VR receives NOI drill permit for New Boston, and prioritizes drill targets for the copper-moly-silver porphyry system in western Nevada. NR-23-23
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C1T2
Tel: 778-731-9292; [email protected]
TSX.V: vrr www.vrr.ca
VR receives NOI drill permit for New Boston, and prioritizes drill targets for the
copper-moly-silver porphyry system in western Nevada.
NR-23-23
November 14 , 2023, Vancouver, B.C.: VR Resources Ltd. (TSX.V: VRR, FSE: 5VR ; OTCQB: VRRCF), the
"Company", or “VR”, has received its first NOI drill permit for its New Boston property and polymetallic
copper-moly-silver porphyry system located in west-central Nevada.
Figure 1. Satellite image showing selected drill sites for NOI permit applications for New Boston.
For strategic reasons, two separate NOI permit applications have been prepared to cover both the large
IP chargeability anomaly at Jeep Mine and the large conductivity anomaly at East Zone (EZ), respectively.
The conductivity anomaly at East Zone is the priority and, as such, its NOI permit was submitted first and
has been approved and received within the standard 15-day timeframe. The Jeep Mine NOI application
has been similarly prepared for submission and timely approval.
Geophysical Targets for Drilling
o Figure 2. Jeep Mine and East Zone anomalies on conductivity plan map with superimposed IP isoshells.
o Figure 3. East-west profile through the 3D conductivity block model, showing convergence of Jeep
Mine and East Zone anomalies at depth, below the central GW fault and mineralized gossan.
o Figure 4. North-south cross-section of conductivity block model, showing East Zone conductor as the
potential porphyry stock source to copper mineralization on surface at CCT Zone.
The East Zone Target for Copper
The ground DCIP conductor at East Zone has been given top priority based on its size, and on its proximity
to known copper mineralization: the best anywhere on the property covering the entire 4 km vein system:
• Copper at surface. The core of the conductor comes to surface into a patch of maroon-coloured
soil amongst hematite skarn and intense quartz vein stockworks, with up to 0.8% copper in soil;
• Copper Intersections. A 2010 drill hole located 300m to the south of the conductor, up -dip in
limestone, intersected 279ft @ 0.24% Cu from 12ft depth, coincident with a small conductor;
• Strike length. Starting from the maroon soil surface expression, the EZ conductor extends 900 m
to the northwest on plan map, and converges with the Jeep Mine conductor at depth (Figure 3);
• Open to depth. The EZ conductor plunges from surface through the 500 metre depth extent of
the 3D voxel model; amplitude strengthens and volume increases with depth, and is open.
The new conductor at East Zone offers the potential to discover a mineralized porphyry stock that is the
source of the system of mineralized, sheeted quartz veins exposed on surface over a 4 km strike. Why?
1. There are bona fide polyphase stockwork vein geometries of quartz with copper sulfide, at surface;
2. There are bona fide dacite porphyry dykes together with quartz monzonite stocks, at surface, and;
3. There are bona fide high temp. potassic alteration mineral assemblages with biotite and magnetite.
Site Visit & Field Video
VR completed a site visit to New Boston last week; a short field video is available on the Home Page of the
Company’s website at www.vrr.ca. The purpose of the trip was to meet with potential drill contractors in
person, in the field, to discuss the logistics for the planned first-pass drill program at East Zone.
CEO Comment
From VR’s CEO, Dr. Michael Gunning: “We are ready. The East Zone permit is in hand, and a field meeting
with drill companies to discuss how best to approach the East Zone conductor holes is now under our belt,
so planning can begin.
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C1T2
Tel: 778-731-9292; [email protected]
TSX.V: vrr www.vrr.ca
Conoco branded New Boston as world class and perhaps one of the largest known moly system s in the
world at the time - during the porphyry exploration boom in western North America from the 1950 s
through the 1970s, before exploration came to a grinding halt in 1981. We intend to finish what Conoco
started at New Boston, by using new DCIP technology to image and discover a porphyry stock that they
inferred at the heart of the system of sheeted veins, but could not identify and therefore did not drill test.
In addition, we will demonstrate, with the aid of modern, ICP -MS geochemistry, the polymetallic grade
potential of the system at New Boston for copper and silver, in addition to the moly.
The US government has recently added copper to the top of its Critical Metal list for domestic, raw material
supply for sustainable, downstream technologies and industries as the Green Economy emerges. Nevada
has both a long history in mining and a well -established pedigree and endowment in copper, and we
believe that New Boston has both the size and polymetallic grade composition to contribute.
I encourage shareholders to review the figures herein and on our website in order to fully appreciate the
size, amplitude and clarity of the conductivity anomaly at East Zone that we intend to drill. Especially the
consistent correlation between copper and conductivity as shown in Figure 4 herein, and as underscored
by photos of copper mineralization at New Boston provided in the previous news release on October 31st.
Description of DCIP Geophysical Survey
Figure 5. Satellite image showing the ground-based 3D IP geophysical survey completed in April by DIAS
Geophysical Limited using its proprietary DIAS32 DCIP technology and grid array of transmitter and
receiver stations with real time radio frequency data collection.
An equant grid of 200 metre–spaced stations over a survey a 1.6 x 2.2 km block covers the 2,100m strike
of sheeted veins exposed on surface in the main part of the skarn and porphyry system exposed on surface
at New Boston.
The survey generated more than 80,000 data points for inversion modeling and resultant 3D models of
chargeability and resistivity.
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 150km 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.
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C1T2
Tel: 778-731-9292; [email protected]
TSX.V: vrr www.vrr.ca
The property location facilitates cost-effective exploration, year-round. Access is from the nearby town
of Luning, located just 5km 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 5km
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 in northern Ontario. VR
applies modern exploration technologies and leverages 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. The Company is well-
financed for its mineral exploration and corporate obligations. 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
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C1T2
Tel: 778-731-9292; [email protected]
TSX.V: vrr www.vrr.ca
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 generall y, 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 VR’s expectations concerning the Hecla-Kilmer property 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; the Covid -19 pandemic; 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 and generally; the ability of the Compa ny 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.
This news release may also 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.
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.
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. Satellite image with drill site locations in the Notice of Intent (NOI) drill permit applications for the East Zone and Jeep Mine areas, respectively.
Red dashed arcs are the conductivity anomalies shown in Figure 2, derived from the DCIP survey completed in April. Numbered orange circles refer to
photos of copper mineralization provided in the previous new release, NR-23-22.
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. Plan map with IP isoshells overlain on a conductivity depth slice base map. The IP anomaly at Jeep Mine is cored by increasing conductivity at
depth; New Boston is a low-pyrite system, so the low mV/V chargeabilities are consistent with base metal sulfide. The East Zone conductor is the largest
and highest amplitude in the entire survey, with near-surface conductors consistently correlated with intense copper sulfide mineralization at surface. Blue
lines are schematic drill traces for planned first-pass drill holes by VR; there are no historic drill holes into the East Zone conductor, period.
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C1T2
Tel: 778-731-9292; [email protected]
TSX.V: vrr www.vrr.ca
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. View south at east-west profile slice through the 3D conductivity model shown on plan map in Figure 2. Copper-silver veins on surface along
the GW fault and gossan trace (see Figure 2) emanate vertically upwards from the central part of this view where the Jeep Mine and East Zone
conductors converge. Shown schematically are two of the planned drill holes; there are no historic drill hols in the East Zone conductor, period.