RD-08-53 Intersects 53.09 Metres of 3.08% Copper; Second Mineralized Zone Confirmed at VMS Discovery Zone Near Snow Lake, Manito
September 16 2008 - 6:30AM
Marketwired
VMS Ventures Inc. (TSX VENTURE: VMS) (the "Company") is pleased to
announce assay results from drillholes RD-08-50 and RD-08-53 at its
Reed Lake Discovery Zone near Snow Lake, Manitoba.
Highlights:
- RD-08-53 53.19 metres (174.51 feet) of 3.08% Cu
Including 9.72 metres (31.89 feet) of 5.18% Cu
- RD-08-50 8.96 metres (29.40 feet) of 2.24% Cu
TABLE ONE
REED LAKE DRILLHOLES(i)
RD-08-50 and RD-08-53
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FROM TO INTERVAL COPPER ZINC SILVER GOLD
HOLE ID (m) (m) (m) (%) (%) (g/t) (g/t)
-----------------------------------------------------------------------
RD-08-50 132.08 136.74 4.66 1.03 0.01 Pending Pending
-----------------------------------------------------------------------
and 268.04 277.00 8.96 2.24 1.47 Pending Pending
-----------------------------------------------------------------------
RD-08-53 131.38 184.57 53.19 3.08 0.09 Pending Pending
-----------------------------------------------------------------------
inc 139.93 149.65 9.72 5.18 0.08 Pending Pending
-----------------------------------------------------------------------
(i) True Thickness unknown
VMS Vice President of Exploration, Dr. George Gale, states, "We
have now confirmed, based on the recent sectional drilling of the
Reed Lake Discovery Zone, that there are at least two lenses of
mineralization present. Initial drilling of the deposit suggested
that there was one zone with abundant debris flow sulphides and
high-grade chalcopyrite sections in pyrrhotite (iron-sulphide)-rich
sections. We have now determined that the debris flow material
occurs in a 3 to 5 m thick, stratigraphically controlled lense (A
lense), and that the high-grade copper intersections occur within a
chalcopyrite-pyrrhotite zone that is structurally controlled
mobilizate (B lense)."
Drillholes RD-08-38 and RD-08-41 intersected high grade
chalcopyrite-pyrrhotite zones without debris flow material.
Drillhole RD-08-56, and later holes in the western portion of the
deposit, have confirmed that it comprises a lower-grade northwards
dipping stratabound pyrite-magnetite zone (A lense) and a separate
near vertical cross-cutting high-grade copper-rich
chalcopyrite-pyrrhotite lense (B lense). The mineralization in both
lenses is open to the west.
The cross-cutting B lense consists of both near solid sulphide
and sulphide veinlets. Previously, the B lense had been intersected
by RD-08-41 with assays of 10.36% copper over 33.46 metres. The
mineralized intersections in RD-08-53, RD-08-55 and RD-08-56
confirmed the existence of the B lense. These holes intersected
sections of high-grade copper in near solid sulphide within
significant intervals. RD-08-61 intersected 119.37 metres of
sulphide veinlets and near solid sulphide within the B lense
(assays pending). The most recent hole to intersect the B lense is
RD-08-71 which contains 39.71 metres of near solid sulphide. Assays
are also pending for this drill hole.
The Company's present understanding of the B lense is that it is
near vertical, extends towards the southwest and is oriented at a
moderate to high angle to the stratigraphically controlled A lense,
which trends approximately east-west and dips 70-80 degrees north.
On the westernmost section drilled to date, the B lense is located
approximately 50 to 75 m south of the A lense.
http://www.vmsventures.com/image_pages/image024.asp
Borehole EM geophysical anomalies have identified conductive
targets along strike to the east and west of current drilling. A
recent Induced Polarization (IP) geophysical survey in the area of
the Discovery Zone indicates the presence of an anomaly that is
interpreted to be the westward extension of the B lense. Additional
surface and borehole geophysical surveys are planned to assist in
targeting the mineralization at depth and along strike to the
west.
All technical information in this release has been reviewed by
Dr. George Gale, P.Eng., 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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