The Reed Lake Discovery: Manitoba’s next Copper Mine
2.6MT at 4.52% copper in the indicated category.
VMS Ventures Inc. is a well-financed, publicly traded mineral exploration company listed on the TSX Venture Exchange (TSX.V) under the symbol VMS. The Company has an extensive land position in the world class, highly prospective Flin Flon – Snow Lake VMS belt in mining friendly Manitoba, Canada.
In October, 2007 VMS announced its Reed Copper Deposit discovery, followed by a joint venture signed with HudBay Minerals Inc. (TSX : HBM, NYSE : HBM) in July 2010. This agreement will allow HBM to earn 70% in the project while VMS retains a 30% carried interest and is funded to production. Development activities continue to be on track and on budget. It is expected mining is to start by Q4 2013 and is anticipated to ramp up to full production of approximately 1,300 tonnes per day by Q1 2014. In August, 2012 the Company and HudBay Minerals hosted a groundbreaking ceremony at the Reed Lake property in Snow Lake signaling their commitment to the new copper mine.
In October, 2012 VMS announced a joint venture with HBM on four separate but contiguous claim blocks surrounding the Reed Lake Copper project.
To view the 43-101 report on the Reed Copper deposit, please click here.
To view the Preliminary Economic Assessment of the Reed Copper deposit, please click here.
To view the Prefeasibility Study, please click here.
VMS owns 27.5% of North American Nickel Inc. (NAN:TSX.V). For more information, please visit www.northamericannickel.com