Vancouver, B.C.,
March 20, 2008. VMS Ventures Inc. (TSX.V: VMS) (the Company) is pleased to
report an update of its ongoing exploration program at the Reed Project
Discovery Zone near Snow Lake, Manitoba.
Highlights:
RD-08-26: 21.15m
(69.39 ft) grading 2.57% Cu, 3.13% Zn
§
Including: 3.56m (11.68 ft) grading 7.13% Cu, 2.80% Zn
§
Including: 9.45m (31.00 ft) grading 2.57% Cu, 7.22% Zn
RD-08-22: 25.67m
(84.22 ft) grading 0.96% Cu, 4.37% Zn
RD-08-29: 11.55m
(37.89 ft) of Near Solid Sulphides, Assays Pending
RD-08-34: 35.73m
(117.22 ft) of Near Solid Sulphides, Assays Pending
Dr. George Gale, Vice
President of Exploration states: “Drilling continues to extend the limits of
the deposit. Assay data and features visible in drill core indicate that the
Discovery Zone mineralization may be part of a large debris flow. The
significance is that the mineralization may have slid into its present
position from a peripheral source, which could potentially represent the
main body of mineralization. Further evidence of this is that the intense
alteration typically associated with the centre of a VMS system is lacking.
The fourth phase of drill holes is underway, which are planned as deeper
holes to test these observations.”
TABLE I
DRILLHOLES
ASSAYS FOR RD-08-15, RD-08-22 and
RD-08-26
|
DRILL
HOLE |
FROM
(m) |
TO
(m) |
INT* |
Cu
% |
Zn
% |
Au
g/t |
Ag
g/t |
|
RD-08-15 |
260.38 |
262.43 |
2.05 |
3.13 |
0.29 |
0.44 |
9.92 |
|
and |
264.54 |
266.00 |
1.46 |
0.93 |
2.32 |
0.32 |
5.26 |
|
RD-08-22 |
96.97 |
122.64 |
25.67 |
0.96 |
4.37 |
0.76 |
11.39 |
|
RD-08-26 |
61.70 |
82.85 |
21.15 |
2.57 |
3.92 |
0.87 |
15.97 |
|
Inc |
66.28 |
69.84 |
3.56 |
7.13 |
2.80 |
1.93 |
36.74 |
|
and |
121.85 |
133.90 |
12.05 |
2.98 |
2.65 |
0.86 |
12.19 |
|
Inc |
127.70 |
133.90 |
6.20 |
4.16 |
2.82 |
1.06 |
16.75 |
*True
thickness unknown
TABLE II
DRILLHOLE INTERVAL DETAILS
|
DRILLHOLE |
FROM
(M) |
TO
(M) |
INTERVAL*
(M) |
DESCRIPTION |
|
RD-08-21 |
- |
- |
- |
No Sulphide |
|
RD-08-22 |
96.89 |
122.64 |
25.75 |
NSS |
|
RD-08-23 |
- |
- |
- |
No Sulphide |
|
RD-08-24 |
- |
- |
- |
No Sulphide |
|
RD-08-25 |
- |
- |
- |
No Sulphide |
|
RD-08-26 |
61.70 |
82.85 |
21.15 |
NSS |
|
inc |
66.28 |
69.84 |
3.56 |
NSS |
|
and |
121.85 |
133.90 |
12.05 |
NSS |
|
inc |
127.70 |
133.90 |
6.20 |
NSS |
|
RD-08-27 |
- |
- |
- |
No Sulphide |
|
RD-08-28 |
- |
- |
- |
No Sulphide |
|
RD-08-29 |
135.00 |
164.25 |
11.25 |
NSS |
|
RD-08-30 |
136.70 |
159.38 |
22.68 |
NSS |
|
RD-08-31 |
- |
- |
- |
In Progress |
|
RD-08-32 |
- |
- |
- |
No Sulphide |
|
RD-08-33 |
|
|
|
Sulphide
Veinlets |
|
RD-08-34 |
167.92 |
203.65 |
35.73 |
NSS |
*True
thickness is unknown
|
HOLE_ID |
NORTH |
EAST |
LENGTH |
DIP |
AZIMUTH |
|
RD-08-21 |
6048775 |
393978 |
256.22 |
-45o |
045o |
|
RD-08-22 |
6048817 |
393940 |
163.67 |
-600 |
045o |
|
RD-08-23 |
6048775 |
393978 |
274.02 |
-45o |
045o |
|
RD-08-24 |
6048838 |
393916 |
209.39 |
-45o |
045o |
|
RD-08-25 |
6048765 |
393914 |
187.00 |
-45o |
045o |
|
RD-08-26 |
6048838 |
393916 |
145.39 |
-600 |
045o |
|
RD-08-27 |
6048765 |
393914 |
275.00 |
-600 |
045o |
|
RD-08-28 |
6048845 |
393875 |
124.05 |
-45o |
045o |
|
RD-08-29 |
6048782 |
393893 |
182.37 |
-45o |
045o |
|
RD-08-30 |
6048845 |
393875 |
273.41 |
-600 |
045o |
|
RD-08-31 |
6048782 |
393893 |
In Progress |
-600 |
045o |
|
RD-08-32 |
6048819 |
393835 |
288.63 |
-45o |
045o |
|
RD-08-33 |
6048819 |
393835 |
380.06 |
-75o |
045o |
|
RD-08-34 |
6048819 |
393835 |
301.30 |
-600 |
045o |
TABLE III
DRILLHOLE LOCATION-EOH-DIP-AZIMUTH
Drillholes that have not
intersected sulphide mineralization to date are located east of the fault
intersected in holes RD-08-16 and RD-08-25 or into the hanging wall rocks
above a low angle shear intersected in drillholes RD-08-18, RD-08-23,
RD-08-24, RD-08-28, and RD-08-32.
There are three drills
operating on the property. One drill has started Phase Four drilling on the
Discovery Zone to test for mineralization down-dip of the known
mineralization. Phase Four drillholes are targeted to test the potential
down dip mineralization at depths of 250m to 300m beneath the surface. The
other two drill rigs are now testing separate airborne geophysical VTEM
anomalies located in swampy areas between 1km to 3 km northeast of the
Discovery Zone,
These targets are not
easily accessible after breakup. These drill rigs will be redeployed on the
Discovery Zone in April.
An additional 65 line
kilometers are now completed on the property to extend the grid to the north
and east in order to follow anomalies detected at the edge of the previous
survey. Down hole geophysical surveys will be conducted on the cased bore
holes in the coming weeks along with a continuation of the Deep EM survey.
HLEM survey results are now being received and analyzed.
All technical information
in this release has been reviewed by the Qualified Person, Dr. George Gale,
P.Eng. Samples are prepared and analyzed at TSL Laboratories in Saskatoon,
Saskatchewan using ICP-MS and Fire Assay analytical methods.
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 land package considered prospective for nickel-copper
mineralization at Lynn Lake, which is to date 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.
ON BEHALF OF THE BOARD OF DIRECTORS
John Roozendaal
B.Sc.
President &
Director
