VMS Ventures Inc.

VMS Ventures Inc.

May 27, 2009 15:06 ET

VMS Ventures Inc.: Sails Lake 2009 Exploration Plans

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 27, 2009) - VMS Ventures Inc. (TSX VENTURE:VMS) (the "Company") is pleased to announce 2009 exploration plans for its Sails Lake Project.

The Sails Lake claim block is situated approximately 20 km east of the town of Snow Lake, Manitoba. The project comprises 8 claims with a total area of 1,888 hectares. The property is underlain by similar geology to what is found at the nearby Snow Lake camp, the site of numerous past, and currently producing, deposits, as well as the recent major Lalor base metals and gold discovery of HudBay Minerals.

In early 2007, believing the Sails Lake area had significant undiscovered potential, VMS Ventures contracted Geotech Ltd. to undertake a state-of-the-art VTEM EM and magnetic survey over the property. The VTEM system combines an excellent depth of investigation with a superior spatial resolution, thus providing the means to effectively define potential new deposits with a degree of certainty not possible from historic surveys.

Since then, the Company has undertaken geological mapping on a part of the property in the vicinity of an historic trench which exposes sulphide-bearing rocks containing trace amounts of Cu and Zn. This zone coincides with a strong continuous VTEM anomaly that extends away from the trench for approximately 2 km in an easterly direction. An historic drillhole, near the centre of this large VTEM anomaly, intersected 7.2% Zn over a 60 cm core interval.

Geochemical surveys conducted in 2007 and 2008 revealed anomalous metal values in Cu, Zn and Au along a portion of this VTEM trend. Condor Consulting Inc. of Lakewood, Colorado, is completing detailed modeling of the VTEM data in the area and this work is showing that the trend is comprised of a number of steeply dipping, strongly conductive features that are coincident with the geochemical anomalies.

The Company has designated this geophysical-geochemical feature as its first 'Exploration Object' on the Sails Lake property. It is now designated the Schooner Target. A helicopter-supported drill program to test the Schooner Target is planned after the summer ground exploration season is complete. To view an image, please follow the link http://www.vmsventures.com/image_pages/image028.asp.

Elsewhere on the Sails Lake property, there are a number of other prospective VTEM features. Some of these have been examined during a reconnaissance geochemical program in 2008 and the remainder will be assessed this year in the 2009 geochemistry programs slated to begin in June. Areas with anomalous geochemical signatures identified during the 2008 survey will be surveyed in detail with MMI-M geochemical methodology.

In addition, detailed geological mapping will be undertaken over as many targets as possible in July and August, as a part of the 2009 mapping program. The Company expects the geochemical surveys and the geological mapping to upgrade a number of other targets to Exploration Object status, which will add potential drill targets for the autumn drill program.

The Company also wishes to announce that it has entered into an amendment agreement with Strider Resources Limited to amend the Lynn Gabbros property option agreement dated May 28, 2004. The parties have agreed to extend the term for completion of the final $300,000 in expenditures due on the property from May 30, 2009 to May 30, 2011. In consideration, the Company has agreed to issue to Strider 100,000 common shares in the capital of the Company at a price of $0.28 per share.

All technical information in this release has been reviewed by Dr. George Gale, P.Eng, who is the Qualified Person for the Company and Vice President of Exploration, 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 Lynn Lake Gabbros nickel-copper project, the Nickel Belt project, the South Bay nickel-copper-cobalt PGE property, and the Eden Lake Carbonatite Complex, Specialty Metals property. All VMS Ventures Inc. properties are located in the mining friendly province of Manitoba, Canada.


John Roozendaal B.Sc., President & Director

The TSX Venture exchange does not accept 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
    Coal Harbor Communications
    Dale Paruk
    (604) 662-4505 or Toll Free: 1-877-345-3399