VR samples widespread high-grade copper-silver mineralization at New Boston in Nevada, and submits drill permit application to the BLM. 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
VR samples widespread high-grade copper-silver mineralization at New Boston
in Nevada, and submits drill permit application to the BLM.
NR-23-22
October 31, 2023, Vancouver, B.C.: VR Resources Ltd. (TSX.V: VRR, FSE: 5VR ; OTCQB: VRRCF ), the
"Company", or “VR”, is pleased to provide an exploration update for its New Boston polymetallic copper-
moly-silver porphyry system located in west-central Nevada.
VR completed a site visit to New Boston in August for two reasons:
1. Sample stockwork copper-silver veins across the property in order to obtain modern ICP -MS
geochemical data spanning the entire 4 km breadth of the polymetallic porphyry system, and;
2. Site drill pad locations in the field in o rder to submit a Notice of Intent drill permit (NOI)
application to the BLM, Nevada.
Copper-Moly-Silver veins
Figure 1. Satellite image with grab sample locations which illustrate the polymetallic nature of the sheeted
and stockwork veins in copper, moly and silver across the 4 km of strike of the system on surface:
o Photo 1. 1.65% Cu and 12.7 g/t Ag in stratabound sheeted quartz veins in skarn replacement rock
in limestone at Blue Ribbon on the western edge of the 4 km system;
o Photo 2. 1.74% Cu with 1,115 g/t Ag in quartz replacement of host limestone at Isabella/Kay
Mine in the lower temperature alteration halo on the southeast periphery of the 4 km system;
o Photo 3. 0.26% Cu, 0.14% Mo with 112 g/t Ag in leached quartz vein breccia with copper wad
and iron oxide after massive chalcopyrite at the Scorpion showing located on the GW Boundary
Zone, a major mineralized structure in the centre of the 4km system of sheeted veins;
o Photo 4. 4.3 - 10% Cu, 0.13 - 0.23% Mo, and 66 - 316 g/t Ag in iron-oxide skarns and porphyry
stockworks in maroon gossans atop the northwest-plunging, 900 m long conductor at East Zone.
NOI drill permit
Figure 2. Satellite image showing the drill sites identified in the NOI drill permit application. The drill holes
target stockwork veins with copper in both the East Zone and north of the Jeep Mine, based on the results
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 the conductors in the satellite image in Figure 2.
Context from VR’s CEO, Dr. Michael Gunning, “Conoco branded New Boston as a world class, and perhaps
one of the largest known moly systems in the world at the time, during the porphyry exploration boom in
western North America during the 1960s and 1970s, before exploration came to a grinding halt in 1981.
The data and rock photos in this news release illustrate how , some forty years later, modern ICP -MS
geochemistry highlights the true polymetallic nature of the porphyry system, and how widespread the
high-grade copper-silver veins actually are on surface across the 4km alteration footprint at New Boston.
Despite the grades in the new grab sample assays, they are not the target. The state-of-the-art geophysics
completed by VR in April, with technologies literally not available to Conoco in the 1970 s, paints a clear
picture for a central porphyry stock target with concentrated vein stockworks of conductive copper sulfide.
The conductor shown on the satellite image in Figure 2 comes to surface and plunges for 900 m to the west
into the bowl, open, without a single historic drill hole into it. With our permit, we intend to change that!
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C1T2
Tel: 778-731-9292; [email protected]
TSX.V: vrr www.vrr.ca
Why now? The US government has recently added copper to the top of its Critical Metal list for domestic,
raw material s upply for sustainable, downstream technologies and industries as the Green Econ omy
emerges. Nevada has both a long history in m ining and a well -established pedigree and endowment in
copper, and we believe New Boston has both the size and polymetallic grade composition to contribute.
We have been working with the BLM on this NOI drill permit application for the past month or so, and no
hurdles or impediments have been identified. We have worked with the BLM on numerous other projects
over the past decade, and we anticipate the same transparent and efficient process for New Boston.
With that, we look forward to providing further updates as our exploration at New Boston advances.
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.
VR submits all surface grab samples and/or drill core samples collected from Nevada -based exploration
projects for geochemical analysis to the ALS Global (“ALS”) laboratory in Reno, Nevada. Sample
preparation is completed in Reno. Analytical work is completed at the ALS laboratories located in
Vancouver, BC., including ICP-MS analyses for base metals and trace elements, and gold determination by
atomic absorption assay. Analytical results are subject to industry -standard and NI 43 -101 compliant
QAQC sample procedures at the laboratory, as described by ALS.
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 partici pates 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.
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 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
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, per formance or
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C1T2
Tel: 778-731-9292; [email protected]
TSX.V: vrr www.vrr.ca
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, with out 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 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 pl ace 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 inte rest 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 speculati ve. 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 of the New Boston property in west -central Nevada, with the town of Luninig and Highway 95 connecting Reno and Las Vegas in the upper right.
Orange circles refer to the set of four photographs on the following pages of surface mineralization with copper, moly and silver in sheeted and stockwork veins.
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C1T2
Tel: 778-731-9292; [email protected]
TSX.V: vrr www.vrr.ca
Photo 1. Sheeted and stockwork veins at the Blue Ribbon workings at the western end of the 4 km system 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 workings towards the folded,
north-dipping limestone strata that host mineralization.
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C1T2
Tel: 778-731-9292; [email protected]
TSX.V: vrr www.vrr.ca
Photo 2. Isabelle/Kay Mine in the skarn and alteration halo on the southeastern periphery of the 4 km system of sheeted veins at New Boston, with Luning
and Highway 95 in the background. The veins and replacement zones have high-grades in copper and silver, yet with high sulfur, lead and zinc they are
consistent with a more distal setting to the stockwork veins in the center of the overall system at East Zone located to the north, over the horizon in the
background of the photo on the left.
VR RESOURCES LTD.
1500 – 409 Granville St.
Vancouver, BC, Canada, V6C1T2
Tel: 778-731-9292; [email protected]
TSX.V: vrr www.vrr.ca
Photo 3. Scorpion vein on the orange gossan trace along the GW Boundary Zone and fault separating the Jeep Mine to the west and the
East Zone conductor to the east . This property-scale structure divides the two different styles of mineralization at New Boston , and itself
hosts high-grade vein and vein breccia copper-silver-moly mineralization. The rock photo shows oxide remains of leached chalcopyrite,
with high molybdenum and silver grades suggestive of a much higher original copper grade of 4-10%, similar to samples at East Zone.