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VR Resources Limited ("VR" or the "Company", TSX.V: VRR, FSE: 5VR; OTCQB: VRRCF) is pleased to announce that it has received its Notice of Intent ("NOI") drill permit from the Nevada Bureau of Land Management (the "BLM") for its New Boston moly-tungsten-copper-silver porphyry project in Nevada.
The permit was received 15 business days from submission. It includes eight potential drill sites in the Jeep Mine area in the western part of the polymetallic porphyry system of sheeted and stockwork veins exposed on surface at New Boston over a strike length of between three and four kilometers. The Company has commenced the reclamation bonding process customary with all BLM NOI drill permits in Nevada.
Field planning is now underway for an approximately 1,500 m drill program to test the new IP and conductivity geophysical anomalies at Jeep Mine.
Dr. Michael Gunning, Chief Executive Officer of the Company, commented: "We are appreciative of the efficient execution of our NOI permit application by the BLM, and excited to have the ball rolling again at New Boston. Indeed, we will be on site this week for active field planning as the permitting process rolls out.
"Our goal is simple; to complete the first-pass drilling across the large-footprint, moly'-tungsten-copper-silver porphyry and skarn system that we started in 2024. The field photograph below illustrates the two key messages for New Boston; firstly, scale, with sheeted and stockwork veins exposed on surface over a 3 – 4 km strike east-west, and secondly; strong local infrastructure, a key strategic advantage for project development.
"Please note that there are two, on-site field video's taken last month and available on the New Boston Project Page on the Company's website."
Context
Prior to the submission of the NOI drill permit application for Jeep Mine, the inversion models for the state-of-the-art 3D array DCIP geophysical survey completed in 2023 were reviewed, for Best Practice, with the team at Dias Geophysical, a leading provider of geophysical services, during the recent AME Mineral Exploration Conference held in Vancouver. Co-spatial and steeply plunging conductivity and IP chargeability anomalies at Jeep Mine are now more precisely defined and better understood based on the review, and will be tested in the planned upcoming drilling as the potential vein and sulfide center of the overall skarn and porphyry system at New Boston.
Conductivity anomalies at East Zone identified in that same 2023 DCIP survey were drill tested in 2024 in the first leg of VR's first-pass drilling at New Boston. Copper and silver mineralization were intersected in continuous and intense stockwork veining in more than 1,500 ft of drill core in Hole 002. The planned drilling in the heart of the IP chargeability anomaly and coincident conductivity at Jeep Mine hopes to build upon those results in terms of the polymetallic grade potential of polyphase, stockwork veins with moly' and tungsten in addition to copper and silver.
TECHNICAL INFORMATION
Technical information disclosed by the Company has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Technical information contained in this document, and on the Company's website, has been reviewed and approved on behalf of the Company by the President & CEO, Dr. Michael Gunning, PhD, P.Geo., a non-independent Qualified Person.
ABOUT VR Resources Ltd.
VR is an established junior exploration company based in Vancouver. VR evaluates, explores and advances opportunities in copper, gold and critical metals in Nevada, USA, and Ontario, Canada. VR applies modern exploration technologies, in-house experience and expertise in greenfields exploration to large-footprint mineral systems in underexplored areas/districts. The foundation of VR is the proven track record of its Board in early-stage exploration, discovery and M&A. VR owns its projects outright and evaluates new opportunities on an ongoing basis, whether by staking or acquisition.
The reader is referred to the Company's website at www.vrr.ca for current corporate information on the Company, and up-to-date project overviews illustrated with maps and photos.
ON BEHALF OF THE BOARD OF DIRECTORS
Dr. Michael H. Gunning
President & CEO
For general information please use the following:
| Website: | www.vrr.ca |
| Email: | info@vrr.ca |
| Phone: | 778-731-9292 |
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This news release contains statements that constitute "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts 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 statements concerning the plans for drilling on the Company's New Boston property in Nevada, and all other statements that are not statements of historical fact.
Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature, forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward- looking statements. Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with: general economic conditions; adverse industry events; future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada; the ability of the Company to implement its business strategies; competition; and other assumptions, risks and uncertainties.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
Trading in the securities of the Company should be considered highly speculative. All of the Company's public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to review them.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ba672e1c-f368-43f5-a339-38543482b29e
