VMS Ventures Inc.: Reed Lake Discovery Zone Stratigraphy Extends Through the Tower Zone, Near Snow Lake, Manitoba
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 13, 2010) -
Editor's Note: There are 2 photos associated with this Press Release.
VMS Ventures Inc. (TSX VENTURE:VMS) (the "Company") has completed its
diamond drill testing of phase one targets, at the Tower Zone, on its 100%
held Reed 5188 and Reed 5196 claims. The program consisted of three holes
and the extension of a previous hole for a total of 1809 metres. Diamond
drill hole (TZ-08-01) was extended to assess a Borehole Pulse
Electromagnetic (BHPEM) anomaly. All drill holes intersected sulphide
mineralization explaining the Surface Pulse Electromagnetic (DPEM) and
coincident Versatile Time-Domain Electromagnetic (VTEM) anomalies.
The phase one targets are located within 1500 m of the Company's Reed Lake
Discovery Zone, which has produced numerous significant drill results
beginning with the Discovery Hole announcement October 4, 2007, which
included an intercept of 10.50 m of 11.19% copper within 43.05 m of 4.38%
copper. http://www.vmsventures.com/newsroom/NRG107.asp
Two of the holes intersected near solid sulphide with disseminated
chalcopyrite and sphalerite at, or near, the contact between sericitized
and silicified altered rhyolite and basalt volcanic units. The occurrence
of alteration, such as this, at or near the contact of felsic and mafic
volcanic units is an important characteristic for copper-zinc-gold-silver
deposits in the Flin Flon - Snow Lake mining camp and in other major VMS
deposit districts around the world.
The stratigraphic interval within the felsic volcanic centre that hosts the
Discovery Zone has now been interpreted to continue at least 2 km to the
southeast through the Tower Zone area. This key stratigraphy also appears
to extend to the northeast for an additional 1.3 kilometers through and
near the area of VMS' phase two drill targets (see image 1).
Vice President of Exploration and Technical Services, Dr. Mark Fedikow,
states: "The presence of visible chalcopyrite and sphalerite in
anastomozing pyrrhotite - pyrite veins within highly silicified and
sericitized quartz-phyric, rhyolitic volcanic rocks confirms the presence
of VMS-type alteration and a plumbing system for base metal massive
sulphide mineralization. Of critical importance is the recognition of key
volcanic components that comprise a productive stratigraphy potentially
hosting multiple base metal deposits between the Discovery Zone, the Tower
Zone and elsewhere along this horizon. Ongoing geophysical and geochemical
surveys will assist us in exploring and extending this stratigraphy and
targeting additional base and precious metal-bearing conductive zones."
Claims Reed 5188 and Reed 5196 are part of the Company's extensive Reed
Lake property package in the Snow Lake mining district of Manitoba, which
the Company is now referring to as the Reed Lake Super Zone. It is
approximately 550 hectares in size, contains numerous untested conductive
features and is known to host three mineralized zones (Discovery, Tower and
Highway).
The Super Zone has been defined on the basis of "AdTau" (see image 2),
which is a calculated measurement derived from the analysis and
interpretation of Versatile Time-domain Electromagnetic system (VTEM) data.
AdTau is a direct indication of rock conductivity. The metal-rich
mineralization that comprises VMS-type deposits typically produces strong
conductivity responses. The 550 hectare Reed Lake Super Zone is interpreted
to be highly prospective for this style of deposit. The Company is building
its Super Zone exploration plans based on the hypothesis that it may host a
VMS camp of several deposits.
Core logging is nearing completion and core samples will be sent for
analysis shortly. Assays will be reported as they become available.
Borehole electromagnetic surveying has been completed and the
interpretation of the data will be available by mid January and integrated
into phase two exploration planning. Surface pulse electromagnetic and
borehole pulse electromagnetic surveys have been refined over the last few
years, thus allowing explorationists to now see deeper targets and multiple
horizons, such as the Lalor Lake deposit of HudBay Minerals Inc.
Phase two of the Tower Zone drill campaign will commence following
compilation and integration of all data from our phase one program and
should begin in late January, 2010. Phase two will focus on new targets,
northeast of the Tower Zone, which were identified from an earlier
compilation of exploration data and targets generated from phase one. Up to
3,000 metres of diamond drilling is budgeted for phase two.
All technical information in this release has been reviewed by Dr. Mark
Fedikow, P.Geo, who is the Qualified Person for the Company and Vice
President of Exploration and Technical Services, VMS Ventures Inc.
VMS Ventures Inc. currently has a profile on Corebox.net which is updated
as soon as assay results are released. The link to visit our Corebox
profile is: http://www.corebox.net/properties/reed_lake/.
Investors are invited to visit the VMS Ventures IR Hub at
http://www.agoracom.com/IR/VMSVentures where they can post questions and
receive answers or review questions and answers already posted by other
investors. Alternatively, investors are able to e-mail all questions and
correspondence to VMS@agoracom.com where they can also request to be added
to the investor e-mail list to receive all future press releases and
updates in real time.
VMS Ventures Inc. is focused primarily on acquiring, exploring and
developing copper-zinc properties in the Flin Flon-Snow Lake VMS Belt. The
Company also holds the largest land package considered prospective for
nickel-copper mineralization at Lynn Lake, which is to date Canada's third
largest nickel producing camp. The Company's project portfolio consists of
the Snow Lake VMS project, the Lynn Lake Gabbros nickel-copper project, the
Nickel Belt project and the South Bay nickel-copper-cobalt PGE property.
All VMS Ventures Inc. properties are located in the mining friendly
province of Manitoba, Canada.
ON BEHALF OF THE BOARD OF DIRECTORS
John Roozendaal B.Sc., President & Director
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