VMS Ventures Inc.
TSX VENTURE : VMS

VMS Ventures Inc.

December 19, 2011 06:30 ET

VMS Ventures Inc.: New Geophysical Targets At, and Near, the Reed Copper Deposit Snow Lake, Manitoba

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 19, 2011) - VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS") and HudBay Minerals Inc. (TSX:HBM)(NYSE:HBM) ("HudBay") are pleased to announce that a comprehensive review of borehole and surface pulse electromagnetic data has identified strong, high priority anomalies surrounding the Reed Copper Deposit. The Reed Copper Deposit is located 120 kilometres from Flin Flon, Manitoba and is the subject of a Joint Venture with HudBay Minerals. VMS owns 30% of the Reed Joint Venture. The Joint Venture property is surrounded by four option agreements between VMS and HudBay where HudBay may earn a 70% interest in the properties.

A comprehensive review of geophysical data from all borehole surveys and one surface time-domain survey was initiated in early October 2011. The surface grid is located on the Reed North discovery which is located 1.8 kilometres northeast of the Reed Copper Deposit. The data was supplied by HudBay Minerals and was reviewed by Koop Geotechnical and Kevin Ralph of Crone Geophysics. A total of 63 holes were reviewed and targets ranked from Category "A" (highest conductance) to Category "C" (lowest conductance).

VMS Ventures COO, Neil Richardson, states: "We are very pleased with the delineation of several new borehole geophysical targets. On the Joint Venture ground the surveys indicate that the Reed Copper Deposit is open down plunge and that there are potential new zones located just north of the deposit. We believe these new targets have the potential to augment the current mineral resource at the Reed Copper Deposit. There are also two new targets near the Reed North discovery located on the Super Zone Option property."

Targets near the Reed Copper Deposit include the potential down plunge extension of zone 10, which is the richest copper lens in the deposit. This interpretation is based on results from holes RLD031, RLD031W1, RLD034 and RLD018 where the step response indicates the zone is open at depth. Also two potential targets are located just north of the deposit and are spatially associated with holes RD-08-45, RLD037 and RD-08-42DNP. It's recommended that holes RD-08-42DNP and RLD037 be surveyed with two different loop configurations to accurately determine the location of this anomaly. A time-domain electromagnetic target exists between the historical Highway Zone and the Reed Copper Deposit. This untested anomaly was defined by a surface survey carried out in 2008 and is located in an area of favorable geology.

These targets have been reviewed by the Joint Venture management committee and are scheduled for drilling beginning in January 2012.

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.

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

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
    www.vmsventures.com

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