202625 releases
VR Receives NOI Permit with Expanded Drill Site Coverage for its New Boston Moly-Copper-Tungsten- Silver Porphyry Project in Nevada
The Nevada BLM has approved VR Resources' NOI drill permit amendment and associated reclamation bond for the New Boston moly-copper-tungsten-silver porphyry project, doubling permitted drill sites at the Jeep Mine area from 8 to 16 and allowing drilling to proceed. The permit application, submitted September 11, was approved September 16, with the bond submitted October 6 and approved October 9. Earlier hole NB26-003 intersected 317 m at 0.77% CuEq from surface above 419 m at 0.48% CuEq.
CorporateVR Submits NOI Permit Amendment to Expand Drill Sites for its New Boston Moly-Tungsten-Copper-Silver Porphyry Project in Nevada
An amendment application to the Nevada BLM has been submitted to double permitted drill sites from eight to sixteen under the existing Notice of Intent drill permit at the Jeep Mine area of the New Boston moly-tungsten-copper-silver porphyry project in Nevada, ahead of follow-up drilling planned this fall. The original NOI was received March 6, 2026. Hole NB26-003 intersected 317 m at 0.77% CuEq from surface, above 419 m of 0.48% CuEq, within 2,892 ft (881 m) of continuous polymetallic stockwork veining. The Company also approved 400,000 RSUs, 800,000 DSUs and 1,950,000 options at $0.56.
CorporateVR Resources Closes $7.5M Private Placement
A non-brokered private placement of 18,750,000 units at $0.40 per unit closed for gross proceeds of $7,500,000. Each unit comprises one common share and one-half warrant exercisable at $0.65 for 24 months from closing, with securities subject to a four-month-and-one-day hold period. A cash fee of $506,000 was paid to Centurion One Capital Corp. Proceeds are intended for follow-up diamond drilling this fall at the New Boston moly-copper-tungsten-silver porphyry project in Nevada, marketing and general corporate expenses.
FinancingVR Releases AGM Results and Provides Update on Empire Transaction
Shareholders approved all resolutions at the August 27, 2026 annual general meeting, including fixing the board at three directors, re-electing Michael Gunning, Craig Lindsay and Keith Inman, re-appointing Davidson & Company LLP as auditors, and approving the rolling stock option plan. VR and Athos Metals Corp. extended the outside date for the Empire and Silverback Cu-Ni-PGM-Au farm-out transaction in Ontario to September 30, 2026, and increased closing cash consideration to VR from $200,000 to $250,000. VR will hold about 9.9% of the listed issuer following Athos' go-public transaction with Meed Growth Corp. Follow-up drilling from the May 2026 VTEM+ survey is anticipated later this fall.
CorporateVR intersects 317 m at 0.77% CuEq starting at surface, above 419 m of 0.48% CuEq, in 881 m drill hole of continuous polymetallic stockwork veining at New Boston Porphyry-Skarn project, Nevada
Drill hole NB26-003 at the New Boston porphyry-skarn project in west-central Nevada returned 0.77% CuEq over 317 m starting at surface and 0.48% CuEq over 419 m from 460 m, including 0.98% CuEq over 31 m at 604 m in a newly identified diorite porphyry intrusion and skarn, and 33.43% CuEq over 2 m at 535 m on 1.48% WO3, 0.32% Cu and 427 g/t Ag. The 881 m hole ended in mineralization due to instability, with 0.35% CuEq over 7 m at 858 m.
Drill resultsVR Confirms New IP and Conductivity Anomalies on its Bonita Property Porphyry Copper-Gold Project in Nevada
Final data from a 3D-array DCIP geophysical survey over the Copper Queen target at the Bonita porphyry copper-gold project in northwestern Nevada identified a conductivity anomaly adjacent to the Iron Chief specularite syenite breccia body, extending from surface to depth, and an IP chargeability anomaly on the south flank of Copper Queen hill near the Whiskey Bottle breccia centre. The survey covered a 1.5 x 3.5 km grid on 200 m lines with 150 m stations over three weeks in February 2026, with roughly 400 m depth penetration. VR intends to evaluate both anomalies for follow-up drilling.
Drill resultsVTEM Airborne Survey and NI43-101 Technical Report Complete for VR Resources Empire Copper-Nickel-PGM Project in Ontario
A VTEM+ airborne EM and magnetic survey has been completed over the Empire, Rambler and Mack properties in northwestern Ontario, with final processed data and inversions expected by the end of July 2026; follow-up drilling, the final exploration milestone under the farm-out to Athos Metals Corporation, is anticipated later this summer or fall. Athos completed an NI 43-101 Technical Report on the 15,150-hectare Empire District Project, which the TSXV confirmed on May 26, 2026 as a property of merit, and on June 3, 2026 signed a definitive merger agreement with Meed Growth Corp. (TSXV: MEED.P). VR will hold 9.9% of the resulting issuer.
Drill resultsVR completes 2,900 ft hole and polyphase vein intersection at its New Boston Moly-Tungsten-Copper-Silver Porphyry Project in Nevada; core scanning and continuous geochemistry are underway
Drill hole NB26-003 at the Jeep Mine target on the New Boston moly-tungsten-copper-silver skarn and porphyry project in west-central Nevada was completed at 2,892 ft (881 m), with polyphase quartz veins and vein and disseminated sulfide logged throughout the hole; the sub-vertical hole became unstable and was terminated still in mineralized veining. Hyperspectral core scanning at TerraCore and continuous geochemical sampling using sodium peroxide fusion at ALS, both in Reno, are in progress, with assays pending. Eight drill sites are approved under the current NOI permit.
Drill resultsVTEM Airborne Survey is Underway on VR’s Empire Copper-Nickel-PGM Project in Ontario
A VTEM+ airborne EM and magnetic survey of approximately 1,500 line-kilometres in three blocks has begun over the Rambler, Empire and Mack properties in northwestern Ontario, taking about three weeks with final data expected in July. The survey is the first exploration milestone under the farm-out of the Empire and Silverback Cu-Ni-PGM projects to private company Athos Metals Corp., with follow-up drilling anticipated later this summer. VR received TSXV conditional acceptance of the transaction by letter dated April 23, 2026, and will hold 9.9% of the resulting issuer after Athos' go-public transaction.
Drill resultsDrill Program is Underway at VR’s New Boston Moly-Tungsten-Copper-Silver Porphyry Project in Nevada
Drilling has begun at the New Boston moly-tungsten-copper-silver porphyry project in Nevada, with plans for approximately 1,500 metres in 2–3 holes testing coincident IP chargeability and conductivity anomalies at Jeep Mine. The program is expected to take about two months, with geochemical results to follow in the summer; core will undergo hyperspectral scanning by TerraCore and continuous multi-element ICP-MS sampling at Paragon Geochemical in Reno. VR also allocated 200,000 incentive stock options at $0.28, exercisable for five years, to certain consultants.
Drill resultsVR Resources Announces Closing of Oversubscribed $1.1M Brokered Private Placement Led by Centurion One Capital
A brokered private placement closed with 4,680,000 units sold at $0.25 per unit, including an overallotment exercise, for gross proceeds of $1,170,000, led by Centurion One Capital Corp. as lead agent and sole bookrunner. Each unit comprises one common share and one warrant exercisable at $0.30 for 36 months. Proceeds will fund a planned diamond drill program at the New Boston tungsten-moly-copper-silver porphyry project in Nevada, marketing and general corporate expenses. Fees included $93,600 cash, 468,000 units and 374,400 broker warrants.
FinancingVR Announces Upsize of Brokered Private Placement Led by Centurion One Capital to $1,000,000
A previously announced brokered private placement has been upsized to up to 4,000,000 units at $0.25 each for gross proceeds of up to $1,000,000, with Centurion One Capital Corp. as lead agent and sole bookrunner holding an option to sell up to 2,000,000 additional units for a further $500,000. Each unit includes one common share and one warrant exercisable at $0.30 for 36 months. Proceeds will fund a planned diamond drill program at the New Boston tungsten-moly-copper-silver porphyry project in Nevada, marketing and general corporate expenses, with closing expected on or before April 30, 2026.
FinancingVR Resources Announces $500,000 Brokered Private Placement Led by Centurion One Capital
A brokered private placement of up to 2M units at $0.25 per unit for up to $500,000 has been agreed with Centurion One Capital Corp. as lead agent and sole bookrunner, each unit comprising one share and one warrant exercisable at $0.30 for 36 months, with an agent option for up to 2M additional units. Proceeds will fund diamond drilling at the New Boston tungsten-moly-copper-silver porphyry project in Nevada, marketing and general corporate expenses. Closing is expected around April 30, 2026.
FinancingVR Completes Bonding Process for NOI Drill Permit for its New Boston Moly-Tungsten-Copper-Silver Porphyry Project in Nevada
The reclamation bonding process with the Nevada BLM has been completed for the Notice of Intent drill permit at the New Boston moly-tungsten-copper-silver porphyry project in Nevada, within ten business days of the permit's issuance. The bonding covers eight potential drill sites in the Jeep Mine area, all with direct road access. An approximately 1,500 m drill program is planned for this spring to test coincident IP chargeability and conductivity anomalies at Jeep Mine.
CorporateVR Receives NOI Drill Permit for its New Boston Moly-Tungsten-Copper-Silver Porphyry Project in Nevada
A Notice of Intent drill permit has been received from the Nevada BLM for the New Boston moly-tungsten-copper-silver porphyry project, covering eight potential drill sites in the Jeep Mine area; the permit was issued 15 business days from submission and reclamation bonding has commenced. Field planning is underway for an approximately 1,500 m drill program to test IP and conductivity geophysical anomalies at Jeep Mine, where surface veins extend over a 3–4 km strike length.
CorporateDCIP Geophysical Survey Completed on VR’s Bonita Porphyry Copper-Gold Project in Nevada
A 3D-array DCIP geophysical survey has been completed over the Copper Queen target at the Bonita porphyry copper-gold project in Nevada, covering a grid block of approximately 1.5 x 3.5 km. The survey, carried out by Dias Geophysical using DIAS32 technology, will generate a 3D resistivity model with about 187,000 data points and an IP model with about 135,500 data points, with depth penetration of roughly 400 m. Results are intended to vector follow-up drilling.
Drill resultsVR Farms Out its Copper-Nickel-PGM Properties in Ontario, and Dials in Exploration and Drill Planning in Nevada
A binding definitive agreement dated February 25, 2026 will see VR Resources sell its 100% interest in the Empire and Silverback copper-nickel-PGM projects in northwestern Ontario to private company Athos Metals Corp. Consideration comprises $400,000 cash, of which $200,000 was paid non-refundably on execution, plus 9.9% of the shares of a resulting issuer following a planned go-public transaction. Before closing, Athos must complete an airborne VTEM+ survey at Empire and contract a drill program of at least 2,000m.
AcquisitionVR Submits Drill Permit Application for its New Boston Moly-Tungsten-Copper-Silver Porphyry Project in Nevada
A Notice of Intent drill permit application has been submitted to the Nevada Bureau of Land Management for the Jeep Mine target at the New Boston moly-tungsten-copper-silver porphyry project in Nevada, with drilling planned for the spring of 2026. A similar NOI permit for the East Zone target was received within 15 business days in 2024. The porphyry system is exposed on surface across a 3–4 km east-west strike, and 2024 Hole 002 intersected copper and silver mineralization in stockwork veining over more than 1,500 ft of core.
CorporateDCIP Geophysical Survey Underway on VR’s Bonita Porphyry Copper-Gold Project in Nevada
A 3D-array DCIP geophysical survey is underway over the Copper Queen target at the Bonita porphyry copper-gold project in northwestern Nevada, run by Dias Geophysical, with field set-up on February 9, 2026. The survey is intended to provide a drill-targeting vector following earlier surface mapping and the reconnaissance drilling completed at Copper Queen in 2017. Preliminary and final 3D models are to be reported when available.
Drill resultsVR Initiates Exploration Plans for its Bonita porphyry copper-gold project in Nevada
A contract has been executed with DIAS Geophysical Ltd. and field planning begun for a ground-based DCIP survey using DIAS32 3D-array IP and resistivity technology over the Copper Queen target at the Bonita porphyry copper-gold project in Nevada, aimed at defining drill targets following porphyry-style copper-sulfide veining intersected in 2017 drilling. The work follows an oversubscribed $3.15M financing led by Centurion One Capital Corp. The Company also approved 1,950,000 incentive stock options at $0.25, exercisable for five years.
Drill resultsVR Resources Announces Closing of Oversubscribed $3.15M Brokered Private Placement Led by Centurion One Capital
A brokered private placement of 19,687,500 units at $0.16 per unit closed for gross proceeds of $3,150,000, including exercise of the over-allotment option, led by Centurion One Capital Corp. Each unit includes one common share and one warrant exercisable at $0.20 for 36 months; the pricing reflects a 10-for-1 share consolidation completed January 19, 2026. Proceeds will fund exploration planning at the New Boston, Bonita and Amsel projects in Nevada, marketing and working capital.
FinancingVR Confirms Effective Date of Previously Announced Consolidation
A ten-for-one share consolidation will take effect January 19, 2026, subject to TSX Venture Exchange approval, reducing VR Resources' 133,443,467 issued common shares to approximately 13,344,346 post-consolidation shares before rounding of fractional shares and excluding shares issued under the offering. The new ISIN is CA91831M2040 and the CUSIP is 91831M204, with the company name and trading symbol unchanged. The consolidation is a condition of the previously announced brokered private placement of up to 17,187,500 units for gross proceeds of $2,750,000.
CorporateVR Announces Further Upsize of Brokered Private Placement Led by Centurion One Capital to $2,750,000
A brokered private placement has been upsized to up to 17,187,500 units at $0.16 per unit for gross proceeds of up to $2,750,000, with Centurion One Capital Corp. as lead agent and sole bookrunner holding an option for up to $500,000 in additional units. Each unit includes one common share and one warrant exercisable at $0.20 for 36 months. The offering is conditional on a 10-for-1 share consolidation effective January 15, 2026, with closing expected on or around January 16, 2026.
FinancingVR Upsizes Brokered Private Placement Led by Centurion One Capital to $1,500,000
A previously announced brokered private placement has been upsized to up to 9,375,000 units at $0.16 per unit for gross proceeds of $1,500,000, with Centurion One Capital Corp. as lead agent and sole bookrunner, plus an agent option for up to $500,000 in additional units. Each unit includes one common share and one warrant exercisable at $0.20 for 36 months. The offering is conditional on a 10-for-1 share consolidation expected around January 15, 2026, with closing anticipated around January 16, 2026.
FinancingVR Amends Brokered Private Placement Led by Centurion One Capital, amends Consolidation, and Continues Planning towards Exploration on its New Boston and Bonita Porphyry Projects in Nevada in 2026
Revised terms for VR Resources' brokered private placement, led by Centurion One Capital, now target gross proceeds of up to $500,000 through units priced at $0.16, each comprising one common share and one warrant exercisable at $0.20 for 36 months. The Offering is conditional on a share consolidation, amended to ten pre-consolidation shares for one post-consolidation share, reducing 133,443,467 shares to approximately 13,344,346, expected on or around January 15, 2026, with closing on or around January 16, 2026.
Financing
20259 releases
VR Extends Brokered Private Placement Led by Centurion One Capital, and Continues Planning towards Exploration on its New Boston and Bonita Projects in Nevada in 2026
VR Resources has extended the outside date of its proposed brokered private placement of up to $1.5M in units to January 18, 2026, on the same terms described in its October 20, 2025 news release, with Centurion One Capital Corp. as lead agent and sole bookrunner. The lead agent receives an 8% cash commission and broker warrants equal to 8% of units issued, expiring three years from closing. Closing is conditional on TSX Venture Exchange approval and completion of the previously disclosed 5 to 1 share consolidation. Planning continues toward 2026 exploration on the New Boston and Bonita porphyry projects in Nevada.
Financing
202420 releases
VR Resources Acquires Three New Projects to Expand Its Copper-Gold Strategy in Northern Ontario
VR Resources has entered a binding agreement dated Sept 11, 2024 to option a 100% interest in the Empire, Silverback and Golden Bear properties in northwestern Ontario from a private vendor, comprising 335 mineral claims in four contiguous blocks covering 1,649 hectares. The first 90% requires $45,000 and 600,000 common shares on closing, with the remaining 10% for $5,000 and 400,000 shares upon starting a diamond drill program within 24 months; the vendor receives a 2% NSR. Closing is expected on or before Oct 1, 2024, subject to TSX Venture Exchange acceptance.
AcquisitionVR Resources Reports Copper-Moly-Silver Intervals Within Continuous Mineralization Over 601 and 709 Metre Intersections at New Boston
Geochemical results from two reconnaissance holes totalling 1,310 metres at the New Boston copper-moly-silver porphyry project in Mineral County, Nevada, show continuous hydrothermal mineralization across the full 601 m of Hole 001 (averaging 0.05% Cu, 1.0 g/t Ag, 76 ppm Mo) and the full 709 m of Hole 002 (0.07% Cu, 1.5 g/t Ag, 35 ppm Mo). Intervals in limestone host rock include 48 m at 0.11% Cu, 115 ppm Mo and 1.55 g/t Ag from surface in Hole 001, and 117.6 m at 0.10% Cu, 118 ppm Mo and 1.9 g/t Ag from 1 m plus 98 m at 0.12% Cu, 24 ppm Mo and 2.3 g/t Ag from 441 m in Hole 002. The company has scoped an MT survey to augment its 2023 DCIP survey.
Drill resultsVR Announces Results of Annual General Meeting of Shareholders
Shareholders approved all management resolutions at the annual general meeting held September 5, 2024, with 36,200,969 common shares voted, representing 30.2% of issued and outstanding shares. The board was fixed at three directors, with Michael Gunning, Craig Lindsay and Keith Inman elected, Davidson & Company LLP re-appointed as auditors, and the Stock Option Plan and Long Term Incentive Plan approved. Michael Gunning becomes Executive Chairman on the retirement of founding Chairman Darin Wagner, and VP Exploration Justin Daley is appointed President and CEO.
CorporateVR Continues to Advance its KSZ Strategy for Large Iron Oxide - Copper - Gold Systems in Northern Ontario
The Halfway property is the next target in the company's Kapuskasing Structural Zone (KSZ) exploration strategy in northern Ontario, aimed at iron oxide-copper-gold (IOCG) systems. Halfway lies 7 km southeast of the recently sold Hecla-Kilmer property and is centred on a 1.5 km diameter magnetic high, 10 km from rail, hydro-electric power and Highway 634 at Otter Rapids. A historic drill hole reports iron and copper sulphides in magnetite breccia. VR has met geophysical service companies to scope a full tensor magnetic survey this fall.
NewsVR Completes Sale Of Hecla-Kilmer
The sale of the Hecla-Kilmer REE mineral property to Neotech Metals Corp. has closed, with VR Resources receiving $1,000,000 in cash and 4,000,000 Neotech common shares. The Neotech shares are released from escrow over 30 months, with an initial 500,000 shares released on completion. VR retains the right to buy down up to half of the existing 3% NSR from the original property vendors, receiving an equivalent NSR from Neotech, and may nominate one person to Neotech's board or advisory committee.
AcquisitionVR completes Hole 002 and the maiden drill program at New Boston
Drill hole NB24-002 was completed to 709 m, finishing the maiden two-hole, 1,310 m drill program at the New Boston copper-molybdenum-silver porphyry project in Mineral County, Nevada. Core logging and sampling continue, with all assays expected before the end of summer and the full program to be reported then. Porphyry-style quartz vein stockwork with sulfide occurs throughout the hole in Triassic limestone and Cretaceous dacite and monzonite porphyry, with pyrite, molybdenite and copper sulfide increasing down-hole.
Drill resultsVR receives shareholder approval for Hecla-Kilmer transaction; closing expected in June
Shareholders approved the sale of VR Resources' 100% interest in the Hecla-Kilmer REE property in Ontario to Neotech Metals Corp. at an Extraordinary General Meeting held May 31, 2024, with 99.7% of votes cast in favour. The transaction follows a definitive agreement effective March 8, 2024, amended April 23, 2024. The Company will now file for final acceptance by the TSX Venture Exchange and then complete the transaction.
AcquisitionVR completes Hole 001 to target depth at New Boston, and Hole 002 is underway
Hole 001, the first hole of the maiden drill program at the New Boston copper-moly-silver porphyry project in Mineral County, Nevada, reached target depth and was terminated at 601.34 m, still within the East Zone conductor target. The hole intersected multiple porphyry phases hosted in limestone with stockwork quartz veins and disseminated and vein-hosted sulfide, with quartz dacite and biotite monzonite porphyry making up 86% of core and average recovery above 90%; the entire 601 m was sampled on one-metre intervals. Hole 002, 300 metres south, is underway, with complete assays not expected until next month or July.
Drill resultsVR Amends Hecla-Kilmer Definitive Agreement
The closing date for the sale of VR Resources' 100% interest in the Hecla-Kilmer REE property in Ontario to Neotech Metals Corp. has been extended to June 30, 2024 under an amending agreement effective April 23, 2024. The extension facilitates a shareholder vote at a General and Extraordinary Meeting to be held on May 31, 2024, as required by TSX Venture Exchange policies. The original definitive agreement was effective March 8, 2024.
AcquisitionThe drill is turning at VR’s maiden drill program on the East Zone conductor at the New Boston polymetallic copper-moly-silver porphyry system in Nevada
Drilling has begun on the maiden drill program at the New Boston copper-moly-silver porphyry property in west-central Nevada, targeting the East Zone conductor delineated by a 2023 3D array DCIP survey, where there are no historic drill holes. The program is planned for 2–4 holes totalling 1,500 to 2,000 metres, taking roughly one month, with assays expected through May and June. Historic peripheral holes returned 279 ft @ 0.24% Cu, including 59 ft @ 0.38% Cu from surface. New Boston comprises 77 claims over 583 hectares, 100% owned by VR.
Drill resultsNew cutting-edge airborne hyperspectral data confirms target for core of porphyry copper-moly system at New Boston; drill program mobilizes
Final data from an airborne hyperspectral survey by SpecTIR LLC over the New Boston copper-moly-silver porphyry-skarn property in Mineral County, west-central Nevada identified high temperature clay and garnet alteration correlating with the potassic radiometric anomaly at East Zone, and the maiden spring drill program has mobilized, with first hole NB24-001 collared in quartz vein rubble with copper oxide to test a westward-plunging DCIP conductor. The 583-hectare, 77-claim property is 100% owned. VR also allocated 1,725,000 incentive stock options at $0.22, exercisable for five years.
Drill results
202317 releases
VR Confirms the Diamond Potential for the Kimberlite Breccia Pipe at Northway in Northern Ontario
Caustic fusion and mineralogy results from hole NW22-001, the first drill hole into the kimberlite breccia pipe at the Northway property in Northern Ontario, recovered a clear, colourless, inclusion-free micro-diamond fragment from the uppermost part of 30 metres of kimberlitic material intersected in the eastern part of a 1.2 km magnetic anomaly. Heavy mineral analysis also identified one eclogitic pyrope-almandine garnet with Mg-ilmenite inclusion and 6 chromite grains, 2 within the diamond stability field. Results for holes 002 and 003, covering 438 m of core, are pending.
Drill resultsVR confirms kimberlite breccia 700 metres from Hole 001 at Northway, prepares samples for shipping, and scopes magnetic surveys on surrounding properties
Drill hole NW23-003 at the Northway property in northern Ontario intersected approximately 350 m of kimberlite breccia below sandstone cover starting at about 240 m depth, ending in xenolith-rich kimberlite breccia at 627 m. Kimberlite breccia from holes 1, 2 and 3 spans roughly 700 m laterally and 320 m vertically; about 1.3 tonnes of core will be shipped in the second week of July for microdiamond caustic fusion analysis at SRC in Saskatoon. The board adopted an RSU/DSU long term incentive plan, subject to shareholder approval on August 31, 2023.
Drill resultsVR confirms IP and conductivity targets for multiple centers within the copper-moly-silver porphyry system at its New Boston property in Nevada
Results from an airborne gradient magnetic survey and ground-based 3D array DCIP survey at the New Boston copper-moly-silver porphyry-skarn property in Mineral County, Nevada defined two targets: a 15mV/V IP anomaly 950 m long extending from surface to 500 m depth and open below the Jeep Mine, and a high-amplitude conductivity anomaly 900 m long, from surface to 500 m depth and open, at East Zone. VR intends to drill test both targets this fall.
Drill resultsVR resumes drilling on the kimberlite breccia pipe complex discovered on its Northway Property in northern Ontario
Drilling has resumed at the Northway property in northern Ontario, with hole NW23-003 now underway targeting the heart of a kimberlite diatreme breccia pipe complex whose magnetic anomaly measures 900–1,200 metres across. The first two holes, spanning about 450 m across the southeastern part of the anomaly, intersected various kimberlite breccia phases beneath Devonian limestone and sandstone cover and were terminated due to caving in the sandstone. Core from all three holes will be shipped to the SRC laboratory in Saskatoon by the first week of July for compositional study and micro-diamond caustic fusion, with results anticipated by the end of the summer.
Drill resultsVR Closes Financing and plans to mobilize for additional drilling at the Northway kimberlite breccia in northern Ontario
A non-brokered private placement closed for gross proceeds of $836,000, comprising 2,051,282 flow-through units at $0.195 for $400,000 and 2,422,222 units at $0.18 for $436,000, each unit including a half warrant exercisable at $0.25. A cash fee of $24,000 was paid, and the securities are subject to a hold period expiring October 8, 2023. Proceeds will fund an additional drill hole later this month into the kimberlite breccia complex at the Northway property in northern Ontario, using the drill remaining at the nearby Hecla-Kilmer REE project.
FinancingVR arranges $800k non-brokered private placement for additional drilling at the Northway kimberlite discovery in northern Ontario
A $800,000 non-brokered private placement has been arranged, consisting of up to 2,051,282 flow-through units at $0.195 for up to $400,000 and up to 2,222,222 hard-dollar units at $0.18 for up to $400,000, each with warrants exercisable at $0.25 for 36 months, subscribed by two institutional shareholders, with a finder's fee of up to 6% cash and closing expected on or before June 30, 2023. Proceeds will fund an additional drill hole this month into the kimberlite breccia complex at the Northway property in northern Ontario, increasing core for an initial micro-diamond evaluation at the SRC laboratory in Saskatoon.
FinancingVR Provides Exploration Update for Ontario and Nevada Properties
Three drill holes totalling 1,035 metres were completed in three areas of REE critical metal mineralization at the Hecla-Kilmer project in northern Ontario, with geochemical data and metallurgy/beneficiation results from Hole 013 core expected by late summer. An additional hole is planned at the nearby Northway kimberlite discovery before the drill demobilizes. At New Boston in Nevada, an airborne magnetic-VLF-EM-radiometric survey over a 3 x 5 km block (241 line-km) and a 3D IP survey over 1.6 x 2.2 km generating over 80,000 data points were completed, funded by last month's $1.9m financing.
Drill resultsVR confirms kimberlite diatreme breccia in Hole 002 at the center of the large, 1.2 km magnetic anomaly at Northway in northern Ontario
Drill hole NW23-002, collared in the center of the 1.2 km diameter magnetic anomaly at the Northway project in northern Ontario, intersected kimberlite diatreme breccia 450 metres northwest of hole 001. The top of the breccia occurs at 240 m vertical depth in both holes, beneath early Devonian sandstone and limestone cover; hole 002 ended at 357 metres after caving at the unconformity. Core has been shipped for micro-diamond and compositional analysis at SRC in Saskatoon, with results anticipated by end of summer.
Drill resultsVR Strengthens its Board, Corporate Compliance and Advisors as 2023 Exploration Gets Underway at its Northway and Hecla-Kilmer Properties in Northern Ontario
Keith Inman has joined the board of directors effective immediately, Terese Gieselman has been appointed Corporate Compliance Officer, and Kevin Kivi, PGeo, joins as Technical Advisor. The appointments come as drilling begins at the Northway kimberlite breccia pipe and the Hecla-Kilmer REE critical metals project in northern Ontario, following the close of a $1.9M financing; two geophysical surveys are planned this spring at the New Boston property in Nevada. The Company also approved 1,825,000 incentive stock options at $0.19, exercisable for five years.
ManagementVR Closes Financing for Gross Proceeds of Approximately $1.9 Million
A non-brokered private placement has closed for gross proceeds of $1.88 million, comprising 7,971,250 flow-through units at $0.16 for $1,275,400 and 4,300,743 hard dollar units at $0.14 for $602,104, each unit including one share and a half warrant exercisable at $0.23 for eighteen months. The final tranche issued 1,270,743 units for $177,904, with cash fees totalling $53,644 across the financing. Proceeds will fund spring drilling at the Northway kimberlite and Hecla-Kilmer REE project in northern Ontario, expected to take about one month, and two geophysical surveys at New Boston in Nevada.
FinancingVR Closes $1.7m in First Tranche of Financing, and commences plans for drilling at its Northway kimberlite pipe discovery and Hecla-Kilmer REE project in northern Ontario
A first tranche of $1.7 million has closed under VR Resources' non-brokered private placement of $2 million, comprising 7,971,250 flow-through units at $0.16 for gross proceeds of $1,275,400 and 3,030,000 hard dollar units at $0.14 for $424,200; units include one share and one-half warrant exercisable at $0.23 until October 19, 2025, with cash fees of $51,250 paid and a hold period expiring August 20, 2023. Proceeds fund a spring drill program in northern Ontario, with drilling planned at the Northway kimberlite breccia pipe in the second week of May, followed by the Hecla-Kilmer REE property.
FinancingVR announces $2m non-brokered private placement to solidify plans for follow-up drilling at its Hecla-Kilmer REE and Northway kimberlite discoveries
A $2 million non-brokered private placement has been launched, comprising up to 8,571,429 flow-through units at $0.16 for up to $1,200,000 and up to 5,714,286 hard-dollar units at $0.14 for up to $800,000, each unit including a half warrant exercisable at $0.23 for 18 months from closing. A finder's fee of up to 6% cash may be paid, with closing expected on or before April 28, 2023, subject to TSX Venture Exchange approval. Proceeds will fund May drilling at the Hecla-Kilmer REE and Northway kimberlite discoveries in northern Ontario, plus working capital.
Financing
202213 releases
VR opens up the Hecla-Kilmer camp in preparation for drilling, and completes expansion of high-resolution drone magnetic survey
Exploration has started at the Hecla-Kilmer copper-gold-critical metals property in northern Ontario, with the camp re-established at Otter Rapids, 23 km southeast of the property, and drilling expected to commence in about three weeks. The 2021 drone magnetic survey has been expanded four-fold, now covering roughly 3.4 x 4.5 km with 121 lines at 25 and 50 m spacing for 410 line-km, flown at 30 m altitude. The third drill program will test previously undrilled analytic signal magnetic highs, following nine holes drilled in 2020 and 2021.
Drill results
202118 releases
Drilling is Underway at VR's Hecla-Kilmer Copper-Gold Breccia Target in Northern Ontario
Diamond drilling began on September 12, 2021 at the Hecla-Kilmer copper-gold-REE breccia target in northern Ontario, with four to six holes totalling up to 3,000 m expected to take four to six weeks. The program targets the centre of a 3.5 mGal gravity anomaly defined by a March 2021 ground survey, west of two 2020 holes that intersected copper, gold and REE mineralization in hydrothermal breccia over 600 vertical metres. Geochemical results are expected by year-end.
Drill resultsVR confirms REE mineralization at its Hecla-Kilmer copper-gold IOCG breccia target in northern Ontario, and finalizes plans for follow-up drilling in September
Re-assays of sample pulps from drill hole HK20-002 at the Hecla-Kilmer property in northern Ontario returned 0.628% TREO over 23.40 m from 159.60 m and 0.514% TREO over 53.00 m from 553.00 m, including 0.666% TREO over 18.35 m from 566.65 m. Logistics for follow-up drilling have been finalized, with mobilization planned for late August and a framework of up to six holes and 3,000 m over 4-6 weeks, targeting the centre of a 400 x 800 m, 3.5 mGal gravity anomaly.
Drill resultsVR completes Phase II drilling at its Reveille silver-copper property in Nevada
Phase II of the first-pass RC drill program at the Reveille silver-copper-gold property in Nevada's Walker Lane belt is complete, with four holes totalling 1,552 metres, bringing the property total to nine holes. Two holes testing the Kawich IP anomaly reached about 450 m depth and each intersected more than 150 m of sulfide starting at 120 m depth; geochemical results are not expected until the end of summer. The Company also allocated 1,425,000 incentive stock options at $0.45, exercisable for five years.
Drill resultsVR commences Phase II drilling at its Reveille silver-copper property in Nevada
Phase II drilling has begun at the Reveille silver-copper-gold property in Nevada's Walker Lane belt, with four holes planned at 1,000–1,500 feet depth: two testing the roots of the G1 breccia pipe and two testing the core of the new Kawich IP anomaly. The program is expected to take 2–3 weeks, with geochemical results anticipated by the end of the summer. Phase I's four RC holes totalling more than 1,325 metres did not intersect material silver or copper concentrations.
Drill resultsVR confirms breccia pipe at G1 gold target at Reveille, extends drilling, and expands the property based on a new 3D DCIP anomaly
Drill hole RVD21-001 at the G1 target on the Reveille silver-copper-gold property in Nevada's Walker Lane belt was completed to 109.7 m, confirming a breccia pipe starting at surface. Three additional RC holes are planned to start next week to test the base of the pipe and its controlling structure. Final data from the March 3D-array DCIP survey defined a new IP anomaly with a 450 x 600 m core, amplitude above 25 mV/V to a maximum of 32 mV/V, and a top less than 150 m from surface; both the IP grid and the property have been extended westward.
Drill resultsVR Resources Closes Non-Brokered Private Placement for Gross Proceeds of $1 Million
A non-brokered private placement closed for gross proceeds of $1 million, comprising 1,428,571 units at $0.35 per unit and 1,190,476 flow-through shares at $042 per FT share. Each unit includes one common share and one-half warrant exercisable at $0.55 for 18 months from closing; the Company paid cash fees of $30,000 and issued 71,429 compensation warrants on the same terms. Net proceeds will fund exploration on properties in Ontario, Canada and Nevada, USA.
FinancingVR announces $1m non-brokered private placement to solidify plans follow-up drilling in September at its Hecla-Kilmer copper-gold property in Ontario
A $1,000,000 non-brokered private placement has been launched, consisting of up to 1,190,476 flow-through shares at $0.42 for $500,000 and 1,428,571 units at $0.35 for $500,000, each unit including one common share and one-half warrant exercisable at $0.55 for 18 months from closing. A finders fee of up to 6% cash and 6% finders warrants at $0.55 may be paid. Proceeds will fund planning for September follow-up drilling at the Hecla-Kilmer IOCG project in Northern Ontario, with closing expected on or before May 21, 2021.
FinancingVR identifies 3.5 mGal gravity anomaly at its Hecla-Kilmer property in Northern Ontario, and planning is now underway for Phase II follow-up drilling in September
Final data from a March ground gravity survey at the Hecla-Kilmer property in Northern Ontario outlined a 400 x 800 m anomaly with a 3.5 mGal contrast to surrounding rock, defined by 55 stations and coincident with a magnetic inversion anomaly. The survey covered about 1.5 x 3.5 km with 597 stations, 573 on 100 m spacing and 24 on 50 m infill. The anomaly lies immediately west of 2020 drill holes HK20-002 and 004; Phase II drilling is planned for September.
Drill resultsThe drill is back at VR's Reveille property in Nevada to test the jasperoid breccia-pipe gold target named G1
A track-mounted diamond drill rig is turning at the Reveille property, 90 km east of Tonopah, Nevada, to complete a core hole on the G1 jasperoid breccia-pipe gold target, which was not tested by the truck-mounted rig in February. G1 sits on a gravity low anomaly coincident with the property's strongest gold soil anomaly, from a 287-sample grid at 50–150 m spacing. Geochemical results from the four earlier RC holes, totalling 4,347 feet, are expected by earliest May, ahead of a planned Phase II program.
Drill results
202012 releases
2,600 g/t Silver and 1.4% Copper pop as VR completes an array of early-stage surveys across the Reveille property and CRD mineral system in Nevada
Grab sampling at the Reveille silver-copper property in west-central Nevada returned 2,600 g/t silver and 1.4% copper at Lost City and 2,200 g/t silver and 1.2% copper at Lincoln, with 148 of 161 grab samples above 1 g/t silver, 10 above 0.5% copper, and six showings exceeding 100 g/t silver and 1% copper. Summer work included airborne hyperspectral and VTEM+ surveys, a 638-station ground gravity survey, and property-wide mapping. A follow-up surface program is planned this fall.
Drill resultsVR Closes Acquisition of the Reveille High Grade Silver Property in Nevada, and Commences Exploration on the Ground Immediately
The acquisition agreement for the Reveille silver property in Nevada, announced June 22, 2020, has closed, with exploration to begin immediately. Reveille comprises 57 mineral claims in one contiguous block covering 1,157 acres (468 hectares) about 90 km east of Tonopah, with no underlying lease payments or joint venture interests. Prior grab samples include up to 1,100 g/t Ag at Silver Ace, 306–2,810 g/t Ag at Lincoln, and a 12 m chip sample of 320 g/t Ag at Pete. Initial work comprises airborne magnetics, EM and hyperspectral surveys.
AcquisitionVR Acquires the Reveille Silver Property to Expand its Big Ten Epithermal Gold-Silver Strategy in Nevada
A binding agreement dated June 22, 2020 gives VR Resources the right to acquire a 100% interest in the Reveille silver property, 57 claims covering 1,157 acres (468 hectares) about 90 km east of Tonopah in Nevada's Walker Lane, roughly 75 km southeast of its Big Ten gold project. Terms are US$20,000 and 100,000 shares on closing, a further US$50,000 and 100,000 shares on start of diamond drilling, and a 3% NSR royalty. Closing requires TSX Venture Exchange acceptance.
AcquisitionVR Resources Closes Hecla-Kilmer Acquisition in Ontario And Commences Copper-Gold Exploration Immediately
The acquisition of the Hecla-Kilmer copper-gold property in northern Ontario has closed, on terms disclosed June 15, 2020, with exploration starting immediately. The property comprises 80 mineral claims in one contiguous block covering 1,649 hectares, about 35 km southwest of VR's Ranoke property, and is centred on a concentrically zoned magnetic anomaly 4–6 km across. VR has completed a third-party 3-D inversion of public magnetic data and plans a high-resolution airborne EM survey in the coming weeks.
AcquisitionVR Acquires New Ground to Expand Its Copper-Gold Strategy at Ranoke in Northern Ontario
A binding agreement dated June 15, 2020 will give VR Resources a 100% interest in the Hecla-Kilmer carbonatite complex in northern Ontario, located about 35 km southwest of its Ranoke property. Terms include $15,000 and 75,000 common shares on closing, a further $50,000 and 100,000 shares if drilling starts within 24 months, and a 3% net smelter returns royalty to the vendors. The property comprises 80 claims covering 1,649 hectares; closing requires TSX Venture Exchange acceptance.
AcquisitionVR Increases Non-Brokered Private Placement to $2.2 Million
A previously announced non-brokered private placement has been increased to up to $2.2 million, consisting of up to 8,725,486 units at $0.22 per unit, each with one common share and one-half warrant exercisable at $0.35 for 18 months, plus up to 1,291,667 flow-through shares at $0.24, for gross proceeds of up to $2,229,607. A 6% cash and warrant finder's fee may be paid on select proceeds excluding insider funds. Proceeds will fund exploration in Nevada and Ontario and general administrative costs, with closing expected around June 12, 2020.
FinancingVR Bolsters Its Exploration Strategy at Ranoke and Big Ten; Announces Non-Brokered Private Placement
VR Resources has signed two non-binding letters of intent covering opportunities near its Ranoke copper-gold property in Ontario and its Big Ten gold project in Nevada, with terms to be announced upon execution of final acquisition agreements. The company also plans a non-brokered private placement of up to 5,000,000 units at $0.22 (one share plus a half warrant exercisable at $0.35 for 18 months) and up to 1,000,000 flow-through shares at $0.24, for gross proceeds of up to $1,340,000, closing around June 12, 2020.
FinancingVR Discovers 311 g/t Ag and 4 g/t Gold at Surface in the Alteration Cap at Amsel in its Big Ten Gold Project in Nevada, and Stakes Additional Ground
A surface grab sample of quartz-adularia altered tuff at the Amsel target, Big Ten gold project in Nye County, Nevada, returned 311 g/t Ag and 4.1 g/t Au, one of 135 grid samples collected for alteration mineral mapping within the 2 x 3 km potassium anomaly. The Amsel property has been expanded a third time to 66 claims covering 1,363 acres. An NI 43-101 technical report recommending first-pass drilling has been filed on SEDAR, and drill permit field surveys are expected to begin shortly.
Drill results
201914 releases
VR Discovers Large Gravity Anomaly at it's Ranoke Copper-Gold Property in Ontario, Initiates IP Geophysics and Commences Drill Permitting
An airborne survey at the Ranoke copper-gold property in northern Ontario defined a gravity anomaly measuring approximately 4 x 8 kilometres with greater than 2.5 mGal contrast to country rock, co-spatial with a magnetic anomaly exceeding 1,000 nT contrast; 3-D inversion models the northern portion as near-vertical and continuous from near-surface to depth. A ground induced polarization survey deploys at the end of this week and will take about two weeks. Drill permitting with the Ontario MNDM has begun.
Drill resultsVR Resources Announces Closing of Non-Brokered Private Placement
A non-brokered private placement of 2,200,000 units at $0.22 per unit closed for aggregate proceeds of $484,000, with each unit comprising one common share and one-half warrant exercisable at $0.40 for 18 months from closing. Insiders participated, a cash finders fee of $7,332.38 was paid, and the securities are subject to a four month hold period expiring December 15, 2019. Proceeds will fund exploration in Ontario and Nevada and general corporate purposes. The Company also issued 1,000,000 incentive options at $0.28 expiring August 14, 2029.
FinancingVR Announces Non-Brokered Private Placement
A non-brokered private placement of up to 2,000,000 units at $0.22 per unit for aggregate proceeds of up to $440,000 is planned. Each unit comprises one common share and one-half warrant exercisable at $0.40 for 18 months from closing. Insiders intend to participate, a 6% commission may be paid on select proceeds, and closing is expected on or before August 30, 2019. Proceeds will fund mineral exploration in Nevada and Ontario and general administrative costs.
FinancingVR Plans for Summer Exploration at Its Big Ten Epithermal Gold Project in Nevada
Summer surface exploration is planned to begin in mid-July at the Amsel property within the Big Ten epithermal gold project in the Walker Lane belt of west-central Nevada. Work will include grid-based soil geochemistry for gold, silver and epithermal trace elements, hyperspectral alteration mineral mapping of rock samples, and outcrop-scale mapping and sampling across the 2 by 3 kilometre potassium radiometric anomaly and silicified hilltop. Pending results, an induced polarization survey may follow this fall. Big Ten comprises seven 100%-owned properties, 75 claims covering 1,526 acres.
Drill resultsVR Resources Closes Second Tranche of Its Private Placement
The second and final tranche of a non-brokered private placement has closed, with 1,715,385 units issued at $0.13 per unit and 70,000 flow-through common shares at $0.15 for gross proceeds of $233,500, plus 857,692 warrants exercisable at $0.25 for eighteen months. Aggregate gross proceeds from the placement total $883,500 from 6,118,719 common shares, with finders fees of $6,259.50 paid on the second tranche. Proceeds will fund exploration in Nevada and at the Ranoke property in Ontario.
FinancingExploration Is Underway at VR’s Ranoke Copper-Gold Property in Ontario
Exploration work has begun at the 100%-owned Ranoke copper-gold property in northern Ontario, comprising 345 claims over 7,072 ha. Sander Geophysics is flying a fixed-wing high-resolution airborne gravity and magnetic survey over a 13 x 14 kilometre block at 200 metre line-spacing with one kilometre tie lines, with data expected in 4-8 weeks. C.O. Geosciences will collect 156 soil gas stations on five transects four to five kilometres long, reporting in August; first-pass drilling is being considered for this fall. The closing date of the non-brokered financing announced May 10, 2019 was extended to June 24, 2019.
Drill resultsVR Resources Closes First Tranche of Private Placement for Gross Proceeds of $650,000
The first tranche of a non-brokered private placement closed with 4,333,334 flow-through common shares issued at $0.15 each for gross proceeds of $650,000, subject to a four month hold period expiring September 17, 2019. The Company paid cash fees of $30,000 and issued 200,000 finder warrants exercisable at $0.25 for 18 months from closing. Proceeds will fund three geophysical and geochemical surveys at the Ranoke property in Ontario this spring and summer.
FinancingVR Announces Non-Brokered Private Placement of Up to $1.3 Million
A non-brokered private placement of up to $1.3 million comprises up to 4,500,000 flow-through shares at $0.15 for gross proceeds of $675,000, which has been fully subscribed, and up to 5,000,000 units at $0.13 for $650,000, each unit including a half warrant exercisable at $0.25 for 18 months from closing. A 6% cash commission may be paid on select proceeds. Flow-through funds will support geophysical and geochemical surveys at the 7,072 ha Ranoke property in Ontario, with share proceeds for Nevada exploration and general purposes. Closing is expected on or before May 31, 2019.
FinancingVR Stakes Additional Properties to Extend Its Holdings Along Its Big Ten Epithermal Gold Trend in Nevada
Additional claims have been staked along the 20 km Big Ten Tertiary epithermal gold trend in the Walker Lane belt of Nye County, west-central Nevada, giving VR Resources seven properties totalling 75 claims over 1,526 acres. New staking covers Hat Peak (4 claims, 83 acres), Kano (3 claims, 62 acres), Fisher (4 claims, 83 acres), Amsel (18 new claims, expanded to 24 claims, 496 acres) and Little Joe (2 claims, 41 acres), following 2018 reconnaissance and airborne magnetic, radiometric and hyperspectral surveys.
CorporateVR Acquires New Large-Scale Copper-Gold Target in Ontario
VR Resources has staked the Ranoke copper-gold property in northern Ontario, consisting of 345 claims in one contiguous block covering 7,072 ha over a 12 x 12 kilometre area, 50 kilometres north of road access to Coral Rapids and 15 kilometres from the CNR railway. The target is a cluster of three or four pipe-like magnetic anomalies, the largest 2.5 km in diameter with total magnetic intensity above 5,000nT. Three geophysical and geochemical surveys are planned for this spring, with drilling possible later this year.
Acquisition
201813 releases
Exploration Update on VR’s Copper-Gold Properties in Nevada
Four holes totalling 1,860 metres have been completed at the Hemco target on the Bonita property in Nevada, with 305 core samples assayed; all four intersected continuous porphyry-style alteration, including 358 m of continuous alteration in BN-18-005, 60 metres of visible copper minerals in potassic alteration in BN-18-006 with one 1.5 m interval of 0.3 g/t Au and 617 ppm Cu, 56 metres of vein stockwork in BN-18-007, and 515 metres of alteration in BN-18-008. At Junction, geophysical, soil (371 plus 307 samples) and mapping work supports a first-pass diamond drill program planned for this fall.
Drill resultsSpring Exploration Bolsters Copper-Silver-Gold Targets at Junction Property, Nevada
Spring surface exploration at the Junction copper-silver-gold property in Humboldt County, northwestern Nevada, has defined three targets along a 6 km trend of veins: Denio Summit, Lone Mountain and Wilder Creek, each with coincident soil geochemical, magnetic, radiometric, gravity or chargeability anomalies. Work completed included a 434 line-kilometre airborne magnetic and radiometric survey, a 437-station ground gravity survey, two 2 km IP test lines and 276 new soil samples. A first-pass diamond drill program is planned for this fall, with structural mapping and in-fill soil sampling starting later this month.
Drill resultsVR Resources Closes Property Acquisition in Nevada
The acquisition of the Kraut Property in Nevada has closed, on terms announced May 1, 2018. Kraut comprises 6 mineral claims in one contiguous block covering 124 acres in the southern Walker Lane belt of west-central Nevada, about 5 kilometres northwest of VR's Danbo Property in Nye County. Surface exploration at Kraut is planned to begin early this summer, evaluating an area of alteration and surface gold geochemistry.
AcquisitionVR Commences Drilling at Its Bonita Copper-Gold Porphyry, Nevada
Drilling has begun at the Bonita copper-gold porphyry property in Humboldt County, Nevada, with 2,000 metres planned across two holes on each of two breccia pipe targets, Hemco and Corral, over roughly two months. The program tests two covered, previously untested conductivity pipes 750–1,000 m in diameter with vertical extents greater than one kilometre, identified in a 2017 airborne resistivity survey. Bonita comprises 429 claims totalling 3,586 ha, held 100% by VR.
Drill resultsVR Resources Acquires New Ground to Expand its Epithermal Gold Exploration Strategy Around its Danbo Property, Nevada
A binding agreement dated April 27, 2018 will give VR Resources a 100% interest in the Kraut property, six claims covering 124 acres (50 hectares) in Nye County, Nevada, about 5 kilometres northwest of its Danbo property, from Nevada Select Royalty, a subsidiary of Ely Gold & Minerals. Terms are USD$10,000 and 50,000 shares on closing, plus USD$50,000 and 50,000 shares on commencement of diamond drilling, and a 2% NSR royalty. Surface exploration is intended to begin early this summer; closing requires TSX Venture Exchange acceptance.
AcquisitionVR Commences 2018 Surface Exploration at Junction; Gravity Anomaly Confirms the Down-Dip Potential of Copper-Silver Veins
A completed gravity survey of 437 stations over a 13 by 4 kilometre block at the Junction copper-silver property in Humboldt County, northwestern Nevada, outlined a large, high-contrast gravity anomaly at the Denio Summit target that VR interprets as the down-dip continuation of surface copper-silver veins. Two 2-kilometre induced polarization test lines are now underway, with airborne magnetic and radiometric surveying over 440 line-kilometres and about 400 new soil samples planned. Staking of 19 additional claims brings the property to 179 claims covering 3,698 acres.
Drill resultsVR Resources Closes Additional Placement to Advance Copper-Gold Exploration Nevada
A non-brokered private placement of 2,595,000 units at $0.27 per unit closed for aggregate proceeds of $700,900, with each unit comprising one common share and one-half warrant exercisable at $0.40 for 24 months; finders were paid cash fees of $26,200 and the securities are subject to a four month hold period expiring August 14, 2018. Proceeds will fund surface exploration at the Junction copper-silver property and a planned follow-up drill program at the Bonita copper-gold property in Nevada. The Company also approved 1,550,000 incentive stock options at $0.30, exercisable for ten years.
FinancingVR Announces Second Private Placement to Augment 2018 Exploration Budget
A non-brokered private placement of 2,595,925 units at $0.27 per unit for aggregate proceeds of $700,900 was announced, with each unit comprising one common share and one-half warrant exercisable at $0.40 for 24 months from closing. A 5% commission may be paid on select proceeds in cash or units. Proceeds will fund mineral exploration on VR's Nevada properties, particularly expanded work at the Junction Cu-Ag property, and general corporate purposes. Closing is expected on or before April 17, 2018.
FinancingVR Resources Acquires New Ground To Further Expand Its Junction Copper-Silver Property In Nevada
The Junction copper-silver property in northern Nevada has been expanded ten-fold from its September 2017 size to 160 claims covering 3,306 acres (1,338 hectares), via staking of 125 claims over the past four months and acquisition of 20 claims adjacent to the northeast end of the main block. The acquisition, under a binding agreement dated April 4, 2018, requires US$6,000 and 50,000 VR shares on closing, a further 50,000 shares on completion of a first-pass diamond drill program, and a 3% NSR royalty, half of which can be bought down at US$500,000 per 0.5%. Surface exploration is underway.
Acquisition
201711 releases
VR Resources Acquires Junction Copper-Gold Property, Nevada
A binding agreement dated August 28, 2017 gives VR Resources the right to acquire a 100% interest in the Junction copper-gold property in Humboldt County, Nevada, from Sunrise Resources PLC, comprising 15 claims over 310 acres (125 hectares) about 50 kilometres north of the Bonita property. Terms include US$10,000 and 50,000 shares on closing, 50,000 shares on completing a first-pass drill program, 250,000 shares on filing an NI 43-101 resource estimate, and a 3% NSR royalty, half buyable for US$500,000 per half percent. Mapping, geochemistry and geophysics are planned this fall.
AcquisitionVR Resources Acquires New Boston Property, Nevada
A binding agreement dated August 28, 2017 gives VR Resources the right to acquire a 100% interest in the New Boston property in Mineral County, Nevada — 17 claims over 351 acres (142 hectares) about 150 km southeast of Reno — from Nevada Select Royalty, a subsidiary of Ely Gold & Minerals. Terms include US$10,000 and 50,000 VR shares on closing, a further 50,000 shares upon completion of a diamond drill program, and a 2% NSR royalty buyable down by half at US$500,000 per half percent. Closing is subject to TSX Venture Exchange acceptance, and the property reverts to Ely Gold if drilling is not completed within 18 months.
AcquisitionDrilling Is Underway At VR Resources’ Bonita Copper-Gold Property, Nevada
Drilling has begun at the Bonita copper-gold property in Humboldt County, Nevada, with an approved program of 3,000 m in four holes, one on each of four targets. The first hole is underway at Copper Queen in the eastern part of the property, and the program is expected to take 10 to 12 weeks. The holes will test IP chargeability anomalies at Copper Queen, Whiskey Bottle, Bonita South and Hobbit. VR owns the 429-claim, 3,586 ha property 100%.
Drill resultsVR Resources Approves Summer Drill Program At Bonita Copper-Gold Property, Nevada
A 3,000 metre diamond drill program at the Bonita copper-gold property in Humboldt County, Nevada has been approved by the board, with a drill permit granted by the federal Bureau of Land Management and a services agreement executed with Boart Longyear Company. Start-up is targeted for early August, with the program expected to take two to three months. The initial plan is at least one hole in each of four priority targets, testing IP chargeability anomalies.
Drill resultsVR Resources Stakes New Property In Nevada To Expand Its Copper-Gold Exploration
A new copper-gold property, Big Creek, has been staked in the Pine Forest Range of northwestern Nevada, comprising 30 claims in one contiguous block covering 620 acres (250 hectares), owned 100% with no royalties and annual BLM land maintenance fees of US$5,800. The claims were staked after regional data compilation, reconnaissance fieldwork and ASTER satellite mineral reflectance data identified an anomaly over an altered, veined and brecciated granite stock. First-pass diamond drilling remains planned this summer at the Bonita property in Humboldt County.
CorporateVR Resources Completes IP Survey At The Bonita Copper-Gold Property, Nevada
A six-week spring surface exploration program has been completed at the wholly owned Bonita copper-gold property in Humboldt County, northwestern Nevada, including an induced polarization survey of 7 lines over 16 line-kilometres at 150 and 200 m dipole spacing across all 8 priority targets. The IP work confirmed and refined all eight previously established porphyry copper targets. Other work included 1:5,000 scale mapping over a 7 x 7 km area, 14 rock samples, 206 soil samples and one geochronology sample. Results are being used to prioritize targets for a first-pass diamond drill program planned this summer.
Drill resultsVR Resources Stakes More Ground To Extend The Bonita Copper-Gold Property, Nevada
The wholly owned Bonita copper-gold property in Humboldt County, northwestern Nevada has been expanded 32% by staking 103 additional claims extending the existing 326-claim property to the south and east, bringing the total to 429 claims covering 3,586 ha, roughly 5 x 6 kilometres. VR expects to complete at least one IP test line over a target on the new ground during the current induced polarization program, and continues planning a first-pass drill program at Bonita this summer.
CorporateVR Resources Starts IP Geophysics At Bonita Copper-Gold Property, Nevada
An induced polarization survey began May 10 at the wholly owned Bonita copper-gold property in Humboldt County, northwestern Nevada, testing eight targets for buried porphyry copper stocks; three of the eight lines were completed in December 2016 and the remaining five, run by Reno-based Zonge International, are expected to take about two weeks. Other work includes 207 soil samples from 5 lines, detailed mapping of four target areas, BLM drill permitting and drill contract discussions. Bonita covers 6,735 acres across 326 claims.
Drill resultsVR Resources Initiates Spring Exploration Program At Bonita Copper-Gold Property, Nevada
A two-week field program has begun at the wholly owned Bonita copper-gold property in Humboldt County, northwestern Nevada, comprising geological mapping, prospecting and rock sampling, 150 to 200 soil samples on 7 lines across 4 target areas, and access road repairs. Eight priority drill targets have been outlined for porphyry-style copper-gold mineralization, and meetings in Nevada are being held to secure a Bureau of Land Management drill permit and drilling bids for a planned summer program. An IP geophysical survey is planned for later in May.
Drill resultsVR Resources Ltd. Provides Corporate Update
A change of auditors from MNP LLP to Davidson & Company took effect April 6, 2017, with the former auditors resigning at the Company's request and the board appointing the successor auditor until the close of the next Annual General Meeting. The board also changed the fiscal year end from December 31 to March 31, effective immediately. There were no reservations in the former auditor's reports for the two most recently completed fiscal years and no reportable events.
Corporate