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RD-08-53 INTERSECTS 53.09 METRES OF 3.08%
COPPER; SECOND MINERALIZED ZONE CONFIRMED AT VMS DISCOVERY ZONE NEAR SNOW LAKE,
MANITOBA
September
16,
2008
Vancouver, B.C., September 16,
2008 VMS Ventures Inc. (TSX-V: VMS) (the “Company”) is pleased to announce assay
results from drillholes RD-08-50 and RD-08-53 at its Reed Lake Discovery Zone
near Snow Lake, Manitoba.
Highlights:
Including 9.72
metres (31.89 feet) of 5.18% Cu
TABLE ONE
REED LAKE DRILLHOLES*
RD-08-50 and RD-08-53
|
HOLE ID |
FROM
(m) |
TO
(m) |
INTERVAL
(m) |
COPPER
(%) |
ZINC
(%) |
SILVER
(g/t) |
GOLD
(g/t) |
|
RD-08-50 |
132.08 |
136.74 |
4.66 |
1.03 |
0.01 |
Pending |
Pending |
|
and |
268.04 |
277.00 |
8.96 |
2.24 |
1.47 |
Pending |
Pending |
|
RD-08-53 |
131.38 |
184.57 |
53.19 |
3.08 |
0.09 |
Pending |
Pending |
|
inc |
139.93 |
149.65 |
9.72 |
5.18 |
0.08 |
Pending |
Pending |
*True Thickness unknown
VMS Vice President of Exploration, Dr. George Gale states,”We
have now confirmed, based on the recent sectional drilling of the Reed Lake
Discovery Zone, that there are at least two lenses of mineralization present.
Initial drilling of the deposit suggested that there was one zone with abundant
debris flow sulphides and high-grade chalcopyrite sections in pyrrhotite
(iron-sulphide)-rich sections. We have now determined that the debris flow
material occurs in a 3 to 5 m thick, stratigraphically controlled lense (A
lense), and that the high-grade copper intersections occur within a
chalcopyrite-pyrrhotite zone that is structurally controlled mobilizate (B
lense).”
Drillholes RD-08-38 and RD-08-41 intersected high grade
chalcopyrite-pyrrhotite zones without debris flow material. Drillhole RD-08-56,
and later holes in the western portion of the deposit, have confirmed that it
comprises a lower-grade northwards dipping stratabound pyrite-magnetite zone (A
lense) and a separate near vertical cross-cutting high-grade copper-rich
chalcopyrite-pyrrhotite lense(B lense). The mineralization in both lenses is
open to the west.
The cross-cutting B lense consists of both near solid
sulphide and sulphide veinlets. Previously, the B lense had been intersected by
RD-08-41 with assays of 10.36% copper over 33.46 metres. The mineralized
intersections in RD-08-53, RD-08-55 and RD-08-56 confirmed the existence of the
B lense. These holes intersected sections of high-grade copper in near solid
sulphide within significant intervals. RD-08-61 intersected 119.37 metres of
sulphide veinlets and near solid sulphide within the B lense (assays pending).
The most recent hole to intersect the B lense is RD-08-71 which contains 39.71
metres of near solid sulphide. Assays are also pending for this drill hole.
The Company’s present
understanding of the B lense is that it is near vertical, extends towards the
southwest and is oriented at a moderate to high angle to the stratigraphically
controlled A lense, which trends approximately east-west and dips 70-80 degrees
north. On the westernmost section drilled to date, the B lense is located
approximately 50 to 75 m south of the A lense.
For Current Snow Lake Cross Section Page Click Here
Borehole EM geophysical
anomalies have identified conductive targets along strike to the east and west
of current drilling. A recent Induced Polarization (IP) geophysical survey in
the area of the Discovery Zone indicates the presence of an anomaly that is
interpreted to be the westward extension of the B lense. Additional surface and
borehole geophysical surveys are planned to assist in targeting the
mineralization at depth and along strike to the west.
All technical information in
this release has been reviewed by Dr. George Gale, P.Eng., 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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