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 - McClarty Project

Location and Property Description
The McClarty Project is situated approximately 45 km west-southwest of the Town of Snow Lake where active mining and milling of base and precious metals has been ongoing for decades. The property  is 100% owned by VMS Ventures and comprises 9 claims and one mineral exploration license with a total area of 11,284 hectares. The property is located on the south side of Provincial Road 39 and occurs beneath a veneer of dolomite.

History of Exploration
Airborne and ground magnetic and electromagnetic surveys have been undertaken in the general area of the project by Granges, Hudson Bay Exploration and Development and Manitoba Mineral Resources since 1972. These surveys were necessary owing to the extensive cover of dolomite that blankets the prospective Flin Flon-Snow Lake greenstone belt in this area. Diamond drill testing of some of the conductors intersected abundant iron sulphide (pyrite and pyrrhotite) with graphite. Sulphide intersections in drill core are described as “massive” denoting near solid sulphide was present. Intersections of pyrite-chalcopyrite and sphalerite were also obtained in disseminated to near-solid sulphide mineralized zones.

Philosophy of VMS Ventures Exploration
The McClarty Project was acquired because there are a number of regional geophysical electromagnetic conductors that define a linear zone in a favourable geological setting that includes felsic and mafic volcanic rocks. Previous drilling has intersected massive sulphide mineralization that may be part of a VMS system. Systematic follow-up of assessment work and drill cores on this property has been initiated. The recognition of chemical sedimentary rocks or “exhalites” deposited at a stratigraphic interval corresponding with a break in volcanism represents an important time-stratigraphic feature. It is at this location that base metal massive sulphide deposits are formed. This includes deposits in the Flin Flon-Snow Lake greenstone belt and in greenstone belts worldwide. The McClarty Project claim group and mineral exploration license being explored by the Company is sub-Paleozoic meaning that the rocks that will host copper, zinc, nickel and platinum group metals are not exposed at surface which has frustrated traditional methods of exploration. For this reason deep-looking soil geochemical surveys will be applied to the property to prioritize drill targets. For this reason VMS Ventures has undertaken an integrated geological-geophysical-geochemical exploration program to assess the Sails Lake area for base metal and associated precious metal mineralization.  

Geology
The property is characterized by a layer of dolomite that overlies the highly prospective Flin Flon-Snow Lake greenstone belt and its contained base metal massive sulphide type mineralization. The underlying greenstone belt comprises mafic and felsic volcanic and volcaniclastic rocks that are intruded by a variety of lithologies including ultramafic rocks, gabbro, diorite and quartz diorite and felsic to intermediate monzonite and tonalite.

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

Geochemistry
Partial and selective extraction soil geochemical surveys have been carried out and reported on the property in 2009. The detection of multi-element base and precious metal anomalies coincident with VTEM geophysical responses will be the focus of diamond drilling on the property.

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 Flin Flon belt VMS deposits including the Discovery Zone at Reed Lake.

Current Activities on the Property
Historical exploration data were entered into a GIS format.

An additional Mineral Exploration Licence (MEL 390A) was obtained in the McClarty Lake - Farwell Lake area to cover strike continuations of favourable geology which is believed to be prospective in hosting the copper-zinc-gold-silver deposits know to occur in the Flin Flon and Snow Lake mining camps (see description of Farwell Project).

Reconnaissance MMI soil geochemical surveys were initiated in 2009 with the aim of screening VTEM airborne geophysical picks identified by the Company’s geophysical consultants, which is now complete and the report has been submitted to the Mines Branch.

Three additional claims were staked immediately west of the four claims held by Troymet Exploration Corp. and HudBay Minerals on which a VMS type copper-zinc-gold-silver mineral zone was discovered in the 1990’s and where drilling has been announced to commence in early 2010.

One diamond drill hole was completed on the McClarty North group, testing a VTEM anomaly with a coincident magnetic anomaly. Two drill holes were completed on the McClarty MEL testing VTEM anomalies and coincident magnetic anomalies. Assay results from the 2011 drilling program returned only anomalous base metal values.

Troymet Exploration Corp. reported on April 11th, 2011 that their drill program has resulted in the recognition of a 2 km long stratigraphic horizon that carries base metal mineralization based on the results drilling intercepted and a pulse EM survey of VTEM airborne anomalies on the property. This is of great interest to the Company as the Company holds all the ground for a very large distance around the Troymet property package. As these types of deposits tend to occur along specific geological horizons and in clusters of multiple deposits the Company believes these findings greatly enhance the prospectivity of its surrounding claims.

Future Activities on the Property
Additional MMI soil sampling was carried out in the McClarty Lake area and focused on airborne geophysical picks established previously. Approximately 300 MMI soil geochemical samples were collected from the McClarty Lake Project area. The sampling program is finalized and data has been interpreted. An assessment report has been submitted to the Manitoba Mining Recorder's office.

Four diamond drill holes were completed on VMS Ventures McClarty and Farwell Projects in 2011. A total of 1784 meters were drilled to assess airborne VTEM geophysical conductors.The drill holes intersected narrow zones of disseminated to near solid iron sulphides, graphite and rare chalcopyrite and sphalerite. No base metal massive sulphide-type mineralization or associated alteration was intersected. The Company holds a very large land position of approximately 300 square km which surrounds 6 square km area covered by Troymet and HudBay. Airborne geophysical survey interpretations o the area’s geology suggest the host geological horizons to be the mineralization discovered on the Troymet and HudBay claims continue onto the Company’s adjacent property.

Continued diamond drilling of other target areas is contemplated for early 2013. Additional grid-based, detailed MMI surveys based on the reconnaissance survey will be undertaken.

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