VMS Ventures Inc.
TSX VENTURE : VMS

VMS Ventures Inc.

April 27, 2011 14:36 ET

VMS Ventures Discovers Massive Sulphide Horizon With Zinc-Silver-Gold Mineralization at Its Copper Project, Near Snow Lake, Manitoba

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 27, 2011) - VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS") is pleased to announce the discovery of zinc-gold-silver mineralization in drill holes CP-11-006 and CP-11-012 at its Copper project near Snow Lake. The Copper project is the one of the Company's largest continuous 100% owned land packages, covering an area of approximately 200 square kilometres (80 sq miles), and is located 30 km south of the Town of Snow Lake.

The drilling targeted anomalies located 3.5 km south of provincial road 39 in the northeast corner of the Copper project. The discovery was made testing Versatile Time-Domain Electromagnetic (VTEM) anomalies.

Neil Richardson, VMS' Chief Operating Officer states: "We are pleased with the results of this winters' drilling campaign at our Copper project. We have discovered a new volcanogenic massive sulphide horizon with intense alteration and highly anomalous zinc-gold-silver mineralization. Additional work is now being planned for this horizon. Drill testing of additional VTEM anomalies in this area will be conducted, as VMS deposits tend to occur in clusters along such horizons. The massive sulphide deposits of the Flin Flon – Snow Lake Belt are all located within volcanic rocks which have undergone intense hydrothermal alteration. This alteration is evidence of extensive fluid flow through the volcanic host rocks. The fluids which caused the alteration have carried base and precious metals, as evidenced by the enrichment of metals zinc, gold, silver and copper. This discovery warrants further exploration in this summer's upcoming program."

The discovery hole, CP-11-006, intersected 2.04m of 1.76% zinc in an altered mafic tuff. Hole CP-11-012 intersected highly altered basalts with disseminated sulphides from 169.52 – 194.50m, including a narrow solid sulphide intersection at 189.27 – 190.05m. BHPEM surveys indicate a large anomaly near the intersections that requires follow-up. Holes CP-11-007 to CP-11-011 tested additional VTEM anomalies elsewhere on the project area, see table below.

Assay Data:

Hole NumberFrom (m)To (m)Length (m)Cu %Zn %Au (g/t)Ag (g/t)Zone
CP-11-006226.11228.152.040.051.760.030.93CM-33
CP-11-007 to 011No Significant Assays
CP-11-012179.73183.503.770.050.540.060.72CM-33
CP-11-012189.27190.611.340.010.170.8512.07CM-33 Lower
*True widths unknown*

Collar Information:

Hole NumberUTM East (1)UTM North (1)UTM Elevation (1)Azimuth (2)DipLength (metres)
CP-11-006440300.006052830.00280.00300.00-55.00281.00
CP-11-007437910.006048760.00280.00300.00-55.00484.45
CP-11-008436330.006048150.00290.00140.00-60.00320.00
CP-11-009435250.006047200.00290.00300.00-65.00176.00
CP-11-010435250.006047200.00290.00300.00-65.00539.00
CP-11-011437840.006048630.00280.00300.00-55.00446.00
CP-11-012440200.006052770.00280.000.00-60.00315.00
(1) Universal Transverse Mercator / North American Datum 1983 / Zone 14
(2) "Azimuth" is degrees from True North

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 30 g assay ton, 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. (HBM: TSX, HBM : NYSE), 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 ozAg ozCu lbsZn 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
    (613) 882-7467

    Launch IR
    Dean Hanisch
    (613) 882-7467