VMS Ventures Inc.
TSX VENTURE : VMS

VMS Ventures Inc.

May 28, 2013 06:30 ET

VMS Ventures Inc.: North American Nickel Announces 2013 Field Work Plan for Its Maniitsoq Ni-Cu-PGE Project, Southwest Greenland; Targets Now Exceed 100

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 28, 2013) - VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS Ventures" or the "Company") is pleased to announce that North American Nickel Inc. (TSX VENTURE:NAN) ("North American Nickel" or "NAN"), issued a press release this morning detailing its plans for the 2013 field season at the Maniitsoq project in Southwest Greenland. VMS owns approximately 27.5% of NAN. The release is as follows:

"North American Nickel is pleased to announce that it has finalized the 2013 exploration plan for its 100% owned Maniitsoq project. The program, which is scheduled to commence in mid-June, will consist of a minimum of 3,000 meters of diamond drilling to follow-up on 2012 discoveries and test new geological, geophysical and geochemical targets identified from a review of exploration datasets. Surface pulse time domain electromagnetic (PEM) surveys and 550 line-km of helicopter time domain, electromagnetic and magnetic surveying will also be undertaken in areas not covered in 2011 and 2012.

NAN CEO, Rick Mark states: "We expect this to be a busy, exciting and productive year at Maniitsoq. Our experience on the project for the last two years and particularly our camp/drilling experience last year has allowed us to ramp up for our planned $5,500,000 2013 program smoothly and efficiently. Chief Geologist John Pattison has been full time on the project since we left Greenland last September. COO Neil Richardson will accompany our expanded ground team to Maniitsoq in early June with drilling expected to begin on, or around, June 21, 2013. Target identification has been very successful, as we now have identified more than 100 targets for consideration at Maniitsoq."

Key elements and objectives of the 2013 Maniitsoq program are as follows:

DIAMOND DRILLING

  • To explore along strike and down plunge of the high grade mineralized zones intersected by NAN in 2012 at Spotty Hill and Imiak Hill.(e.g. 123.94 m @ 0.81% Ni, 0.21% Cu, 0.03% Co and 0.26 g/t PGM including 24.20 m @ 1.75% Ni, 0.34% Cu, 0.06% Co and 0.52 g/t PGM at Spotty Hill and 26.98 m @ 0.98% Ni, 0.44% Cu and 0.04% Co including 16.64 m @1.36% Ni, 0.52% Cu and 0.05% Co at Imiak Hill). For example, the attached longitudinal section (Figure 1) shows the planned pierce points for three holes designed to test the interpreted down plunge extension of intersections in holes MQ-12-001 and -002 at Imiak Hill last year.

  • To test new, high priority conductors identified by helicopter-borne time domain electromagnetic surveys flown by NAN in 2011 and 2012. Priority will be given to high conductivity targets associated with mafic-ultramafic rocks such as target P-63 (see NAN press release dated March 20, 2013 for details).

  • Three-component bore hole electromagnetic (BHEM) surveys will be undertaken to increase the effective search radius of the hole. In cases where a hole has intersected conductive mineralization, the BHEM data can help determine its orientation. In cases where a hole fails to intersect a target conductor, the BHEM data can often provide more precise information on the direction to the conductor which allows the geologist to design a more accurate follow-up hole to intersect the target.

FIELD CHECKING OF POTENTIAL DRILL TARGETS

  • Over the winter NAN's exploration team combed through all available exploration data from the project area. As a result, the inventory of potential targets has increased to over one hundred (Figure 2). To date less than 40 of these have been checked in the field. This year a four person team will be dedicated to checking as many of the other targets as possible.

  • The field checking will consist of prospecting, rock sampling and in some cases channel sampling and/or geological mapping.

SURFACE PULSE TIME DOMAIN ELECTROMAGNETIC (PEM) SURVEYS

  • Focused PEM surveys will be done over selected targets where further detail is required. The PEM system may also be used to test geophysical and geological hypotheses prior to drilling.

HELICOPTER TIME DOMAIN ELECTROMAGNETIC AND MAGNETIC SURVEYS

  • The surveys will be flown over several small blocks that cover areas of geological interest outside the main Greenland Norite Belt and in areas recently acquired by North American Nickel.

The 2013 exploration program will be conducted from a field camp situated within the project area. The camp logistics will be supplied by Xploration Services Greenland ApS of Nuuk who will also provide general expediting and support to the project. Westcore Drilling Ltd of Salmo, British Columbia will perform the diamond drilling and Crone Geophysics & Exploration Ltd. of Mississauga, Ontario will conduct the BHEM and surface PEM surveys. All of these contractors are experts in their respective fields.

To view the maps associated with this release, please visit the following link: http://media3.marketwire.com/docs/528vms1.pdf.

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 President of North American Nickel 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 Copper Project, which is subject to a 70-30 JV with HudBay Minerals and, subject to receipt of required permits, is scheduled for production in Q4-2013, 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 two properties in the Sudbury mining camp. They are Terra Incognita and Black Creek.

VMS Ventures owns approximately 27.5% 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 the costs, plans and schedule to develop the Reed Copper Project, 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, B.Sc., 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.
    Evan Sleeman
    Director
    (604) 986-2020 or Toll Free: 1-866-816-0118
    www.vmsventures.com