VR Resources confirms approval for 16 New Boston drill sites
The Nevada permit amendment and reclamation bond are approved, while a dated drilling start and program budget remain unverified.
Theo Marchetti
VR Resources Limited CVEVRR OTCMKTSVRRCF, listed on the TSX Venture Exchange, confirmed on Tuesday that its New Boston tungsten exploration project in Nevada has 16 approved drill sites. The expanded coverage doubles the 8 potential locations permitted under the original March authorization.
According to its Oct. 20 release, the U.S. Bureau of Land Management approved the permit amendment on Sept. 16 and the associated reclamation bond on Oct. 9. VR says drilling may proceed, with follow-up work aimed at tungsten-bearing rock encountered in June.
VR shares CVEVRR closed at C$0.42 on the TSX Venture Exchange at 4:00 p.m. EDT on Oct. 19, according to Google Finance. That close preceded Tuesday's announcement.
The company's Sept. 24 update linked exploration planning to a completed private placement and described follow-up drilling as planned for the fall. The disclosures reviewed do not establish a drilling budget or calendar start date.
Approval Doubles Potential Drill Locations
VR submitted the amendment on Sept. 11 to expand the area covered by its Notice of Intent drill permit. The initial authorization, received on March 6, identified eight potential locations for drilling in the Jeep Mine area of New Boston.
The company said it inspected the approved sites during an Oct. 8 to 9 visit to scope logistics for the planned program. Existing roads provide access to virtually all of the permitted locations, according to the October release.
VR describes the follow-up target as the upper, 317-metre tungsten-bearing interval in hole NB26-003, completed in June. The interval begins at surface, within an 881-metre hole containing molybdenum, copper, tungsten and silver mineralization.
The release's field descriptions identify prospective locations east of the June hole. Site J5 is about 300 metres east, while an outcrop at Site J10 lies about 500 metres east. VR says the eastern outcrop contains stockwork quartz veins in garnet-rich altered limestone.
"Successful permitting and bonding is the first, and key hurdle to facilitate follow-up drilling at New Boston," chief executive Michael Gunning said in the release.
Fall Drilling Remains In Planning
VR's September update said the additional sites would expand coverage across a geophysical chargeability anomaly. Its October statement says the company has exploration modelling and geochemical and alteration data from the June hole to guide the follow-up work.
Elsewhere in Nevada, Allegiance Resources Corp. CNSXALLG FRABG5 announced on Oct. 16 that a three-day field program had begun at Golden Scheelite. That program involved mapping, grab sampling and ultraviolet prospecting across 17 claims, with laboratory analysis planned after fieldwork.
Read more: Allegiance Resources begins three-day Nevada tungsten field program
VR's September release targeted follow-up drilling for fall 2026. Its Oct. 20 update says planning is under way and promises further updates.
