VMS Reports Drilling Has Commenced at Its Super Zone Properties, Near Snow Lake, Manitoba
February 18 2010 - 6:30AM
Marketwired
VMS Ventures Inc. (TSX VENTURE: VMS) (the "Company") is pleased to
report that drilling of newly identified targets on its 100% owned,
Super Zone properties, is now underway. Drilling is anticipated to
continue into March with 7 distinct targets being tested (see
diagram linked here:
http://vmsventures.com/pdfs/Drill_Plan_20100217_letter_r1.pdf).
Drill roads were completed ahead of schedule, which allowed
drilling to start this past Saturday. The first hole, RN-10-04, has
been completed to a depth of 310 m, and the core is currently being
evaluated and sampled. The second hole, RN-10-05, targeting an
airborne geophysical survey (VTEM) anomaly, has been started, with
an anticipated hole length of 500 m. These holes are testing
targets in the Magoo Lake area, located approximately 1.5 km
northwest of the Discovery Zone. Five additional holes ranging in
depth between 325 m and 700 m are planned and will target VTEM,
DeepEM surface survey and Borehole Pulse EM geophysical survey
anomalies. Total drilling anticipated in this program is estimated
to be 3,000 m.
Drill Target Areas
Tower Zone
Drilling at the Tower Zone will target anomalies adjacent to
mineralized zones within favourable geological settings intersected
in the December, 2009 program. Hole RN-10-10 will target a large
conductive modeled plate near the recently completed drilling on
the Tower Zone, and is planned to be 700 m in length. Company
geologists have recognized the potential extension of the Discovery
Zone rhyolite in this area. This target will be drilled later in
the program, as it can be drilled from ground that is accessible
all year round.
Northeast Tower Zone
Deep penetrating ground geophysical surveys have identified new
conductive targets northeast and along strike of the Tower Zone
over a strike length of approximately 1 km. These are untested
anomalies and deeper than any previously drilled in the northeast
Tower area. Three holes, each testing a new anomaly, will be
drilled. Anomalies have been modeled below 300 m from surface. Hole
RN-10-09 will test the deepest target in the area and has a planned
length of 700 m.
Tower Zone drill holes RN-10-07 and RN-10-08 will test
geophysical conductors located in the vicinity of an historical
drill hole which reported multiple intervals of disseminated,
stringer and near solid to solid sulphide, with anomalous copper,
zinc and silver values in altered volcanic rock. Reprocessed
historical geophysical survey data, including bore hole survey
data, has been merged with VMS VTEM airborne survey data and more
recent ground deep EM survey results.
These three drill targets, located on mining claim P6805E, are
spatially associated with the Company's recent surface pulse
electromagnetic survey that outlined several highly conductive
plates directly associated with, or flanking, a magnetic
response.
Far East Zone
A VTEM anomaly with a coincident magnetic high defined on mining
claim P5643E will also be drilled. It is located approximately 2 km
east-northeast of the Phase 1 Tower Zone drilling area. This target
has a lateral extent of over 700 m and based on modeling of
electromagnetic data is suggestive of stacked conductive zones.
Historical drilling results in the area have reported strongly
altered volcanic rock and sulphide mineralization with anomalous
copper and zinc. The geological setting of these conductors is
interpreted to be very favorable for hosting base metal massive
sulphide-type deposits of the Flin Flon-Snow Lake belt.
Magoo Lake Zone
Drilling on mining claim P1019F will target two separate VTEM
anomalies near Magoo Lake. Historical work completed by Noranda
Exploration in this region outlined highly anomalous copper and
zinc values in a highly chlorite-altered volcanic host rock. This
geological setting is also favorable for the formation of base
metal massive sulphide mineralization and two holes are planned to
test the targets.
Vice President Exploration and Technical Services Mark Fedikow
states: "The drill program now underway is the second of several
planned programs for 2010. The Company expects to greatly
accelerate its exploration drilling activities in the Snow Lake
belt where it holds a vast track of prospective ground. Most of the
Company's properties in the camp are now ready for drill testing
following three years of executing various new technology surveys
and compiling and analyzing data, including historical work."
All technical information in this release has been reviewed by
Dr. Mark Fedikow, P.Geo, who is the Qualified Person for the
Company and Vice President of Exploration and Technical Services,
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 Nickel Belt project and the South Bay
nickel-copper-cobalt PGE 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
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts 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) www.vmsventures.com Coal Harbor Communications Dale
Paruk (604) 662-4505 or Toll Free: 1-877-345-3399
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