(TheNewswire)
April 10, 2024, TheNewswire, Vancouver, B.C.: VR Resources Ltd.(TSX.V: VRR, FSE: 5VR ; OTCQB: VRRCF ), the" Company ", or“ VR ”, is pleased toannounce that the drill is turning on its maiden drill program on itsNew Boston polymetallic copper-moly-silver porphyry system inwest-central Nevada (see photo in Figure 1 ).
The program is planned around 2 – 4 drill holes, for between 1,500and 2,000 metres in total, projected to take approximately one monthto complete, with assays expected through May and June.
Water supply, heavy equipment services, and camp are all located justsix kilometres from the drill, with access off state highway I95.
Strategy
The drill program is the result of two years of field-based mappingand sampling by VR, and the utilization of four, state-of-the-artgeophysical surveys completed in succession, and utilizingtechnologies not available during the main period of exploration atNew Boston from the mid–1960s through the late 1970s. For example,this drill program will focus on the new, East Zone conductor asdelineated by the 3D array, DCIP survey completed in 2023 (see Figure 2 ).
Historic drill holes located to both the east and the south of thewest-plunging East Zone conductor are peripheral in nature, based on:conductivity anomaly; potassic alteration; hyperspectral mineralogy,and; surface copper and trace element geochemistry. Yet, they producedintersections including 279 ft @0.24% Cu, including 59 ft @ 0.38% Cu , startingat surface.
Look at the cross-section in Figure3 . The large volume DCIP conductor at East Zone is the inferredsource of the copper intersected in the historic peripheral drillholes, copper that migrated up-dip to the south in the host limestonestratigraphy. As such, our goal is to drill-test the East Zoneconductor itself for the strongest concentrations of conductive coppersulfide in multi-phase quartz vein stockworks.
The long-section in Figure 4 demonstrates the potential for hole NB24-001 shown in Figure 1:
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The drill hole is literally starting in quartz vein rubble with coppersulfide and copper oxide at surface, grading up to 1.7% copper in handsamples, and;
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Our planned drill holes at East Zone stay within the structural,stratigraphic and 3D conductivity models for copper mineralization fortheir entirety.
From VR’s CEO, Dr. Michael Gunning, “ This is our tenth year of continuous andactive exploration in Nevada, and our 6 th drill program in advancing five separategreenfields properties in succession. As a result: we know theporphyry geology of western Nevada; we understand how new explorationtechnologies can build on historic exploration, and; we know theservice companies and logistics in the state. In short, our VPExploration, Justin Daley will tell you this is both the mostefficient set-up we have ever had, and the best copper target we haveever had, exposed on surface and never previously drilled.
We look forward to providing furtherupdates as our drilling progresses. In concert with thestrengthening price in copper as the Green Economy emerges, NewBoston’s time has arrived.
Field Videos
A short video from several previous site visits are available on theNew Boston Project Page on the Company’s website at www.vrr.ca . Also, on the Home Page itself, is a 20minute video overview of the New Boston project and drill targets,illustrated in PowerPoint.
Technical Information
Summary technical and geological information for theCompany’s various exploration properties including New Boston isavailable at the Company’s website at www.vrr.ca .
Technical information for this news release has beenprepared in accordance with the Canadian regulatory requirements setout in National Instrument 43-101. Justin Daley, P.Geo., VPExploration and a non-independent Qualified Person oversees and/orparticipates in all aspects of the Company’s mineral explorationprojects, and the content of this news release has been reviewed onbehalf of the Company by the CEO, Dr. Michael Gunning, P.Geo., anon-independent Qualified Person.
About the New Boston Property
Location
New Boston is within the Walker Lane mineral belt andstructural province in west-central Nevada. More specifically, it iswithin the co-spatial belts of Jurassic - and Cretaceous-aged copperand moly porphyry deposits, including the Yerington camp and Halldeposit.
New Boston is located in the Garfield Range in MineralCounty, approximately 150 km southeast of Reno. Vegetation is sparsein the range; outcrop or colluvium predominate on the property itself,with quaternary cover developed off its eastern border and easternflank of the range.
The property location facilitates cost-effectiveexploration, year-round. Access is from the nearby town of Luning,located just 5 km to the east on State Highway 95 connecting Reno andLas Vegas. The property itself is criss-crossed by a myriad of active,historic trails and roads which are reachable from the highway.
Property Description
The New Boston property is large: it consists of 77claims in one contiguous block approximately 3 x 5km in size andcovering 583 hectares in total (1,441 acres). It covers the entireextent of the known copper-moly-silver porphyry-skarn mineral systemexposed on surface between Blue Ribbon and East Zone, and its inferreddown-dip potential to the north.
The property is on federal land administered by theBureau of Land Management (BLM). There are no state or federal landuse designations, or privately-owned land which impede access to theproperty; nor is the property within the BLM’s broadly defined areaof sage grouse protection.
The property is owned 100% by VR. There are nounderlying annual lease payments; nor are there any joint venture orback-in interests. The vendor of the property retains aroyalty.
About VR Resources
VR is an established junior exploration company basedin Vancouver (TSX.V: VRR; Frankfurt: 5VR; OTCQB: VRRCF). VR evaluates,explores and advances large-scale, blue-sky opportunities in copper,gold and critical metals in Nevada, USA, and Ontario, Canada. TheCompany has also made Canada’s newest diamond discovery in northernOntario, and controls a new field of kimberlite targets around it. VRapplies modern exploration technologies and leverages in-houseexperience and expertise in greenfields exploration to large-footprintmineral systems in underexplored areas/districts. The foundation of VRis the proven track record of its Board inearly-stage exploration, discovery and M&A. The Company iswell-financed for its mineral exploration and corporate obligations.VR owns its properties outright and evaluates new opportunities on anongoing basis, whether by staking or acquisition.
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: 778-731-9292
Forward Looking Statements
This news release containsstatements that constitute "forward-looking statements". Such forward looking statements involve known and unknown risks,uncertainties and other factors that may cause the Company’s actualresults, performance or achievements, or developments in the industryto differ materially from the anticipated results, performance orachievements expressed or implied by such forward-looking statements.Forward-looking statements are statements that are not historicalfacts and are generally, but not always, identified by the words"expects," "plans," "anticipates,""believes," "intends," "estimates,""projects," "potential" and similar expressions,or that events or conditions "will," "would,""may," "could" or "should" occur. Forward-looking statements in this document include statementsconcerning VR’s plans to drill its New Boston property, the current pricestrength of copper, and all other statements that are not statementsof historical fact.
Although the Company believes theforward-looking information contained in this news release isreasonable based on information available on the date hereof, by theirnature forward-looking statements involve assumptions, known andunknown risks, uncertainties and other factors which may cause ouractual results, performance or achievements, or other future events,to be materially different from any future results, performance orachievements expressed or implied by such forward-lookingstatements.
Examples of such assumptions, risksand uncertainties include, without limitation, assumptions, risks anduncertainties associated with general economic conditions; theCovid-19 pandemic; adverse industry events; future legislative andregulatory developments in the mining sector; the Company ’ s ability to access sufficient capital from internal and externalsources, and/or inability to access sufficient capital on favorableterms; mining industry and markets in Canada and generally; theability of the Company to implement its business strategies;competition; and other assumptions, risks and uncertainties.
The forward-looking informationcontained in this news release represents the expectations of theCompany as of the date of this news release and, accordingly, issubject to change after such date. Readers should not place undueimportance on forward-looking information and should not rely uponthis information as of any other date. While the company may elect to,it does not undertake to update this information at any particulartime except as required in accordance with applicable laws.
This news release may also containstatements and/or information with respect to mineral propertiesand/or deposits which are adjacent to and/or potentially similar tothe Company’s mineral properties, but which the Company has nointerest in nor rights to explore. Readers are cautioned that mineraldeposits on similar properties are not necessarily indicative ofmineral deposits on the Company’s properties.
Trading in the securities of theCompany should be considered highly speculative. All of theCompany’s public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to reviewthem.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in Policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release
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Figure 1 . Photoof the drill on April 8 th , 2024, on the pad for drill hole NB24-001at New Boston. Quartz vein rubble with blue and green copper oxideis in the foreground. View is east, with state highway I95 connectingReno and Las Vegas in the main valley in the background.
Figure 2 . DCIPplan map with IP isoshells overlain on a conductivity depth slice basemap. The IP anomaly at Jeep Mine is cored by increasing conductivityat depth; New Boston is a low-pyrite system, so the low mV/Vchargeabilities are consistent with base metal sulfide. The East Zoneconductor plunges westerly, with copper-bearing gossans occurring inthe East Zone bowl where it comes to surface (see Figures 3 and 4).White arrows are schematic traces for drill holes planned by VR in2024 across the New Boston mineral system, starting with the East Zoneconductor where there are no historic drill holes.
Figure 3 .North-south cross-section through the 3D conductivity model shown onplan map in Figure 2. Note soil with up to 0.8% Cu above East Zoneconductor, which is modeled as the source for the copper which hasmigrated up-dip in limestone strata to surface at the CCT showings.Notice the strong correlation between copper and the small conductorin historic drill hole PNB5c; the much larger East Zone conductorplunges 900 meters into the plane of this page, and is open to depth,with no historic drill holes into it, period.
Figure 4 . Viewnorth at east-west long section through the 3D conductivity modelshown on plan map in Figure 2. Copper-silver veins on surface alongthe central GW fault and gossan trace (see Figure 2) emanatevertically upwards from a potential source porphyry stock where theJeep Mine and East Zone conductors converge. Shown schematically isthe drill trace for the first hole planned in 2024 by VR; the EastZone conductor is new, with no historic drill holes into it,period.
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