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Toll Free
1-866-816-0118
Telephone
604-986-2020
Facsimile
604-986-2021
CORPORATE OFFICES
VMS Ventures Inc.
301-260 W. Esplanade
North Vancouver, BC
Canada V7M 3G7
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The Reed Lake project consists of claims
optioned from W. Bruce Dunlop Ltd., claims staked by the Company, two
claim blocks optioned from HudBay Minerals Ltd and a Mineral Exploration
Lease (MEL268A) shown on the Adjoining Map as Reed South License.
The claims are situated near the northern boundary of the flat-lying
limestones that cover volcanic rocks similar in age and geological
setting to those that host the Spruce Point mine some 10 km to the east
and the VMS deposits at Snow Lake. In addition, earlier exploration by
HudBay Minerals Inc. (HBM-TSX) identified the ‘Highway Zone’, a Cu-Zn
VMS type mineralization that occurs on the ‘HudBay Option’.
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Rocks
on the property include both mafic and felsic volcanic rocks. The felsic rocks
have geochemical signatures similar to those that host VMS deposits elsewhere in
the belt. The Company undertook a VTEM survey over a portion of the claims in
March 2007 that identified a number of conductive units. Drill testing of three
of these anomalies in summer 2007 identified evidence of VMS mineralization at
all three sites tested. The first site tested resulted in the discovery of a new
VMS deposit with high grade Cu and Zn, the other two sites contained alteration
and trace amounts of mineralization that are typically found to
stratigraphically underlie VMS mineralization. The Company is undertaking
follow-up geochemical surveys to prioritize VTEM anomalies prior to the winter
drill program.
Drilling is in progress on the Discovery Zone and this site will be updated as
information continues. Drill hole locations and summary assay results are shown
below.
Dunlop Option
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 east. Drill core analyses of stored cores have been completed
and further evaluation will be undertaken when all of the drill cores have been
located.
HudBay Option
This property 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.
MEL
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.
Reed South
License
This property 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.
97 Zone
This property covers a narrow belt of greenstones along the west side of Leak
Lake. Several drill holes that tested regional conductors found abundant
sulphides, however, many of them were associated with graphite. A VTEM survey
flown in March 2007 identified a number of previously untested conductors.
Several of these will be drill tested.
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
3.50/lb totals US$175.00/tn plus 4.5% Zinc which equals 90 lbs/tn at a price of
$1.50/lb totals US$135/tn for Zinc.
Total contained metal (Gross Metal Value) = $310 X 5,000,000=US$1.55 billion 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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