VMS Ventures Inc.
TSX VENTURE : VMS

VMS Ventures Inc.

April 17, 2007 14:51 ET

VMS Ventures Reports Drill Testing of Nickel Targets has Commenced on Lynn Lake Gabbros Project, Manitoba

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 17, 2007) - VMS Ventures Inc. (TSX VENTURE:VMS) (the "Company") is pleased to announce that diamond drilling has commenced at the Company's Lynn Lake Gabbros Nickel Properties. VMS Ventures holds a dominant land position in the Lynn Lake Nickel Mining Camp, historically, the third largest nickel producing camp in Canada.

This drill program is testing IP anomalies interpreted to represent sulphide mineralization, detected on the Carr Lake and Frazer Lake claim blocks. Drill roads and pads for the first three holes have now been constructed and the first hole has been collared. The first hole is planned to test for nickel-copper-cobalt PGE mineralization to a depth of 330m (1,080 feet). The targets are based on the results of a deep penetrating IP geophysical survey preformed in March 2006 which identified stacked vertical anomalies and geological similarities, such as rock type and structures, to the nearby nickel mines. Road access to the Frazer Lake targets is being evaluated by field personnel.

The targets being tested in this program are of particular interest as they appear to be vertically oriented bodies, the same orientation as the nickel-copper ore bodies in the Lynn Lake nickel mine. Mineralization at the historic Lynn Lake deposits was mined to a depth of 4500 feet (approximately 1,370 metres), and occurred as a series of vertically plunging bodies of massive, semi-massive, and disseminated or vein hosted sulphide minerals.

The Lynn Lake Mine Area

Sherritt Gordon Mines Ltd., mined the Lynn Lake nickel-copper deposits from 1953-1976. The mined deposits were discovered in two mafic-ultramafic intrusive bodies, known as the "Main" and the "El" gabbroic plugs. The Main and El gabbroic plugs produced 20,151,146 tonnes of ore at an average grade of 1.023% Ni and 0.535% Cu from three mines over a 24 year period.

VMS Ventures Inc.'s claims cover 5 of the 7 known Lynn Lake gabbroic plugs in the camp. The two gabbroic plugs not held by the Company, the A and the El, are now being explored by Independent Nickel Corporation (INI.V) and Western Areas NL (WSA.T) respectively.

VMS Ventures' Land Position:

VMS' property package is comprised of 4 separate claim groupings, the Ralph Lake, Frazer Lake, Carr Lake and Norrie Lake. It covers a total area of 38.83 square kilometres making it the largest land position over the Lynn Lake gabbro bodies in the camp. The northern boundary of the Frazer Lake claim group comes within 200 metres of the claim which covers the very rich EL plug that has produced approximately 1.0 million tonnes of ore grading 3.3 per cent nickel and 1.1 per cent copper to a depth of 270 metres.

Recent Exploration History:

Between July 2005 and April 2006, approximately $215,000 in exploration expenditures were made on the properties through a high resolution Magnetic and EM geophysical airborne survey, and a deep penetrating IP geophysical survey. Several new prospective anomalies were identified and appear to be related to sulphide mineralization at depth. All of the anomalies being targeted in the program now underway are untested and have not undergone previous drilling.

The Company holds the option to earn a 100% interest in the claims subject to an NSR. All technical information in this release has been reviewed by Dr. George Gale, P.Eng, Vice President of Exploration, VMS Ventures Inc.

Lynn Lake is located in Northern Manitoba, 320 kilometres by road, northwest of INCO's (CVRD) (RIO:NSY) nickel smelter at Thompson and has significant infrastructure including an airport, all weather road access, hydroelectricity and a rail line. Manitoba was recently rated by the Fraser Institute of Vancouver, Canada as the best jurisdiction in the world for developing a mine.

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 package of land considered prospective for nickel-copper mineralization at Lynn Lake, historically, 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 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, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • VMS Ventures Inc.
    John Roozendaal
    President
    (604) 986-2020 or Toll Free: 1-866-816-0118
    (604) 986-2021 (FAX)
    Website: www.vmsventures.com