VR completes bonding process for New Boston permit

Executive Summary

• VR Resources Ltd. has completed the reclamation bonding process for its Notice of Intent (NOI) drill permit with the Nevada Bureau of Land Management (BLM) for its New Boston project.
• The company is now planning a ~1,500-meter drill program for spring 2025 to test geophysical anomalies at the Jeep mine area, specifically targeting the potential sulphide center of the porphyry system.
• This drilling aims to build upon 2024 results at the East zone by testing for coincident IP and conductivity attributes, with a focus on intersecting molybdenum, tungsten, copper, and silver mineralization.

Key Details

• Permit Status: The standard reclamation bonding process was completed within ten business days of the NOI drill permit issuance.
• Drill Sites: The bonding covers eight potential drill sites located in the Jeep mine area, situated in the western part of the polymetallic porphyry system.
• Geological Context: The sites are located over a strike length of 3–4 km where sheeted and stockwork veins are exposed on the surface. All sites have direct road access.
• Drill Program Scope: Approximately 1,500 meters of drilling is planned to test new Induced Polarization (IP) and conductivity geophysical anomalies.
• Technical Target: The primary objective is to test areas where IP and conductivity attributes are coincident, representing the potential sulphide center of the large-footprint vein and alteration system.
• Strategic Goal: To complete first-pass drilling across the moly-tungsten-copper-silver porphyry and skarn system, building on the 2024 East zone results. Management believes the coincidence of IP and conductivity to the west at Jeep mine provides a vector to stronger vein intensity and sulphide concentration.
• Geophysical Background: Inversion models from a 3-D array DCIP geophysical survey completed in 2023 were reviewed with Dias Geophysical at the AME Mineral Exploration Conference. This review helped define co-spatial and steeply plunging conductivity and IP chargeability anomalies at Jeep mine.
• Previous Results (Context): In 2024, conductivity anomalies at the East zone were drill-tested, resulting in copper and silver mineralization intersected in continuous and intense stockwork veining in more than 1,500 feet of drill core in Hole 002.

Notable Quotes

• "We are appreciative of the efficient execution of the NOI permit application and bonding process by the BLM. With the completion of both, we are excited to start concrete plans for a drill program later this spring." — Dr. Michael Gunning, CEO
• "Our goal with this program is straight forward; to complete the first-pass drilling across the large-footprint, moly-tungsten-copper-silver porphyry and skarn system that we started in 2024 at East zone. We view the long intersections of continuous stockwork veining with copper and silver mineralization intersected at East zone as the starting point; we believe that the coincidence of IP and conductivity attributes to the west at Jeep mine provide a vector to stronger vein intensity and sulphide concentration, and thus, the potential for a stronger polymetallic intersection including moly and tungsten in addition to copper and silver." — Dr. Michael Gunning, CEO