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VMS VENTURES INC. REPORTS THAT A VTEM AIRBORNE SURVEY HAS COMMENCED OVER ITS
SOUTH BAY, MANITOBA NICKEL-COPPER-COBALT-PGE PROPERTY
April 26, 2007
Vancouver,
B.C. April 26, 2007. VMS Ventures Inc. (TSX.V: VMS) (the "Company") is pleased
to announce that it has contracted Geotech Ltd. of Aurora Ontario to utilize its
VTEM technology to fly an airborne survey over the Company’s South Bay property
located 100 km east of Lynn Lake, Manitoba. The survey will consist of 485
kilometers of flight lines and cover an area of approximately 39 square
kilometers (15 sq miles) over a 12 km strike length of the target horizon which
is host to the nickel mineralization discovered on the property.
Dr. George
Gale, VP Exploration, states “The VTEM survey being flown at South Bay, has
unique design characteristics which allow for the detection of highly conductive
massive sulphide deposits typical of nickel mineralization, to far greater
depths then any previous system available to the Company. This survey will
provide us with a brand new look at the property and will examine over 12 km of
the stratigraphic horizon known to host nickel mineralization, for similar rich
pods and ultimately may lead us back to the source deposit.”
South Bay
Project History:
In 2003 a
nickel-copper-cobalt PGE occurrence was discovered along a provincial road in
northern Manitoba where blasting to level the roadway exposed sulphide
mineralization. Assay values of up to 3.5% nickel and 4.99% copper with up to
4.5 g/t platinum group elements were recovered from outcrop and road cut debris.
The average grade of eleven semi-massive to near massive sulphide boulders
recovered from blast rubble in the road cut exposure is 2.42 % Ni, 0.78 % Cu,
697 ppm Co and 1.32 g/t PGE occurring in a 2 meter to 7 meter wide biotite
schist.
www.vmsventures.com/11x17.pdf
The
mineralization discovered is of the same type associated with magmatic-sulphide
hosted nickel deposits, such as those mined in the Sudbury, Thompson and Lynn
Lake nickel camps of Canada. The mineralization is comprised primarily of
pyrrhotite, pyrite, pentlandite, chalcopyrite, and pyrite.
In 2004 the
Company completed (2717 METRES) of drilling to test prominent geophysical
anomalies adjacent to, and striking in the same direction as the surface
mineralization, 80m to the south of the nickel showing. This initial drill
program did not locate the source of the nickel mineralization and the anomaly
was discovered to be a barren sulphide facies iron formation. The drilling did
identify the biotite schist as the host horizon and drill holes which cut the
unit returned anomalous metals including nickel.
Subsequent to
the drilling, the Company hired Dr. Walter Peredery, who has over 40 years of
nickel exploration experience, including 32 years with INCO Ltd, to review the
project. Following a property visit, and petrological and geochemical analysis
of drill core and outcropping rock, Dr. Peredery recommended the Company conduct
a follow up program to include geological and structural mapping of the project
area in detail and also fly an airborne geophysical survey.
The Company
then contracted Robert K. Springer Ph.D; P.Geo to map the geology and structure
of the area around the nickel showing. Dr. Springer’s study summarized the rock
units that host the mineralization and the structural events evident in the rock
including folding, faulting and shearing. He concluded that the pod of nickel
mineralization represented a significant indicator of a nearby nickel sulphide
source and was probably remobilized from a mafic/ultramafic magmatic source
rock.
Dr. George
Gale states “We have held on to the sizable South Bay property package because
such high grade Nickel occurrences are rare and there exists the potential to
discover a whole new nickel camp. With Nickel prices driving exploration
opportunities, it is time to renew our search for the source of the high grade
nickel outcrop.”
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.
Infrastructure: This discovery straddles the provincial road connecting the
communities of Leaf Rapids and South Indian Lake, Manitoba. It is an area with
favorable infrastructure including all season road access, hydroelectric power,
existing mining communities and the projects location approximately 300 km by
road from INCO's fully integrated nickel mining and smelting complex at
Thompson, Manitoba.
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, historically, 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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