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RD-08-51 INTERSECTS 97.21 METRES OF 2.08%
COPPER AT DISCOVERY ZONE, SNOW LAKE, MANITOBA
September
4,
2008
Vancouver,
B.C., September 4, 2008 VMS Ventures Inc. (TSX-V: VMS) (the “Company”) is
pleased to report assay results from drill holes RD-08-51 and RD-08-52 at its
Reed Lake Discovery Zone near Snow Lake, Manitoba.
Drillhole
RD-08-51 intersected two zones of mineralization: from 223.25 to 320.46 metres
and 367.81 to 370.16 metres. The upper zone contains 97.21 metres of 2.08% Cu
and the lower zone contains 5.14 metres of 1.14% Cu. Hole RD-08-51 is on the
same cross-section as holes RD-08-59, RD-08-70 and RD-08-71, whereas hole
RD-08-52 is on the same section as holes RD-08-11, RD-08-53 and RD-08-55.
Highlights:
·
RD-08-51: 97.21 m
(318.93 ft) of 2.08% Cu, 0.07% Zn
Including: 10.77 m (35.33 ft) of 6.86% Cu, 0.23% Zn
·
RD-08-52: 5.14 m
(16.86 ft) of 1.14% Cu, 0.02% Zn
TABLE I
ASSAYS FOR DRILLHOLES
RD-08-51 and RD-08-52
|
DRILL
HOLE |
FROM
(m) |
TO
(m) |
INT*
(m) |
Cu
% |
Zn
% |
Ag
g/t |
Au
g/t |
|
RD-08-51 |
223.25 |
320.46 |
97.21 |
2.08 |
0.07 |
Pending
|
Pending
|
|
Inc |
223.25 |
234.02 |
10.77 |
6.86 |
0.23 |
Pending |
Pending |
|
Inc |
240.05 |
286.31 |
47.14 |
2.28 |
0.06 |
Pending |
Pending |
|
And |
367.81 |
370.16 |
2.35 |
2.53 |
0.05 |
Pending |
Pending |
|
RD-08-52 |
120.67 |
125.58 |
5.14 |
1.14 |
0.02 |
Pending |
Pending |
* True Thickness unknown
Dr. George
Gale, VP Exploration states, “The intersection in RD-08-51 consists
predominantly of sulphide veinlets similar to the mineralization in RD-08-38. To
achieve a grade in excess of 2% copper over such a long interval is very
encouraging and suggests that we may have the beginnings of a second zone of
mineralization as it appears to be different than the pyrite-magnetite zone.”
New Property Acquisition
VMS Ventures Inc. has entered
into an Option Agreement with Mr. William Kuran and Mr. Warren Heidman to
acquire a 100% interest in the Mort Claims which are located 27 km west of the
mining community of Snow Lake and 21 km north of the Company’s Reed Lake
Property. The Mort Claims comprise a contiguous block of 12 claims covering an
area of 23.18 sq km and are considered prospective for copper-zinc deposits.
In order to earn a
100% interest in the claims, VMS Ventures Inc. will issue 75,000 common shares
of the Company to each of the two property vendors of the property upon receipt
of the acceptance of the TSX Venture Exchange. Also, a onetime payment of
$25,000 will be made. The property is subject to a Net Smelter Royalty (“NSR”)
of 2%, one half of which may be purchased by VMS Ventures Inc. for $500,000.
VMS Ventures
Inc. employs a rigorous quality assurance and quality control program that
includes secure storage and shipping of assay samples combined with standards,
blanks, duplicates and replicate assays. All the samples reported in this
release were prepared and assayed at Activation Laboratories Ltd. in Ancaster,
Ontario.
All technical
information in this release has been reviewed by Dr. George Gale, P.Geo, Vice
President, VMS Ventures Inc.
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
For further information contact:
|
Keith Patey,
Director of Communications
Telephone: (604) 986-2020
Toll Free: 1-866-816-0118 |
Dale Paruk
Coal Harbor Communications
Telephone: (604) 662-4505
Toll Free: 1-877-345-3399 |
The TSX Venture exchange does not accept responsibility for the
adequacy or
accuracy of this release.
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