VMS Ventures Inc. (TSX VENTURE: VMS) (the "Company") reports that
the first round of drilling at the Copper project has been
completed and that no significant economic mineralization was
intercepted in the 5 holes drilled. All geophysical targets were
explained by the drill program which intersected thick sections of
conductive graphite-rich sedimentary rock units. The area of the
first drill program is roughly 2 km by 3 km, and is a small portion
of the 35 km by 11 km Copper Project.
This first drill program focused on targets that occur on the
northeast section of the property in a geological environment
dominated by chemical and clastic sedimentary rocks. In the Snow
Lake area these rocks host zinc-rich base metal massive
sulphide-type deposits, but are not the typical volcanic host rocks
to the copper-zinc deposits mined in the Flin Flon - Snow Lake
camp.
Dr. Mark Fedikow, VP Exploration states: "Although the
geophysical conductors identified in airborne surveys were
explained, none of the targets were mineralized or significantly
altered as would be expected in a volcanogenic base metal massive
sulphide-type mineralizing system."
One of the results of this initial drill program is that the
Company has converted one of its Mineral Exploration Licenses
within the project to claims covering untested geophysical
anomalies located to the south of the recent drilling. This will
reduce the holding cost of the land and allow previous work
expenditures to be applied as assessment credits to the new claims.
The Copper project is one of the largest land positions held by the
Company in the Flin Flon - Snow Lake greenstone belt and with the
conversion of this MEL to claims the land size is reduced by
approximately 12% of its total area.
UPCOMING EXPLORATION
This summer and fall VMS exploration programs will focus on
areas underlain by volcanic rocks that occur beneath the younger
Paleozoic dolomite cover. These volcanic rocks typically host the
base metal deposits being targeted. Company geologists are
reviewing historical drill hole data for evidence in drill hole
geology to compliment geophysical and geochemical survey
information used to detect buried mineralization.
The Company has several exploration programs planned. These
include drilling, prospecting, geochemical survey sampling and
ground truthing of prospective airborne geophysical targets.
Sails Lake
Airborne VTEM geophysical anomalies have been detected on the
property. These anomalies are associated with known mineralization
and host rocks typically associated with base metal massive
sulphide-type deposits in the area. A number of these anomalies
have coincident Mobile Metal Ion soil geochemical anomalies with
them and as such will be the prime focus of drill testing in the
upcoming program.
Plate modeling of airborne geophysical anomalies is complete and
preliminary drill targets are defined. Historical results report
both precious and base metal mineralization on the property.
Precious metal results of surface gold samples in prospecting
trenches report grab samples grading as high as 64.29 g/t Au and
14.52 g/t Au. Targets indicative of gold mineralization such as
fault-shear zone, or fold structures, alteration and soil
geochemical signatures are still being evaluated.
Base metal occurrences in surface and drill core samples of
copper-zinc mineralization include an intercept of 0.55m grading
7.2% Zn, 0.12% Cu, 10.54 g/t Ag and 0.34 g/t Au in a drill hole
adjacent to one of the conductors planned for drill testing this
summer, and elevated zinc values in stringer sulphide
mineralization elsewhere on the same conductor.
Geologists are in the field through the first part of this
summer, to re-examine the host rocks as to base and precious metal
targets developed from the compilation of historical data. Several
base metal targets are near final stages in their evaluation. The
gold targets present a more difficult challenge as this type of
mineralization does not readily show itself in geophysical surveys
and the property has only limited rock exposure on which to
prospect this type of mineralization. Geologists will be looking
closely at the soil geochemical survey results and their
association with known gold occurrences on the property to assist
in locating gold mineralization buried under soil overburden.
Drilling at Sails Lake is expected in August, pending approval
of permits.
The Sails Lake property is located approximately 10 km east of
the past-producing Osborne Lake copper-zinc-gold-silver deposit and
approximately 30 km east of the mining community of Snow Lake.
Morton Lake
A program consisting of ground truthing airborne geophysical
targets and detailed mapping of mineralized trenches and favorable
host rocks to base metal mineralization will be undertaken at the
Morton Lake property. Mobile Metal Ion soil geochemical surveys
will also be conducted over buried geophysical targets.
The property is underlain by felsic and mafic volcanic rocks
that are similar in tectonic environment and chemistry to the host
rocks for the past-producing Dickstone copper-zinc deposit.
The Company has recently added to its land position to the east
and south of the original Morton Lake claims and now has a land
position roughly 20 km in length covering mafic and felsic volcanic
rocks similar to the rocks that host the Reed Lake Discovery
Zone.
Leak Lake
Airborne VTEM anomalies have been identified on the property and
subsequent Mobile Metal Ion geochemical surveys completed over
these conductors. The results of the two surveys are being merged
to evaluate the targets for possible drill testing.
Puella East
Airborne VTEM surveys have been completed and anomalous
responses analyzed by Condor Geophysics of Denver, Colorado. The
area is mostly covered by swamp and overburden which precludes
detailed geologic mapping. The property was mapped in 2009 on a
reconnaissance scale and geophysical anomalies placed into their
geologic context, where possible. A winter Mobile Metal Ion survey
will assess these conductors in terms of metal content in
preparation for diamond drill testing.
Farwell Lake
Like the Puella East project, the Farwell Lake project area is
overlain by wet organic overburden and post-volcanic dolomite
cover. Airborne VTEM anomalies have been identified and Mobile
Metal Ions surveys recently completed. Samples have been submitted
for analysis and results will be integrated with geophysics and
historic geologic observations from previous exploration programs.
Drill targets will be assigned on the basis of these integrated
datasets.
The company is also announcing the resignation of Mr. Bill
McWilliam as a Director of VMS Ventures Inc. VMS would like to
thank Mr. McWilliam for his services over the past 3 years and wish
him well in his future endeavors. Mr. Donald Whalen will be taking
Mr. McWilliam's place on the Board of Directors and will sit as an
independent director and act as Chair of the Audit Committee.
Mr. Whalen graduated with a Bachelor of Commerce Degree from the
University of Toronto in 1964 and is currently a self-employed
consultant. He was Executive Vice-President of High River Gold
Mines Ltd. from September to December 2008; prior thereto, Mr.
Whalen had been Executive Chairman and Director of High River since
June 1992. Before joining High River, he held numerous marketing,
technical and management positions over a 29 year career with IBM
Canada Ltd. In addition, Mr. Whalen has been active in promoting
Canadian-Russian business investment and trade relations and, until
2008, held the position of Chairman of the Canada Eurasia Russia
Business Association (CERBA) and was Co-Chairman of the Canada
Russia Business Council. Mr. Whalen is also Director and Chairman
of the Audit Committee for Pancontinental Uranium Corporation and
Roscan Minerals Corporation.
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. is focused primarily on acquiring, exploring
and developing copper-zinc-gold-silver massive sulphide deposits in
the Flin Flon-Snow Lake VMS Belt of Manitoba. The Company's VMS
project property portfolio consists of the Reed Lake Project,
Copper Project, McClarty Lake Project, Sails Lake Project, Puella
Bay Project and Morton Lake Project. Outside of the Snow Lake camp,
the Company holds massive sulphide prospective properties near the
past producing Fox Lake and Ruttan copper-zinc mines, near the
communities of Lynn Lake and Leaf Rapids in northern Manitoba. 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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