VMS Ventures Initiates Line Cutting and Ground Geophysical Surveys Ahead of a Spring Drill Program at Its 100% Owned Copper Proj
March 25 2010 - 6:30AM
Marketwired
VMS Ventures Inc. (TSX VENTURE: VMS) (the "Company") is pleased to
report that its 100% owned Copper Project will be the focus of the
Company's next drill program, expected to begin before the end of
April, 2010. As well, the Company, with the signing of the Letter
of Intent (LOI) with HudBay Minerals (TSX: HBM) as announced March
4, 2010, has halted its phase 2 drill program at the Tower Zone.
The LOI with HudBay contemplates the optioning of certain
exploration properties in the Reed Lake area and, so, VMS has
stopped exploration on those properties during final negotiations.
Copper Project
The Company is now conducting line cutting and ground
geophysical surveys of selected target areas on its 100% owned
Copper project, in preparation for drill testing. The Company
anticipates the next drill program will commence following spring
break-up. More details on targeting, and related maps and images,
will be made available ahead of drilling commencing.
The Copper project is a 30 km trend with several known base
metal massive sulphide-type deposits identified by historic
drilling, but without previous production. The project is believed
to be highly prospective for the discovery of additional base metal
mineralization at relatively shallow depths. Traditional
exploration in the area has been frustrated by a thin cover of
younger carbonate rocks which conceal the Flin Flon - Snow Lake
greenstone belt and its contained mineralization.
VMS' exploration of the property over the past three years has
resulted in the identification of a large number of airborne EM and
magnetic geophysical anomalies across the 30 km length of the
property. The Company's work has focused on reducing the numerous
targets to several higher priority areas based on integrated
geophysics and soil geochemistry.
The Copper Project is located approximately 45 km by paved
highway east of the Company's Reed Lake discovery. It is 30 km
southeast of the mining community of Snow Lake, where HudBay
Minerals operates a mill and concentrator and where the development
and exploration of the Lalor Lake zinc-copper-gold-silver deposit
is ongoing. Access to the northern end of the property package is
via a paved highway.
All technical information in this release has been reviewed by
Dr. Mark Fedikow, P.Geo. the Qualified Person, Vice President of
Exploration and Technical Services and Director of 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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