VMS Ventures Inc.: RD-08-51 Intersects 97.21 Metres of 2.08% Copper at Discovery Zone, Snow Lake, Manitoba
September 04 2008 - 6:30AM
Marketwired
VMS Ventures Inc. (TSX VENTURE: VMS) (the "Company") is pleased to
report assay results from drill holes RD-08-51 and RD-08-52 at its
Reed Lake Discovery Zone near Snow Lake, Manitoba.
Drillhole RD-08-51 intersected two zones of mineralization: from
223.25 to 320.46 metres and 367.81 to 370.16 metres. The upper zone
contains 97.21 metres of 2.08% Cu and the lower zone contains 5.14
metres of 1.14% Cu. Hole RD-08-51 is on the same cross-section as
holes RD-08-59, RD-08-70 and RD-08-71, whereas hole RD-08-52 is on
the same section as holes RD-08-11, RD-08-53 and RD-08-55.
Highlights:
- RD-08-51: 97.21 m (318.93 ft) of 2.08% Cu, 0.07% Zn
Including: 10.77 m (35.33 ft) of 6.86% Cu, 0.23% Zn
- RD-08-52: 5.14 m (16.86 ft) of 1.14% Cu, 0.02% Zn
TABLE I
ASSAYS FOR DRILLHOLES
RD-08-51 and RD-08-52
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DRILL FROM TO INT(i) Cu Zn Ag Au
HOLE (m) (m) (m) % % g/t g/t
---------------------------------------------------------------------
RD-08-51 223.25 320.46 97.21 2.08 0.07 Pending Pending
---------------------------------------------------------------------
Inc 223.25 234.02 10.77 6.86 0.23 Pending Pending
---------------------------------------------------------------------
Inc 240.05 286.31 47.14 2.28 0.06 Pending Pending
---------------------------------------------------------------------
And 367.81 370.16 2.35 2.53 0.05 Pending Pending
---------------------------------------------------------------------
RD-08-52 120.67 125.58 5.14 1.14 0.02 Pending Pending
---------------------------------------------------------------------
(i) True Thickness unknown
Dr. George Gale, VP Exploration states, "The intersection in
RD-08-51 consists predominantly of sulphide veinlets similar to the
mineralization in RD-08-38. To achieve a grade in excess of 2%
copper over such a long interval is very encouraging and suggests
that we may have the beginnings of a second zone of mineralization
as it appears to be different than the pyrite-magnetite zone."
New Property Acquisition
VMS Ventures Inc. has entered into an Option Agreement with Mr.
William Kuran and Mr. Warren Heidman to acquire a 100% interest in
the Mort Claims which are located 27 km west of the mining
community of Snow Lake and 21 km north of the Company's Reed Lake
Property. The Mort Claims comprise a contiguous block of 12 claims
covering an area of 23.18 sq km and are considered prospective for
copper-zinc deposits.
In order to earn a 100% interest in the claims, VMS Ventures
Inc. will issue 75,000 common shares of the Company to each of the
two property vendors of the property upon receipt of the acceptance
of the TSX Venture Exchange. Also, a onetime payment of $25,000
will be made. The property is subject to a Net Smelter Royalty
("NSR") of 2%, one half of which may be purchased by VMS Ventures
Inc. for $500,000.
VMS Ventures Inc. employs a rigorous quality assurance and
quality control program that includes secure storage and shipping
of assay samples combined with standards, blanks, duplicates and
replicate assays. All the samples reported in this release were
prepared and assayed at Activation Laboratories Ltd. in Ancaster,
Ontario.
All technical information in this release has been reviewed by
Dr. George Gale, P.Geo, Vice President, 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 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:
1-877-345-3399
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