VR Submits Drill Permit Application for its New Boston Moly-Tungsten-Copper-Silver Porphyry Project in Nevada
MWN-AI** Summary
VR Resources Limited has submitted a Notice of Intent (NOI) drilling permit application to the Nevada Bureau of Land Management for its New Boston moly-tungsten-copper-silver porphyry project, as announced on February 19, 2026. This follows the successful issuance of a similar NOI for the East Zone target in 2024, which was processed in just 15 business days. The current application targets the Jeep Mine area on the western side of the New Boston system, which has a significant east-west surface exposure of 3-4 kilometers.
Dr. Michael Gunning, CEO of VR Resources, expressed enthusiasm about the exploration progress at New Boston, highlighting the completion of a state-of-the-art 3D array DCIP geophysical survey in 2023. The survey identified conductivity anomalies, with drills confirming significant copper and silver mineralization in 2024. The inversion models for these anomalies were recently reviewed with Dias Geophysical, enhancing the understanding of the geology in preparation for the proposed drilling at Jeep Mine in spring 2026.
The New Boston project showcases impressive geological features, including extensive sheeted and stockwork veining over a long strike length, indicating the area’s potential for polymetallic resource density and quality. The strong local infrastructure further enhances the project's feasibility for exploration and operations. VR Resources continues to leverage modern exploration technologies and its team’s expertise to advance opportunities in this underexplored region.
For those interested, additional field videos detailing the geology and infrastructure at New Boston are available on the Company’s website, underscoring the project's promising potential within the mining sector.
MWN-AI** Analysis
VR Resources Limited (TSXV: VRR) has recently made a strategic move by submitting an application for a drill permit for its New Boston moly-tungsten-copper-silver porphyry project in Nevada. This development comes on the heels of previous successful drilling activities, underscoring the promising mineralization detected on property. Investors should watch closely, as positive outcomes from upcoming drilling could enhance valuations significantly.
The importance of the New Boston project cannot be overstated. The reported 3-4 km surface strike length with identified sheeted and stockwork veins, along with strong mineralization including copper and silver, serve as solid indicators of potential profitability. Companies involved in multi-metal exploration, particularly in regions with robust infrastructure like Nevada, tend to draw investor interest due to lower operational risks and enhanced economics.
Dr. Michael Gunning, CEO of VR, highlighted the favorable feedback from geophysical surveys which adds credence to the project’s potential. The dual focus on both molybdenum and tungsten alongside copper and silver diversifies the commodity exposure, which may appeal to investors looking for stability amidst commodity price fluctuations.
However, potential investors should remain cautious. While there are significant upside opportunities, VR Resources operates in a highly speculative sector that involves inherent market risks, including regulatory approvals and operational challenges. The performance of VR shares in the near term could be largely influenced by the speed and outcome of regulatory processes and drilling results.
In conclusion, for investors considering VR Resources, the New Boston project represents a potential value proposition but comes with typical exploration risks. Monitoring the progress of the NOI permit approval and upcoming drilling results will be crucial for making informed investment decisions.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
VANCOUVER, British Columbia, Feb. 19, 2026 (GLOBE NEWSWIRE) -- VR Resources Limited (“VR” or the “Company”, TSXV: VRR) is pleased to announce that it has submitted its application for a Notice of Intent (“NOI”) drill permit to the Nevada Bureau of Land Management (the “BLM”) for its New Boston moly-tungsten-copper-silver porphyry project in Nevada.
The Company applied for, and received a similar NOI permit from the BLM for its drilling on the East Zone target at New Boston in 2024 within 15 business days, and anticipates a similar process time frame for the current application for the Jeep Mine target which is on the western side of the overall porphyry system at New Boston, exposed on surface across a 3 – 4 km strike east-west.
Dr. Michael Gunning, Chief Executive Officer of the Company, commented: “We are pleased to have the ball rolling again for our exploration at New Boston.
VR completed a state-of-the-art, 3D array DCIP geophysical survey over the central part of the porphyry system at New Boston in 2023. Conductivity anomalies at East Zone identified in that survey were drill tested the following year, in 2024, and demonstrated copper and silver mineralization in continuous and intense stockwork veining in more than 1,500 ft of drill core in Hole 002.
Prior to the submission of the drill permit application for Jeep Mine in the western part of the system, the inversion models for the DCIP survey were reviewed, for Best Practice, with the team at Dias Geophysical, a leading provider of geophysical services, during the recent AME Mineral Exploration Conference held in Vancouver three weeks ago. Co-spatial and steeply plunging conductivity and IP chargeability anomalies at Jeep Mine are better understood based on the review, and will be tested in the planned upcoming drilling as the potential vein and sulfide center of the overall porphyry system at New Boston.
The field photographs included on the following pages illustrate and emphasize two key messages for New Boston; firstly, scale, with sheeted and stockwork veining exposed on surface over a 3 – 4 km strike east-west, and; secondly, vein intensity, with early sheeted veins in host rock limestone crosscut by stockwork veining. It is the polyphase, stockwork veining events that have the best potential to increase sulfide density and thus polymetallic grade in moly, tungsten, copper and silver.
Strong local infrastructure is also a key factor for New Boston, providing a strategic advantage for cost-effective mineral exploration and operations alike in the region.
Please note that there are also two, on-site field video’s taken last week and available on the New Boston Project Page on the Company’s website. They further illustrate the key messages here with regard to vein intensity at New Boston, and the history and strength of local infrastructure in the region for mineral exploration.”
https://vrr.s3.us-east-1.amazonaws.com/CEO_SiteVisitVideo_NewBoston_Feb2026_Infrastructure.mp4
https://vrr.s3.us-east-1.amazonaws.com/CEO_SiteVisitVideo_NewBoston_Feb2026_Geology.mp4
Figure 1. New Boston has scale. Sheeted dykes and sheeted and stockwork veins with tungsten, moly, copper and silver are exposed on surface over an east-west strike length of more than 3km. Yellow text highlights, for example, silver content in surface grab samples of veins by VR. Conductivity anomalies at East Zone were drilled by VR in 2024. Co-spatial conductivity - IP chargeability anomalies at Jeep Mine are the target for drilling planned for the spring of 2026. Local infrastructure is strong at New Boston.
Figure 2. Polyphase vein intensity. Outcrop of sheeted veins in recrystallized limestone at Jeep Mine, cross-cut by vertical veins with high temperature alteration halos with deep red, iron-rich garnet. Steeply plunging conductivity anomalies from the state-of-the-art 3D array DCIP survey completed in 2024 are targeted for stockwork veining with tungsten, moly, copper and silver in the drilling planned for the spring of 2026 at Jeep Mine.
TECHNICAL INFORMATION
Technical information disclosed by the Company has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Technical information contained in this document, and on the Company’s website, has been reviewed on behalf of the Company by the President & CEO, Dr. Michael Gunning, PhD, P.Geo., a non-independent Qualified Person.
ABOUT VR RESOURCES LTD.
VR is an established junior exploration company based in Vancouver. VR evaluates, explores and advances opportunities in copper, gold and critical metals in Nevada, USA, and Ontario, Canada. VR applies modern exploration technologies, in-house experience and expertise in greenfields exploration to large-footprint mineral systems in underexplored areas/districts. The foundation of VR is the proven track record of its Board in early-stage exploration, discovery and M&A. VR owns its projects outright and evaluates new opportunities on an ongoing basis, whether by staking or acquisition.
ON BEHALF OF THE BOARD OF DIRECTORS
Dr. Michael H. Gunning
President & CEO
| For general information please use the following: | |
| Website: | www.vrr.ca |
| Email: | [email protected] |
| Phone: | 778-731-9292 |
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This news release contains statements that constitute "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this document include statements concerning the drill permit application for the Company’s New Boston property, and all other statements that are not statements of historical fact.
Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature, forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward- looking statements. Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with: general economic conditions; adverse industry events; future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada; the ability of the Company to implement its business strategies; competition; and other assumptions, risks and uncertainties.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
Trading in the securities of the Company should be considered highly speculative. All of the Company’s public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to review them.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/ca12bea9-9d98-4c01-82a3-f90915a698b5
https://www.globenewswire.com/NewsRoom/AttachmentNg/65b0d64d-0332-4215-ae81-3fa7c30ab451
FAQ**
What are the key geological features of the New Boston project that support VR Resources Ltd VRRCF's optimism for finding significant mineral deposits?
How does the local infrastructure around the New Boston moly-tungsten-copper-silver porphyry project enhance the operational efficiency for VR Resources Ltd VRRCF?
What are the expected timelines for VR Resources Ltd VRRCF's upcoming drilling activities at the Jeep Mine target following the recent NOI permit application submission?
How has previous drilling, such as the results from Hole 002, informed VR Resources Ltd VRRCF's strategies for the upcoming drilling campaigns at the New Boston project?
**MWN-AI FAQ is based on asking OpenAI questions about VR Resources Ltd (OTC: VRRCF).
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