VMS Reports 10.36% Copper Over 33.46 Metres in Deepest Intercept to Date at Reed Lake, Manitoba
July 03 2008 - 10:00AM
Marketwired
VANCOUVER, BRITISH COLUMBIA (the "Company") is pleased to report
on its ongoing exploration program at the Reed Lake Discovery Zone
near Snow Lake, Manitoba.
Reed Lake Drill Hole Highlights:
- RD-08-38 Intersects 35.81 metres (117.49ft) of 2.22%
Copper
Including 12.10 metres (39.70ft) of 2.92% Copper
- RD-08-39 Intersects 13.88 metres (45.54ft) of 3.56% Copper
Including 4.10 metres (13.45ft) of 7.67% Copper
- RD-08-41 Intersects 33.46 metres (109.78ft) of 10.36%
Copper
Including 18.08 metres (56.04ft) of 13.03% Copper
Including 5.00 metres (16.40ft) of 16.30% Copper
Dr. George Gale, VP Exploration, comments, "The results from
drill hole RD-08-41 indicate that there are very high-grade copper
sections to this deposit. It is also noteworthy that this is the
deepest intersection of mineralization to date at approximately 350
m from surface. The high-grade copper zones may represent a
copper-rich footwall zone that is stratigraphically below the solid
sulphide lens. This intersection is one of several high-grade
copper zones intersected to date that require more detailed
drilling to determine true thickness."
Short copper-zinc mineralized intervals are present in RD-08-25,
RD-08-40 and RD-08-42, which represent areas of shearing that
displaced most of the mineralized section. Similar displaced
sections exist in other drill holes, such as RD-08-15.
Drill holes RD-08-42 (see Table 1 below) to 47 and RD-08-49
intersected both altered footwall and hanging wall rocks but no
significant intervals of sulphide. These holes and a detailed
logging of previous drill holes have increased our understanding
and modeling of the deposit. Hole RD-08-42 entered a near vertical
shear above the targeted depth and deviated away from the
target.
Holes RD-08-48 and RD-08-50 were positioned to test copper rich
intersections of mineralization to the southwest in hole RD-08-38.
Hole RD-08-50 intersected 15 metres of Near Solid Sulphide (NSS),
which extends the NSS lens to the SW. Drill hole RD-08-48
intersected extensive, weakly altered footwall rocks but did not
reach the target depth.
Drilling continues at the Discovery Zone and at the Tower Zone
and results will be released as received.
TABLE ONE
REED LAKE DRILL HOLES(i)
-------------------------------------------------------------------------
FROM TO INTERVAL(i) COPPER ZINC SILVER GOLD
HOLE ID (m) (m) (m) (%) (%) (g/t) (g/t)
-------------------------------------------------------------------------
RD-08-38 229.65 266.44 35.81 2.22 0.06 Pending Pending
-------------------------------------------------------------------------
including 244.55 256.61 12.10 2.92 0.08 Pending Pending
-------------------------------------------------------------------------
-------------------------------------------------------------------------
RD-08-39 189.58 203.46 13.88 3.56 0.49 Pending Pending
-------------------------------------------------------------------------
including 196.32 200.42 4.10 7.67 1.84 Pending Pending
-------------------------------------------------------------------------
-------------------------------------------------------------------------
RD-08-41 332.14 365.60 33.46 10.36 0.11 Pending Pending
-------------------------------------------------------------------------
including 346.92 365.00 18.08 13.80 0.15 Pending Pending
-------------------------------------------------------------------------
including 355.00 360.00 5.00 16.30 0.14 Pending Pending
-------------------------------------------------------------------------
-------------------------------------------------------------------------
RD-08-25 124.55 127.38 2.83 0.85 5.14 Pending Pending
-------------------------------------------------------------------------
RD-08-40 286.11 286.81 0.70 1.78 1.48 Pending Pending
-------------------------------------------------------------------------
RD-08-42 473.61 474.06 0.45 0.82 0.04 Pending Pending
-------------------------------------------------------------------------
(i) True Thickness Unknown
All technical information in this release was reviewed by Dr.
George Gale, P.Eng the Qualified Person for VMS Ventures Inc.
Samples are prepared and analyzed at Activation Laboratories,
Ancaster, Ontario using acid digest assay analytical methods.
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 a 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 has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news
release.
Contacts: 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 Coal Harbor
Communications Dale Paruk (604) 662-4505 or Toll Free:
1-877-642-6200
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