VMS Ventures Inc.: RD-08-51 Through RD-08-56 Contain Intersections of Near Solid Sulphides or Sulphide Veinlets at Reed Lake, Ma
July 31 2008 - 6:30AM
Marketwired
VANCOUVER, BRITISH COLUMBIA (the "Company") is pleased to update
shareholders on the exploration activities currently underway in
the Snow Lake area.
Highlights:
RD-08-51: 97.21m (318.93 ft) of Sulphide Veinlets
RD-08-53: 50.38m (165.29 ft) of Near Solid Sulphides
RD-08-55: 58.74m (192.70 ft) of Near Solid Sulphides
TABLE ONE
MINERALIZED INTERVALS IN DRILL HOLES RD-08-51 to RD-08-56
(Assays Pending)
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DRILL FROM TO INT MINERALIZATION
HOLE (m) (m) (i) DESCRIPTION
------------------------------------------------------------------
RD-08-51 223.25 320.46 97.21m Sulphide Veinlets
------------------------------------------------------------------
RD-08-52 120.67 124.23 3.56m Near Solid Sulphide
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RD-08-53 131.38 149.64 18.26m Near Solid Sulphide
------------------------------------------------------------------
152.39 184.51 32.12m Near Solid Sulphide
------------------------------------------------------------------
RD-08-54 394.80 415.00 20.20m Sulphide Veinlets
------------------------------------------------------------------
RD-08-55 147.41 187.90 40.49m Near Solid Sulphide
------------------------------------------------------------------
191.12 209.37 18.25m Near Solid Sulphide
------------------------------------------------------------------
RD-08-56 252.54 257.91 5.37m Near Solid Sulphide
------------------------------------------------------------------
261.01 271.96 10.95m Near Solid Sulphide
------------------------------------------------------------------
(i) True thickness is unknown
Dr George Gale, VP Exploration, states: "The current drilling,
within sections oriented perpendicular to the trend of
mineralization, is designed to establish the continuity of
mineralization both vertically and along strike. Drilling will
continue to test for extensions of the mineralization to both the
east and west. The host rock geology of the deposit appears complex
and although the mineralization itself has been relatively
consistent and prolific within the area drilled to date, locally it
pinches and swells. Also, and very encouraging, the most recent
holes have identified thick sections of chalcopyrite-pyrrhotite
mineralization in areas of contiguous mineralization."
Drill holes RD-08-52, RD-08-53, RD-08-55, and RD-08-56 were
drilled in the same section at azimuth 160. All four of the drill
holes intersected mineralization of varying lengths, but
demonstrate good vertical continuity within the section. Drill
holes, RD-07-02, RD-07-07, RD-07-10 and RD-07-15 were all drilled
in the same section at azimuth 340 (opposite direction from the
azimuth 160 drill holes) and provide similar vertical continuity.
These two sections were drilled approximately 60 metres apart and
provide an apparent strike of azimuth 260. The two sections
demonstrate good vertical continuity and show apparent dips of near
vertical to -70 degrees north. Additional sections on azimuth 160
are now being drilled to confirm this interpretation.
Both drills are now drilling more closely spaced sections within
the area of known mineralization to enable a reliable tonnage and
grade estimate to be made. One drill will complete sections within
the area containing known mineralized intercepts and work towards
the east and then will begin testing areas to the east of the known
mineralized intercepts. The second drill will be testing sections
to the west of the known mineralized intercepts.
The Tower Zone
The Tower Zone anomalies remain of great interest to the
Company. They have been identified in several independent
geophysical surveys including airborne VTEM, DeepEM ground surveys,
Induced Polarization (IP) and Bore hole EM surveys. Intervals of
weakly altered rock were intersected, but do not explain the target
anomaly. Strong off hole conductors were identified in recent down
hole surveys of drill holes TZ-08-02 and TZ-08-04. Drill hole
TZ-08-05 will be probed shortly.
Dr. George Gale, P.Eng states: "From a geological perspective,
the Tower Zone appears to have all the right ingredients for this
area to host VMS type massive sulphide. The confirmation of this
anomaly in several completely independent surveys suggests it is a
target worthy of further drilling."
The Tower Zone target area is located approximately 1,000 m to
the east of the Discovery Zone and consists of a series of
geophysical conductor anomalies over a 1.2 km length.
Summer Field Program
The Company is undertaking an aggressive ground exploration
program on its properties in the Snow Lake area this summer. Field
crews are currently collecting geochemical samples over new target
areas on the Reed Lake property, Copper Project and at the Puella
Bay property. The soil samples are being taken over areas where
earlier VTEM and ground geophysical surveys have identified
anomalies. The geochemical sample data will be merged with
geophysical data, and where possible, geological mapping data, in
order to prioritize targets for drill testing later in the year and
for winter 2008/2009. Several hundred geophysical anomalies are
being evaluated with geochemical survey data this summer.
Data Compilation
The Company has completed a wide range of geophysical surveys
over the Discovery Zone and nearby areas including the Tower Zone
area collecting EM, IP, Gravity and Magnetic data. This data set is
undergoing a thorough compilation process in order to better
understand and detect mineralization at depth.
All technical information in this release has been reviewed by
Dr. George Gale, P.Eng, Vice President of Exploration, VMS Ventures
Inc.
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, 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 does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: VMS Ventures Inc. Keith Patey (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: 1-877-345-3399
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