VMS Ventures Inc.
TSX VENTURE : VMS

VMS Ventures Inc.

April 13, 2011 06:30 ET

VMS Ventures Discovers High Grade Copper Zone Near Surface: 9.81% Copper Over 1.37m Within 6.59m of 2.25% Copper in Hole RE-11-001 at Its 100% Owned Cowan River Property, Snow Lake, Manitoba

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 13, 2011) - VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS") is pleased to announce initial drill results for base metal targets on its Cowan River project near Snow Lake. The Cowan River property is located 7.5 km east of the Company's Reed Lake copper-zinc deposit and 8.1 km west of the past-producing Spruce Point deposit and 1.5 km south of provincial road 39 (to view a map, please click here: http://www.vmsventures.com/Theme/VMS/files/VMS_Manitoba_V3.pdf).

Neil Richardson, VMS' Chief Operating Officer states: "This new discovery on our 100% owned project is very exciting as Cowan River is close to our Reed Lake deposit and the former Spruce Point mine and occurs within the same belt of volcanic rocks that hosts numerous VMS-type deposits, including the past-producing Dickstone copper-zinc mine. The strongly chloritic style of alteration of the Cowan River host basalt and the high-grade copper mineralization closely resemble the Reed Lake deposit. Koop Geotechnical has completed a borehole pulse electromagnetic survey and assay data from outstanding core samples will be available shortly. Additional exploration is warranted on this discovery."

At Cowan River, airborne geophysical targets (VTEM) were tested by five drill holes totaling 1,500 metres. Hole RE-11-001 intersected 6.59 metres of 2.25% copper and 0.61% zinc including 1.37 metres of 9.81% copper and 1.46% zinc in near solid and disseminated sulphide within chloritized basalt. The intersection occurred approximately 75 metres vertically from surface.

Pervasive chloritization of the footwall basalt and the style of copper-rich mineralization are similar to the Reed Lake deposit and is typical of alteration associated with volcanogenic massive sulphide-type deposits. Assays are pending for samples from holes RE-11-002 to -005, inclusive. Holes RE-11-002 and -003 tested VTEM targets northeast of the copper-rich mineralization in DDH RE-11-001. Holes RE-11-004 and -005 were drilled to follow-up results in DDH RE-11-001.

Assay Data:

Hole NumberFrom (m)To (m)Length (m)Cu %Zn %Au (g/t)Ag (g/t)Zone
RE-11-001101.78108.376.592.250.610.284.72Cowan River
RE-11-001102.24103.611.379.811.461.0519.48Including
RE-11-002 to -005Assays Pending
*True widths unknown*

Collar Information:

Hole NumberUTM East (1)UTM North (1)UTM Elevation (1)Azimuth (2)DipLength (metres)
RE-11-001401655.006047750.00283.00270.00-50.00239.00
RE-11-002403980.006048350.00287.00290.00-50.00287.00
RE-11-003402545.006048687.00295.0090.00-50.00379.00
RE-11-004401650.006047788.00283.00235.00-62.00281.00
RE-11-005401650.006047788.00283.00215.00-67.00314.00
(1) Universal Transverse Mercator / North American Datum 1983 / Zone 14
(2) "Azimuth" is degrees from True North

The original drill targeting for this discovery was Geotech Ltd. Versatile Time-Domain Electromagnetic survey (VTEM) with interpretation completed by Condor Consulting Ltd. of Denver, Colorado. This data was then incorporated into ArcView (GIS) and Gemcom® and integrated with historical and geochemical data. Follow-up work consisted of borehole and surface pulse electromagnetic surveys, geochemical whole rock sampling of diamond drill core and 3D geological modeling. Additional drilling is being planned on this target for Q2 or Q3, 2011 pending ground conditions.

Qualified Person

All technical information in this release has been reviewed by Dr. Mark Fedikow, P.Geo, who is the Qualified Person for the Company and Vice President of Exploration and Technical Services, VMS Ventures Inc.

Quality Assurance and Quality Control

Exploration core drilling was NQ size. The core was logged and mineralized intersections were marked for sampling and assaying by geologists and geotechnicians employed by VMS Ventures Inc. The marked intersections or intervals were sawn in half by a diamond saw and one half of the core was placed in plastic bags and tagged with unique sample numbers, while the second half was returned to the core box and stored. Chemical analyses reported in this press release were performed by TSL Laboratories in Saskatoon. Base metals were analyzed through atomic absorption spectrometry after a multi-acid digestion whereas gold was analyzed by fire assay Atomic Absorption using a 30g charge, with gravimetric finish for assays greater than 3 g/t. Sampling and analytical procedures are subject to a comprehensive Quality Assurance and Quality Control program that includes duplicate samples, blanks a and analytical standards.

The Company's Reed Lake deposit (NI 43-101 compliant Indicated Mineral Resource of 2.6MT of 4.52% copper – in press release dated April 1, 2011, see table below) is currently being developed by VMS Ventures joint venture partner HudBay Minerals Inc. (TSX:HBM)(NYSE:HBM), VMS is a 30% owner and is carried to production.

Reed Lake NI 43-101 Mineral Resource – April 01, 2011

Mineral ResourceContained Metal
CategoryTonnesAu
(g/t)
Ag
(g/t)
Cu
(%)
Zn
(%)
Au
oz
Ag
oz
Cu
lbs
Zn
lbs
Indicated2,550,0000.647.864.520.915246964438225357200051051000
Inferred170,0000.384.554.260.52207724868159324001944800

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.

Forward Looking Statement

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. VMS Ventures Inc. undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.

ON BEHALF OF THE BOARD OF DIRECTORS

John Roozendaal, President

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

    Launch IR
    Matt Harrington or Dean Hanisch
    (613) 882-7467