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VMS Ventures Announces Acquisition of the Nickel Belt Project, MB, Canada
June 7, 2007
Vancouver, B.C. June 7, 2007.
VMS Ventures Inc. (TSX.V: VMS) (the "Company") is pleased to announce the
acquisition of a 52,000 hectare (20 x 26 km) exploration permit that covers a
highly prospective portion of the Manitoba Nickel Belt. The “Nickel Belt
Project” is situated north of Cedar Lake and northwest of the town of Grand
Rapids, Manitoba where there are all weather roads within 15 and 20 km of the
property.
The decision to acquire this land package was based on the
definition of the Manitoba Nickel Belt by government geologists and a Company
evaluation of previous exploration data contained in the Manitoba government
assessment files.
The property is of special interest in that it contains
magnetic signatures similar to the Williams Lake area, some 35 km to the
northeast, where Falconbridge (Xstrata) intersected over 3% nickel in drill
core. Falconbridge geologists established that the Williams Lake nickel-bearing
ultramafic rocks occur within the Pipe Formation, which is the same package of
rocks that contain the Pipe 1 and Pipe 2 deposits and other Nickel-Copper
deposits approximately 20 km from Thompson, Manitoba. (Assessment Files,
Manitoba Mines Branch)
Falconbridge’s exploration established that the area covered
by this Nickel Belt Project permit contains the southwards extension of the Pipe
Formation and also includes calc-silicate rocks that are part of the Thompson
Formation, which hosts the world class Thompson Nickel-Copper Mine (Assessment
Files, Manitoba Mines Branch).
Dr. George Gale, VP
Exploration, says “it is well known by exploration geologists that one of the
best places in the world to be looking for nickel is within the Manitoba Nickel
Belt. Falconbridge intersected both mafic rocks and nickeliferous sulphides in
four drill holes they put down in the area covered by our Nickel Belt Project
property. When the Falconbridge nickel assays are recalculated to 100% sulphide,
the low grade analyses are equivalent to up to 1% nickel. Not only is this a
great place to start looking for nickel, the expertise that we have gained in
the search for copper and zinc beneath the limestones to the north will be of
considerable benefit to us in this new Nickel Belt Project. We intend to use the
airborne VTEM survey as soon as possible and follow it with ground geochemistry
this year.”
VMS Ventures Inc. is focused 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:
Rick Mark
CEO & Chairman
The TSX Venture exchange does not accept responsibility for the
adequacy or
accuracy of this release. |
