(TheNewswire)
June 27, 2023 – TheNewswire - Vancouver, B.C.: VR Resources Ltd.(TSXV:VRR ) , ( FSE:5VR ) ; ( OTC:VRRCF ), the " Company ", or “ VR ”, is pleased to provide the results from the recentlycompleted airborne gradient magnetic survey and ground-based 3D arrayDCIP survey on its New Boston property in Nevada.
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Figure 1 : 15mV/V IP anomaly 950 m long , from surfaceto 500 m depth and open, which outlines the target for a mineralizedporphyry intrusion below the JeepMine in the western part of the system of mineralized sheetedveins exposed on surface over a 2,100 m strike length;
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Figure 2 : High amplitude conductivity anomaly 900 m long ,from surface to 500m depth and open, which outlines the target for ahigh temperature, mineralized porphyry-skarn center at East Zone in the eastern part of thesystem of sheeted veins at New Boston;
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Figure 3 : Integratedexploration target map; the conductivity anomaly at East Zone is theinferred porphyry source to the quartz veins with copper exposed onsurface at East Zone and CCT Zone;
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Figure 4 : Field photographs byVR along the GW boundary zone and normal fault which separates the IP and conductivity targets formineralized porphyry centers at Jeep Mine and East Zone respectively.The fault is itself mineralized; it forms a continuous gossan ofquartz veins and quartz vein stockwork with limonite and copper wadreplacing massive chalcopyrite (copper sulfide);
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Figure 5 . Satellite imageshowing the 4 km east-westbreadth of the fully zoned skarn and polymetallic porphyrysystem exposed on surface at New Boston.
From VR’s CEO, Dr. Michael Gunning, “ Technology matters. Surface work andreconnaissance drilling at New Boston by Conoco, Gulf and Bear Creekin the 1960s and 70s established the sheer scale of the porphyry-skarnsystem across a strike length of 4 km of sheeted and stockwork veinsexposed on surface, and significant grades and thickness of moly’mineralization in numerous drill holes (see Figure 6 ). But a sector collapse in 1981 left thatwork unfinished with regard to identifying and drilling a mineralizedporphyry intrusion as the source for the sheeted and stockwork veinsexposed at surface. Some forty years later, new multi-sensorgradient magnetics and 3D array DCIP geophysical technologies thatwere not available to Conoco at the time now provide VR with a clearpath forward to complete the story and undertake the drilling that wasactually proposed by Conoco to follow up on thegarnet-magnetite-biotite stockwork veins observed in drill holes NB-1and NB-4 on either end of the system.
Conoco developed a 3.14 BTexploration model to encompass the mineralized sheeted veins at NewBoston, exclusive of a porphyry stock that was inferred but notidentified at the time. By using the results from new high-techgeophysical surveys, we believe that we can build on that model andconfirm the presence of a mineralized porphyry centre (s) as thesource for the system of sheeted veins at surface.
Our goal is to drill test the twomain IP and conductivity targets illustrated in this news release thisfall. As shown in the satellite image in Figure 5 , the proximity of New Boston to state HWY95 provides tremendous logistical advantages for drilling andadvanced-stage exploration.
I encourage our shareholders toreview carefully the figures herein to fully appreciate the clarity , strength and scale of the two targets now apparent at NewBoston; detailed explanations are provided in the figure captions to help. With that,we look forward to providing further updates as our explorationadvances.
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 copper andmoly porphyry deposits, including the Yerington camp and Hall deposit.
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 Luninglocated 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 5 km 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 opportunities in copper, gold and criticalmetals in Nevada, USA, and Ontario, Canada, and most recently, akimberlite breccia pipe discovery and field in northern Ontario. VRapplies modern exploration technologies and in-house experience andexpertise in greenfields exploration to large-footprint systems inunderexplored areas/districts. The foundation of VR is the proventrack record of its Board in early-stage exploration, discovery andM&A. The Company is well-financed for its mineral exploration andcorporate obligations. VR owns its properties outright and evaluates new opportunitieson an ongoing basis, whether by staking or acquisition .
ON BEHALF OF THE BOARD OF DIRECTORS :
“Michael H. Gunning”
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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 press release contains forward-looking statements. Forward-looking statements are typically identified by words suchas: believe, expect, anticipate, intend, estimate, postulate andsimilar expressions or those which, by their nature, refer to futureevents. Forward looking statements in this release include thoserelated to the companies upcoming plans, such as “ Our goal is to drill test the two main IP and conductivity targetsillustrated in this news release this fall.”, “the size of theexploration target”, and “VR evaluates new opportunities on an ongoing basis.”
This news release may contain statements and/or information withrespect to mineral properties and/or deposits which are adjacent toand/or potentially similar to the Company’s mineral properties, butwhich the Company has no interest in nor rights to explore. Readersare cautioned that mineral deposits on similar properties are notnecessarily indicative of mineral deposits on the Company’sproperties.
Although the Company believes that the use of such statements isreasonable, there can be no assurance that such statements will proveto be accurate, and actual results and future events could differmaterially from those anticipated in such statements. The Companycautions investors that any forward-looking statements by the Companyare not guarantees of future performance, and that actual results maydiffer materially from those in forward-looking statements. Tradingin the securities of the Company should be considered highlyspeculative. All of the Company’s public disclosure filings may beaccessed via www.sedar.com and readers are urged to review thesematerials.
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 . Thetarget for a mineralized porphyry intrusion below the Jeep Mine asidentified by a 950 mlong IP anomaly, shown overlain on a resistivitybase map derived from 3D array DCIP survey at New Boston in 2023.Lower = plan map; Upper = cross-section view, located along the doublewhite arrow in the plan map. Note : 1 . New Boston is a low-pyrite system, so thecore IP isoshell at 15mV within a 12 mV halo is interpreted as basemetal sulfide concentrations. 2 . The IP anomaly at depth corresponds toincreasing conductivity, below the surface expression of the Jeep Minehill; 3 .Drill hole NB-4 with 992 ft @ 0.08% MoS 2 is located north of the conductivitycore to the large IP anomaly.
Figure 2 . The t arget for a mineralized porphyry center at East Zone asidentified by the conductivity anomaly derived from 3D array DCIPsurvey at New Boston in 2023. Upper = plan map; Lower = cross-sectionview located along the north-south black line on the plan map. Note : 1 . Thehigh amplitude of the conductivity anomaly indicates concentratedsulfide minerals; 2 . Conductivity target has 900 m strike length ,and extends from surface to 500 m depth in the 3D DCIP model and isopen to depth; 3 . Drill hole N-B1 with 318 ft @ 0.14% copper and 0.08% molyis located at the eastern end of the conductivity anomaly; 4 . Theconductivity anomaly correlates with high temperature potassic alteration index in soil geochemistry and potassiumenrichment indicated by the airborne magnetic and radiometric survey(see Figure 3 ).
Figure 3 . Integrated exploration map for New Boston. Shown are IPiso-shells plotted on conductivity base map derived from the 3D arrayDCIP survey in 2023, on a background of shaded topography. Also shownare anomalies derived from the airborne, multi-sensor gradientmagnetic survey with radiometrics completed in 2023. The GW boundary zone andnormal fault which separates the main IP and conductivity targets formineralized porphyry centers at Jeep Mine and East Zone respectively,is itself mineralized (see photos in Figure 4 ). The 900m long conductivity anomaly and target at East Zone is interpreted to be the mineralized porphyry center and sourcefor copper that migrated up-dip in limestone country rock to surfacemineralization at CCT zone (see Figure 2 ).
Figure 4 . Fieldphotogrpahs by VR along the GWboundary zone and normal fault. It is based ongeological mapping and sampling by VR, and is supported by the newgeophysical data shown in Figures 1, 2 and 3 . It forms acontinuous gossan zone of quartz veins and quartz vein stockwork withlimonite and copper wad after massive chalcopyrite (copper sulfide).The structure follows the topographic high of Jeep Mine hill wheremarbelization of limestone is strongest but copper veins at surfacelessen with topographic elevation on the hill; however, copper isevident in both modern ICP-MS soil geochemical data, and in the newDCIP anomalies reported herein. Overall, the GW boundary zoneseparates the large IP anomaly targeted as the porphyry center belowJeep Mine from the high amplitude conductivity anomaly at East Zonewhich is targeted as the mineralized porphyry center feeding thecopper veins exposed on surface at CCT Zone (see Figure 3 ).
Figure 5 .Satellite image showing the large-footprint of the polymetallicporphyry-skarn system exposed over an east-west strike length of 4 kmbetween Blue Ribb on and East Zone at New Boston, and its ideal location just 5km from Luning on state HWY 95 connecting Reno and Las Vegas inwest-central Nevada.
Figure 6 . Panoramic photo from the field by VR in 2017. The potential of NewBoston is about scale , and location : sheeted andstockwork veins with copper, molybdenum and silver are exposed onsurface over a strike length of approximately 4 km across the skarnand porphyry system, and; it is located less that 5 km from Highway 95connecting Reno and Las Vegas in west-central Nevada. Historic drillintersections are from internal company reports; their locations areshown in Figures 1 and 2 – they are peripheral to the newgeophysical targets for mineralized porphyry centers feeding thesystem of mineralized veins exposed on surface.
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