VMS Ventures Inc.

VMS Ventures Inc.

February 26, 2009 06:30 ET

VMS Ventures Inc.: Puella Bay Project Drilling Begins

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 26, 2009) - VMS Ventures Inc. (TSX VENTURE:VMS) (the "Company") is pleased to announce that a drill program is now underway on its Puella Bay Project, located approximately 25 km southeast of Snow Lake, Manitoba.

The drill program will test four of the ten target areas identified to date on the Puella Bay Project. This program is designed to explore targets situated underwater or beneath swamp covered areas of the property, which are accessible only during the winter freeze up season.

The five hole, 1,000 metre drill program will test geophysical conductor targets of interest. It will provide important geological information, not obtainable by more conventional means, such as geological mapping and prospecting, due to overburden and water cover. Each of the targets being tested is considered prospective for the same kind of copper-zinc mineralization discovered at the Company's Reed Lake Project in 2007 and deposits elsewhere in the belt.

Three of the targets occur within a four km long string of highly conductive VTEM anomalies situated adjacent to an extensive zone of VMS-type alteration in the southern part of Puella Bay. Drill holes containing zinc and copper mineralization and alteration minerals in the vicinity of these targets were reported in 1988 government assessment files by Hudson Bay Exploration & Development (HBED). These results are helpful as they identify economic minerals of interest, such as chalcopyrite and sphalerite, and also provide evidence of alteration minerals associated with VMS deposits. The anomalies being targeted in this program were identified in the Company's 2008 VTEM airborne geophysical and field surveys using technology not available in 1988.

The other two targets are located on a one km long VTEM anomaly at the north end of the property, in an area that has not been drilled previously. This anomaly shows variations in magnetic susceptibility and conductivity and is centered over the axis of a regional anticline structure.

All of the Puella Bay Project targets identified to date are situated at the margin of, or within, a 1,200 m thick unit of felsic volcanic rocks. There is evidence of extensive hydrothermal activity in the felsic rocks, including chlorite and sericite alteration, together with minor amounts of chalcopyrite. This occurs over a distance of approximately three km in a north-south direction and approximately one km in an east-west direction. Previous drilling within the alteration zone intersected abundant sericitic alteration and over 5% Zn in quartz rich veinlets. In the past, explorers excavated a number of trenches in sulphide-bearing rocks with minor amounts of Cu and Zn. An extensive exhalite zone consisting of layered chert, earthy pyrite and magnetite, known from previous drilling, is present along the eastern edge of this alteration zone. The untested, highly conductive VTEM anomalies that will be targeted during this drill program are situated at the eastern edge of the alteration zone and immediately west of the exhalite unit.

The Company anticipates that drilling will be completed in mid March. The Company is also planning a ground geophysical survey which should be completed by the end of March. The remaining target areas will be examined by field geologists during the summer program.

All technical information in this release has been reviewed by Dr. George Gale, P.Eng, who is the Qualified Person for the Company and Vice President, VMS Ventures Inc.

VMS Ventures Inc. currently has a profile on Corebox.net which is updated as soon as assay results are released. The link to visit our Corebox profile is: http://www.corebox.net/properties/reed_lake/.

Investors are invited to visit the VMS Ventures IR Hub at http://www.agoracom.com/IR/VMSVentures where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to VMS@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

VMS Ventures Inc. is focused primarily on acquiring, exploring and developing copper-zinc properties in the Flin Flon-Snow Lake VMS Belt. The Company also holds the largest land package considered prospective for nickel-copper mineralization at Lynn Lake, which is to date Canada's third largest nickel producing camp. The Company's project portfolio consists of the Snow Lake VMS project, the Lynn Lake Gabbros nickel-copper project, the Nickel Belt project, the South Bay nickel-copper-cobalt PGE property, and the Eden Lake Carbonatite Complex, Specialty Metals property. All VMS Ventures Inc. properties are located in the mining friendly province of Manitoba, Canada.


John Roozendaal B.Sc., President & Director

The TSX Venture exchange does not accept 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
    (604) 986-2021 (FAX)
    Website: www.vmsventures.com
    Coal Harbor Communications
    Dale Paruk
    (604) 662-4505 or Toll Free: 1-877-345-3399