VMS Ventures Inc.: Puella Bay Project Drilling Begins
February 26 2009 - 6:30AM
Marketwired
VMS Ventures Inc. (TSX VENTURE: VMS) (the "Company") is pleased to
announce that a drill program is now underway on its Puella Bay
Project, located approximately 25 km southeast of Snow Lake,
Manitoba.
The drill program will test four of the ten target areas
identified to date on the Puella Bay Project. This program is
designed to explore targets situated underwater or beneath swamp
covered areas of the property, which are accessible only during the
winter freeze up season.
The five hole, 1,000 metre drill program will test geophysical
conductor targets of interest. It will provide important geological
information, not obtainable by more conventional means, such as
geological mapping and prospecting, due to overburden and water
cover. Each of the targets being tested is considered prospective
for the same kind of copper-zinc mineralization discovered at the
Company's Reed Lake Project in 2007 and deposits elsewhere in the
belt.
Three of the targets occur within a four km long string of
highly conductive VTEM anomalies situated adjacent to an extensive
zone of VMS-type alteration in the southern part of Puella Bay.
Drill holes containing zinc and copper mineralization and
alteration minerals in the vicinity of these targets were reported
in 1988 government assessment files by Hudson Bay Exploration &
Development (HBED). These results are helpful as they identify
economic minerals of interest, such as chalcopyrite and sphalerite,
and also provide evidence of alteration minerals associated with
VMS deposits. The anomalies being targeted in this program were
identified in the Company's 2008 VTEM airborne geophysical and
field surveys using technology not available in 1988.
The other two targets are located on a one km long VTEM anomaly
at the north end of the property, in an area that has not been
drilled previously. This anomaly shows variations in magnetic
susceptibility and conductivity and is centered over the axis of a
regional anticline structure.
All of the Puella Bay Project targets identified to date are
situated at the margin of, or within, a 1,200 m thick unit of
felsic volcanic rocks. There is evidence of extensive hydrothermal
activity in the felsic rocks, including chlorite and sericite
alteration, together with minor amounts of chalcopyrite. This
occurs over a distance of approximately three km in a north-south
direction and approximately one km in an east-west direction.
Previous drilling within the alteration zone intersected abundant
sericitic alteration and over 5% Zn in quartz rich veinlets. In the
past, explorers excavated a number of trenches in sulphide-bearing
rocks with minor amounts of Cu and Zn. An extensive exhalite zone
consisting of layered chert, earthy pyrite and magnetite, known
from previous drilling, is present along the eastern edge of this
alteration zone. The untested, highly conductive VTEM anomalies
that will be targeted during this drill program are situated at the
eastern edge of the alteration zone and immediately west of the
exhalite unit.
The Company anticipates that drilling will be completed in mid
March. The Company is also planning a ground geophysical survey
which should be completed by the end of March. The remaining target
areas will be examined by field geologists during the summer
program.
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
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