VMS Announces Silver and Gold Results From Its Reed Lake Discovery Near Snow Lake, Manitoba
February 25 2009 - 6:30AM
Marketwired
VMS Ventures Inc. (TSX VENTURE: VMS) (the "Company") is pleased to
announce silver and gold assay results for core samples from drill
holes RD-08-25 and RD-08-36 to RD-08-61. These precious metal
results had not been received when the copper and zinc values were
published. Significant gold and silver assays are summarized in the
table below. Today's precious metal assays are presented on the
Company's website at
http://www.vmsventures.com/discovery_zone_nr.asp#charts2.
The highest silver and gold assays reported today are from
drillhole RD-08-57, which intersected the A lense mineralization.
The A lense is interpreted to be debris flow material derived from
a yet to be identified sulphide mound. Assay values for the B lense
mineralization are similar to those intersected in holes RD-08-40
and RD-08-55. They are generally lower in both silver and gold,
with sporadic higher values of greater than 5 g/t Ag and greater
than 1 g/t Au.
GOLD AND SILVER ASSAYS FOR HOLES RD-08-40, RD-08-57 and RD-08-55(i)
-----------------------------------------------------
HOLE FROM TO LENGTH Ag Au
ID (m) (m) (m) (g/t) (g/t)
-----------------------------------------------------
RD-08-57 116.33 118.37 2.04 18.10 1.22
-----------------------------------------------------
RD-08-40 286.11 286.81 0.70 0.09 1.46
-----------------------------------------------------
RD-08-55 147.41 209.37 61.96 7.90 0.29
-----------------------------------------------------
inc 148.94 169.77 20.83 11.40 0.54
-----------------------------------------------------
inc 161.34 168.49 7.15 18.00 0.70
-----------------------------------------------------
(i) True Thickness Unknown
George Gale, VP Exploration, states, "The silver and gold values
are consistent with our understanding of the deposit. The A lense
tends to have much higher Ag and Au than the B lense. This
observation provides additional evidence for our interpretation of
the A lense as originating from a sulphide mound, or the core of
the mineralizing system, which has not yet been discovered. The B
lense occurs as high-grade copper mobilizate derived from the same
source as the A lense. This mobilizate at the Discovery Zone is
interpreted to have been produced by elevated temperature and
pressure associated with a nearby mafic intrusion."
Historically, the average gold and silver grades of deposits in
the Flin Flon - Snow Lake belt approximate 2 g/t Au and 30 g/t Ag.
At the Discovery Zone, the lower silver and gold grades, the
high-grade copper mobilizate and textures observed in drill core
indicate the mineralization has been displaced from its original
depositional site. The more typical gold and silver grades for the
belt and additional copper and zinc are likely to be found at the
origin of the mineralization.
All technical information in this release has been reviewed by
Dr. George Gale, P.Eng, who is the Qualified Person for the Company
and Vice President, VMS Ventures Inc.
VMS Ventures Inc. currently has a profile on Corebox.net which
is updated as soon as assay results are released. The link to visit
our Corebox profile is:
http://www.corebox.net/properties/reed_lake/
Investors are invited to visit the VMS Ventures IR Hub at
http://www.agoracom.com/IR/VMSVentures where they can post
questions and receive answers or review questions and answers
already posted by other investors. Alternatively, investors are
able to e-mail all questions and correspondence to VMS@agoracom.com
where they can also request to be added to the investor e-mail list
to receive all future press releases and updates in real time.
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