VMS Ventures Inc.
TSX VENTURE : VMS

VMS Ventures Inc.

March 22, 2011 06:30 ET

VMS Updates Progress With Ongoing Exploration Programs on Its 100% Owned Flin Flon-Snow Lake Greenstone Belt Properties, Manitoba

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 22, 2011) - VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS") is pleased to update its shareholders on the Company's ongoing exploration programs at its extensive 100% held property package in the Flin Flon – Snow Lake Greenstone Belt, Manitoba, Canada.

VMS EXPLORATION PROPERTIES

Copper Project

Drill testing of target anomalies scheduled for initial drilling in winter 2011 is now complete. A total of 2,560 metres were drilled in 7 holes on the Company's Copper project located approximately 30 km south of the mining community of Snow Lake, Manitoba. Drill core samples have been sent for base and precious metal assays with results expected in a few weeks.

Cowan River

The drill is now on the Cowan River project located 45 kilometres southeast of the town of Snow Lake and 8 kilometres east of Reed Lake JV/Option Property currently being explored by partner HudBay Minerals Inc. (TSX:HBM)(NYSE:HBM). VMS Ventures plans to drill three targets on this MEL based primarily on VTEM airborne geophysical anomalies with positive conductivity and associated magnetic signatures typical of all the base metal mines in the Snow Lake Greenstone Belt.

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 the southern claim blocks. Upon review of the anomalies, a Mobile Metal Ion soil geochemistry survey will be completed and integrated into the drill targeting process.

Farwell

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 exploration strategy after Troymet's drilling is completed and announced.

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.

A follow-up program of line-cutting and Induced Polarization (IP) geophysical surveys is now underway. Follow-up diamond drilling is proposed upon completion of the IP survey. Detailed geological mapping, prospecting for additional outcropping mineralization and Mobile Metal Ion geochemical soil sampling are planned for the spring/summer.

In 2011 approximately 12,000 metres of diamond drilling is planned for new base metal and gold targets throughout the Snow Lake property package.

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.

ON BEHALF OF THE BOARD OF DIRECTORS

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
    www.vmsventures.com
    or
    Launch IR
    Matt Harrington or Dean Hanisch
    (613) 882-7467