VMS Ventures Inc.
TSX VENTURE : VMS

VMS Ventures Inc.

February 14, 2012 06:30 ET

VMS Ventures Drills 8.90 Metres of 1.00 g/t Gold in Hole BC-11-002 and Mechanical Trenching Uncovers Base Metal Showing on its Black Creek Project Near Sudbury, Ontario

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 14, 2012) - VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS") is pleased to announce the results of a two-hole drill program and mechanical trenching on its 100%-owned Black Creek property. Two new zones of mineralization have been discovered.

Neil Richardson, VMS' Chief Operating Officer, states: "I am pleased with the results from our first phase of drilling and channel sampling on the Black Creek project. The VTEM anomaly tested by BC-11-002 has a strike length of 900 metres and is open at depth. The new base metal showing indicates the potential of a permeable breccia zone along the margin of the Cartier Batholith. Additional work is planned for 2012, including additional drilling, trenching and prospecting."

A total of 342 metres were drilled to test two separate Versatile Time-Domain Electromagnetic (VTEM) airborne geophysical anomalies with coincident magnetic highs. Hole BC-11-002 intersected 8.90 metres of 1.00 g/t Au, in a heterolithologic fragmental unit at the contact with an oxide to sulphide facies iron formation. Locally, the oxide facies iron formation is sulphidized and is mineralized with pyrite, pyrrhotite and minor chalcopyrite. A sulphide rich interval within the iron formation assayed 2.43% copper over 0.40 metres.

A new base metal showing was discovered in the central portion of the property by prospector John Brady. An excavator was utilized to remove overburden, followed by power washing of the outcrop, geological mapping and channel sampling. Highlights from the channel sample assays include 4.77% zinc, 1.17% copper, 23 g/t silver and 0.85% lead. This fracture-controlled mineralization is hosted by a gossanous andesitic unit within an intrusive marginal breccia zone of the Cartier Batholith, see figure #1 below.

To view Figure 1 associated with this news release, please click the following link: http://media3.marketwire.com/docs/VMSFig%201.pdf.

Black Creek Assay Data

Hole Number From (m) To (m) Length (m) Cu % Zn % Au (g/t) Ag (g/t) Zone
BC-11-001 No Significant Assays
BC-11-002 70.10 79.00 8.90 0.01 0.01 1.00 1.00 10
* True widths unknown

Black Creek Collar Information

Hole Number UTM
East (1)
UTM
North (1)
UTM
Elevation (1)
Azimuth (2) Dip Length
(metres)
BC-11-001 504774.00 5186200.00 357.00 280.00 -45.00 162.00
BC-11-002 503002.00 5186803.00 336.00 250.00 -50.00 180.00
(1) Universal Transverse Mercator/North American Datum 1983/Zone 17
(2) "Azimuth" is degrees from True North

The Black Creek property is located 20 km north of the town of Capreol, Ontario, and consists of 63 claim blocks covering an area of approximately 1,501 hectares. Two (2) diamond drill holes were completed for a total of 342 metres in this first phase of drilling. Additional follow-up work on this project is scheduled for summer 2012 with mechanical trenching, prospecting and drilling.

For additional details on exploration on our Black Creek property, see VMS' press releases issued between April 6, 2010 and October 26, 2011, available at www.vmsventures.com.

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 BQTK 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 ALS Chemex Laboratories in Vancouver, BC, where it was dried, crushed and pulverized and a 250-gram sample was prepared for assaying. From each 250 gram sample 0.50 grams was removed and leached in aqua regia and analyzed by ICP-AES for Ag, Cu, Zn, As, Pb, Ni and Fe. Gold was analyzed by fire assay using a 30g charge, with gravimetric finish. Sampling and analytical procedures are subject to a comprehensive Quality Assurance and Quality Control program that includes duplicate samples, blanks and analytical standards.

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 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.

VMS Ventures owns approximately 45% of North American Nickel Inc. (TSX VENTURE:NAN). For more information on North American Nickel Inc., please visit www.northamericannickel.com.

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.
    John Roozendaal
    President
    (604) 986-2020 or Toll Free: 1-866-816-0118

    VMS Ventures Inc.
    Evan Sleeman
    Director
    (604) 986-2020 or Toll Free: 1-866-816-0118
    www.vmsventures.com