VMS Ventures Inc.
TSX VENTURE : VMS

VMS Ventures Inc.

February 08, 2012 06:30 ET

VMS Ventures Trenching Program Returns Assays of Up to 61.73 g/t Gold at Its Sails Lake Property Near Snow Lake, Manitoba

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 8, 2012) - VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS") today announced results from a mechanical trenching, outcrop power washing, mapping and sampling program at its 100% owned Sails Lake Property in northwestern Manitoba.

Neil Richardson, VMS' Chief Operating Officer, states: "I am pleased with the results from our channel sampling program at Sails Lake and look forward to incorporating these results into our 3D IP/geological model. The Long Zone mineralization is still open to the east and high grade samples from the M-Zone are not drill tested. Both areas warrant follow-up work."

The program was carried out in August of 2011 in three main areas of the property named the Long Zone, M-Zone and the E-Zone. Each area consists of numerous large trenches that expose gold mineralization in association with quartz vein and bedrock-hosted blocky and acicular arsenopyrite. Host rock to the gold mineralization is a multi-phase tonalite-gabbro intrusion. The mineralized zones are marked by Induced Polarization (IP) chargeability anomalies and well developed Mobile Metal Ions soil geochemical anomalies.

The Long Zone trench uncovered two sets of quartz veins. One set trends in a northeasterly direction, is mineralized with arsenopyrite and appears to be the host for the gold mineralization with values of up to 61.73 g/t gold. The second set trends north-northwesterly and is barren. Two previous holes drilled by VMS beneath the Long Zone trench assayed 1.21 g/t gold over 58.89 metres core length (DDH SA-10-007) and 1.48 g/t gold over 13.41 metres core length (DDH SA-11-013). Channel sample results from the current program will be incorporated with our 3D IP data and drill data in the upcoming months. Two additional trenches were excavated at locations 35 metres and 75 metres from the main trench at the Long Zone. These new trenches uncovered a large broad northeast-trending shear zone with lesser gold values of up to 0.31 g/t. This shear zone is interpreted to be a late feature and unrelated to the main gold mineralizing event.

The M and E Zone trenches exposed gold mineralization associated with quartz veins in a tonalite intrusion with values of up to 13.58 g/t. These gold values are associated with blocky to acicular arsenopyrite and similar to the Long Zone mineralization. Gold values are generally sporadic and correspond with the amount of quartz veins observed in outcrop. These veins are quartz-filled tension gash structures developed at the boundaries of the multi-phase tonalite intrusion.

The Sails Lake property is located 25 km east of the mining community of Snow Lake, Manitoba and consists of 8 claim blocks covering an area of approximately 1,900 hectares. Additional follow-up work on this project is warranted and will be reviewed in the upcoming months.

For additional details on exploration on our Sails Lake property, see VMS' press releases issued between January 24, 2007 and September 9, 2011, available at www.vmsventures.com.

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

Geological mapping was carried out at 1:100 scale by geologists and geotechnicians employed VMS Ventures Inc. Channel samples were marked on outcrop with spray paint and samples were cut with a portable diamond saw approx. 4cm thick and 5cm deep with the maximum sample length of 1.2 metres, but average 0.60 metres. The channel samples were then placed in plastic bags and tagged with a unique sample number. A metal tag with the sample number was placed in cross slots at the end of samples for future reference. Chemical analyses reported in this press release were performed by TSL Laboratories in Saskatoon, SK, where it was dried, crushed and pulverized and a 250-gram sample was prepared for assaying. Gold was analyzed by fire assay Atomic Absorption using a 30g charge, 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 blanks and analytical standards.

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 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.

VMS Ventures owns approximately 45% of North American Nickel Inc. (TSX VENTURE:NAN). For more information on North American Nickel Inc., please visit www.northamericannickel.com.

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.
    John Roozendaal
    President
    (604) 986-2020 or Toll Free: 1-866-816-0118

    VMS Ventures Inc.
    Evan Sleeman
    Director
    (604) 986-2020 or Toll Free: 1-866-816-0118
    www.vmsventures.com