VMS Ventures Inc.

Published : January 29th, 2008

6 HOLES INTERSECT NEAR SOLID SULPHIDES; ASSAY RESULTS FOR TWO AT REED LAKE, MANITOBA DISCOVERY ZONE

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6 HOLES INTERSECT NEAR SOLID SULPHIDES; ASSAY RESULTS FOR TWO AT REED LAKE, MANITOBA DISCOVERY ZONE

Vancouver, B.C. January 29, 2008. VMS Ventures Inc. (TSX.V: VMS) (the "Company") is pleased to report assay results and an update on the progress of its ongoing drill program at the Reed Project Discovery Zone near Snow Lake, Manitoba.

 

Highlights:

 

Hole RD 07 07: ������ 26.27m (86.19 feet) of 1.0% Cu & 4.48% Zn

 

����� - Including 2.03 m of 4.06% Cu & 3.8 m of 10.75% Zn

�������������������������

Hole RD 07 10:������� 43.08m (141.34 feet) of 0.72% Cu & 4.27% Zn

 

������ -Including 10.26m of 8.26% Zn

������������������������

Hole RD 07 12: ������ 32.73m (107.38 feet) of Near Solid Sulphide, Assays Pending

�������������������������

Hole RD 08 14: ������ 31.39m (102.99 feet) of Near Solid Sulphide, Assays Pending

 

Hole RD 08 20: ������ 48.39m (158.73 feet) of Near Solid Sulphide, Assays Pending

 

Vice-President of Exploration, Dr. George Gale states "We are very encouraged by the initial follow-up results to the discovery hole announced in October, 2007. We have intersected additional mineralization with similar lengths and values typical of those in operating mines in the area. We have intersections of Near Solid Sulphides at depths as shallow as 30m and as deep as 170m from surface. Preliminary Deep EM results also suggest that the deposit is open at depth. Drill results to date indicate a near vertical dip to the mineralization."

 

Hole #

From

(m)

To

(m)

Int

(m)

Cu

%

Zn

%

Ag

g/tn

Au

g/tn

PULSE

EM

Off Hole

Conductor

RD07-07

123.43

150.10

26.27

1.00

4.48

12.34

0.81

 

 

Inc

127.10

130.90

3.80

0.70

10.75

8.86

0.53

 

 

Inc

134.76

136.24

1.48

3.84

1.88

43.92

1.86

 

 

Inc

141.00

143.03

2.03

4.06

2.30

31.73

1.41

 

 

Inc

143.03

149.54

6.51

0.35

4.38

4.37

0.37

 

 

RD07-08

 

 

NSI

 

 

 

 

Surveyed

YES

RD07-09

 

 

NSI

 

 

 

 

Surveyed

YES

RD07-10

98.28

141.36

43.08

0.72

4.27

9.39

0.62

 

 

Inc

100.23

110.49

10.26

0.68

8.26

14.74

0.52

 

 

Inc

124.05

129.75

5.70

0.27

4.26

3.61

0.07

 

 

RD07-11

 

 

NSI

 

 

 

 

 

 

RD07-12**

172.21

204.94

32.73

 

 

 

 

 

 

RD07-13

 

 

NSI

 

 

 

 

 

 

RD08-14**

70.79

102.18

31.39

 

 

 

 

 

 

RD08-15

 

 

NSI

 

 

 

 

 

 

RD08-16**

63.44

66.46

3.02

 

 

 

 

 

 

RD08-17

 

 

NSI

 

 

 

 

 

 

RD08-18

 

 

NSI

 

 

 

 

 

 

RD08-19

 

 

IP

 

 

 

 

 

 

RD08-20**

41.61

90.00

48.39

 

 

 

 

 

 


    ** = Near Solid Sulphide intercept (assays pending)

    NSI = no significant interval; IP = in progress

 

 

The analysis of the Discovery Zone continues with the following activities, all designed to assist in defining the deposit as quickly and efficiently as possible:

 


UPCOMING DRILL TARGETS:

 

The two drills operating on the discovery zone will continue to test the mineralization on 25m spaced sections to confirm the strike, dip and extent of the body and to explore for additional sulphide lenses. In addition, A third drill has been mobilized onto the Tower Zone area, located approximately 1 km east of the discovery zone, where alteration and minor mineralization typical of VMS deposits were intersected in the summer program in holes RD 07 04, RD 07 05 and RD 07 06.

 

DOWN-HOLE PROBE/PULSE EM

 

Down-hole PULSE EM surveys of holes RD07-08 and RD07-09, (which did not intersect near solid sulphides) indicate the presence of strong off-hole conductors. Late time channel responses, indicative of good conductivity, show off-hole responses near the end of the boreholes. The geophysical responses of the borehole EM surveys are complex and show that extensive conductivity is located near the boreholes. The off-hole anomalies will be tested in this drill program. The Company has left the casing in each completed drill hole and plans to probe a number of these holes when the system returns to the property, anticipated for mid-February.��

 


DEEP EM SURVEY

 

In anticipation of drill testing deeper targets, the Company contracted to utilize a Deep EM ground survey which is capable of detecting more subtle and deeper targets than the VTEM airborne survey. Four lines of a planned twenty-two line ground DEEPEM survey have been completed. The survey is estimated to detect conductive bodies to a depth of at least 300m. The initial four lines of the DEEPEM survey, though only covering 300 meters of the earlier identified 800 meter long VTEM airborne anomaly, indicates a southerly plunging and strongly conductive body. Further drilling will be required to confirm this interpretation.��

 


HLEM SURVEY

Due to the fact that mineralization has been intersected within 30m of surface (hole RD 08 20), a Horizontal Loop EM survey is being sourced to accurately delineate the near surface portion of the deposit. These deposits often occur as multiple sheets, so the HLEM survey will help to identify the presence of additional mineralized lenses near the surface in the area surrounding the discovery. 

 

VTEM SURVEY

 

Geotech is currently flying the southern portions of the Reed Property which were not surveyed in the spring 2007 program. As part of this survey, the area surrounding the discovery is being flown in a north-south orientation to provide greater definition to the original VTEM anomalies.

 

Location of holes drilled on the Reed Project Discovery Zone:

 

HOLE ID

NORTH

EAST

LENGTH

DIP

AZ

RO-07-01

6048741

393926

250.00

-50

325

RO-07-02

6048735

394004

300.00

-45

340

RO-07-03

6048922

393959

200.00

-70

160

RO-07-07

6048759

393998

200.00

-45

340

RD-07-08

6048748

394046

335.00

-45

340

RD-07-09

6048703

394014

329.00

-45

300

RD-07-10

6048784

394005

225.00

-45

340

RD-07-11

6048787

393946

277.00

-45

340

RD-07-12

6048752

393988

284.00

-45

340

RD-07-13

6048784

394061

303.73

-60

340

RD-08-14

6048787

393946

309.98

-45

25

RD-08-15

6048709

394041

316.99

-45

340

RD-08-16

6048787

393946

267.31

-45

45

RD-08-17

6048814

393997

128.00

-45

45

RD-08-18

6048839

393955

111.86

-45

45

RD-08-19

6048814

393997

������� IP

-60

45

RD-08-20

6048817

393940

151.48

-45

45

 

Dr Gale summarizes "Although we are still in the very early stages of delineating this deposit, we are encouraged to find that we have similar textures and compositions to the deposits of the Snow Lake camp. And while it is well known that these deposits are fractured and faulted and difficult to follow, I am impressed by the number of significant intercepts we have been able to discover so far. The challenge now is to maintain momentum, especially in the harsh winter conditions of northern Manitoba. I'm confident our team can meet that challenge. "

 

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, the South Bay nickel-copper-cobalt PGE property, and the Eden Lake Carbonatite Complex, Specialty Metals 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


 


For further information, Phone (604) 986-2020 or Toll Free 866 816 0118
 or visit our website www.vmsventures.com


The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of this news release.

 


 

 

 

 

VMS Ventures Inc.

EXPLORATION STAGE
CODE : VMS.V
ISIN : CA91828R1091
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VMS Ventures is a zinc and gold exploration company based in Canada.

VMS Ventures holds various exploration projects in Canada.

Its main exploration properties are REED LAKE, LYNN LAKE GABBROS, PUELLA BAY and COVER in Canada.

VMS Ventures is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 13.2 millions as of today (US$ 10.5 millions, € 9.2 millions).

Its stock quote reached its highest recent level on December 31, 2007 at CA$ 1.76, and its lowest recent point on January 22, 2016 at CA$ 0.05.

VMS Ventures has 146 480 000 shares outstanding.

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TSX-V (VMS.V)FRANKFURT (R4E.F)
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