VR Resources Hits 317 m of 0.77% CuEq at Nevada Project

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1. Disclosure for the quote from the Stewart Thomson article published on May 15, 2026

1. For the quoted article (published on May 15, 2026, VR Resources Ltd. has paid Street Smart, an affiliate of Streetwise Reports, US$3,500.
2. Author Certification and Compensation: Stewart Thomson was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Thomson is a retired Canadian financial advisor who has passed the Canadian Securities Course as well as additional technical analysis courses that were mandated by his former employer and approved by Ontario regulatory bodies. For the past 15 years, he has been editing and writing numerous financial newsletters that have a strong focus on charts.  The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.

2. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Key Takeaways

• VR Resources' New Boston drill hole in Nevada, NB26-003, hit 317 m (meters) grading 0.77% CuEq right from surface, with another 419 m at 0.48% CuEq beginning at 460 m depth. Key metals are moly, copper, tungsten, silver and zinc.
• One two-meter skarn zone mid-way down the hole (535 m) assayed an exceptionally high 33.4% CuEq, with up to 2.9% tungsten, 0.6% copper and 830 g/t Ag.
• A previously unknown mineralized diorite porphyry intrusion was discovered at about 610 m depth, within a 31 m interval grading 0.98% CuEq.
• Continuous veining and sulfide mineralization extended through the 881 m hole. Veining occurs in all rock types.  There is no unaltered core in the drill hole. 
• The results point to a kilometer-scale mineralized system at depth, echoing the 2.1 km strike length already mapped on surface.

VR Resources Intersects Long Copper Zone at New Boston

VR Resources Ltd. (VRR:TSXV; VRRCF:OTCQB; 5VR:FWB) is a Vancouver-based junior exploration company focused on copper (Cu), gold (Au), and other critical minerals. The company evaluates and advances grassroots exploration targets, with the objective of identifying early-stage discoveries and capturing value during the exploration and mining process.

On August 26, 2026, the company released assay results from its 881 m drill hole NB26-003 at the New Boston polymetallic porphyry-skarn project in Nevada. The hole intersected continuous stockwork veining and sulfide mineralization, including 0.77% copper equivalent (CuEq) over 317 m from surface and 0.48% CuEq over 419 m beginning at 460 m depth.

The upper portion of the hole was characterized by molybdenum (Mo), copper (Cu), and tungsten (WO₃) mineralization, while copper-molybdenum mineralization became more prominent at depth. The deeper interval included a newly discovered mineralized diorite porphyry intrusion and associated marble breccia skarn. A 31 m section returned 0.98% CuEq, with VR noting that the intrusion had not previously been identified at surface or in historical maps and data. 

The drill hole also encountered high-grade tungsten, copper, and silver (Ag) mineralization in garnet marble skarn. At 535 m depth, a 2 m interval graded 33.4% CuEq, including 1.48% WO3, 0.32% Cu, and 427 g/t Ag. A separate 1 m sample from the zone returned 2.85% WO3, 0.62% Cu, and 830 g/t Ag.

Mineralization continued to the bottom of the 881 m drill hole and intersection, with a 7 m interval at 858 m grading 0.35% CuEq and associated with sulfide-bearing granite porphyry. NB26-003 was stopped at 881 m due to unstable ground conditions, leaving the mineralized system open at depth.

The hole cut no less than 21 variably mineralized porphyry intrusions starting at 2.7 m depth and continuing through 868 m depth. VR also sees potential for the near-surface mineralization to extend laterally, with the 317 m interval of 0.77% CuEq associated with quartz-garnet stockwork veining that continues approximately 750 m along strike to the east.

New Boston is not alone. There is current exploration on tungsten systems of similar geologic age and setting nearby to the southeast at Pilot Mountain, and in southwest Idaho in the Thompson Creek camp. New Boston stands out for its polymetallic composition, with critical metals in moly, copper, silver, and zinc in addition to tungsten, all of which are on the strategic metals list in Washington.

Copper Demand Gains from Electrification and AI Infrastructure

Copper demand is likely to continue increasing as its use in electronics expands, particularly amid the rapid development of data centers and growing U.S. defense requirements. According to a report from Businessworld, "global copper demand is gradually shifting towards strategic and less price-sensitive sectors such as AI infrastructure, defense, power grids, and clean energy systems. By 2040, these categories are expected to account for nearly 45% of total copper demand, up from 32% in 2024."

Copper prices in the United States also experienced a sharp increase last year as the prospect of tariffs under President Donald Trump encouraged American investors to build up inventories. The resulting buying activity contributed to an oversupply of copper and increased the divergence between futures prices and the value of physical metal. "Collectively, inventories at the world's main exchanges have risen by more than 500,000 tons since the start of the year," stated a March 6, 2026, article by Bloomberg News. Trump's July 30, 2025, proclamation established a 50% Section 232 tariff on the copper input value of semi-finished copper and copper-intensive derivative products beginning August 1, 2025. Beginning April 6, 2026, the 50% tariff was extended to the full value of certain semi-finished copper products, while certain copper-intensive derivative products were subject to a 25% tariff. The proclamation also outlined a potential phased universal duty on refined copper, starting at 15% on January 1, 2027, and increasing to 30% in 2028, pending a presidential determination following the Commerce Department's June 30, 2026, report. As of August 2026, refined copper remains exempt.

Broader conditions across the metals sector have also improved. On May 7, 2026, Brian Taylor of Recycling Today reported that the World Bank Group expects global metals and minerals prices to increase 17% in 2026. That forecast forms part of a projected 16% increase across commodities overall, which would represent the first annual rise since 2022.

VR is also focused on tungsten exploration. Tungsten is a niche metal market, but its performance has rivaled larger markets. "Project Blue estimates its value at about US$16 billion this year — roughly 5% of the copper market at current prices. It is also far more opaque and illiquid, as it does not trade on major exchanges. Even so, its gains over the past year have far outpaced those of commodities such as gold and oil," according to an article by Mining.com.

Beginning January 1, 2027, bans on foreign tungsten sourcing will take effect, led by an executive order (Project Blue) by President Trump. On July 20, 2026, Robert Sinn of Goldfinger argued that this news "creates a powerful re-rating opportunity for U.S. deposits containing tungsten, tantalum, molybdenum, and rare-earth magnet materials." Sinn wrote: "Defense contractors will increasingly need to prove that tungsten was not mined, processed, or transformed through prohibited supply chains. A qualified U.S. tungsten mine connected to domestic concentration, refining, and powder production could become much more valuable than an equivalent deposit lacking downstream infrastructure." 

China, Russia, and North Korea produce roughly 90% of the world's tungsten, which has left the U.S. scrambling to secure solid domestic supply sources since President Trump's tariffs sparked tension between the nations.

Analysts Point to New Boston and Bonita as Key Catalysts

In March 2026, Ben Pirie of Atrium Research discussed VR Resources' outlook, writing, "VR is advancing toward a catalyst-rich 2026 program, including follow-up drilling at New Boston and Bonita polymetallic porphyry systems in Nevada. Planned work programs are designed to test high-conviction geophysical anomalies and validate large-scale mineral system models, with multiple opportunities for discovery across jurisdictions with a history and pedigree in the global mining sector." 

¹On May 15, 2026, technical analyst Stewart Thomson rated the stock as a "Speculative Buy", with a short-term technical price target of CA$0.75, a medium-term price target of CA$2.30, and a long-term price target of CA$3.40. Thomson wrote: "The On Balance Volume [of the stock] has surged to a multi-year high, and The Chaikin Money Flows indicator is bullishly diverging with the price and is also at multi-year highs."

Follow-Up Drilling Could Further Test New Boston System

In 2026, the company lists multiple catalysts, including:

• VR plans follow-up drilling at New Boston this fall, using the new and strong results from hole NB26-003 as a guide.  It also intends to re-assay pulps from 2024 drill hole NB24-002 using sodium peroxide fusion to determine polymetallic grades for Cu, Ag, Mo, WO3, and zinc (Zn).
• In February, the company announced the successful farm-out of its Empire-Silverback Cu-Ni-PGM exploration strategy and land position in northwestern Ontario to Athos Metals, a private company. VR received conditional acceptance of the proposed transaction from the TSXV in April. On July 13, 2026, VR provided an update on the progress on all major milestones for the proposed transaction, which is expected to close at the end of the summer. VR's 9.9% position in the resulting issuer preserves the upside potential of the critical metals exploration planned for this fall, in continuation of VR's pioneering work in the district over the past two years to establish the exploration model and targets. 

Ownership & Share Information²

VR Resources Ltd. has a market cap of CA$4 million, with 39.79 million shares outstanding. The company's 52-week range is CA$0.09-CA$0.45. Currently, the company reports approximately 1% of shares are owned by Management and Insiders post-consolidation, while around 25% are held by Institutions. The remaining 74% are held by Retail. Ownership details will be subject to change in light of recent share consolidation.

Frequently Asked Questions

Q: What is a polymetallic deposit?
A: A polymetallic deposit contains economically significant amounts of more than one metal, such as copper, silver, molybdenum, tungsten or zinc.

Q: What is a porphyry deposit?
A: A porphyry deposit is a large mineral system in which valuable metals are dispersed through or around an intrusive igneous rock. Porphyry deposits are important sources of copper and molybdenum.

Q: What is a skarn deposit?
A: A skarn deposit forms when hot, mineral-rich fluids from an intrusion react with surrounding carbonate rocks. Skarns can contain copper, gold, silver, tungsten and other metals.

Q: What is copper equivalent (CuEq)?
A: Copper equivalent (CuEq) is a calculated grade that combines the estimated value of multiple metals into an equivalent copper grade. It is commonly used to summarize results from polymetallic deposits.

Q: What is molybdenum?
A: Molybdenum is a metallic element commonly used to strengthen steel and other alloys. It is also an important byproduct or co-product of some copper porphyry deposits.

Q: What is tungsten?
A: Tungsten is a high-density metal with a very high melting point. It is used in applications including hard metals, specialized alloys and industrial equipment.

Q: What is stockwork mineralization?
A: Stockwork mineralization consists of a network of numerous small veins or veinlets containing minerals of interest. Stockworks are common in porphyry-style mineral systems.

Q: What is sulfide mineralization?
A: Sulfide mineralization occurs when metals are present in minerals containing sulfur. Copper, zinc, lead and molybdenum can occur in sulfide minerals within mineralized rock.

Q: What is a drill intercept?
A: A drill intercept is a length of mineralized rock encountered by a drill hole. It is typically reported as a length in meters along with the grade of one or more metals.

Q: What does 'open at depth' mean in mining?
A: When mineralization is described as “open at depth,” it means drilling has not yet established the bottom of the mineralized system. Additional drilling is required to determine how far the mineralization continues underground.

Q: What is a mineral resource estimate (MRE)?
A: A mineral resource estimate is an evaluation of the quantity and grade of potentially economic mineralization within a defined deposit. It is prepared using geological and technical data under established reporting standards.