VMS Reports Results for Its Phase 1 Drill Program at the Tower Zone, Part of the Reed Lake Project, Near Snow Lake, Manitoba
February 26 2010 - 11:55AM
Marketwired
VMS Ventures Inc. (TSX VENTURE: VMS) (the "Company") is pleased to
report the results for the 4 holes drilled in phase one of the
drill program at its 100% owned Tower Zone. The second phase of
drilling is now underway. The Tower Zone property is part of the
Reed Lake project, in the Snow Lake - Flin Flon greenstone belt of
Manitoba.
Assay data from the Phase 1 Tower Zone diamond drill program has
been received and now integrated into the new and evolving
geological model. The results demonstrate strongly anomalous base
and precious metal mineralization occurs at a consistent and
well-defined stratigraphic interval. The contact between variably
altered, but primarily sericitized and sulphidized aphyric and
quartz-phyric rhyolite and chloritized mafic volcanic rocks, is the
preferred locus for the observed mineralization. Laminated to
brecciated and fine to medium-grained disseminated to near solid
pyrite-pyrrhotite-chalcopyrite-sphalerite-magnetite occur over core
intervals of less than 1 m at, or adjacent to, this contact.
This geological setting is very similar to the re-interpreted
stratigraphy at VMS Ventures Discovery Zone at Reed Lake, where
high-grade copper mineralization occurs at a rhyolite-basalt
contact. Intervals of up to 100.19 metres of 3.59% copper including
9.71 metres grading 17.79% copper (VMS news release October 1,
2008) have been intersected at the Reed Lake Discovery Zone. This
stratigraphic interval has been identified as a key exploration
target based on VTEM airborne and DEEPEM ground geophysical surveys
and soil geochemistry and has been traced for a distance of
approximately 4 km along strike. It is the current focus of
exploration.
The presence of sulphide mineralization at a break in volcanism
is a common theme for base metal massive sulphide type
mineralization in the Flin Flon-Snow Lake mining camp and in major
mining camps elsewhere.
Dr. Mark Fedikow, VP Exploration and Technical Services, states:
"Though the mineralization intersected is sub-economic in grade, it
is nonetheless enriched in copper, zinc, silver and gold as well as
a number of pathfinder elements that are characteristically
elevated in VMS type deposits of the Flin Flon-Snow Lake greenstone
belt. The occurrence of base and precious metal enriched sulphide
mineralization with accompanying hydrothermal alteration along this
prospective stratigraphy is evidence of an active mineralizing
system over 2 km from the Discovery Zone. The bulk of assays have
now been received and additional targets have been developed along
strike of this mineralization. These exploration targets will be
drill tested in the upcoming weeks."
The assays for Phase one drilling were undertaken at Activation
Laboratories in Ancaster Ontario, an ISO/IEC 17025 certified
laboratory. Multi-element geochemical analyses were determined with
a combination of ICP-MS and ICP-OES. Silicate whole rock analyses
were done by fusion-ICP and Au ad Ag by fire assay with gravimetric
finish.
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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