(TheNewswire)
October 31, 2023 - TheNewswire - Vancouver, BC - VR Resources Ltd. (TSX.V:VRR ) ( FSE:5VR ) ( OTC:VRRCF ) , the " Company ", or “ VR ”, is pleased to provide anexploration update for its New Boston polymetallic copper-moly-silverporphyry system located in west-central Nevada.
VR completed a site visit to New Boston in August for two reasons:
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Sample stockwork copper-silver veins across the property in order toobtain modern ICP-MS geochemical data spanning the entire 4 km breadthof the polymetallic porphyry system, and;
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Site drill pad locations in the field in order to submit a Notice of Intent drill permit (NOI)application to the BLM, Nevada.
Copper-Moly-Silver veins
Figure 1 . Satellite image withgrab sample locations which illustrate the polymetallic nature of thesheeted and stockwork veins in copper, moly and silver across the 4 kmof strike of the system on surface:
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Photo 1 . 1.65% Cu and 12.7 g/t Ag in stratabound sheetedquartz veins in skarn replacement rock in limestone at Blue Ribbon on the western edge ofthe 4 km system;
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Photo 2 . 1.74% Cu with 1,115 g/t Ag in quartz replacementof host limestone at Isabella/KayMine in the lower temperature alteration halo on the southeastperiphery of the 4 km system;
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Photo 3 . 0.26% Cu, 0.14% Mo with 112 g/t Ag in leached quartz veinbreccia with copper wad and iron oxide after massive chalcopyrite atthe Scorpion showing locatedon the GW Boundary Zone, a major mineralized structure in the centreof the 4km system of sheeted veins;
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Photo 4 . 4.3 - 10% Cu, 0.13 - 0.23% Mo, and 66 - 316 g/t Ag in iron-oxideskarns and porphyry stockworks in maroon gossans atop thenorthwest-plunging, 900 m long conductor at East Zone .
NOI drill permit
Figure 2 . Satellite imageshowing the drill sites identified in the NOI drill permitapplication. The drill holes target stockwork veins with copper inboth the East Zone and northof the Jeep Mine , based on theresults of the 3-D array, DCIP geophysical survey completed in April(see NR-23-15 , June 27, 2023).Note the strong colour anomalies at iron-silica gossans around theconductors in the satellite image in Figure 2 .
Context from VR’s CEO , Dr. Michael Gunning, “ Conoco branded New Boston as a worldclass, and perhaps one of the largest known moly systems in the worldat the time, during the porphyry exploration boom in western NorthAmerica during the 1960s and 1970s, before exploration came to agrinding halt in 1981. The data and rock photos in this news releaseillustrate how, some forty years later, modern ICP-MS geochemistryhighlights the true polymetallic nature of the porphyry system, andhow widespread the high-grade copper-silver veins actually areon surface across the 4km alterationfootprint at New Boston.
Despite the grades in the new grabsample assays, they are not the target. Thestate-of-the-art geophysics completed by VR in April, withtechnologies literally not available to Conoco in the 1970s, paints aclear picture for a central porphyry stock target with concentratedvein stockworks of conductive copper sulfide. The conductor shown onthe satellite image in Figure 2 comes to surface and plunges for 900 mto the west into the bowl, open, without a single historic drill holeinto it. With our permit, we intend to change that!
Why now? The US government hasrecently added copper to the top of its Critical Metal list fordomestic, raw material supply for sustainable, downstream technologiesand industries as the Green Economy emerges. Nevada has both a longhistory in mining and a well-established pedigree and endowment in copper, and we believe NewBoston has both the size and polymetallic gradecomposition to contribute.
We have been working with the BLM onthis NOI drill permit application for the past month or so, and nohurdles or impediments have been identified. We have worked with theBLM on numerous other projects over the past decade, and we anticipatethe same transparent and efficient process for New Boston.
With that, we look forward toproviding further updates as our exploration at New Bostonadvances.
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 .
VR submits all surface grab samples and/or drill coresamples collected from Nevada-based exploration projects forgeochemical analysis to the ALS Global (“ALS”) laboratory in Reno,Nevada. Sample preparation is completed in Reno. Analytical work iscompleted at the ALS laboratories located in Vancouver, BC., includingICP-MS analyses for base metals and trace elements, and golddetermination by atomic absorption assay. Analytical results aresubject to industry-standard and NI 43-101 compliant QAQC sampleprocedures at the laboratory, as described by ALS.
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 in northern Ontario. VR appliesmodern exploration technologies and leverages in-house experience andexpertise in greenfields exploration to large-footprint mineralsystems in underexplored areas/districts. The foundation of VR is theproven track record of its Board in early-stage exploration, discoveryand M&A. The Company is well-financed for its mineral explorationand corporate obligations. VR owns its properties outright andevaluates new opportunities on an ongoing basis, whether by staking oracquisition.
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 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 expectations concerning the Hecla-Kilmer property and all otherstatements 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 notundertake to update this information at any particular time except asrequired 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 . Satellite image of the New Boston property in west-central Nevada,with the town of Luninig and Highway 95 connecting Reno and Las Vegasin the upper right. Orange circles refer to the set of fourphotographs on the following pages of surface mineralization withcopper, moly and silver in sheeted and stockwork veins.
Photo 1 . Sheeted and stockworkveins at the Blue Ribbon workings at the western end of the 4 kmsystem of at New Boston, with historic drill intercepts of 92ft @ 1.38% copper in BR1 (1972).The photo is looking south from the series of high-grade workingstowards the folded, north-dipping limestone strata that hostmineralization.
Photo 2 . Isabelle/Kay Mine inthe skarn and alteration halo on the southeastern periphery of the 4km system of sheeted veins at New Boston, with Luning and Highway 95in the background. The veins and replacement zones have high-grades incopper and silver, yet with high sulfur, lead and zinc they areconsistent with a more distal setting to the stockwork veins in thecenter of the overall system at East Zone located to the north, overthe horizon in the background of the photo on the left.
Photo 3 . Scorpion vein on theorange gossan trace along the GW Boundary Zone and fault separatingthe Jeep Mine to the west and the East Zone conductor to the east.This property-scale structure divides the two different styles ofmineralization at New Boston, and itself hosts high-grade vein andvein breccia copper-silver-moly mineralization. The rock photo showsoxide remains of leached chalcopyrite, with high molybdenum and silvergrades suggestive of a much higher original copper grade of 4-10%,similar to samples at East Zone.
Photo 4 . Deep maroon colouranomalies associated with intense iron-silica-sulfide skarnreplacement zones and gossan around monzonite porphyry dykes at East Zone at the eastern end of the4 km system of sheeted veins at New Boston. The gossans are thesurface expression above the largest and strongest geophysical anomalyfor concentrated veins of conductive copper sulfide on the property,shown on the satellite image in Figure 2 .
Figure 2 . Satellite imageshowing drill sites in the Notice of Intent (NOI) drill permit applications for theEast Zone and Jeep Mine areas. Red dashed arcs are the conductivityanomalies from the 3-D DCIP survey in 2023. The East Zone conductor isinferred to be concentrated veins of conductive copper sulfide in amonzonite stock at the center of the New Bostonporphyry system, with no historic drill holes.
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