VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/01/13 -- VMS Ventures Inc. (TSX VENTURE: VMS) ("VMS Ventures" or the "Company") updates shareholders on the progress of its winter drill programs.
The Company has completed drill testing its 100%-owned base metal massive sulphide-type targets in the Snow Lake greenstone belt of Manitoba and several targets in the North Range of the Sudbury Basin, Ontario. All targets in Manitoba have been selected for drill testing subsequent to the integration of airborne VTEM or ground EM-magnetic geophysical surveys and Mobile Metal Ions ("MMI") soil geochemistry coupled with a review of historic exploration databases. The Company completed 13 holes with two holes abandoned due to low water supply for a total of 3,259.9 metres. In Sudbury, the Company completed three skid mounted drill holes following up TDEM, VLF-EM and MMI anomalies on the Terra Incognita project for a total of 440.6 metres.
Drill testing of Manitoba targets began on the Reed East project and finished on our Copper project. All targets were confirmed as uneconomic iron sulphide mineralization, generally associated with graphitic argillite within basaltic host rocks.
Neil Richardson, COO states: "The cold winter and spring have been exceptionally good for skid mounted drilling with frozen ground providing good access to many of our planned targets. The cold weather created some problems with small ponds frozen solid, providing an inadequate water source for drilling of two targets. We continue to see excellent correspondence between our geophysical targets and the drill results in explaining the anomalies."
The drilling for this season was completed on April 17, 2013. The final assay results for the last few holes are outstanding at the time of writing.
About VMS Ventures Inc:
VMS Ventures Inc. is focused primarily on acquiring, exploring and developing copper-zinc-gold-silver massive sulphide deposits in the Flin Flon-Snow Lake VMS Belt of Manitoba. The Company's VMS project property portfolio consists of the Reed Lake Mine, which is subject to a 70-30 JV with HudBay Minerals and is scheduled for production in Q4-2013, Copper Project, McClarty Lake Project, Sails Lake Project, Puella Bay Project and Morton Lake Project. Outside of the Snow Lake camp, the Company holds massive sulphide prospective properties near the past producing Fox Lake and Ruttan copper-zinc mines, near the communities of Lynn Lake and Leaf Rapids, respectively in northern Manitoba. These properties are located in the mining friendly province of Manitoba, Canada. The Company also has optioned two properties in the Sudbury mining camp. They are Terra Incognita, and Black Creek.
VMS Ventures owns approximately 27.5% of North American Nickel Inc. (TSX VENTURE: NAN). For more information on North American Nickel Inc., please visit www.northamericannickel.com.
Forward Looking Statement
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. VMS Ventures Inc. undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
ON BEHALF OF THE BOARD OF DIRECTORS
John Roozendaal, B.Sc., President
VMS Ventures Inc.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
VMS Ventures Inc.
(604) 986-2020 or Toll Free: 1-866-816-0118
Most Popular Stories
- Apple, HP, Intel May Take a Hit from Slowdown in Smartphone Sales Growth
- FDIC Files Lawsuit on Behalf of Banks Allegedly Hurt by Libor Scandal
- Some California Cities Seeking Water Independence
- Motley Crue's Nikki Sixx Marries Model Courtney Bingham
- Jack Daniel's Resists Changes to Tenn. Whiskey Law
- Chinese e-Commerce Giant Alibaba Gears for IPO in U.S.
- Crimea Seeks Financial Integration With Russia
- E.U. Puts Sanctions on Russia, Ukraine Officials
- Will Missing Malaysian Jet Prompt Aviation System Change?
- Chile Shaken by Major Aftershock