(TheNewswire)
July 16, 2024 – TheNewswire - Vancouver, B.C.: VR Resources Ltd.(TSX.V: VRR, FSE: 5VR ; OTCQB: VRRCF ), the" Company ", or“ VR ”, has completed thesecond hole and the maiden drill program on its New Bostonpolymetallic copper-moly-silver porphyry project in Nevada.
Drill hole NB24-002 was completed to 709 m. Processing, logging andsampling of core continues. All assays are expected before the endof summer, and the total program of 1,310 m in two holes, continuouslysampled, will be reported on in full at that time.
Snapshot
Porphyry-style quartz vein stockwork with sulfide is intensethroughout the 710 m in Hole 002, from start to finish. It occurs in both the country rock limestone of Triassic age,and in at least two phases of dacite and monzonite porphyry ofCretaceous age. There is an overall increase in visible pyrite,molybdenite and copper sulfide content down-hole, both towards andwithin the monzonite porphyry.
A photograph of stockwork veining in limestone at just 9m into Hole 002 was shown in theprevious news release, and is posted on the New Boston project page onthe Company’s website at www.vrr.ca .
A photograph of stockwork veins in limestone at 522 m in Hole 002 is shown here in Photo 1 , near the contact withbiotite monzonite porphyry which dominated the last 150 m of the hole.
The porphyry phase is characterized by vein and disseminated pyrite,molybdenite and copper sulfide, shown here in Photo 2 , within a potassicalteration assemblage characterized by shreddy biotite and potassiumfeldspar vein halos.
From VR’s CEO, Dr. MichaelGunning
“ Hole 002was shut down despite being in monzonite porphyry with increasingstockwork veining and disseminated copper and moly’ sulfide forprogram and budget discipline. Despite a slow, albeit overall steadypace to drilling, we now have two long and nearly orthogonalintersections under our belt in the eastern part of the large andpolymetallic, porphyry system of sheeted and stockwork veins at NewBoston. Indeed, it is difficult to convey the volume and intensity ofveining in the 700 m of core in this hole. We look forwardto integrating all of the geochemical data from this program with ourgeological and exploration modelling developed over the last severalyears in order to plan the next phase of work.
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 to thenorthwest and the Hall deposit to the southeast.
New Boston is located in the Garfield Range in MineralCounty, and is approximately 150 km southeast of Reno. Vegetation issparse in the range; outcrop or colluvium predominate on the propertyitself, with quaternary cover present to the east in the Soda Springvalley.
The property location facilitates cost-effective,year-round exploration. Access is from the nearby town of Luning,located just 5 km to the east on State Highway 95 which connects Renoand Las Vegas. The property is criss-crossed by a myriad of historictrails and roads which are driveable from the highway.
Description
The New Boston property is large. It consists of 77claims in one contiguous block approximately 1.5 x 3 km in size andcovering 583 hectares in total (1,441 acres). It covers the entirealong-strike and down-dip extent of the polymetallic Cu-Mo-Ag sheetedand stockwork veins east of the Blue Ribbon skarns on the westernmostend of the porphyry-skarn system exposed on surface acrossapproximately 4 km of strike.
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 in early-stage exploration,discovery and M&A. The Company is well-financed for its mineralexploration and corporate obligations. VR owns its properties outrightand evaluates new opportunities on an ongoing basis, whether bystaking 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 for new geophysics at its NewBoston and Bonita properties ,and all other statements that are not statements of 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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Photo 1 . Deepgreen pyroxene and quartz vein stockworks in completely dolomitizedand marbleized Triassic Luning Formation limestone. Chalcopyrite,pyrite and molybdenite are found along quartz vein selvages and downthe centre of narrow pyroxene veinlets. ( Hole 002; 522 m; HQ core ).
Photo 2. Sulfide mineralization typical of potassic altered quartzmonzonite porphyry intrusion in the bottom 100m of Hole 2( 638m ,top photo; 702m , bottom photo). Pyrite, chalcopyrite and molybdenite aredisseminated in the porphyry phase as clots within stockwork quartzveins which exhibit centimetre-scale, pink’ish K-spar halos withshreddy biotite ( NQcore ).
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