en.Wedoany.com Reported - On July 7, 2026, VR Resources Ltd. completed a 2,892-foot-deep drill hole at the Jeep zone of the New Boston molybdenum-tungsten-copper-silver skarn project in central Nevada, USA, which intersected continuous, multi-stage sulfide-bearing vein structures. Results from full-core hyperspectral mineral scanning and continuous geochemical sampling of the entire intersection are currently pending.
Dr. Michael Gunning, CEO of VR, stated that drill hole NB26-003 achieved the project's primary objectives and exceeded expectations in length due to the veined and mineralized nature of the core. Further drilling will await the integration of all geochemical data from this long and complex multi-stage stockwork intersection to feed into the large project database the company has built over the past seven years. Currently, the company has eight approved drill sites on its NOI drilling permit. Data from NB26-003 will be used to prioritize different permitted drill sites for further drilling within the large-scale alteration, veining, sulfide, and intrusive center now taking three-dimensional shape at the Jeep zone.
Gunning outlined key takeaways from preliminary observations of the drill core that has undergone geochemical analysis: Continuity—nearly all core boxes from the entire 2,892-foot intersection record multi-stage stockwork veining with vein-hosted and disseminated sulfides; Breadth—NB26-003 did not drill through the target, and drilling terminated in sulfide-bearing veins when the near-vertical hole became unstable; Intensity—high-temperature garnet skarn alteration and marbleization of the host limestone occurred throughout the entire hole from top to bottom; Energy—vein geometries include sheeted, wavy/crumpled, stockwork, conjugate, planar fracture-seal, and vein breccias, appearing at various angles relative to the core axis throughout the entire 2,892-foot intersection from the top to the bottom of the hole; Multi-metal—surface geochemistry at the drill site shows molybdenum, tungsten, copper, and silver mineralization associated with quartz-garnet stockwork veins in gray limestone recrystallized into marble; Source—numerous porphyry intrusive phases present throughout the hole are considered the inferred source and driver of the mineralized sheeted veins exposed over approximately 2.1 kilometers along an east-west strike at New Boston surface.
The New Boston project features a mineral system scale, infrastructure location, Nevada's judicial history and heritage, and a multi-metal composition, aligning with current North American domestic critical metal supply and resilience initiatives. The company plans to provide further details on this drilling after receiving mineral data and analysis results, integrating the data, and formulating a plan.
VR Resources is a Canadian junior exploration company registered in British Columbia, focused on copper, gold, and critical metal projects in Nevada, USA. The company also launched a copper-nickel-platinum group metals-gold strategy in western Ontario, Canada, in 2024, which was successfully transferred in a transaction announced on February 26, 2026, and plans to achieve near-term upside potential through exploration milestones this summer and fall.
Both tungsten and copper are metals in high demand. Tungsten, as one of the strongest metals with the highest melting point, is crucial in wartime weapons manufacturing. China, Russia, and North Korea produce approximately 90% of the world's tungsten, leading the US to rush to secure stable domestic supply sources after tariffs triggered tensions between nations. Effective January 1, 2027, a federal procurement rule will prohibit the use of tungsten sourced from China, Russia, Iran, and North Korea in US defense operations. The entire tungsten market is expected to grow from $5.78 billion in 2026 to $9.19 billion by 2034. After a 667% surge in early 2026, demand for this metal remains strong.
Copper demand is also expected to rise due to continued use in electronics, especially with the widespread construction of new data centers and defense needs in the US. A report from Businessworld indicates that by 2040, strategic and less price-sensitive sectors such as artificial intelligence infrastructure, defense, power grids, and clean energy systems are expected to account for nearly 45% of total copper demand, up from 32% in 2024. The copper market has experienced volatility this year due to potential tariffs, leading to hoarding by US investors and excess inventory. Since the beginning of the year, total inventories on major global exchanges have increased by more than 500,000 tons.
In March 2026, Ben Pirie of Atrium Research discussed VR Resources' prospects, noting that the company is advancing toward a catalyst-rich 2026 plan, including follow-up drilling at the New Boston and Bonita multi-metal porphyry systems in Nevada. The planned work program aims to test high-confidence geophysical anomalies and validate large-scale mineral system models, with multiple discovery opportunities in jurisdictions with a global mining history and heritage.
On May 15, 2026, technical analyst Stewart Thomson rated the stock a "speculative buy" with a short-term technical price target of C$0.75, a medium-term target of C$2.30, and a long-term target of C$3.40. Thomson noted that the stock's balanced volume has surged to multi-year highs, while the Chaikin Money Flow indicator shows a bullish divergence from price, also at multi-year highs.
In 2026, the company listed multiple catalysts. At New Boston, further planned drill holes will target sheeted porphyry dikes and sheeted and stockwork veins in the host Triassic limestone, and test for a potentially deeper unconformity porphyry stock. The company plans to use results from the current hole as a guide to prioritize follow-up drilling among a series of approved drill sites on its current NOI drilling permit. The company recently completed an advanced 3D array DCIP geophysical survey at the Bonita copper-gold project in Nevada, yielding robust data: the 3D resistivity model contains approximately 187,000 data points, and the IP model contains approximately 135,500 data points. The survey aimed to provide precise exploration vectors for porphyry-style copper sulfide veins encountered during the initial reconnaissance drilling at Copper Queen in 2017. VR received a letter from the TSXV on April 23, 2026, conditionally accepting its proposed transfer transaction for the Ontario Empire copper-nickel-platinum group metals strategy, and upon completion, will hold 9.9% of the issued and outstanding shares of the Resulting Issuer. Exploration milestones include ongoing airborne geophysical surveys and a planned first phase of drilling in late summer or fall.
VR Resources Ltd. has a market capitalization of C$3.78 million, with 39.79 million shares outstanding. The stock's 52-week range is C$0.10 to C$0.45. Currently, the company reports that management and insiders hold approximately 1% of shares combined, institutions hold approximately 25%, and the remaining 74% is held by retail investors.
