Reed Copper Project November Development Highlights
December 17 2013 - 2:23PM
Marketwired
Reed Copper Project November Development Highlights
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 17, 2013) - VMS
Ventures Inc. (TSX-VENTURE:VMS) ("VMS Ventures" or the "Company")
is pleased to update shareholders on the considerable progress made
at the Reed mine, near Flin Flon Manitoba, during the month of
November. VMS Ventures owns 30% of the project and is carried to
production. Hudbay Minerals Inc. (TSX:HBM)(NYSE:HBM) ("Hudbay")
owns 70% and is the Operator.
VMS Ventures has received the Reed mine update for November from
its joint venture partner and operator Hudbay. During the month of
November the project reached a number of milestones including:
- Surpassing 2,000 metres of total underground project and
pre-production development
- 627 consecutive days without a lost time accident
- Completion of 85 metre level ore development from zones 30 and
20 and production of 13,154 tonnes of ore
- Completion of two ventilation raises from the 85 to 50 metre
levels
- Commissioning of the main fresh air ventilation 600 HP fan on
50 metre level
- Project remains on budget and on schedule
In the month of November 294 metres of underground development
were completed, reaching a total of 2,079 metres. Project
development reached 1,662 metres with an additional 417 metres of
pre-production development.
The focus for December will remain on safety and continued ramp
development down to the 135 metre level and pre-production
development at the 110 metre level of the mine.
The project remains on budget and on schedule and is expected to
reach commercial production by the second quarter of 2014.
Neil Richardson, VMS Ventures' COO states: "We are very pleased
to see that the rate of advancement reached 9.8 metres per day in
November. This helped achieve the milestone of over two kilometers
of underground development to date for the project. Also, the mine
operations have prepared the first production stope which is very
good news, as well. We expect this pace of progress to continue
through December and into 2014 as we work towards commercial
production at the Reed copper mine."
Please visit the VMS website at
http://www.vmsventures.com/investors/photo-gallery to view a slide
show of the latest progress on the Reed mine.
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 mine, which is
subject to a 70-30 JV with Hudbay Minerals and achieved initial
production in Q4-2013, 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 the Black Creek property in the Sudbury mining camp.
VMS Ventures owns approximately 23.9% 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, B.Sc., 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.
VMS Ventures Inc.Evan SleemanDirector(604) 986-2020 or Toll
Free: 1-866-816-0118www.vmsventures.com
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