All three samples show remarkably consistent high predicted recoveries for nickel. For sample L163163, the grade-recovery curve indicates the maximum possible Ni grade is approximately 35% at a recovery of 86%. For L163164, the maximum possible Ni grade is approximately 35% at a recovery of 87%. For L163593 the maximum possible Ni grade is approximately 35% at a recovery of 84%.
For sample L163593, from the Spotty Hill zone, the maximum possible copper grade is approximately 34% at a Cu recovery of 72%.
Despite the fact samples L163163 and L163164 both come from the Imiak Hill zone and are contiguous samples in the same hole, their grade-recovery curves differ considerably. The curve for sample L163163 indicates the maximum possible Cu grade is approximately 34% at a Cu recovery of 52%. For L163164 the maximum possible Cu grade is approximately 34% at a Cu recovery of 77%.
Further study is required, but the relatively poor indicated recovery for sample L163163 may, at least in part, be related to the fact that of the three samples this one has the least amount of chalcopyrite.
To view "Figure 1: Predicted Nickel Grade vs. Recovery", please visit the following link: http://media3.marketwire.com/docs/611vms_graph1.jpg.
To view "Figure 2: Predicted Copper Grade vs. Recovery", please visit the following link: http://media3.marketwire.com/docs/611vms_graph2.jpg.
BACKGROUND AND METHODOLOGY
NAN submitted the three drill core samples listed in Table 5 to SGS's Lakefield Advanced Mineralogy Facility for QEMSCAN mineralogical analysis. Two samples (L163163 and L163164) came from hole MQ-12-001, which was drilled on the Imiak Hill zone, and one sample (L163593) came from hole MQ-12-005, which tested the Spotty Hill Zone. Both holes were drilled in 2012 by NAN. The Imiak and Spotty Hill showings are located within 1.5 km of each other in the northern part of the Greenland norite belt on mineral exploration licence 2011/54 belonging to NAN.
To view "Table 5: Samples used in the study (assay results are from analyses performed by Activation Laboratories Ltd. in 2012).", please visit the following link: http://media3.marketwire.com/docs/611vms_tab5.jpg.
SGS stage-ground the samples to 90% passing 150 um (approx. 80% passing 106 um) and prepared a graphite-impregnated polished section from a sub-sample of each sample. The polished sections were then analysed by QEMSCAN.
QEMSCAN is an acronym for Quantitative Evaluation of Materials by Scanning Electron Microscopy. It is an automated system that is configured to measure mineralogical variability based on chemistry at the micrometer-scale. QEMSCAN utilizes both the back-scattered electron (BSE) signal intensity as well as an Energy Dispersive X-ray (EDS) signal at each measurement point. EDS x-ray counts or spectra are used to assign mineral identities to each measurement point by comparing against a known mineral species identification program (SIP) or database. Mineral speciation, quantitative modal abundance and elemental deportment can be determined. Textural information such as core mapping, particle and mineral grain size and shape, mineral liberation, mineral associations, porosity, and matrix density can be captured and reported numerically and graphically.
All technical information in this release has been reviewed by Dr. Mark Fedikow, P.Geo, who is the Qualified Person for the Company and President, North American Nickel Inc."
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 Copper Project, which is subject to a 70-30 JV with HudBay Minerals and, subject to receipt of required permits, 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 in northern Manitoba. These properties are located in the mining friendly province of Manitoba, Canada. The Company also has optioned the Black Creek property in the Sudbury mining camp.
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 the costs, plans and schedule to develop the Reed Copper Project, 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.
Toll Free: 1-866-816-0118
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