VMS VENTURES INC. EXPLORATION
UPDATE AT COPPER-ZINC PROPERTIES, SNOW LAKE MINERAL BELT, MANITOBA; MCWILLIAM
APPOINTED TO BOARD.
August 16, 2007
Vancouver, B.C. August 16, 2007. VMS Ventures Inc.
(TSX.V: VMS) (the "Company") is pleased to report on the progress of its 2007
summer drill program at the Reed Lake copper-zinc VMS prospect, and on other
exploration activities in the VMS property package in and around the mining
community of Snow Lake, Manitoba.
To date the Company has drilled a total of 1,111 metres of diamond drilling in
five core holes. The first three holes tested a coincident conductive and
magnetic anomaly. Two of these holes have intersected both magnetite and
sulphide minerals. A fourth hole was halted above the VTEM geophysical target
depth (approximately 300m) due to mechanical problems. The required equipment to
complete the fourth hole is being delivered to the site. The fifth hole is
expected to be finished before the end of this week. Assay results and
geological interpretation of the five drill holes will be released upon receipt
and interpretation of data.
Dr. George Gale, VP Exploration states “We are excited to finally see the drill
turning on our large prospective VMS property package that has taken two and a
half years to construct. While this program provides us our first opportunity
for discovery, it is also important because it will help us assess the
exploration methodology used to date, particularly the usefulness of the VTEM
airborne technology.”
These holes are being drilled on the Reed Lake property, which consists of the
VMS claims and Mineral Exploration License, the Dunlop option, and the recently
announced Hudbay Minerals Ltd. option. In addition, ground crews have been
collecting soil geochemical samples over prominent geophysical anomalies on this
property, identified in the spring VTEM airborne survey. This geochemical survey
will be used to assist in the selection of drill targets for the fall 2007 and
winter 2007/2008 drill programs.
Geochemical surveys are also being conducted over VTEM anomalies on the 9-7
property and the Copperman property. Before the end of the field season,
additional soil sampling, geological mapping and prospecting will be completed
at the Sails Lake and Puella Bay properties.
The Company is pleased to announce the appointment of Mr. Bill McWilliam of
North Vancouver, B.C. to its Board of Directors. Mr. McWilliam has been on the
Company’s Advisory Board since 2004. He will also chair the Company’s Audit
Committee as an independent director.
Snow Lake VMS Property Package
Over the past two and half years, the Company has acquired 12 distinct,
prospective 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.
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 Nickel Belt
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.
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