were drilled into the Central Zone (CZ) IP chargeability anomaly in the middle of the target area and 2 drilled 1,400 m to the northeast into a 6 channel EM conductor. Anomalous gold up to 160 ppb was encountered within the intensely sheared portions of each hole, but that does not signal discovery. The market reacted negatively to the news and the stock will have to undergo a shareholder renewal phase where those seeking instant gratification get replaced by shareholders with a longer time horizon. VRR remains a Bottom-Fish Spec Value rated Favorite. The new focus on northwestern Ontario represented by the Silverback and Empire projects remain VRR's priority, but it will take a summer of target generation work before funding for new drill programs becomes possible. However, that does not mean VRR is short term "dead money" because its copper and gold projects in Nevada could steal back the limelight while we wait for surface geochemistry in the form of trenching and till sampling to make Silverback drill ready.