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VMS Ventures Reports Drill Testing of Nickel Targets to Commence on the Lynn
Lake Gabbros Project, Manitoba
April 10, 2007
Vancouver, B.C. April 10, 2007 VMS Ventures Inc.
(TSX.V: VMS) (the "Company") is pleased to announce that diamond drilling will
commence shortly at the Company’s Lynn Lake Gabbros Nickel Properties. A drill
contractor has been hired and equipment is now arriving in Lynn Lake. VMS
Ventures holds a dominant land position in the Lynn Lake Nickel Mining Camp,
which is historically the third largest nickel producing camp in Canada.
Exploration Program:
Between July 2005 to April 2006 approximately $215,000 in exploration
expenditures were made on the properties producing a high resolution Magnetic
and EM geophysical airborne survey, and a deep penetrating IP geophysical
survey. Several new prospective anomalies were identified and appear to be
related to sulphide mineralization at depth. Of particular interest, they appear
to be vertically oriented bodies, which is important as the nickel-copper ore
bodies in the Lynn Lake nickel mine occur as vertically-oriented massive and
disseminated nickel-copper sulphide lenses.
The planned drill program will test 3 to 5 of the IP anomalies detected on the
Carr Lake and Frazer Lake claims, subject to surface access and ground
conditions. The top of the targets, as projected in the 3D interpretation, vary
from 100m to 250m depth from surface. All of the targets are untested and have
not undergone previous drilling. Dr George Gale, VP Exploration states, “This
first drill program is important and if successful, the Company will be making
the first new discovery of nickel mineralization outside of the old mine
workings in 4 decades. Also this will prove the effectiveness of using modern
geophysical surveys in the search for new deposits which lay beneath the
penetration limits of older geophysical surveys.”
Nickel Camp History:
Sherritt Gordon Mines Ltd. mined the Lynn Lake nickel-copper deposits from
1953-1976. The mined deposits were discovered in two mafic-ultramafic intrusive
bodies, known as the "Main" and the "El" gabbroic plugs. The Main and El
gabbroic plugs produced 20,151,146 tonnes of ore at an average grade of 1.023%
Ni and 0.535% Cu from three mines over a 24 year period.
VMS Ventures Land Position:
VMS Ventures claims cover 5 of the 7 known Lynn Lake gabbroic plugs in the camp.
The two gabbroic plugs not held by the Company, the “A” and the “El”, are being
explored by Independent Nickel Corporation (INI.V) and Western Areas NL (WSA.T)
respectively. The Company holds all the remaining Lynn Lake gabbroic plugs in
the camp.
The Company’s claims comprise 4 separate claim groupings, the Ralph Lake, Frazer
Lake, Carr Lake and Norrie Lake, covering a total area of 38.83 square
kilometers giving it the largest land position over Lynn Lake gabbro bodies in
the camp. The northern boundary of the Frazer Lake claim group comes within 200m
of the claim which covers the “EL” plug that produced approximately 1.0 million
tons ore grading 3.3 per cent nickel, 1.1 per cent copper to a depth of 270
metres.
The Company holds the option to earn a 100% interest in the claims subject to an
NSR. All technical information in this release has been reviewed by Dr. George
Gale, P.Eng, Vice President of Exploration, VMS Ventures Inc.
Lynn Lake is located in Northern Manitoba, 320 kilometres by road, northwest of
the nickel smelter at Thompson and has significant infrastructure including an
airport, all weather road access, hydroelectricity and a rail line. Manitoba was
recently rated by the Fraser Institute as the best location in the world for
developing a mine.
VMS Ventures Inc. is focused primarily on acquiring, exploring and developing
copper-zinc properties in the Flin Flon-Snow Lake VMS Belt. The Company also
holds the largest package of land considered prospective for nickel-copper
mineralization at Lynn Lake, which, historically, is Canada’s third largest
nickel producing camp. The Company’s project portfolio consists of the Snow Lake
VMS project, the Lynn Lake Gabbros nickel-copper project, the South Bay
nickel-copper-cobalt PGE property, and the Eden Lake Carbonatite Complex,
Specialty Metals property. All VMS Ventures Inc. properties are located in the
mining friendly province of Manitoba, Canada.
ON BEHALF OF THE BOARD OF DIRECTORS
John Roozendaal
President
The TSX Venture exchange does not accept responsibility for the
adequacy or
accuracy of this release.
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