Fox Project


Location and Property Description
The Fox Project is situated approximately 65 km west-southwest of the Town of Lynn Lake and 102 km west-north-west of the Town of Leaf Rapids. Both of these towns have been mining centers for base metal massive sulphide type mineralization with the Ruttan Zn-Cu deposit (70 million tons grading 2.86% zinc and 0.76% copper) at Leaf Rapids and the Fox Cu-Zn deposit (14.8 million tons grading 1.81% copper and 1.5% zinc) at Lynn Lake. The Fox property comprises 5 claims with a total area of 1005 hectares. It is approximately 3 km south of the past producing Fox Mine and is 100% owned by VMS Ventures.

History of Exploration
From 1954 through to 1996 a large number of primarily airborne and some ground magnetic and electromagnetic surveys were undertaken in the general and immediate area of the Fox Cu-Zn deposit. These surveys covered the Fox Project, situated 3 km south of the Fox Mine, and straddles the postulated trend of the host rocks to the Fox deposit. Canadian Nickel Company, Granges, Selco, Sherritt Gordon Mines, Aur Resources, Manitoba Mineral Resources, and Falconbridge Nickel Mines Limited all undertook geophysical, geochemical and geological mapping in the area. Abundant alteration mineral assemblages including anthophyllite, cordierite, garnet, sericite and chlorite that were characteristic of the alteration at the Fox deposit were documented from mapping programs. Rock geochemical studies were also undertaken by various companies. The Geological Survey of Canada undertook regional lake sediment programs in the area and the Manitoba Geological Survey mapped the area in detail.

Philosophy of VMS Ventures Exploration
Exploration by the Company at the Fox property will focus on the postulated trend of the Fox deposit utilizing geophysical and geochemical technologies to assist geological interpretation of potential drill targets for the discovery of base metal massive sulphide-type mineralization.

The area is part of the Wasekwan Group volcanic and sedimentary rocks that comprise the Lynn Lake greenstone belt. The area of the property is characterized by aphyric mafic volcanic rocks, mudstone and siltstone interlayered with felsic tuff, amphibolite, iron formation and altered felsic volcanic rocks with alteration mineral assemblages similar to those at the Fox copper-zinc deposit.

VMS Ventures Inc. conducted an airborne geophysical survey over the property in early 2008 using GEOTECH’s VTEM system. A number of well-defined coincident magnetic and electromagnetic anomalies were defined. These anomalous responses indicate the presence of bedrock-hosted conductive minerals such as copper- and zinc-bearing sulphide with associated gold and silver as well as the iron sulphide minerals pyrite and pyrrhotite. Follow-up ground truthing of these anomalies with geochemical surveys and drilling are planned.

Partial and selective extraction soil geochemical surveys will be used to screen geophysical responses on the property. The identification of coincident multi-element base and precious metal anomalies and VTEM geophysical responses will be the focus of diamond drilling.

Deposit Types
Base metal massive sulphide mineralization hosted within a sequence of volcanic rocks and exhalites are strongly indicative of volcanogenic massive sulphide type base metal mineralization (“VMS”). This deposit type is representative of both the Ruttan Zn-Cu and the Fox Cu-Zn deposits.

Future Activities Contemplated for the Future

The company has compiled historical information with an integration of a recent VTEM survey to augment a Mobile Metal Ion (MMI) survey which was completed in the summer of 2011. Results will be incorporated into ArcGIS project and prioritized for follow-up work.

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