VMS Ventures Inc.

VMS Ventures Inc.

February 26, 2010 11:55 ET

VMS Reports Results for Its Phase 1 Drill Program at the Tower Zone, Part of the Reed Lake Project, Near Snow Lake, Manitoba

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 26, 2010) - VMS Ventures Inc. (TSX VENTURE:VMS) (the "Company") is pleased to report the results for the 4 holes drilled in phase one of the drill program at its 100% owned Tower Zone. The second phase of drilling is now underway. The Tower Zone property is part of the Reed Lake project, in the Snow Lake – Flin Flon greenstone belt of Manitoba.

Assay data from the Phase 1 Tower Zone diamond drill program has been received and now integrated into the new and evolving geological model. The results demonstrate strongly anomalous base and precious metal mineralization occurs at a consistent and well-defined stratigraphic interval. The contact between variably altered, but primarily sericitized and sulphidized aphyric and quartz-phyric rhyolite and chloritized mafic volcanic rocks, is the preferred locus for the observed mineralization. Laminated to brecciated and fine to medium-grained disseminated to near solid pyrite-pyrrhotite-chalcopyrite-sphalerite-magnetite occur over core intervals of less than 1 m at, or adjacent to, this contact.

This geological setting is very similar to the re-interpreted stratigraphy at VMS Ventures Discovery Zone at Reed Lake, where high-grade copper mineralization occurs at a rhyolite-basalt contact. Intervals of up to 100.19 metres of 3.59% copper including 9.71 metres grading 17.79% copper (VMS news release October 1, 2008) have been intersected at the Reed Lake Discovery Zone. This stratigraphic interval has been identified as a key exploration target based on VTEM airborne and DEEPEM ground geophysical surveys and soil geochemistry and has been traced for a distance of approximately 4 km along strike. It is the current focus of exploration.

The presence of sulphide mineralization at a break in volcanism is a common theme for base metal massive sulphide type mineralization in the Flin Flon-Snow Lake mining camp and in major mining camps elsewhere.

Dr. Mark Fedikow, VP Exploration and Technical Services, states: "Though the mineralization intersected is sub-economic in grade, it is nonetheless enriched in copper, zinc, silver and gold as well as a number of pathfinder elements that are characteristically elevated in VMS type deposits of the Flin Flon-Snow Lake greenstone belt. The occurrence of base and precious metal enriched sulphide mineralization with accompanying hydrothermal alteration along this prospective stratigraphy is evidence of an active mineralizing system over 2 km from the Discovery Zone. The bulk of assays have now been received and additional targets have been developed along strike of this mineralization. These exploration targets will be drill tested in the upcoming weeks."

The assays for Phase one drilling were undertaken at Activation Laboratories in Ancaster Ontario, an ISO/IEC 17025 certified laboratory. Multi-element geochemical analyses were determined with a combination of ICP-MS and ICP-OES. Silicate whole rock analyses were done by fusion-ICP and Au ad Ag by fire assay with gravimetric finish.

All technical information in this release has been reviewed by Dr. Mark Fedikow, P.Geo, who is the Qualified Person for the Company and Vice President of Exploration and Technical Services, VMS Ventures Inc.

VMS Ventures Inc. currently has a profile on Corebox.net which is updated as soon as assay results are released. The link to visit our Corebox profile is: http://www.corebox.net/properties/reed_lake/.

Investors are invited to visit the VMS Ventures IR Hub at http://www.agoracom.com/IR/VMSVentures where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to VMS@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

VMS Ventures Inc. is focused primarily on acquiring, exploring and developing copper-zinc properties in the Flin Flon-Snow Lake VMS Belt. The Company also holds the largest land package considered prospective for nickel-copper mineralization at Lynn Lake, which is to date Canada's third largest nickel producing camp. The Company's project portfolio consists of the Snow Lake VMS project, the Nickel Belt project and the South Bay nickel-copper-cobalt PGE property. All VMS Ventures Inc. properties are located in the mining friendly province of Manitoba, Canada.


John Roozendaal B.Sc., President & Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • VMS Ventures Inc.
    Keith Patey
    Director of Communications
    (604) 986-2020 or Toll Free: 1-866-816-0118
    (604) 986-2021 (FAX)
    Coal Harbor Communications
    Dale Paruk
    (604) 662-4505 or Toll Free: 1-877-345-3399