VMS Ventures Inc. (TSX VENTURE: VMS) (the "Company") is pleased to
announce its exploration plans for the coming year, through the
winter drilling season ending in March, 2010.
VMS Ventures' property portfolio in the Flin Flon-Snow Lake VMS
belt is extensive and covers a range of exploration projects at
various stages of development. The Company's holdings cover an area
totaling approximately 400 square kilometers (or 100,000 acres).
VMS is well financed, with over $13,000,000 in its treasury.
President, John Roozendaal states: "The ongoing challenge for
our geological team is to plan and execute a multi-layered program
that moves each of our 12 projects forward toward well defined
drill targets in a comprehensive and cost effective fashion. Our
exploration team met in Winnipeg last month to review and update
our property priorities and finalize plans for the 2009 summer
season. We also envisioned exploration and drill programs through
next winter's drilling season and beyond. This release is designed
to begin the process of informing our shareholders, and the
investment community, of our exploration methodology and the
specific, updated exploration plans for six priority projects
outside of our Reed Lake discovery."
Exploration methodology
VMS employs a structured and systematic exploration approach to
each of its properties from acquisition through to drilling.
Following acquisition, a series of activities including the
compilation and analysis of historical work, VTEM airborne
geophysical surveying, and the identification of anomalies for
reconnaissance geochemical sampling to test for an associated metal
anomaly is undertaken. Secondary steps may include a more detailed
geochemical survey grid over the object area and selected ground
geophysical survey(s) taken to more precisely define the targets
for drill testing. This approach enables the Company's geologists
to identify 'exploration objects' for detailed re-evaluation before
drilling.
Airborne Geophysics
In 2007 and 2008, the Company commissioned extensive, airborne
geophysical surveys using the state of the art Versatile Time
Domain Electromagnetic (VTEM) system. The Company invested
approximately $3 million dollars in VTEM and flew approximately 90%
of the total VMS property package in Manitoba. This investment has
returned several thousand prospective anomalies to be followed up
over the next 3 years. This exploration tool is uniquely suited to
detection of conductive metallic bodies beneath cover rock and
overburden. This includes a large dolomite covered portion of the
Flin Flon-Snow Lake VMS belt. Previous explorers worked with survey
equipment that had trouble penetrating this dolomite cover and,
therefore, few deposits have been discovered in the large, southern
portion of the mineral belt.
Dr. George Gale, VP Exploration states: "VTEM technology has
allowed us to see through the thick dolomite and produce many
promising anomalies. The Reed Lake discovery was made largely as a
result of the 2007 VTEM survey. The Reed Lake deposit is completely
blind with 25 meters of dolomite cover concealing the rocks."
VMS Ventures' primary VTEM geophysical consultant is Lakewood,
Colorado based Condor Consulting Inc. Condor is a world-leader in
the processing and assessment of airborne EM data, and have been
working with VTEM data since 2002. Condor's president Ken Witherly
is very familiar with the Flin Flon-Snow Lake VMS belt and is
working with the Company on its VTEM package. He states: "VMS has a
first class approach to exploration in the Flin-Flon-Snow Lake belt
that builds on the excellent quality of their VTEM data with
cutting edge geochemical techniques and a wealth of local
geological experience."
Historical compilation and analysis
VMS Vice President, Dr. George Gale has 35 years of experience
with Volcanogenic Massive Sulphide (VMS) deposits, primarily in
Manitoba, and VMS Director of Technical Operations, Dr. Mark
Fedikow has 25 years of experience with mineral exploration and
geochemical exploration techniques in locations around the globe.
Dr. Ron Scott, Exploration Manager in Snow Lake and President, John
Roozendaal, complete the core technical team. George and Mark bring
tremendous knowledge and understanding of Manitoba's mineral
endowment and have visited and studied most of the significant
occurrences and deposits in the province. Obviously, their
familiarity with Manitoba's mineral resources has impacted the
Company's property package selections for the past four years, but
it also has a tremendous impact on the greatest challenge, which is
narrowing the choices for drill targets within this large property
package.
Dr. Gale's strategy of testing historical drill core for trace
elements has been very helpful in determining the validity of
anomalies, particularly on the properties that are dolomite covered
and do not have outcropping rocks. This strategy has already paid
dividends during this past year with the recognition of a new
occurrence of gold and silver on the Puella Bay property, which
helped guide the Company's most recent drill program and resulted
in the acquisition of 25 new claims (approximately 60 square
kilometres) within the Puella Bay felsic unit last month.
Geological mapping
The foundation of a sound approach to any mineral exploration
program is geological mapping and it is a key component in the
Company's exploration approach to massive sulphide type
mineralization. On properties where the prospective volcanic rocks
are buried beneath the layer of dolomite, particular attention is
paid to the re-assessment of core from both historic and recent
drill programs. Geological and geochemical observations are made on
these underlying prospective volcanic rocks. In areas where
dolomite cover is absent, geological mapping crews are able to
assess the geological architecture of the property, which provides
a focus for follow-up with appropriate ground surveys.
The 2009 summer plan will include a three month geological
mapping program involving two geologists and a geological
assistant. The mapping will focus on the new Puella Bay claims and
the Sails Lake and Morton Lake properties. These are areas with
abundant felsic volcanic rocks and alteration that is typically
associated with VMS type copper-zinc deposits. The objective of the
mapping programs is to provide detailed base maps for evaluation of
geophysical datasets and to guide rock and soil geochemical
surveys.
Geochemistry
Dr. Mark Fedikow has extensive knowledge and field experience
with a wide range of today's geochemical exploration techniques. He
is a regular speaker on the topic at conferences all over the
world. The use of geochemical survey methods is important to
confirm assumptions from VTEM and geologic mapping programs where
rocks outcrop, but it is an essential part of the VMS strategy to
hunt for deposits hidden by the dolomite cover. VMS has been
aggressive in acquiring properties within the dolomite covered
areas where the same volcanic rocks that host copper-zinc deposits
exist, in large part, because of the team's geochemical expertise.
Dr. Fedikow is presently designing a 2009 summer geochemistry
program for six of the Company's projects. Details will be
announced shortly.
Ground Geophysical Surveys
Following the discovery of mineralization on the Reed Lake
property in 2007, the Company used various ground geophysical
systems to determine the most effective methods to better
understand the discovery, but also to examine critical
characteristics of mineralized zones for future exploration. The
Discovery Zone mineralization was detected by all systems at
shallow depths. Deeper portions of the deposit were identified
using IP, DEEPEM, and borehole geophysical surveys and these
systems are considered valuable in our search for new
mineralization to depths below 450 m.
The DEEPEM system used on the property is the same technology
that resulted in detection of the Lalor zinc-gold-silver deposit
discovered at a depth of approximately 800 m near Snow Lake by
HudBay Minerals in 2007. Both IP and DEEPEM systems can be
configured for surveys at depths of 400 m or less, so that initial
drill costs can be reduced by testing anomalies closer to
surface.
John Roozendaal, President of VMS Ventures states: "The IP,
DEEPEM and borehole geophysical surveys at Reed Lake combined with
the geological knowledge obtained from drill core, have been
critical in our analysis and interpretation for tracking deep
mineralization associated with the Discovery Zone and defining new,
previously unrecognized deep anomalies classified as high-priority.
Our ground geophysical contractors, Koop Geophysics and Matrix
Geotechnologies are very experienced in the belt and provide
specific guidance in drill target selection. We are now taking the
knowledge and experience acquired at Reed Lake to our planning for
Puella Bay, Sails Lake and Copper projects this year."
Exploration Objects
Selected portions of the property package that have exhibited
several characteristics of a VMS-type mineral deposit, such as
associated conductors, magnetic signatures, and multi-element
geochemical signatures are then defined as exploration objects.
These much smaller object areas will vary in length from a few
hundred metres to over a kilometre, and are then re-examined using
more detailed geochemical surveys to further define areas of
anomalous metal concentrations or they may be followed by ground
geophysics to define the depth and orientation of the mineralized
zone. Condor geophysical consultants are often brought in at this
final data synthesis stage to assist in drill targeting.
Drilling Priorities for 2009
The Company has identified Sails Lake, the northern section of
the Copper project and the Tower Zone at Reed Lake as high
priorities for drilling this year. Final plans and announcements on
these drill programs will come at the completion of the data
synthesis work on the various exploration objects now identified on
these properties.
Summary
In the coming 10 months, VMS will focus on advancing six
projects towards defining discrete exploration objects. Those
projects are 1) Sails Lake; 2) Puella Bay; 3) Copper; 4) McClarty
Lake; 5) Leek Lake; and 6) 9-7. Each property will be the subject
of a news release in the coming weeks.
The Reed Lake property, including the Tower Zone, continues to
be the Company's top priority and will be discussed separately, as
events proceed.
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
Rick Mark, CEO and Chair
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) Coal Harbor Communications Dale Paruk (604) 662-4505
or Toll Free: 1-877-345-3399 www.vmsventures.com
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