Airborne geophysical surveys (VTEM) have been flown over the various exploration properties since 2006 and these surveys have been flown in two directions in some cases. Numerous conductive zones with associated or coincident magnetic responses have been outlined, providing both VMS Ventures and later Hudbay Minerals with drill targets. Down-hole EM surveys have been used to detect off-hole anomalies that also become drill targets.
The prioritizing of these anomalies for drill testing has been further defined by the use of Mobile Metal Ions soil geochemistry which helps to determine those bedrock-hosted geophysical anomalies with elevated metal contents. To date no economic mineralization has been detected on any of the exploration properties however some exceptional intervals of base and precious metals have been intersected in association with bimodal volcanic rocks. These are summarized below in Table 1.
Table 1: Summary of historic assay results, Reed Exploration JV
DDH |
INTERVAL (m) |
Cu% |
Zn% |
Au g/t |
Ag g/t |
RLE021 |
3.95 |
9.31 |
1.87 |
3.59 |
35.53 |
RLE022 |
4.15 |
2.16 |
0.18 |
0.71 |
8.01 |
RLE004 |
0.34 |
5.41 |
0.27 |
1.58 |
7.57 |
RLE006 |
7.18 |
7.44 |
0.23 |
0.48 |
7.57 |
44.9 |
0.79 |
0.39 |
0.16 |
1.58 |
RLE007 |
2.23 |
5.94 |
0.27 |
0.4 |
5.5 |
24.7 |
0.21 |
1.18 |
0.08 |
0.79 |
The nature of these drill intercepts in terms of metal contents, alteration mineral assemblages and EM conductive anomalies indicates the area of exploration interest is extensive and highly prospective for base metal massive sulphide type mineralization. Of particular importance is the presence of these characteristics in association with a sequence of bimodal volcanic rocks in which the larger VMS-type deposits occur, worldwide.
In November 2015, VMS completed a seven drill hole exploration program totaling 4,870 m (Table 2). Areas targeted were approximately 300 m to 2.3 km from the operating Reed Mine. Drilling was conducted on the Reed Mine lease as well as the Exploration JV property. Borehole electromagnetic surveys were conducted on all the drill holes and Reed Mine and Highway Zone stratigraphy was recognized in most of the core holes. Three drill holes, RLE036, RLE040 and RLE042 require follow up work based on favourable geology and the borehole results. Assay data to date are shown in Table 3.
Table 2: Drill Collar Information for the 2015 Drilling Program
Hole Number |
UTM East |
UTM North |
Elevation(m) |
Length |
Azimuth |
Dip |
RLE036 |
393401.8 |
6050036.4 |
284 |
1056 |
359.9 |
-65 |
RLE037 |
394440.2 |
6049360.8 |
299 |
1094 |
209.3 |
-65 |
RLE038 |
395277.8 |
6049488.4 |
295 |
279 |
150.1 |
-55 |
RLE039 |
396073.7 |
6049703.6 |
288 |
737 |
110.0 |
-55 |
RLE040 |
395971.7 |
6049182.4 |
295 |
713 |
109.7 |
-60 |
RLE041 |
395192.6 |
6048894.0 |
308 |
311 |
180.6 |
-60 |
RLE042 |
394876.1 |
6048501.6 |
290 |
680 |
209.4 |
-60 |
Notes:
Collar Coordinates – NAD83 Zone 14U
Holes spotted with Reflex APS Instrument
Table 3: Assay Results to Date for the 2015 Drilling Program
Hole Number |
|
From (m) |
To (m) |
Core Length (m) |
Cu% |
Zn % |
Ag g/t |
RLE036 |
|
447.40 |
456.40 |
9.0 |
0.07 |
0.98 |
0.86 |
RLE037 |
Including: |
452.40 |
453.40 |
1.0 |
0.09 |
1.52 |
1.30 |
RLE038 |
Assays Pending |
RLE039 |
Assays Pending |
RLE040 |
Assays Pending |
RLE041 |
Assays Pending |
RLE042 |
Assays Pending |
Notes:
Intervals represent core lengths, true widths are unknown