VMS Ventures Inc.: Puella Bay Project Drilling Completed; Significant Alteration Intersected; 25 Claims Added to Land Package; D
April 07 2009 - 6:30AM
Marketwired
VMS Ventures Inc. (TSX VENTURE: VMS) (the "Company") is pleased to
announce that its drill program at the Puella Bay Project, located
approximately 25 km southeast of Snow Lake, Manitoba is completed.
The purpose of the 1,202 m of diamond drilling was to test four
geophysical targets and obtain geological information in areas of
the property with poor outcrop exposure, which hinders
comprehensive mapping and prospecting activity.
Holes 1 and 2 tested two geophysical conductors under the lake
at the north end of the property. The holes intersected layered
siltstones, argillite, graphitic argillite and a felsic rock of
unknown affinity. The conductor appears to be related to the
graphitic argillite, however, the targeted contact between the
argillite and the altered felsic rocks, expected from the
geological maps, was not intersected because of deeper than
expected water and overburden.
Hole 3 was drilled to test a VTEM anomaly along strike from
historical prospector trenches that contain the minerals sphalerite
(zinc sulphide), chalcopyrite (copper sulphide) and galena (lead
sulphide). The hole intersected approximately 300 m of altered and
pyritized felsic volcanic rocks. The alteration mineral assemblage
included pervasive sericite, biotite and pyrite; locally, there are
minor amounts of sphalerite, chalcopyrite, galena and arsenopyrite
in late veins that cross cut the early synvolcanic alteration.
Though the alteration appears to be intensifying down hole, there
is no definable target at this time and therefore the hole was
abandoned in altered rocks. The geophysical survey program now
underway will cover a large area around the drill hole and it is
anticipated the results of this survey will help to define further
targets in the area.
Hole 4 was located approximately 300 m east of hole 3 and also
drilled towards the west. The hole was designed to test a
geophysical anomaly and to intersect the contact between the unit
of altered rocks intersected in hole 3 and the unaltered rocks
containing the VTEM anomaly. The drill hole was collared into
unaltered felsic volcanic rocks and the alteration gradually
increased towards the bottom of the hole. No conductor was
identified in the hole to explain the airborne geophysical anomaly,
and so further evaluation of this area will await completion of the
ground geophysical work now underway.
Dr. George Gale, VP of Exploration, states: "Drill holes 3 and 4
form an effective cross section from unaltered into increasingly
altered rock. It is quite clear from these two holes, that there is
a large, complex VMS type alteration zone on the Puella Bay
property that is capable of having an associated VMS type
deposit."
After completion of the drill program, Company geologists
obtained geochemical analyses of samples of archived drill core
from historical holes drilled a kilometre or more from holes 3 and
4. Assays of intervals of exhalite (chemical sediment rock)
returned values as high as 1.4 g/t Au and 4.7 g/t Ag, as well as
anomalous amounts of copper. The previous drill logs for this core
did not report any Au or Ag values. Chemical sedimentary rocks,
such as these, are commonly associated with the formation of
copper-zinc-gold-silver massive sulphide deposits mined in the
belt. The geological information obtained in drill holes 3 and 4
and the study of historical drill core from the area, are important
elements in evaluating the stratigraphic position of the alteration
zone relative to the precious metal-bearing distal exhalite
layers.
The drill program is now being followed-up with a ground based
geophysical survey covering approximately 40 line kilometres over
an area roughly 1.3 km by 3.8 km, to test for deep conductors
within, and at the margins of, this large alteration zone. This
survey, in combination with the drill results and last year's
geological mapping, will greatly enhance our understanding of the
property geology, especially in areas dominated by water and swamp
with limited rock exposure.
As a result of the recent exploration work by Company
geologists, and the research of historical work in the area, the
Company has now staked an additional 25 claims to cover the
eastwards extension of the Puella Bay felsic strata and exhalite
layers. With the addition of the new claims, VMS Ventures' land
position in the area now covers a continuous 30 km length of this
prospective felsic volcanic unit and more than doubles our previous
coverage. Dr. George Gale states: "It is generally not possible to
acquire such large areas of prospective ground within a camp with
the success record of the Flin Flon-Snow Lake Belt. I believe it
shows just how much there is left to learn about this camp and
suggests that there are lots of opportunities to discover more
deposits similar to the recent Lalor and Reed Lake discoveries in
this belt."
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 of Exploration, 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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