VR confirms IP and conductivity targets for multiple centers within the copper- moly-silver porphyry system at its New Boston property in Nevada. NR-23-15
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C1T2
Tel: 778-731-9292; [email protected]
TSX.V: vrr www.vrr.ca
VR confirms IP and conductivity targets for multiple centers within the copper-
moly-silver porphyry system at its New Boston property in Nevada.
NR-23-15
June 27, 2023, Vancouver, B.C.: VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCQB: VRRCF), the "Company",
or “VR”, is pleased to provide the results from the recently completed airborne gradient magnetic survey
and ground-based 3D array DCIP survey on its New Boston property in Nevada.
Figure 1: 15mV/V IP anomaly 950 m long, from surface to 500 m depth and open, which outlines
the target for a mineralized porphyry intrusion below the Jeep Mine in the western par t of the
system of mineralized sheeted veins exposed on surface over a 2,100 m strike length;
Figure 2: High amplitude conductivity anomaly 900 m long , from surface to 500m depth and
open, which outlines the target for a high temperature, mineralized porphyry-skarn center at East
Zone in the eastern part of the system of sheeted veins at New Boston;
Figure 3: Integrated exploration target map; the conductivity anomaly at East Zone is the inferred
porphyry source to the quartz veins with copper exposed on surface at East Zone and CCT Zone;
Figure 4: Field photographs by VR along the GW boundary zone and normal fault which separates
the IP and conductivity targets for mineralized porphyry centers at Jeep Mine and East Zone
respectively. The fault is itself mineralized; it forms a continuous gossan of quartz veins and quartz
vein stockwork with limonite and copper wad replacing massive chalcopyrite (copper sulfide);
Figure 5. Satellite image showing the 4 km east-west breadth of the fully zoned skarn and
polymetallic porphyry system exposed on surface at New Boston.
From VR’s CEO, Dr. Michael Gunning, “Technology matters. Surface work and reconnaissance drilling at
New Boston by Conoco, Gulf and Bear Creek in the 1960s and 70s esta blished the sheer scale of the
porphyry-skarn system across a strike length of 4 km of sheeted and stockwork veins exposed on surface,
and significant grades and thickness of moly’ mineralization in numerous drill holes (see Figure 6). But a
sector collapse i n 1981 left that work unfinished with regard to identifying and drilling a mineralized
porphyry intrusion as the source for the sheeted and stockwork veins exposed at surface. Some forty years
later, new multi-sensor gradient magnetics and 3D arra y DCIP geophysical technologies that were not
available to Conoco at the time now provide VR with a clear path forward to complete the story and
undertake the drilling that was actually proposed by Conoco to follow up on the garnet-magnetite-biotite
stockwork veins observed in drill holes NB-1 and NB-4 on either end of the system.
Conoco developed a 3.14 BT exploration model to encompass the mineralized sheeted veins at New
Boston, exclusive of a porphyry stock that was inferred but not identified at the time. By using the results
from new high-tech geophysical surveys, we believe that we can build on that model and confirm the
presence of a mineralized porphyry centre (s) as the source for the system of sheeted veins at surface.
Our goal is to drill test the two main IP and conductivity targets illustrated in this news release this fall. As
shown in the satellite image in Figure 5, the proximity of New Boston to state HWY 95 provides tremendous
logistical advantages for drilling and advanced-stage exploration.
I encourage our shareholders to review carefully the figures herein to fully appreciate the clarity, strength
and scale of the two targets now apparent at New Boston; detailed explanations are provided in the figure
captions to help. With that, we look forward to providing further updates as our exploration advances.
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C1T2
Tel: 778-731-9292; [email protected]
TSX.V: vrr www.vrr.ca
Technical Information
Summary technical and geological information for the Company’s various exploration properties including
New Boston is available at the Company’s website at www.vrr.ca.
Technical information for this news release has been prepared in accordance with the Canadian regulatory
requirements set out in National Instrument 43 -101. Justin Daley, P.Geo., VP Exploration and a non-
independent Qualified Person oversees and/or participates in all aspects of the Company’s mineral
exploration projects, and the content of this news release has been reviewed on behalf of the Company
by the CEO, Dr. Michael Gunning, P.Geo., a non-independent Qualified Person.
About the New Boston Property
Location
New Boston is within the Walker Lane mineral belt and structural province in west-central Nevada. More
specifically, it is within the co -spatial belts of Jurassic and Cretaceous aged copper and moly porphyry
deposits, including the Yerington camp and Hall deposit.
New Boston is located in the Garfield Range in Mineral County, approximately 150 km southeast of Reno.
Vegetation is sparse in the range; outcrop or colluvium predominate on the property itself, with
quaternary cover developed off its eastern border and eastern flank of the range.
The property location facilitates cost-effective exploration, year-round. Access is from the nearby town
of Luning located just 5 km to the east on State Highway 95 connecting Reno and Las 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 77 claims in one contiguous block approximately 3 x 5 km
in size and covering 583 hectares in total (1,441 acres). It covers the entire extent of the known copper-
moly-silver porphyry-skarn mineral system exposed on surface between Blue Ribbon and East Zone, and
its inferred down-dip potential to the north.
The property is on federal land administered by the Bureau of Land Management (BLM). There are no
state or federal land use designations, or privately-owned land which impede access to the property, nor
is the property within the BLM’s broadly defined area of sage grouse protection.
The property is owned 100% by VR. There are no underlying annual lease payments , nor are there any
joint venture or back-in interests. The vendor of the property retains a royalty.
About VR Resources
VR is an established junior exploration company based in Vancouver (TSX.V: VRR; Frankfurt: 5VR; OTCQB:
VRRCF). VR evaluates, explores and advances opportunities in copper, gold and critical metals in Nevada,
USA, and Ontario, Canada, and most recently, a kimberlite breccia pipe discovery and field in northern
Ontario. VR applies modern exploration technologies and in-house experience and expertise in greenfields
exploration to large -footprint systems in underexplored areas/districts. The foundation of VR is t he
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C1T2
Tel: 778-731-9292; [email protected]
TSX.V: vrr www.vrr.ca
proven track record of its Board in early -stage exploration, discovery and M&A . The Company is well-
financed for its mineral exploration and corporate obligati ons. VR owns its properties outright and
evaluates new opportunities on an ongoing 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: [email protected]
Phone: 778-731-9292
Forward Looking Statements
This press release contains forward -looking statements. Forward -looking statements are typically
identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar
expressions or those which, by their nature, refer to future events. F orward looking statements in this
release include those related to the companies upcoming plans, such as “Our goal is to drill test the two
main IP and conductivity targets illustrated in this news release this fall. ”, “the size of the exploration
target”, and “VR evaluates new opportunities on an ongoing basis.”
This news release may contain statements and/or information with respect to mineral properties and/or
deposits which are adjacent to and/or potentially similar to the Company’s mineral properties, but which
the Company has no interest in nor rights to explore. Readers are cautioned that mineral deposits on
similar properties are not necessarily indicative of mineral deposits on the Company’s properties.
Although the Company believes that the use of such statements is reasonable, there can be no assurance
that such statements will prove to be accurate, and actual results and future events could differ materially
from those anticipated in such statements. The Company cautions investors that any forwar d-looking
statements by the Company are not guarantees of future performance, and that actual results may differ
materially from those in forward-looking statements. 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.sedar.com and readers are urged to review these materials.
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.
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C1T2
Tel: 778-731-9292; [email protected]
TSX.V: vrr www.vrr.ca
Figure 1. The target for a mineralized porphyry intrusion below the Jeep Mine as identified by IP chargeability iso-shells
overlain on a resistivity base map derived from 3D array DCIP survey at New Boston in 2023 . Lower = plan map; Upper
= cross-section view, located along the double white arrow in the plan map. Note: 1. New Boston is a low-pyrite system,
so the core IP isoshell at 15mV within a 12 mV halo is interpreted as base metal sulfide concentrations. 2. The IP anomaly
at depth corresponds to increasing conductivity, below the surface expression of the Jeep Mine hill; 3. Drill hole NB-4
with 992 ft @ 0.08% MoS2 is located north of the conductivity core to the large IP anomaly.
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C1T2
Tel: 778-731-9292; [email protected]
TSX.V: vrr www.vrr.ca
Figure 2. The target for a mineralized porphyry center at East Zone as identified by the conductivity anomaly derived
from 3D array DCIP survey at New Boston in 2023. Upper = plan map; L ower = cross -section view located along the
north-south black line on the plan map. Note: 1. The high amplitude of the conductivity anomaly indicates concentrated
sulfide minerals; 2. Conductivity target has 900 m strike length, and extends from surface to 500 m depth in the 3D DCIP
model and is open to depth; 3. Drill hole N-B1 with 318 ft @ 0.14% copper and 0.08% moly is located at the eastern end
of the conductivity anomaly; 4. The conductivity anomaly correlates with high temperature potassic alteration index in
soil geochemistry and potassium enrichment indicated by the airborne magnetic and radiometric survey (see Figure 3).
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C1T2
Tel: 778-731-9292; [email protected]
TSX.V: vrr www.vrr.ca
Figure 3. Integrated exploration map for New Boston. Shown are IP iso-shells plotted on conductivity base map derived from the 3D array DCIP survey in
2023, on a background of shaded topography. Also shown are anomalies derived from the airborne, multi-sensor gradient magnetic survey with radiometrics
completed in 2023. The GW boundary zone and normal fault which separates the main IP and conductivity targets for mineralized porphyry centers at Jeep
Mine and East Zone respectively, is itself mineralized (see photos in Figure 4). The 900 m long conductivity anomaly and target at East Zone is interpreted to
be the mineralized porphyry center and source for copper that migrated up-dip in limestone country rock to surface mineralization at CCT zone (see Figure 2).
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C1T2
Tel: 778-731-9292; [email protected]
TSX.V: vrr www.vrr.ca
Figure 4. Field photogrpahs by VR along the GW boundary zone and normal fault. It is based on geological mapping and sampling by VR, and is supported by
the new geophysical data shown in Figures 1, 2 and 3. It forms a continuous gossan zone of quartz veins and quartz vein stockwork with limonite and copper
wad after massive chalcopyrite (copper sulfide). The structure follows the topographic high of Jeep Mine hill where marbelization of limestone is strongest
but copper veins at surface lessen with topographic elevation on the hill; however, copper is evident in both modern ICP-MS soil geochemical data, and in the
new DCIP anomalies reported herein. Overall, the GW boundary zone separates the large IP anomaly targeted as the porphyry cent er below Jeep Mine from
the high amplitude conductivity anomaly at East Zone which is targeted as the mineralized porphyry center feeding the copper veins exposed on surface at
CCT Zone (see Figure 3).
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C1T2
Tel: 778-731-9292; [email protected]
TSX.V: vrr www.vrr.ca
Figure 5. Satellite image showing the large -footprint, polymetallic skarn and porphyry system exposed on surface over an east-west strike length of 4 km at
New Boston, and located just 5 km from Luning on state HWY 95 connecting Reno and Las Vegas in west -central Nevada.