VMS Ventures Inc.
TSX VENTURE : VMS

VMS Ventures Inc.

March 12, 2009 15:06 ET

VMS Identifies a Two km Long Geophysical Target At Reed Lake Project Near Snow Lake Manitoba

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 12, 2009) - VMS Ventures Inc. (TSX VENTURE:VMS) (the "Company") is pleased to report the identification of a significant geophysical anomaly at the Company's Reed Lake project. The anomaly extends from property held 100% by VMS Ventures Inc. onto the adjacent property optioned from Hudson Bay Exploration and Development Company Limited, a subsidiary of HudBay Minerals Inc. (TSX:HBM).

In February of this year, VMS commenced a ground-based electromagnetic survey of areas southwest of the Reed Lake Discovery Zone to determine if additional deep conductors exist along strike from the known mineralization. Early survey results suggested anomalies at the northern extent of the survey. A decision was then made to cover the area, beginning north of the deposit near the Highway Zone (copper-zinc mineralization discovered in 1974 by Freeport), and extending to the southeast through the Tower Zone, discovered by VMS in 2007.

The DeepEM survey has identified a major conductor in this area, north and east of the Reed Lake Discovery Zone. The anomaly is present over a distance of approximately 2.0 km and may extend the Tower Zone, to the Highway Zone, a further 600 metres. This new anomaly is interpreted to be between 200 and 400 metres below surface. It provides confirmation of the regional northwesterly geological trend deduced from drilling at the Reed Lake Discovery Zone. A plot of the DeepEM survey results, together with the underlying magnetic survey results, is available for viewing on the Company's website at http://vmsventures.com/image_pages/image027.asp.

Dr. George Gale, VP Exploration states: "This new Tower Zone conductive anomaly, is deep, strong and of considerable length. The association of high-contrast geochemical anomalies with this geophysical conductor and drill evidence of an alteration system which hosts copper and zinc sulphides is very encouraging. Graphite has not been intersected in the drilling at the Tower Zone, which might otherwise explain such a large conductor. The presence of known copper-zinc mineralization at the Highway Zone, more than two kilometres to the northwest at the opposite end of the conductor, leads us to believe this target has tremendous potential to host one or several mineralized bodies."

MINERALIZATION ORIENTATION

Originally, the Company believed the trend of mineralization, inferred from airborne anomalies, suggested the conductors were oriented in a northeast-southwest direction. Drilling and subsequent ground geophysical surveys have shown this not to be true and the 2009 DeepEM survey was oriented so as to cross the known trend of the mineralization.

In addition, a 2008 VMS drillhole at the Tower Zone intersected several metres of layered pyrite within cherty chemical sedimentary rocks prior to intersecting a major shear zone. Most of the drill holes in the Tower Zone area were oriented nearly parallel to this new northwest-trending DeepEM anomaly. The Company now believes this original orientation hypothesis resulted in the Tower Zone drill holes not intersecting the source of the conductors at depth.

GEOCHEMISTRY

The Tower Zone portion of the DeepEM survey is coincident with a strong Mobile Metal Ions ("MMI") soil geochemical zinc and cadmium anomaly. A significant correlation between these two elements is a prerequisite for documenting the presence of a geochemical signature emanating from a bedrock source of the sulphide mineral sphalerite rather than a source unrelated to a buried base metal deposit. These anomalies are in the immediate vicinity of Copper and Zinc-bearing VMS type alteration intersected by four VMS holes drilled in 2007 and 2008.

The MMI soil geochemical survey data indicates a separate strong Cu, Zn-Cd and Pb anomaly (the North Anomaly), that is almost parallel to the Tower Zone MMI anomalies, but north of the provincial highway, in an area that has not yet been surveyed with the DeepEM method. An earlier induced polarization ("IP") geophysical survey west of the North Anomaly indicates a strong IP anomaly that trends towards this MMI anomaly. Also, there are a number of strong VTEM airborne anomalies that appear to be related to this geochemical anomaly trend.

Dr. Mark Fedikow, VP Technical Services states: "It is encouraging to see correlations between the geophysical and geochemical data that has been collected over the past three years. Now that the drilling and the geophysical data are providing confirmation of the subsurface geological trends obscured by the overlying dolomite, it is possible to model the drill intercepts and geochemical information in the vicinity of the Tower Zone into a conceptual model that can guide future exploration in this part of the property."

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, 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.

ON BEHALF OF THE BOARD OF DIRECTORS

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
    (604) 986-2021 (FAX)
    Website: www.vmsventures.com
    or
    Coal Harbor Communications
    Dale Paruk
    (604) 662-4505 or Toll Free: 1-877-345-3399