VMS Ventures Inc.
TSX VENTURE : VMS

VMS Ventures Inc.

April 07, 2009 06:30 ET

VMS Ventures Inc.: Puella Bay Project Drilling Completed; Significant Alteration Intersected; 25 Claims Added to Land Package; DeepEM Program Underway

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 7, 2009) - VMS Ventures Inc. (TSX VENTURE:VMS) (the "Company") is pleased to announce that its drill program at the Puella Bay Project, located approximately 25 km southeast of Snow Lake, Manitoba is completed. The purpose of the 1,202 m of diamond drilling was to test four geophysical targets and obtain geological information in areas of the property with poor outcrop exposure, which hinders comprehensive mapping and prospecting activity.

Holes 1 and 2 tested two geophysical conductors under the lake at the north end of the property. The holes intersected layered siltstones, argillite, graphitic argillite and a felsic rock of unknown affinity. The conductor appears to be related to the graphitic argillite, however, the targeted contact between the argillite and the altered felsic rocks, expected from the geological maps, was not intersected because of deeper than expected water and overburden.

Hole 3 was drilled to test a VTEM anomaly along strike from historical prospector trenches that contain the minerals sphalerite (zinc sulphide), chalcopyrite (copper sulphide) and galena (lead sulphide). The hole intersected approximately 300 m of altered and pyritized felsic volcanic rocks. The alteration mineral assemblage included pervasive sericite, biotite and pyrite; locally, there are minor amounts of sphalerite, chalcopyrite, galena and arsenopyrite in late veins that cross cut the early synvolcanic alteration. Though the alteration appears to be intensifying down hole, there is no definable target at this time and therefore the hole was abandoned in altered rocks. The geophysical survey program now underway will cover a large area around the drill hole and it is anticipated the results of this survey will help to define further targets in the area.

Hole 4 was located approximately 300 m east of hole 3 and also drilled towards the west. The hole was designed to test a geophysical anomaly and to intersect the contact between the unit of altered rocks intersected in hole 3 and the unaltered rocks containing the VTEM anomaly. The drill hole was collared into unaltered felsic volcanic rocks and the alteration gradually increased towards the bottom of the hole. No conductor was identified in the hole to explain the airborne geophysical anomaly, and so further evaluation of this area will await completion of the ground geophysical work now underway.

Dr. George Gale, VP of Exploration, states: "Drill holes 3 and 4 form an effective cross section from unaltered into increasingly altered rock. It is quite clear from these two holes, that there is a large, complex VMS type alteration zone on the Puella Bay property that is capable of having an associated VMS type deposit."

After completion of the drill program, Company geologists obtained geochemical analyses of samples of archived drill core from historical holes drilled a kilometre or more from holes 3 and 4. Assays of intervals of exhalite (chemical sediment rock) returned values as high as 1.4 g/t Au and 4.7 g/t Ag, as well as anomalous amounts of copper. The previous drill logs for this core did not report any Au or Ag values. Chemical sedimentary rocks, such as these, are commonly associated with the formation of copper-zinc-gold-silver massive sulphide deposits mined in the belt. The geological information obtained in drill holes 3 and 4 and the study of historical drill core from the area, are important elements in evaluating the stratigraphic position of the alteration zone relative to the precious metal-bearing distal exhalite layers.

The drill program is now being followed-up with a ground based geophysical survey covering approximately 40 line kilometres over an area roughly 1.3 km by 3.8 km, to test for deep conductors within, and at the margins of, this large alteration zone. This survey, in combination with the drill results and last year's geological mapping, will greatly enhance our understanding of the property geology, especially in areas dominated by water and swamp with limited rock exposure.

As a result of the recent exploration work by Company geologists, and the research of historical work in the area, the Company has now staked an additional 25 claims to cover the eastwards extension of the Puella Bay felsic strata and exhalite layers. With the addition of the new claims, VMS Ventures' land position in the area now covers a continuous 30 km length of this prospective felsic volcanic unit and more than doubles our previous coverage. Dr. George Gale states: "It is generally not possible to acquire such large areas of prospective ground within a camp with the success record of the Flin Flon-Snow Lake Belt. I believe it shows just how much there is left to learn about this camp and suggests that there are lots of opportunities to discover more deposits similar to the recent Lalor and Reed Lake discoveries in this belt."

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 of Exploration, 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.

ON BEHALF OF THE BOARD OF DIRECTORS

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
    or
    Coal Harbor Communications
    Dale Paruk
    (604) 662-4505 or Toll Free: 1-877-345-3399