VR Resources Ltd. has announced the receipt of its first Notice of Intent (NOI) for drilling on its New Boston property in Nevada. This is a significant step towards uncovering the potential of the polymetallic copper-molybdenum-silver porphyry system.
According to the approval, the company has the opportunity to explore a large area of IP chargeability anomaly at the Jeep Mine and a conductivity anomaly in the East Zone. However, the main focus is on studying the East Zone, which has already been approved within the standard 15-day period. Preparations are underway to commence the drilling program at the Jeep Mine, while the approval for the application is awaited.
The conductor in the East Zone is the largest and most pronounced in field surveys, showing a clear correlation with intense copper sulfide mineralization on the surface. This conductor extends 900 meters northwest and connects with the conductor at the Jeep Mine at depth.
Dr. Michael Gunning, CEO, expressed enthusiasm for the upcoming drilling program, stating that “we intend to utilize the new DCIP technology to image and discover the porphyry deposit, which has been deductively studied by previous surveys but has never been tested by drilling. We also aim to demonstrate the polymetallic potential of the New Boston system in terms of copper, silver, and molybdenum. Given the recent inclusion of copper in the U.S. Critical Minerals List, we believe New Boston has the size and grade to contribute to the emerging Green Economy.”
VR Resources recently conducted a site visit to New Boston to discuss logistics with potential drilling subcontractors. The company’s website features a video of the site for shareholders to gain a better understanding of the project.
This drilling approval marks a significant milestone for VR Resources in its pursuit of uncovering the potential of the New Boston property and its porphyry deposit.
Frequently Asked Questions:
Q: What is the purpose of the drilling approval received by VR Resources Ltd.?
A: The NOI drilling approval allows VR Resources to investigate the polymetallic copper-molybdenum-silver porphyry system on the New Boston property in Nevada.
Q: Which areas are covered by the separate applications for the NOI drilling approval?
A: Separate NOI drilling approval applications cover a large IP chargeability anomaly at the Jeep Mine and a large conductivity anomaly in the East Zone.
Q: Has the drilling approval for the conductivity anomaly in the East Zone been granted?
A: Yes, the drilling approval for the conductivity anomaly in the East Zone has already been granted within the standard 15-day period.
Q: What is the significant role of the conductor in the East Zone?
A: The conductor in the East Zone is the largest and most pronounced in field surveys, showing a clear correlation with intense copper sulfide mineralization on the surface.
Q: What are the plans of the CEO regarding the upcoming drilling program?
A: The CEO plans to utilize the new DCIP technology to image and discover the porphyry deposit, which has been deductively studied by previous surveys but has never been tested by drilling. The goal is also to demonstrate the polymetallic potential of the New Boston system in terms of copper, silver, and molybdenum.
Key Terms:
– Notice of Intent (NOI): Permission to conduct exploration activities on a specific property.
– Polymetallic: Referring to the presence of multiple metals in a mineral deposit.
– Copper-Molybdenum-Silver Porphyry System: A type of mineral deposit characterized by the presence of copper, molybdenum, and silver in porphyry rocks.
– IP Chargeability Anomaly: An area of increased chargeability in induced polarization surveys, potentially indicating the presence of mineralization.
– Conductivity Anomaly: An area of increased conductivity in geophysical surveys, suggesting the presence of mineralization.