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The Proterozoic volcanic rocks that host VMS deposits in the Snow Lake area continue southwards from the Reed and Wekusko Lake areas where they are covered by a thin veneer of flat-lying limestone that increases in thickness gradually southwards.


Although several small or low grade VMS deposits have been found in this vast area, the only producing mine (Spruce Point) is located at the edge of the limestone cover. Recently HudBay Minerals (HBM-TSX) announced that they would be undertaking a feasibility study on another deposit that is also situated beneath the limestone cover.

 

 

Black Smokers = Potential VMS Deposits

The Company’s exploration team has acquired a sizeable land position in the limestone covered areas south of Snow Lake based on one of the unique features of VMS deposits known as ‘Time-Space-Units’. It is well recognized in VMS mining camps that VMS deposits form on the bottom of paleo oceans within a very short time interval (Time) and within relatively thin units of Rock (Space). Deposits of this type are presently forming on the bottom of today's oceans by fumaroles known as ‘black smokers’.

 

When these fumarolic deposits are covered by other rocks and folded during mountain building processes from flat lying into vertical or near vertical positions, the deposits and their host rocks can be traced as a relatively narrow band (Horizon) within the thicker piles of volcanic and sedimentary rocks. Because the VMS deposits often occur in clusters on the bottom of the oceans, the identification of the Time-Space-Unitsis critical to the exploration for both new and additional deposits.

 

Each of VMS Ventures Inc.’s  properties  within  the Cover Project includes one or more Time-Space-Unitsthat are based on information gleaned from previous drill results, assay data, geophysics and geology that are contained in public domain assessment reports filed at the Manitoba Mines Branch.

 

Exploration Methodologies

As part of its evaluation of acquired Time-Space-Units the Company is applying new modern geochemical methods to ‘see through’ the limestone to determine the metal-rich portions prior to undertaking a drill program. This program, initiated in 2005 with several test surveys, evaluated a number of conductive rock units within known Time-Space-Units and resulted in the identification of several geochemical anomalies that are worthy of a follow-up drill program.

As well, VMS Ventures Inc. will utilize the revolutionary airborne geophysical survey technology known as VTEM. (VTEM stands for Versatile Time-Domain Electromagnetic). Among other attributes, the VTEM system provides "unparalleled depth of penetration and highest resolution" and "the industries highest signal / noise ratio and spatial resolution of conductors". This makes VTEM the ideal technology to assist company geologists searching for VMS deposits through the limestone cover.

 

Dolomite Property
The claims in the vicinity of Dolomite Lake were acquired to cover zones of VMS type alteration identified during previous exploration. The geological setting appears to be a continuation of the same belt of rocks that host the Spruce Point Mine to the northeast. Drill core analyses of stored cores have been completed and further evaluation will be undertaken when all of the drill cores have been located.

 

McClarty Property
This property, which includes claims and MEL xxA, was acquired because there are a number of regional geophysical conductors that define a linear zone in a favorable geological setting that includes felsic and mafic volcanic rocks. In addition, previous drilling has intersected massive sulphides that may be part of a VMS system. Systematic follow-up of assessment work and drill cores on this property have not yet been undertaken.
 


Farwell Property
This property covers the northern extension of the McClarty Lake stratigraphy. Several drill holes tested regional conductors and found abundant sulphides, however, many of them were associated with graphite. In addition to the VMS potential, there is a large body of magnetic rocks that may contain nickel mineralization.


 

Value Proposition

 

Geological Setting: Flin Flon - Snow Lake Greenstone Belt. Proterozoic Marine Volcanic Rocks

VMS Target: Multiple 5,000,000 Tonne (plus) Copper-Zinc deposits

World Class Deposits: Flin Flon, Manitoba (Cu, Zn, Au, Ag) 60,000,000 Tonnes

Kidd Creek, Ontario, (Cu, Pb, Zn, Au, Ag) 150,000,000 Tonnes

Value Proposition: 5,000,000 Tonnes grading 2.5% Copper equals 50 lbs/tn at price of 2.25/lb totals US$112.50/tn plus 4.5% Zinc which equals 90 lbs/tn at a price of $.70/lb totals US$63/tn for Zinc.


Total contained metal (Gross Metal Value) = $175.50 X 5,000,000=US$877 million US

 

(Excluding Gold and Silver credits which can be significant in these deposits)


Disclaimer: This value will, obviously, be discounted significantly, as it represents the value of metal prior

to all the costs associated with mining, but we provide it to give readers some context;

 

 

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