VMS Ventures Inc. (TSX VENTURE: VMS) ("VMS") is pleased to announce
follow-up results from the new copper zone discovery "Reed North"
on its Super Zone property located 1.8 kilometres northeast of the
Reed Copper deposit. The Super Zone is part of a parcel of four
property packages adjacent to the Reed Copper deposit which are
under option to HudBay Minerals Inc. (TSX: HBM)(NYSE: HBM)
("HudBay"). Reed North was previously referred to as the Super Zone
Discovery.
HIGHLIGHTS
-- Hole RLE021 Intersects 3.95 m of 9.31% Cu, 1.87% Zn, 3.59 g/t Au, and
35.53 g/t Ag
-- Hole RLE022 Intersects 4.15 m of 2.16% Cu, 0.18% Zn, 0.71 g/t Au, and
8.01 g/t Ag
Neil Richardson, VMS' Chief Operating Officer states: "The
drilling results and the follow-up borehole pulse electromagnetic
surveys on the Reed North discovery support our interpretation that
this is a highly prospective area. The mineralization is at, and
around, bimodal volcanism. This is especially encouraging as it is
the setting in which the larger deposits tend to be located, in VMS
camps around the world."
The bimodal volcanism and the strong alteration over a large
area suggest a large hydrothermal mineralizing system. HudBay has
now drilled twelve (12) holes, for a total of 3,591 metres, on this
discovery. Two mineralized horizons have been recognized and a
possible third, a deeper target, has been identified by deep
penetrating geophysical surveys over the area. Drilling will
continue to focus on this area where the geophysical anomaly
associated with the mineralization has been traced for more than 1
kilometre. The mineralization seen to date is semi-massive to
stringer (remobilized) type sulphides. Variable amounts of
pyrrhotite and chalcopyrite occur, with lesser amounts of
sphalerite and magnetite.
PREVIOUSLY RELEASED SUPERZONE HIGHLIGHTS
-- Hole RLE004 Intersects 0.34 m of 5.41% Cu, 0.27% Zn, 1.58 g/t Au, and
7.57 g/t Ag (May 17, 2011)
-- Hole RLE006 Intersects 7.18 m of 7.44% Cu, 0.23% Zn, 0.48 g/t Au, and
7.57 g/t Ag and 44.9 m of 0.79% Cu, 0.39% Zn, 0.16 g/t Au and 1.58 g/t
Ag (May 17, 2011)
-- Hole RLE007 Intersects 2.23 m of 5.94% Cu, 0.27% Zn, 0.40 g/t Au and
5.50 g/t Ag and 24.70 m of 0.21% Cu, 1.18% Zn, 0.08 g/t Au and 0.79 g/t
Ag (August 9, 2011)
To view "Figure 1. VTEM EM Anomalies" and "Figure 2. VTEM
Anomalies with Magnetic Tilt" accompanying this press release,
please click on the following link:
http://media3.marketwire.com/docs/vms929i.pdf
DRILL SUMMARY FOR THE HUDBAY JV AND OPTIONED PROPERTY PACKAGES: MARCH
THROUGH SEPTEMBER, 2011
-- Reed Lake joint venture: two holes were completed for a total of 724
metres,
-- Super Zone option: nine holes were completed for a total of 2,482
metres,
-- Tower Zone option: one hole for a total of 1,082 metres,
-- Northwest option: three holes completed for a total of 820 metres and
-- Northeast option: one hole for a total of 349 metres.
HudBay has the right to earn a 70% joint venture interest in the
option properties. One drill will continue to explore the option
properties concentrating on the Reed North discovery zone until
winter freeze up.
OPTION PROPERTIES ASSAY DATA
---------------------------------------------------------------------------
Hole From To Length Cu Zn Au Ag
Number (m) (m) (m) % % (g/t) (g/t)
---------------------------------------------------------------------------
RLE011 No Significant Assays
---------------------------------------------------------------------------
---------------------------------------------------------------------------
RLE012 184.80 193.55 8.75 0.07 0.21 0.00 0.74
---------------------------------------------------------------------------
---------------------------------------------------------------------------
RLE013 No Significant Assays
---------------------------------------------------------------------------
---------------------------------------------------------------------------
751.06 753.85 2.79 0.03 2.58 0.05 1.44
RLE014 -----------------------------------------------------------------
757.92 761.38 3.46 0.38 1.20 0.21 4.26
---------------------------------------------------------------------------
---------------------------------------------------------------------------
67.00 73.00 6.00 0.03 0.99 0.00 0.11
-----------------------------------------------------------------
RLE015 156.73 158.83 2.10 0.13 0.48 0.00 1.95
-----------------------------------------------------------------
166.66 169.51 2.85 0.08 0.36 0.00 1.46
---------------------------------------------------------------------------
---------------------------------------------------------------------------
RLE016 182.73 193.07 10.34 0.12 0.24 0.01 1.76
---------------------------------------------------------------------------
---------------------------------------------------------------------------
RLE017 No Significant Assays
---------------------------------------------------------------------------
---------------------------------------------------------------------------
RLE018 Hole Abandoned - Rods Stuck
---------------------------------------------------------------------------
---------------------------------------------------------------------------
RLE019 No Significant Assays
---------------------------------------------------------------------------
---------------------------------------------------------------------------
199.19 203.70 4.51 0.07 0.63 N/A 2.00
RLE020 -----------------------------------------------------------------
235.52 237.96 2.44 0.67 0.02 N/A 2.86
---------------------------------------------------------------------------
---------------------------------------------------------------------------
RLE021 139.15 143.10 3.95 9.31 1.87 3.59 35.53
---------------------------------------------------------------------------
---------------------------------------------------------------------------
RLE022 130.54 134.69 4.15 2.16 0.18 0.71 8.01
---------------------------------------------------------------------------
---------------------------------------------------------------------------
RLE023 No Significant Assays
---------------------------------------------------------------------------
---------------------------------------------------------------------------
RLE024 Assays Pending
---------------------------------------------------------------------------
---------------------------------------------------------------------------
RLE025 147.00 166.13 19.13 1.42 1.10 0.68 6.71
---------------------------------------------------------------------------
---------------------------------------------------------------------------
RLE026 Assays Pending
---------------------------------------------------------------------------
True widths unknown
---------------------------------------------------------------------------
OPTION PROPERTIES COLLAR INFORMATION
---------------------------------------------------------------------------
UTM
Hole UTM East UTM North Elevation Azimuth Length
Number (1) (1) (1) (2) Dip (metres)
---------------------------------------------------------------------------
RLE011 389600 6050535 295 180 -50 218.00
---------------------------------------------------------------------------
RLE012 395030 6049955 295 8 -50 392.00
---------------------------------------------------------------------------
RLE013 390850 6048790 290 180 -55 349.00
---------------------------------------------------------------------------
RLE014 395075 6048460 295 180 -60 1082.00
---------------------------------------------------------------------------
RLE015 394588 6049754 290 149 -60 356.00
---------------------------------------------------------------------------
RLE016 394189 6050204 290 360 -60 299.00
---------------------------------------------------------------------------
RLE017 392300 6051345 290 360 -60 198.00
---------------------------------------------------------------------------
RLE018 394900 6050300 290 350 -55 128.00
---------------------------------------------------------------------------
RLE019 394899 6050300 290 350 -55 503.00
---------------------------------------------------------------------------
RLE020 390866 6050783 290 200 -67 404.00
---------------------------------------------------------------------------
RLE021 394920 6050525 290 335 -60 290.00
---------------------------------------------------------------------------
RLE022 394920 6050525 290 335 -50 198.00
---------------------------------------------------------------------------
RLE023 394920 6050525 290 335 -70 317.00
---------------------------------------------------------------------------
RLE024 394920 6050525 290 10 -60 248.00
---------------------------------------------------------------------------
RLE025 394920 6050525 290 355 -65 296.00
---------------------------------------------------------------------------
RLE026 394920 6050525 290 310 -50 203.00
---------------------------------------------------------------------------
(1) Universal Transverse Mercator / North American Datum 1983 / Zone 14
(2) "Azimuth" is degrees from True North
REED COPPER DEPOSIT JOINT VENTURE UPDATE
A preliminary economic assessment and technical activities
required for permitting, including metallurgical and geotechnical
testing and mine design, are underway with the expectation of a
construction decision by year-end.
On July 6, 2010 VMS and HudBay announced they had entered into a
joint venture agreement in which HudBay and VMS have 70% and 30%
interests, respectively, in the Reed Copper deposit and two claims
immediately south of the deposit. The parties have also entered
into four option agreements which grant HudBay the right to earn a
70% interest in properties held by VMS and adjacent to the Reed
Copper deposit property.
For additional details on the Reed Copper deposit, see VMS' NI
43-101 compliant technical report entitled "Technical Report Reed
Deposit, Central Manitoba, Canada" dated March 31, 2011, available
at www.sedar.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 NQ size. The core was logged and
mineralized intersections were marked for sampling and assaying by
geologists and geotechnicians employed by HudBay's Hudson Bay
Exploration and Development Company Limited (HBED) subsidiary. 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. Each bagged core sample was transported to
HudBay's Hudson Bay Mining and Smelting Co., Limited (HBMS)
subsidiary's assay laboratory in Flin Flon, Manitoba where it was
dried, crushed and pulverized and a 250-gram sample was prepared
for assaying at Acme Analytical Laboratories Ltd., an independent
company in Vancouver, B.C., or the HBMS assay laboratory. From each
250 gram sample 0.25 grams was removed and leached in aqua regia
and analyzed by ICP-AES for Ag, Cu, Zn, As, Pb, Ni and Fe. Also
from the 250 gram sample, 30 grams were removed for gold
determination by fire assaying with an ICP-AES or gravimetric
finish at the Acme laboratory or an Atomic Absorption or
gravimetric finish at the HBMS laboratory.
Assaying integrity is monitored internally with a quality
control program, which includes the use of assay sample standards,
blanks, duplicates and repeats and externally through national and
international programs. In addition, within each group of 20 core
samples, one core sample has a second 250 gram split collected that
was check assayed at a different laboratory, either the HBMS
laboratory in Flin Flon or at the Acme laboratory in Vancouver,
B.C. This news release provides core lengths and estimates of
vertical thickness only. True widths are not provided. Where metal
assays are provided for intersections they are either a single
assay of a sample of the entire intersection length or a composite
of assays calculated from interval weighted assays over the
intersection length.
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.
VMS Ventures owns approximately 45% of North American Nickel
Inc. (TSX VENTURE: NAN). For more information on North American
Nickel Inc., please visit www.northamericannickel.com.
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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