VMS Ventures Reports Strong Anomaly South-West of Reed Lake Discovery Zone Near Snow Lake, Manitoba
January 15 2009 - 2:13PM
Marketwired
VMS Ventures Inc. (TSX VENTURE: VMS) (the "Company") is pleased to
report the results from borehole surveys conducted on drillholes at
the western edge of the Reed Lake deposit.
Borehole geophysical studies have been completed on the
westernmost section of the deposit and indicate a very strong EM
conductor is present west-southwest of the sections containing
drill holes RD-08-71 and RD-08-72.
Drill hole RD-08-71 intersected 39.71m of 4.04% copper between
445.39 and 485.10m (VMS press release, November 26, 2008). Hole
RD-08-72 was drilled to test the extent of the mineralization
beneath RD-08-71, however no significant sulphides were reported. A
Borehole EM survey (BHEM), utilizing a Crone Pulse TDEM system, was
contracted to survey holes RD-08-71 and RD-08-72, to search for
indications of the RD-08-71 mineralization to the west, south and
at depth.
Kevin Ralph, Chief Geophysicist of Crone Geophysics &
Exploration Ltd. in Mississauga, Ont., who has analyzed and
interpreted the BHEM surveys for the Company states:
"The dominant response in RD-08-72 is a very strong off-hole
anomaly at a depth of approximately 540m. This conductor is
interpreted to be within 15-20m of the hole and is the down-dip
extension of Zone B on this section. A complex response pattern is
evident in the cross-component directional data and this has been
interpreted and modeled as being due to the steep westerly plunge
of the zone.
The most encouraging results from these BHEM surveys is that the
cross-component BHEM vector is not pointing back to the known
mineralized Zone, but rather is pointing away from it, towards the
west-southwest of the deposit. The implications of the survey
indicate excellent potential to significantly expand on the strike
and (down) plunge extent of this mineralization. It is very
difficult to determine absolute limits of the down-plunge and
west-southwestern extent of this Zone, however numerical modeling
studies suggest a sizeable source region and aggressive step-out
drill holes are strongly recommended."
Vice President of Exploration, George Gale, states: "These
results are showing that the Geophysical signals to the west are as
strong as the signal strength received to date from the easterly
direction, where drilling has delivered outstanding results in the
deposit's B lense. This suggests that the deposit remains open in
the undrilled area southwest of the section that contains holes
RD-08-71 and RD-08-72 and provides the Company with additional
information on which to build its 2009 plans for our now 100% owned
Dunlop claims at the Reed Lake deposit."
All technical information in this release has been reviewed by
Dr. George Gale, P.Eng, the Qualified Person, Vice President of
Exploration and director of 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
Vortex Metals (TSXV:VMS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Vortex Metals (TSXV:VMS)
Historical Stock Chart
From Jul 2023 to Jul 2024