VMS Ventures Inc.

VMS Ventures Inc.

September 09, 2011 15:11 ET

VMS Updates Progress on its 2011 Exploration Programs in the Flin Flon-Snow Lake Greenstone Belt, Manitoba

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 9, 2011) - VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS") is pleased to update its shareholders on the Company's ongoing exploration programs on its extensive land package in the Flin Flon-Snow Lake Greenstone Belt, Manitoba.



Option properties (Tower Zone, Super Zone, Northeast and Northwest)

The four optioned properties which surround the Reed JV claims agreements are part of the land package negotiated with HudBay Minerals (TSX:HBM)(NYSE:HBM) ("HudBay") to explore the prospective ground near the Reed Copper Project. HudBay may earn up to a 70% interest in the option properties.

Twenty-five (25) diamond drill holes have been completed to date targeting Versatile Time Domain Electromagnetic anomalies (VTEM), surface pulse electromagnetic anomalies and magnetic features on the option and joint venture properties. Most of the drilling has been focusing on a VTEM anomaly located approximately 2.0 kilometres northeast of the Reed Copper deposit which hosts an indicated resource of 2.6 million tonnes grading 4.52% copper, 0.91% zinc, 0.64 g/t gold, 7.86 g/t silver (NI 43-101, April 2011). Results from earlier drilling on the target 2 km north of the Reed Copper deposit, have returned 7.18 metres of 7.44% copper (May, 2011) and 2.23 metres of 5.94% copper (August, 2011) on this target. Drilling was suspended for two weeks in July for holidays and has now returned to full operation. Assays are pending, and are expected shortly (see Figure 1 – Superzone Discovery Area).

HudBay is continuing to drill VTEM anomalies on the option properties and conduct additional Time-Domain Electromagnetic ground surveys (TDEM) and borehole pulse electromagnetic surveys (BHPEM) for follow-up drilling programs.

Reed Lake – Joint Venture

On July 6, 2010, VMS announced a joint venture agreement with HudBay to develop the Reed Lake property and the two claims immediately to the south. VMS has a 30% carried interest and HudBay has a 70% interest and will act as the operator of the joint venture. The Reed Copper deposit is a base metal, polymetallic, massive sulphide-type deposit located approximately 100 kilometres by paved highway from HudBay's concentrator in Flin Flon, Manitoba. On April 1, 2011, VMS announced a NI 43-101 geological resource of 2.6 million tonnes grading 4.52% copper and 170 thousand tonnes grading 4.26% copper in the indicated and inferred categories, respectively. Metallurgical samples have been sent to G and T Metallurgical Services in Kamloops, BC with results expected in Q4 2011. Geotechnical drilling is complete and reports are forthcoming by Golder Associates, with results expected very shortly.

To view the image "Figure 1 – Superzone Discovery Area" associated with this press release, please visit the following link: http://media3.marketwire.com/docs/vms99.jpg


Cowan River

The Cowan River project is located 45 kilometres southwest of the Town of Snow Lake and 8 kilometres east of our Reed Copper deposit. VMS Ventures announced a copper discovery on April 13, 2011 in hole RE-11-001, grading 9.81% copper over 1.37 metres. To date, a total of 1,285 metres in five holes have been completed on this new discovery and additional 944 metres in three holes have been completed on additional VTEM targets in the area. Additional borehole pulse electromagnetic and surface time domain surveys are planned for later in the year.

Sails Lake

On January 11th, 2011, the Company announced a gold discovery at its Sails Lake project featuring an intercept of 56.89 metres (186.65 feet) grading 1.21 grams/tonne gold. The mineralized zone occurs within 40 metres of surface. The Sails Lake project is located 25 km east of the Town of Snow Lake.

A second phase of drilling was completed during the spring of 2011 and was announced on June 8, 2011. Highlights from this program included 38.79m of 0.68 g/t gold in hole SA11-013, 9.50m of 0.93 g/t gold in hole SA11-014 and 13.41m of 1.48 g/t gold in hole SA11-015.

A program of line-cutting and Induced Polarization (IP) geophysical surveys (Matrix GeoTechnologies Ltd.) is now complete. This data will be incorporated into our 3D modeling program for planning our next phase of exploration activity. A helicopter support stripping and geological mapping program was carried out during the month of July. Three areas were selected for stripping and channel sampling from the Induced Polarization results and historical grab samples with highly anomalous gold values. Channel samples are being sent to TSL Laboratories in Saskatoon for analysis.


A total of 4,665 metres were drilled in 12 holes on the Company's Copper project located approximately 30 km south of the mining community of Snow Lake, Manitoba. On April 27, 2011 the Company announced a new zinc discovery in hole CP-11-006, grading 1.76% zinc over 2.04m and follow-up hole CP-11-012 intersected anomalous zinc, gold and silver. The Company is now reviewing data and assessing additional VTEM targets in the vicinity of this discovery. Additional drilling is being planned for winter, 2012.

Morton Lake

The Morton Lake project is located 25 km west of Snow Lake and within 500 metres of the past-producing Dickstone copper-zinc deposit. A deep-penetrating, ground based Time Domain Electromagnetic geophysical survey was completed by Koop Geotechnical Inc. during the first quarter of 2011. The 54 line kilometre survey assessed a long portion of favourable stratigraphy that hosted the nearby Dickstone copper-zinc deposit. Geotech Ltd. completed 340 line kilometres "Versatile Time Domain Electromagnetic" (VTEM – plus) airborne survey over our recently acquired southern claim blocks. A total of 957 metres in 3 holes have been completed to date, assay results were disappointing, but favourable geology was intersected in the holes. New targets from the recently completed VTEM survey are being advanced to drill ready targets for a fall drilling program.


The Farwell project surrounds the McClarty Lake project of Troymet Exploration Corporation who announced a discovery on May 15, 2008 returning 1.47% zinc and 0.31% copper over 43.05 metres, including 3.46% zinc over 15.3 metres. Geotech Ltd. completed 3,581 line kilometres of (VTEM – plus) over the project in preparation of follow-up geochemical survey "Mobile Metal Ion" (MMI) and diamond drilling. VMS will determine its next exploration program over the next few months.

Ruttan and Fox

The Ruttan and Fox projects are located in the Lynn Lake – Leaf Rapids Greenstone Belt in northern Manitoba. This belt is part of the northern Trans-Hudson orogeny and hosts the past producing Ruttan mine (69.8 MT at 1.28% Cu and 1.40% Zn) and Fox mine (10.8 MT at 1.81% Cu and 1.77% Zn) historical geological resource, non NI 43-101 compliant. The company is currently compiling historical information and integration of a recent VTEM survey to augment our MMI soil survey which was completed in August and results will be forthcoming shortly. Exploration targeting and evaluation of the project is scheduled for Q4 of 2011.

About VMS Ventures Inc.

VMS Ventures Inc. is focused primarily on acquiring, exploring and developing copper-zinc-gold-silver massive sulphide deposits in the Flin Flon-Snow Lake VMS Belt of Manitoba. The Company's VMS project property portfolio consists of the Reed Lake Project, Copper Project, McClarty Lake Project, Sails Lake Project, Puella Bay Project and Morton Lake Project. Outside of the Snow Lake camp, the Company holds massive sulphide prospective properties near the past producing Fox Lake and Ruttan copper-zinc mines, near the communities of Lynn Lake and Leaf Rapids in northern Manitoba. These properties are located in the mining friendly province of Manitoba, Canada. The Company also has optioned three properties in the Sudbury mining camp. They are Terra Incognita, Golden Pine and Black Creek.


Rick Mark, CEO, VMS Ventures Inc.

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

    Launch IR
    Matt Harrington
    (613) 882-7467

    Launch IR
    Dean Hanisch
    (613) 882-7467