VR Resources seeks drill permit for New Boston

Executive Summary

• VR Resources Ltd. has submitted a Notice of Intent (NOI) for a drill permit to the Nevada Bureau of Land Management (BLM) for its New Boston molybdenum-tungsten-copper-silver porphyry project, specifically targeting the "Jeep mine" area on the western side of the system.
• The company anticipates the permit approval process to take approximately 15 business days, consistent with the timeline used for its East zone drilling in 2024.
• The upcoming drilling at the Jeep mine target is designed to test co-spatial and steeply plunging conductivity and induced polarization chargeability anomalies identified through a 2023 3-D array DCIP geophysical survey and reviewed with Dias Geophysical.

Key Details

• Permit Application: Submitted to the Nevada Bureau of Land Management for a drill permit (NOI) for the New Boston project in Nevada.
• Target Area: The "Jeep mine" target, located on the western side of the overall porphyry system, exposed on surface across a three- and four-kilometer strike east-west.
• Regulatory Timeline: The company received a similar NOI permit for the East zone target in 2024 within 15 business days and anticipates a similar timeframe for the current Jeep mine application.
• Geophysical Context:
  • A state-of-the-art 3-D array DCIP geophysical survey was conducted over the central part of the porphyry system in 2023.
  • Conductivity anomalies at the East zone were drill-tested in 2024, demonstrating copper and silver mineralization in continuous and intense stockwork veining in more than 1,500 feet of drill core in hole 002.
  • Inversion models for the DCIP survey were reviewed with Dias Geophysical (a leading provider of geophysical services) during the AME Mineral Exploration Conference in Vancouver.
  • The review clarified co-spatial and steeply plunging conductivity and induced polarization chargeability anomalies at the Jeep mine, which are now understood as the potential vein and sulphide center of the overall porphyry system.
• Infrastructure: The company highlights strong local infrastructure as a strategic advantage for cost-effective mineral exploration and operations in the region.
• Media: Two on-site field videos taken last week are available on the company's website, illustrating vein intensity and local infrastructure.
• Technical Disclosure: Technical information is prepared in accordance with Canadian regulatory requirements (National Instrument 43-101) and reviewed by Dr. Michael Gunning, PhD, PGeo, the company's president and CEO.

Notable Quotes

• "We are pleased to have the ball rolling again for our exploration at New Boston." — Dr. Michael Gunning, CEO
• "Co-spatial and steeply plunging conductivity and induced polarization chargeability anomalies at Jeep mine are better understood based on the review, and will be tested in the planned coming drilling as the potential vein and sulphide centre of the overall porphyry system at New Boston." — Dr. Michael Gunning, CEO