VMS Ventures Inc.
TSX VENTURE : VMS

VMS Ventures Inc.

July 28, 2011 06:30 ET

VMS Ventures Intersects Second Copper Occurance at Cowan River Snow Lake, Manitoba

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 28, 2011) - VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS") is pleased to announce the results from its recent drill program at the Cowan River zone and VTEM target R-4 (see table below). Hole RE-11-007 intersected 1.40% copper over 3.06 metres testing for a continuation of mineralization at the Cowan River zone discovered this past winter by the Company. A separate hole was drilled to test a VTEM airborne conductor and magnetic anomaly located 2 km south of the Cowan zone reporting 1.12% copper over 0.47 metres in hole number RE-11-006.

Drilling focused on our recently discovered Cowan River zone (see press release dated April 13, 2011) and a new VTEM anomaly located 2 km south of the Cowan River zone. Two holes were drilled targeting the strike extension of the Cowan River zone and intersected favourable geology with narrow copper values within chloritized basalts. Stringer sulphide feeder veins within strongly chlorite altered volcanic rocks are a common feature around VMS type deposits mined in the belt. A detailed review of all borehole/surface pulse electromagnetic data and 3D modeling are underway prior to the next phase of drilling.

Drilling of VTEM target 'R-4' located 2 km south of the Cowan River zone resulted in an intersection of 1.12% Cu over 0.47 metres in hole RE-011-006. This mineralization is hosted within altered basalts, which is very similar to the Cowan River zone and is in the same geological environment that hosts the Reed Copper deposit located 8 km west. The Reed Copper deposit hosts a NI 43-101 compliant indicated resource of 2.55 MT of 4.52% copper and 0.91% zinc.

Plans are now underway to complete a surface DPEM survey between this new discovery at VTEM target 'R-4' and the Cowan River zone (see figure 1, visit the following link: http://media3.marketwire.com/docs/ProposedDPEMgrid.jpg). The Reed Lake MEL (Cowan River) is a 100% owned land package, 68 sq. km in area and is adjacent to VMS Ventures' joint venture – option properties with HudBay Minerals Inc. (TSX:HBM)(NYSE:HBM).

Neil Richardson, VMS' Chief Operating Officer states: "We are pleased that this drilling has intersected additional copper mineralization at the Cowan River zone and that a second occurrence of VMS style copper mineralization has been discovered 2 km away. Strong chlorite alteration and highly anomalous values in hole RE-11-006 confirm that we are in a highly prospective belt and further geophysical surveys and a review of BHPEM/DPEM data and 3D geological modeling are planned ahead of the next phase of drilling."

Assay Data:
Hole Number From (m) To (m) Length (m) Cu % Zn % Au (g/t) Ag (g/t) Target
RE-11-006 202.26 202.73 0.47 1.12 0.03 0.03 3.30 R-4
RE-11-007 164.33 167.39 3.06 1.40 0.02 0.03 2.29 Cowan River
RE-11-008 30.65 31.31 0.66 1.00 0.03 0.96 1.90 Cowan River
*True widths unknown*
Collar Information:
Hole Number UTM East (1) UTM North (1) UTM Elevation (1) Azimuth (2) Dip Length (metres)
RE-11-006 401610.00 6045775.00 287.00 270.00 -50.00 278.00
RE-11-007 401650.00 6047788.00 290.00 215.00 -50.00 245.00
RE-11-008 401650.00 6047788.00 290.00 270.00 -50.00 206.00
(1) Universal Transverse Mercator / North American Datum 1983 / Zone 14
(2) "Azimuth" is degrees from True North

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 BTW 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 TSL Laboratories in Saskatoon. Base metals were analyzed through atomic absorption spectrometry after a multi-acid digestion whereas gold was analyzed by fire assay Atomic Absorption using a 30 g assay ton, with gravimetric finish for assays greater than 3 g/t. Sampling and analytical procedures are subject to a comprehensive Quality Assurance and Quality Control program that includes duplicate samples, blanks and analytical standards.

The Company's Reed Lake deposit (NI 43-101 compliant Indicated Mineral Resource of 2.55MT of 4.52% copper – in press release dated April 1, 2011, see table below) is currently being developed by VMS Ventures joint venture partner HudBay Minerals Inc. (TSX:HBM)(NYSE:HBM), VMS is a 30% owner and is carried to production.

Reed Lake NI-43-101 Mineral Resource – April 01, 2011
Mineral Resource Contained Metal
Category Tonnes Au (g/t) Ag (g/t) Cu (%) Zn (%) Au oz Ag oz Cu lbs Zn lbs
Indicated 2,550,000 0.64 7.86 4.52 0.91 52469 644382 253572000 51051000
Inferred 170,000 0.38 4.55 4.26 0.52 2077 24868 15932400 1944800

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.

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.
    Keith Patey
    Director of Communications
    (604) 986-2020 or Toll Free: 1-866-816-0118
    www.vmsventures.com

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