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Super Zone

Super Zone Location and Description
The Super Zone  property comprises a group of 5 mineral claims covering 756 hectares (1867 acres) located immediately east and north east of the JV Property and Reed Lake Deposit. The property is bounded on its south by a paved Provincial highway giving all season road access to exploration crews. The highway connects the property with the mining communities of Snow Lake (82 km to the east) and Flin Flon (100 km to the west). The Super Zone is now referred to as "Reed North".

HudBay has now drilled nine (9) holes, for a total of 2,482 m, on this discovery. Two mineralized horizons have been recognized and a possible third, a deeper target, has been identified by deep penetrating geophysical surveys over the area. Drill results have been positive and follow-up borehole pulse electromagnetic surveys on the discovery support the interpretation that this is a highly prospective area. The mineralization is at, and around, bimodal volcanism. This is especially encouraging as it is the setting in which the larger deposits tend to be located, in VMS camps around the world. The bimodal volcanism and the strong alteration over a large area suggest a large hydrothermal mineralizing system.

Drilling will continue to focus on this area where the geophysical anomaly associated with the mineralization has been traced for more than 1 km. The mineralization seen to date is semi-massive to stringer (remobilized) type sulphides. Variable amounts of pyrrhotite and chalcopyrite occur, with lesser amounts of sphalerite and magnetite.

 

 

History of Exploration
Like the other properties in the area that comprise the Reed Lake JV-Option agreement the Super Zone is situated near the northern boundary of the flat-lying Paleozoic cover rocks. Underneath these Paleozoic-aged cover rocks are much older Proterozoic-aged volcanic rocks which are the host to the valuable mineral deposits being explored for by the Company. As such, the deposits are not exposed at surface and a great deal more geological detective work is required to locate them.

The property has undergone several phases of exploration including older and modern airborne and ground geophysical surveying, soil geochemical sampling and some prior drilling which intersected intervals of minor base and pathfinder minerals and hydrothermally altered volcanic rocks.

These provide evidence of a favourable geological environment for the formation of a volcanogenic massive sulphide (VMS) deposit such as that discovered 2 km to the west at the Discovery Zone. Airborne and deep ground penetrating geophysical surveys provide geologists the ability to essential see through the 20 m thick layer of younger rocks which overlie the much older volcanic rocks that underlie the property. The geophysical surveys have also detected a number of highly conductive and magnetic anomalies which are the signature of base metal deposits in the area. These anomalies remain undrilled and will comprise priority targets in the upcoming exploration activities.

Geology
The property is located near at the northern limits of the Western Canada Sedimentary Basin, which are younger sedimentary rocks that overlie the older and prospective volcanic rocks being explored for copper-zinc-gold-silver poly-metallic deposits in the area. Most of the property is covered by this flat lying layer approximately 20 m thick and or glacial till all of which prevent geologists from directly seeing the rocks underneath. From drill core and correlation of known rock units to geophysical survey maps it is known that the same prospective rock package hosting the Reed deposit is present beneath these claims.

The geology of the Super Zone Option property consists of felsic and mafic volcanic rocks characteristic of the mine hosting areas in the Flin Flon – Snow Lake Greenstone Belt. The geology of the area is a continuation of the Four Mile Island Assemblage of rocks which host 2 past copper-zinc producers (Dickstone and Spruce Point Mines) and several deposits including the one discovered by the Company in 2007. The assemblage consists of mafic and felsic volcanic and intrusive rocks which are of the same age as those hosting the bulk of the VMS deposits in the Flin Flon domain.

Geophysics
VTEM airborne geophysical surveys were flown over the property. In 2007 a survey flown in approximately a west to northwest direction and a second survey flown in a north south direction, was flown to better couple with the trend direction of the prospective target rocks was completed in 2008. In addition, deep penetrating Electro-magnetic surveying was completed in 2008 and 2009 over parts of the property and some historical and modern bore hole surveying was also completed which showed untested off hole anomalies to be followed up in future drill programs.

The geophysical surveys completed to date have provided both targets for drilling as well as a better understanding of the underlying geology and the direction that favourable host rocks are trending.

Ground Deep-EM geophysical surveys were undertaken in 2008 to look for conductive anomalies beneath the 200 - 300 meter depth penetration of the VTEM survey. A series of conductive anomalies forming a chain leading from near the Highway zone of copper-zinc mineralization to the NW was detected and lead onto the Tower claims. Drilling of VTEM anomalies on the property were followed by borehole geophysical surveying to look for off-hole anomalies or explain conductors in holes not intersecting conductive rock intervals such as massive sulphide or graphite rich rock units.

Deposit Types
Base metal massive sulphide mineralization hosted within a sequence of volcanic rocks and exhalite 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. This deposit-type remains a priority target for the Company in its surrounding properties.

Option Agreement with HudBay Minerals Inc.
On June 6, 2010 the Company announced the signing of a Joint Venture Agreement with a subsidiary of HudBay Minerals Inc. Pursuant to the Joint Venture Agreement, HudBay has a 70% interest and VMS has a 30% interest in a joint venture respecting the Reed Lake property and the two claims immediately to the south. The JV area includes the Reed Lake Discovery Zone mineral deposit. HudBay will act as operator of the joint venture with authority and discretion as to the exploration and potential development of the property and will have exclusive rights to purchase and market the ore produced from the property.

HudBay will also provide full financing for VMS' proportionate share of the costs to develop the property, which will be repayable solely from VMS' share of cash flow generated by the project. Upon VMS making certain filings to confirm the previously-disputed boundaries of the joint venture claims, HudBay will make a cash payment to VMS of $2.6 million, as consideration for VMS transferring the southern claims to the joint venture and in lieu of HudBay's obligation to earn back into the property under the initial option agreement between the parties.

An aggressive drill program, in preparation for a resource estimate, has commenced, to be followed by additional drilling to bring the resource into a reserve category and exploration drilling to expand the known resource and identify new deposits on the property.

Current Activities on the Property

On December 19, 2011, the Company announced results from a geophysical review of surface and borehole electromagnetic surveys, The report reviewed the complex nature of the deposit and interpreted the lenses to be plunging moderately to the east. HudBay commenced a diamond drilling program and surface TDEM surveys in February, 2012. No results are currently available.

Under the terms of the Option agreement with HudBay, a further $300,000 must be spent in exploration activity before the anniversary date of July 5, 2012. This would make the total expenditures of $600,000 which is the required expenditure amount to meet by the end of year 2.

Additional work will continue on this new zone and additional VTEM targets in the region. A large time-domain electromagnetic survey is scheduled over favourable magnetic trends.

Location of the Super Zone Discovery:

 

Option Properties Assay Data:

 

Hole Number

From (m)

To (m)

Length (m)

Cu%

Zn%

Au (g/t)

Ag (g/t)

RLE004

275.87

276.21

0.34

5.41

0.27

1.58

26.74

RLE006

133.89

141.07

7.18

7.44

0.23

0.48

7.57

214,00

258.49

44.49

0.79

0.39

0.16

1.58

RLE001-003,  005, 008-011, 013, 017, 019, 023: No Significant Assays

 RLE007

121.75

123.98

2.23

5.94

0.27

0.40

5.50

214.20

238.90

24.70

0.21

1.18

0.08

0.79

RLE012

184.80

193.55

8.75

0.07

0.21

0.00

0.74

RLE014

751.06

753.85

2.79

0.03

2.58

0.05

1.44

757.92

761.38

3.46

0.38

1.20

0.21

4.26

RLE015

67.00

73.00

6.00

0.03

0.99

0.00

0.11

156.73

158.83

2.10

0.13

0.48

0.00

1.95

166.66

169.51

2.85

0.08

0.36

0.00

1.46

RLE016

182.73

193.07

10.34

0.12

0.24

0.01

1.76

RLE018

Hole Abandoned – Rods Stuck

RLE020

199.19

203.70

4.51

0.07

0.63

N/A

2.00

235.52

237.96

2.44

0.67

0.02

N/A

2.86

RLE021

139.15

143.10

3.95

9.31

1.87

3.59

35.53

RLE022

130.54

134.69

4.15

2.16

0.18

0.71

8,01

RLE024

Assays Pending

RLE025

147.00

166.13

19.13

1.42

1.10

0.68

6.71

RLE026

Assays Pending

*True widths unknown*

 



  1 Universal Transverse Mercator/North American Datum 1983/Zone 14

Hole Number

UTM East1

UTM North1

UTM Elevation1

Azimuth2

Dip

Length (m)

RLE001

393334.00

6048883.00

296.00

45

-55

599.00

RLE002

396086.00

6049836.00

295.00

120

-75

254.00

RLE003

392804.00

6048779.00

295.00

130

-60

260.00

RLE004

395050.00

6050455.00

295.00

317

-60

397.00

RLE005

396049.00

6049452.00

295.00

130

-60

149.00

RLE006

395050.00

6050455.00

295.00

335

-55

341.00

RLE007

395050.00

6050455.00

295.00

358

-55

334.00

RLE008

390787.00

6050760.00

295.00

180

-50

209.00

RLE009

395050.00

6050455.00

295.00

358

-70

368.00

RLE010

392005.00

6050655.00

295.00

180

-60

119.00

RLE011

389600.00

6050535.00

295.00

180

-50

218.00

RLE012

395030.00

6049955.00

295.00

8

-50

392.00

RLE013

390850.00

6048460.00

290.00

180

-55

349.00

RLE014

395075.00

6048460.00

295.00

180

-60

1082.00

RLE015

394588.00

6049754.00

290.00

149

-60

356.00

RLE016

394189.00

6050204.00

290.00

360

-60

299.00

RLE017

392300.00

6051345.00

290.00

360

-60

198.00

RLE018

394900.00

6050300.00

290.00

350

-55

128.00

RLE019

394899.00

6050300.00

290.00

350

-55

503.00

RLE020

390866.00

6050783.00

290.00

200

-67

404.00

RLE021

394920.00

6050525.00

290.00

335

-60

290.00

RLE022

394920.00

6050525.00

290.00

335

-50

198.00

RLE023

394920.00

6050525.00

290.00

335

-70

317.00

RLE024

394920.00

6050525.00

290.00

10

-60

248.00

RLE025

394920.00

6050525.00

290.00

355

-65

296.00

RLE026

394920.00

6050525.00

290.00

310

-50

203.00

2 “Azimuth” is degrees from True North

A plan map of the mineralized intercepts projected to surface on the total magnetic field map is presented below:

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