VMS Ventures Drills 8.90 Metres of 1.00 g/t Gold in Hole BC-11-002 and Mechanical Trenching Uncovers Base Metal Showing on it...
February 14 2012 - 5:30AM
Marketwired Canada
VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS") is pleased to announce the results
of a two-hole drill program and mechanical trenching on its 100%-owned Black
Creek property. Two new zones of mineralization have been discovered.
Neil Richardson, VMS' Chief Operating Officer, states: "I am pleased with the
results from our first phase of drilling and channel sampling on the Black Creek
project. The VTEM anomaly tested by BC-11-002 has a strike length of 900 metres
and is open at depth. The new base metal showing indicates the potential of a
permeable breccia zone along the margin of the Cartier Batholith. Additional
work is planned for 2012, including additional drilling, trenching and
prospecting."
A total of 342 metres were drilled to test two separate Versatile Time-Domain
Electromagnetic (VTEM) airborne geophysical anomalies with coincident magnetic
highs. Hole BC-11-002 intersected 8.90 metres of 1.00 g/t Au, in a
heterolithologic fragmental unit at the contact with an oxide to sulphide facies
iron formation. Locally, the oxide facies iron formation is sulphidized and is
mineralized with pyrite, pyrrhotite and minor chalcopyrite. A sulphide rich
interval within the iron formation assayed 2.43% copper over 0.40 metres.
A new base metal showing was discovered in the central portion of the property
by prospector John Brady. An excavator was utilized to remove overburden,
followed by power washing of the outcrop, geological mapping and channel
sampling. Highlights from the channel sample assays include 4.77% zinc, 1.17%
copper, 23 g/t silver and 0.85% lead. This fracture-controlled mineralization is
hosted by a gossanous andesitic unit within an intrusive marginal breccia zone
of the Cartier Batholith, see figure #1 below.
To view Figure 1 associated with this news release, please click the following
link: http://media3.marketwire.com/docs/VMSFig%201.pdf.
Black Creek Assay Data
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Hole
Number From (m) To (m) Length (m) Cu % Zn % Au (g/t) Ag (g/t) Zone
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BC-11-001 No Significant Assays
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BC-11-002 70.10 79.00 8.90 0.01 0.01 1.00 1.00 10
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(i) True widths unknown
Black Creek Collar Information
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UTM
UTM UTM Elevation Azimuth Length
Hole Number East (1) North (1) (1) (2) Dip (metres)
----------------------------------------------------------------------------
BC-11-001 504774.00 5186200.00 357.00 280.00 -45.00 162.00
----------------------------------------------------------------------------
BC-11-002 503002.00 5186803.00 336.00 250.00 -50.00 180.00
----------------------------------------------------------------------------
(1) Universal Transverse Mercator/North American Datum 1983/Zone 17
(2) "Azimuth" is degrees from True North
The Black Creek property is located 20 km north of the town of Capreol, Ontario,
and consists of 63 claim blocks covering an area of approximately 1,501
hectares. Two (2) diamond drill holes were completed for a total of 342 metres
in this first phase of drilling. Additional follow-up work on this project is
scheduled for summer 2012 with mechanical trenching, prospecting and drilling.
For additional details on exploration on our Black Creek property, see VMS'
press releases issued between April 6, 2010 and October 26, 2011, 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 BQTK 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 ALS Chemex Laboratories in Vancouver, BC, where it was
dried, crushed and pulverized and a 250-gram sample was prepared for assaying.
From each 250 gram sample 0.50 grams was removed and leached in aqua regia and
analyzed by ICP-AES for Ag, Cu, Zn, As, Pb, Ni and Fe. Gold was analyzed by fire
assay using a 30g charge, with gravimetric finish. 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 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.
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