VMS Ventures Inc.
TSX VENTURE : VMS

VMS Ventures Inc.

June 08, 2007 12:37 ET

VMS Ventures Reports Drill Results of Nickel Targets on the Carr Lake Gabbro Plug and Preliminary VTEM Results on Its Lynn Lake Gabbros Project in Manitoba, Canada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 8, 2007) - VMS Ventures Inc. (TSX VENTURE:VMS) (the "Company") has received assay results from core samples taken from the recent diamond drilling on the Carr Lake Gabbro Plug in the Company's Lynn Lake Nickel Project in Manitoba, Canada. Preliminary results have also been received from the VTEM airborne survey, which was flown concurrently over the entire property package, and consists of 4 major claim groups covering approximately 38 km2 in the Lynn Lake nickel belt.

The drilling has confirmed the presence of mafic-ultramafic rocks similar to those hosting nickel-copper mineralization at the nearby Lynn Lake Ni-Cu Mines, as well as sulphide mineralization with significant nickel and copper enrichment.

The preliminary results of the VTEM survey indicate a number of anomalies, including several of particular interest on the Frazer Lake intrusion, which is located immediately south of the EL Ni-Cu Mine. Final interpretation of the airborne survey data is pending and expected within the next 30 days.

Three holes were completed on the Carr Lake Gabbro Plug for a total of 624.7 meters of drilling.

A 0.38 m sample (#15013) from the 263.3 m interval in drill hole Gab-07-01, assayed 287 ppm Ni and 251 ppm copper. This sample contained only 0.54% sulfur and the drill log reports trace to 1% fine disseminated sulfide in a pyroxenitic gabbro. When these assay results are recalculated to represent nickel and copper grades on a 100% massive sulfide basis, it indicates that the sulphide minerals are significantly enriched in both nickel and copper. This is encouraging because base metal enrichment of sulfides commonly indicates that a mineralizing system may be present on the property.

Gab-07-03 also returned an interval with significant nickel and copper enrichment in sulphides. Sample #15014, taken from drill hole Gab-07-03 at a depth of 21.7 m over an interval of 0.3 m, assayed 102 ppm nickel and 709.3 ppm copper from an interval reporting only 0.18% sulfur; the rock is described in the drill log as an altered pyroxenitic to plagioclase gabbro with trace sulfide. All samples were shipped to TSL Laboratories in Saskatoon, Saskatchewan and were assayed using the ICP-OES. (Inductively Coupled Plasma Optical Emission Spectrometry).

George H Gale, Ph.D, P.Eng, Vice President of Exploration, states "The first drilling on the Carr Lake Gabbro Plug has confirmed that mafic-ultramafic rocks are present and there is an enrichment of base metals in the sulphides. Elevated nickel in disseminated sulphide can be a pathfinder to more massive sulphide deposits in the same intrusion. The samples have been submitted for PGE analyses and these should be available within the next 2 weeks. The preliminary VTEM results are also very encouraging and indicate the presence of a number of conductors to be investigated for nickel deposits."

Lynn Lake Nickel Camp:

The Lynn Lake Nickel Mining Camp is historically the third largest nickel producing camp in Canada. Sherritt Gordon Mines Ltd. mined the Lynn Lake nickel-copper deposits from 1953-1976. The mined deposits were discovered in two mafic-ultramafic intrusive bodies, known as the "Main" and the "El" gabbro plugs. The Main and El gabbro plugs produced over 20,000,000 tonnes of ore at an average grade of 1.023% Ni and 0.535% Cu from three mines over a 24 year period.

VMS Ventures' claims cover 5 of the 7 known Lynn Lake gabbro plugs in the camp. The two gabbro plugs not held by the Company, the "A" and the "El" are being explored by Independent Nickel Corporation (INI.V) and Western Areas NL (WSA.T) respectively.

Lynn Lake is located in Northern Manitoba, 320 kilometres by road from the nickel smelter at Thompson, and has significant infrastructure including an airport, all weather road access, hydroelectricity and a rail line.

VMS Ventures Land Position in Lynn Lake:

The Company's claims comprise 4 separate claim groupings, the Ralph Lake, Frazer Lake, Carr Lake and Norrie Lake claims, covering a total area of 38.83 square kilometers, giving it the largest land position over the Lynn Lake gabbro bodies in the camp. The northern boundary of the Frazer Lake claim group comes within 200m of the claim which covers the "EL" plug that produced approximately 1.0 million tons ore grading 3.3 per cent nickel, 1.1 per cent copper to a depth of 270 metres. The Company holds the option to earn a 100% interest in the claims subject to an NSR.

All technical information in this release has been reviewed by Dr. George Gale, P.Eng, Vice President of Exploration, VMS Ventures Inc.

VMS Ventures Inc. is focused on acquiring, exploring and developing copper-zinc properties in the Flin Flon-Snow Lake VMS Belt. The Company also holds the largest package of land considered prospective for nickel-copper mineralization at Lynn Lake, which, historically, is 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 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. Manitoba was recently rated by the Fraser Institute as the best location in the world for mine development.

ON BEHALF OF THE BOARD OF DIRECTORS

John Roozendaal B.Sc, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • VMS Ventures Inc.
    John Roozendaal B.Sc
    President
    (604) 986-2020 or Toll free: 1-866-816-0118
    (604) 986-2021 (FAX)
    Website: www.vmsventures.com