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VMS VENTURES INC. TO BEGIN SUMMER DRILL PROGRAM AT ITS
COPPER-ZINC PROPERTIES IN SNOW LAKE VMS BELT, MANITOBA
June 21, 2007
Vancouver, B.C. June 21, 2007.
VMS Ventures Inc. (TSX.V: VMS) (the "Company") is pleased to announce that
diamond drilling is about to commence on the Company’s Snow Lake Cu-Zn projects
at its Reed Lake claims. This initial drill program will focus on as many as 5
target anomalies that are accessible during the summer months. All data received
will provide additional information on which the larger Reed Lake winter drill
program will be designed.
The targets are multi-medium
anomalies having coincident VTEM airborne conductors, ground geochemical
signatures and/or evidence in proximal drill core from historical programs in
the area of the proper geologic setting known to host VMS deposits in the belt.
The program will drill a minimum
of 750 metres, and a maximum of 2000 metres, depending on ground conditions and
initial results. The holes will test for the cause of the airborne conductivity
anomaly detected by the VTEM system, test the cause of soil geochemical
anomalies and test the host rocks to the conductor for VMS associated alteration
mineral assemblages, which often occur immediately adjacent to VMS deposits and
can serve as a tool to help point geologists in the direction of the
mineralizing system.
VTEM (Versatile Time-Domain
Electromagnetic) geophysical airborne surveys were conducted on the northern
portion of the Company’s Snow Lake VMS properties during March and April. These
surveys produced over 800 individual anomalies on the two properties for which
data processing has been finalized. Management is pleased with the results
received to date and eagerly awaits our consultant’s final interpretation of the
data for the Sails Lake and Nine-Seven properties in our Snow Lake VMS project.
.
VP Exploration George Gale
states “Some of the targets identified in the recent VTEM survey that coincide
with geochemical surveys conducted by the Company are on high ground with
excellent road access. The availability of drilling equipment has offered us the
opportunity to begin testing some of these targets even earlier than we had
hoped. Though the majority of our targets are winter targets due to ground
conditions, these summer targets are worthy of drill testing because they have
the geophysical characteristics of VMS type hosting mineralization.”
The Reed Lake Project
The Reed Lake area in Manitoba
has been recognized as having the geologic setting known to host copper-zinc VMS
back to the 1950’s. Companies such as Hudson Bay Exploration & Development,
Noranda and Freeport Canada Exploration have all undertaken exploration programs
on the claim area now held by the Company. In 2007, our work on the property is
employing a more powerful airborne geophysical system, VTEM, and state of the
art geochemical exploration techniques to build on the work of preceding
exploration programs and reported results to further define areas prospective
for copper-zinc mineralization.
The upcoming drilling will concentrate on the Reed Lake claim group, the first
VMS property acquired by the company in early 2005. It is located 50 km SW of
the mining community of Snow Lake. Earlier geochemical studies of exhalites and
rhyolitic rocks from two holes drilled on SPECTREM and ground electromagnetic
conductors on the Reed 1 claim indicated that the area is underlain by
favourable geology. It also showed that these rocks are not only altered, but
also contain pathfinder elements commonly associated with VMS deposits.
Extensively altered rhyolite immediately below the sulphide-bearing conductor
has not been drilled and is highly prospective. The remainder of the project
area is also considered to have VMS potential due to the presence of other drill
intersections of VMS type mineralization, which occur in the western part of the
property. In addition, the property partly surrounds, and contains rocks similar
to those found at the Freebeth VMS zone, which is owned by HudBay Minerals Inc
approximately 500m from our claim boundary.
A key objective of the 2006 summer ground program at Reed Lake was to establish
the presence of base metal anomalies associated with conductors identified in
older exploration programs. Each of these geochemical surveys targeted known
geophysical conductors in volcanic rocks that underlie the flat-lying limestone
formation which covers key parts of the prolific Flin Flon – Snow Lake VMS Belt.
The analytical data received to date indicate the existence of base metal
anomalies on several geophysical targets and this summer a large number of
samples are planned to be taken over the new VTEM geophysical anomalies.
VTEM
The VTEM (Versatile Time-Domain
Electromagnetic) survey is the leading airborne geophysical system in use today
and is particularly suited to the identification of copper-zinc massive sulphide
deposits, which the Flin Flon – Snow Lake VMS (volcanogenic massive sulphide)
belt is prolific in hosting. The VTEM survey provides high definition, deep
penetrating magnetic and electro-magnetic measurements of the underlying rock
which are able to detect buried massive sulphide mineral deposits. VTEM
identifies anomalies deeper and with greater resolution than the previous
generation of airborne surveys. This technology will also enable a more
effective means to explore the southern portion of the Company’s Snow Lake
property package where Paleozoic aged limestone sediments cover the prospective
greenstone belts.
Snow Lake VMS Property Package
Over the past 2 years, the Company has acquired 12 distinct, strategic land
packages in the Snow Lake-Flin Flon VMS belt. Each has been selected based on
the existence of either known VMS style mineralization in drill core or at
surface, the identification of VMS associated alteration in host rocks, and/or
the presence of stratigraphy that hosts a VMS deposit on neighboring claims. The
Company anticipates a continuous program of target identification, evaluation
and drilling from now through winter 2008/09.
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.
All technical information in this release has been reviewed by Dr. George Gale,
P.Eng, Vice President of Exploration, VMS Ventures Inc.
ON BEHALF OF THE BOARD OF
DIRECTORS
John Roozendaal
President
For further information
contact:
Keith Patey, Director of
Communications
Telephone: (604) 986-2020
Toll Free: 1-866-816-0118
Or visit the website at
www.vmsventures.com
Coal Harbor Communications
Steve Kubota
Telephone: (604) 662-3237
Toll Free:
1-866-405-3955
The TSX Venture exchange does not accept responsibility for the
adequacy or
accuracy of this release. |
