VMS Ventures Inc.
TSX VENTURE : VMS

VMS Ventures Inc.

April 20, 2011 13:19 ET

VMS Ventures Reports on Two Additional Holes at Its Cowan River Copper-Zinc Discovery, Near Snow Lake, Manitoba

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 20, 2011) - VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS") is pleased to announce additional drill results for its Cowan River project near Snow Lake. The Cowan River property is located 7.5 km east of the Company's Reed Lake copper-zinc deposit, 8.1 km west of the past-producing Spruce Point deposit and 1.5 km south of provincial road 39.

The Cowan River Zone was discovered by drilling an airborne geophysical (VTEM) anomaly. The discovery was announced April 13, 2011 with hole RE-11-001 intersecting 6.59 metres of 2.25% copper and 0.61% zinc including 1.37 metres of 9.81% copper and 1.46% zinc.

Three holes have been drilled at the discovery zone at Cowan River for a total of 834 metres. Assay results for holes RE-11-04 and RE-11-05 are displayed in the table below. They are collared near the discovery hole and have intersected favourable alteration and numerous disseminated to well-mineralized sulphide zones containing highly anomalous copper and zinc mineralization, with up to 2.12% copper and 2.04% zinc.

Neil Richardson, VMS' Chief Operating Officer states: "It is very encouraging to see strong chlorite alteration and the style of sulphide mineralization resembling stringer zone "feeder pipe" material which occurs in the footwall or beneath massive sulphide deposits. As well, this discovery is spatially related to the former Spruce Point mine and VMS' Reed Lake discovery. Boreholes have now been completed using pulse electromagnetic technology ("BHPEM") and new anomalies have been identified and incorporated into the Company's 3D model. Additional exploration on this discovery is now a high priority for VMS and plans are being developed for the next phase of work later in the spring."

Additional VTEM anomalies northeast of the Cowan River discovery were tested by drill holes RE-11-002 and RE-11-003. The anomalies were explained by the presence of barren sulphide facies iron formation. No further work is planned on these targets.

Assay Data:

Hole
Number
From
(m)
To
(m)
Length
(m)
Cu %Zn %Au (g/t)Ag (g/t)
RE-11-004100.19101.241.050.970.050.032.10
RE-11-004124.40124.960.561.320.080.034.70
RE-11-004183.01184.061.052.120.100.213.65
RE-11-004206.47208.301.830.052.040.031.94
RE-11-00590.8391.490.661.000.060.033.35
RE-11-005205.21207.452.240.231.830.030.88
RE-11-005224.82226.551.730.940.010.031.35
RE-11-002No Significant Assays
RE-11-003No Significant Assays
*True widths unknown*

Collar Information: (RE-11-001 – announced in PR April 13, 2011)

Hole
Number
UTM East (1)UTM North (1)UTM Elevation (1)Azimuth (2)DipLength
(metres)
RE-11-001401655.006047750.00283.00270.00-50.00239.00
RE-11-002403980.006048350.00287.00290.00-50.00287.00
RE-11-003402545.006048687.00295.0090.00-50.00379.00
RE-11-004401650.006047788.00283.00235.00-62.00281.00
RE-11-005401650.006047788.00283.00215.00-67.00314.00
(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 NQ 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 a and analytical standards.

The Company's Reed Lake deposit (NI 43-101 compliant Indicated Mineral Resource of 2.6MT 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 ResourceContained Metal
CategoryTonnesAu (g/t)Ag (g/t)Cu (%)Zn (%)Au ozAg ozCu lbsZn lbs
Indicated2,550,0000.647.864.520.915246964438225357200051051000
Inferred170,0000.384.554.260.52207724868159324001944800

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