VMS Updates Progress With Ongoing Exploration Programs on Its 100% Owned Flin Flon-Snow Lake Greenstone Belt Properties, Manitob
March 22 2011 - 6:30AM
Marketwired
VMS Ventures Inc. (TSX VENTURE: VMS) ("VMS") is pleased to update
its shareholders on the Company's ongoing exploration programs at
its extensive 100% held property package in the Flin Flon - Snow
Lake Greenstone Belt, Manitoba, Canada.
VMS EXPLORATION PROPERTIES
Copper Project
Drill testing of target anomalies scheduled for initial drilling
in winter 2011 is now complete. A total of 2,560 metres were
drilled in 7 holes on the Company's Copper project located
approximately 30 km south of the mining community of Snow Lake,
Manitoba. Drill core samples have been sent for base and precious
metal assays with results expected in a few weeks.
Cowan River
The drill is now on the Cowan River project located 45
kilometres southeast of the town of Snow Lake and 8 kilometres east
of Reed Lake JV/Option Property currently being explored by partner
HudBay Minerals Inc. (TSX: HBM)(NYSE: HBM). VMS Ventures plans to
drill three targets on this MEL based primarily on VTEM airborne
geophysical anomalies with positive conductivity and associated
magnetic signatures typical of all the base metal mines in the Snow
Lake Greenstone Belt.
Morton Lake
The Morton Lake project is located 25 km west of Snow Lake and
within 500 metres of the past-producing Dickstone copper-zinc
deposit. A deep-penetrating, ground based Time Domain
Electromagnetic geophysical survey was completed by Koop
Geotechnical Inc. during the first quarter of 2011. The 54 line
kilometre survey assessed a long portion of favourable stratigraphy
that hosted the nearby Dickstone copper-zinc deposit. Geotech Ltd.
completed 340 line kilometres "Versatile Time Domain
Electromagnetic" (VTEM - plus) airborne survey over the southern
claim blocks. Upon review of the anomalies, a Mobile Metal Ion soil
geochemistry survey will be completed and integrated into the drill
targeting process.
Farwell
The Farwell project surrounds the McClarty Lake project of
Troymet Exploration Corporation who announced a discovery on May
15, 2008 returning 1.47% zinc and 0.31% copper over 43.05 metres,
including 3.46% zinc over 15.3 metres. Geotech Ltd. completed 3,581
line kilometres of (VTEM - plus) over the project in preparation of
follow-up geochemical survey "Mobile Metal Ion" (MMI) and diamond
drilling. VMS will determine its exploration strategy after
Troymet's drilling is completed and announced.
Sails Lake
On January 11th 2011, the Company announced a gold discovery at
its Sails Lake project featuring an intercept of 56.89 metres
(186.65 feet) grading 1.21 grams/tonne gold. The mineralized zone
occurs within 40 metres of surface.
A follow-up program of line-cutting and Induced Polarization
(IP) geophysical surveys is now underway. Follow-up diamond
drilling is proposed upon completion of the IP survey. Detailed
geological mapping, prospecting for additional outcropping
mineralization and Mobile Metal Ion geochemical soil sampling are
planned for the spring/summer.
In 2011 approximately 12,000 metres of diamond drilling is
planned for new base metal and gold targets throughout the Snow
Lake property package.
About 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.
These properties are located in the mining friendly province of
Manitoba, Canada. The Company also has optioned three properties in
the Sudbury mining camp. They are Terra Incognita, Golden Pine and
Black Creek.
ON BEHALF OF THE BOARD OF DIRECTORS
Rick Mark, CEO VMS Ventures Inc.
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
www.vmsventures.com Launch IR Matt Harrington or Dean Hanisch (613)
882-7467
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