VMS Ventures Drills 13.41 Metres of 1.48 g/t Gold; Outlines Gold Mineralization on Its Sails Lake Project Near Snow Lake, Manito
June 08 2011 - 1:58PM
Marketwired
VMS Ventures Inc. (TSX VENTURE: VMS) ("VMS") is pleased to announce
that drilling of seven holes for a total of 1,594 metres on its
100% owned Sails Lake property is complete. This second Sails Lake
program focused on defining the Long Zone mineralization that was
announced on January 11, 2011 featuring drill hole SA-10-007, that
intersected 58.89 metres of 1.21 g/t Au.
(http://www.vmsventures.com/Newsroom/Press-Releases/Press-Release-Details/2011/VMS-Ventures-Reports-5889-Metres-of-121-gt-Gold-Including-989-Metres-of-513-gt-Gold-in-Diamond-Drill-Hole-SA-10-007-Sails-Lak/default.aspx)
The seven diamond drill holes targeted the Long Zone
mineralization over a strike length of 250 metres and to a depth of
150 metres below surface. Hole SA-11-015 returned 13.41 metres of
1.48 g/t Au, SA-11-013 returned 38.79 metres of 0.68 g/t Au, and
SA-11-014 returned 9.50 metres of 0.93 g/t Au. See assay table
below for details on additional drill holes.
Neil Richardson, VMS' Chief Operating Officer, states: "I am
pleased with the results from this phase of drilling on the Long
Zone. These results confirm our geological model and indicate that
a low grade gold system is associated with the Long Zone target.
The mineralization of the Long Zone consists of disseminated blebs,
specks and stringers of arsenopyrite within a feldspathic altered
tonalitic host rock. Trenching and geological mapping is scheduled
for the summer. Additional target zones with coincident
chargeability and resistivity anomalies will also be reviewed later
this summer."
This second drill program was based on follow-up of drill hole
SA-10-007 and the presence of a mineralized outcrop exposed in a
trench with coincident induced polarization chargeability anomaly
and strongly elevated Mobile Metal Ions soil geochemical anomalies.
A follow-up 3D IP survey was completed in March and the initial
pseudo-sections of chargeability and resistivity were
georeferrenced into Gemcom for planning purposes. Holes were fan
drilled from three set-ups to cover the prospective area along 250
metres of strike and to a depth of 150 metres. There are several
additional surface gold showings on the property which will be
examined in greater detail as a result of the drilling success at
the Long Zone.
Sails Lake Assay Data - Long Zone (uncut)
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HOLE-ID FROM TO LENGTH AU g/t COMMENTS
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SA-11-015 98.59 112.00 13.41 1.48
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SA-11-013 73.21 112.00 38.79 0.68
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SA-11-013 73.21 81.00 7.79 1.68 including
-------------------------------------------------------------------------
SA-11-013 85.72 89.80 4.08 1.02 including
-------------------------------------------------------------------------
SA-11-013 96.87 100.84 3.97 0.75 including
-------------------------------------------------------------------------
SA-11-013 105.90 112.00 6.10 0.85 including
-------------------------------------------------------------------------
-------------------------------------------------------------------------
SA-11-014 125.15 134.65 9.50 0.93
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SA-11-014 146.00 148.33 2.33 2.05
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SA-11-014 173.14 174.87 1.73 0.86
-------------------------------------------------------------------------
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SA-11-010 29.90 31.50 1.60 1.13
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SA-11-010 165.00 165.81 0.81 1.10
-------------------------------------------------------------------------
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SA-11-011 53.78 56.34 2.56 2.58
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SA-11-016 35.56 36.00 0.44 2.02
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SA-11-012 No Significant Assays
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SA-11-017 No Significant Assays
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True widths unknown
Sails Lake Collar Information
--------------------------------------------------------------------------
UTM UTM UTM
Easting Northing Elevation Azimuth
HOLE Number (1) (1) (1) LENGTH (2) Dip
--------------------------------------------------------------------------
SA-11-010 466357 6083781 293 224 146 -50
--------------------------------------------------------------------------
SA-11-011 466357 6083781 293 233 175 -50
--------------------------------------------------------------------------
SA-11-012 466357 6083781 293 263 180 -45
--------------------------------------------------------------------------
SA-11-013 466421 6083775 296 182 180 -50
--------------------------------------------------------------------------
SA-11-014 466421 6083775 296 209 180 -70
--------------------------------------------------------------------------
SA-11-015 466421 6083775 296 182 155 -45
--------------------------------------------------------------------------
SA-11-016 466421 6083775 296 209 133 -45
--------------------------------------------------------------------------
SA-11-017 466274 6083803 288 92 180 -45
--------------------------------------------------------------------------
(1) Universal Transverse Mercator / North American Datum 1983 / Zone 14
(2) "Azimuth" is degrees from True North
The Sails Lake property is located 25 km east of the mining
community of Snow Lake, Manitoba and consists of 8 claim blocks
covering an area of approximately 1900 hectares. Seven (7) diamond
drill holes were completed for a total of 1,594 metres in this
second phase of drilling. Additional follow-up work on this project
is scheduled for July with mechanical trenching, prospecting and
additional geochemistry.
This program is independent of the drill program, and other
activities at the Reed Lake deposit, operated by HudBay Minerals
Inc. (TSX: HBM) under a Joint Venture agreement announced July 6,
2010.
For additional details on exploration on our Sails Lake
property, see VMS' press releases issued between January 24, 2007
and October 6, 2010, available at www.vmsventures.com.
Qualified Person
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.
Quality Assurance and Quality Control
Exploration core drilling was BTW size. The core was logged and
mineralized intersections were marked for sampling and assaying by
geologists and geotechnicians employed by VMS Ventures Inc. The
marked intersections or intervals were sawn in half by a diamond
saw and one half of the core was placed in plastic bags and tagged
with unique sample numbers, while the second half was returned to
the core box and stored. Chemical analyses reported in this press
release were performed by TSL Laboratories in Saskatoon. Gold was
analyzed by fire assay Atomic Absorption using a 30g charge, with
gravimetric finish for assays greater than 3 g/t. Sampling and
analytical procedures are subject to a comprehensive Quality
Assurance and Quality Control program that includes duplicate
samples, blanks and analytical standards.
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.
Forward Looking Statement
Some of the statements contained herein may be forward-looking
statements which involve known and unknown risks and uncertainties.
Without limitation, statements regarding potential mineralization
and resources, exploration results, and future plans and objectives
of the Company are forward-looking statements that involve various
risks. The following are important factors that could cause the
Company's actual results to differ materially from those expressed
or implied by such forward-looking statements: changes in the world
wide price of mineral commodities, general market conditions, risks
inherent in mineral exploration, risks associated with development,
construction and mining operations, the uncertainty of future
profitability and the uncertainty of access to additional capital.
There can be no assurance that forward-looking statements will
prove to be accurate as actual results and future events may differ
materially from those anticipated in such statements. VMS Ventures
Inc. undertakes no obligation to update such forward-looking
statements if circumstances or management's estimates or opinions
should change. The reader is cautioned not to place undue reliance
on such forward-looking statements.
ON BEHALF OF THE BOARD OF DIRECTORS
John Roozendaal, President, 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 (613) 882-7467 Launch
IR Dean Hanisch (613) 882-7467
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