VMS Ventures Inc.

Published : July 28th, 2011

INTERSECTS SECOND COPPER OCCURANCE AT COWAN RIVER, SNOW LAKE, MANITOBA

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Keywords :   Copper | Gold | Silver | Zinc |


Dear VMS Followers,

This morning’s announcement of a second copper occurance at the Cowan Project, near the Reed Project, is approximately 2 km from the first discovery there announced earlier in the year (6.59m of 2.25% copper, including 9.81% copper over 1.39 m). The map below shows you the location of the two copper occurances at Cowan and the large grid being constructed to run a deep looking geophysical survey, to be undertaken shortly. The news is significant due to the nature of VMS deposits in this belt.

When the VMS deposits of this belt were formed about 2 billion years ago, there was an ancient sea floor with volcanic activity taking place. Scientists can actually see these same physical processes occurring today by way of deep sea submarines traveling to areas of today's oceans where this activity is taking place now. As a result, geologists have learned a great deal about how these deposits formed, the spatial relationships between deposits and the key features that tell us when we are in a hydro-thermal vent field and thus potentially close to a VMS deposit. The copper mineralization at Cowan occurs as sulphide mineral veinlets in hydrothermally altered rock, which is a key feature for explorationists looking for Volcanogenic Massive Sulphide deposits.

When the hot fluids, laden with metals rise through the ocean crust, through fractures in the rock, they alter the rocks to form the very  minerals which tell geologists that such a system was active in these ancient ocean rocks and also leave behind sulphide minerals as veins. From studies of modern vent fields, and also of mines that have formed in these ancient rocks, we know that these vents don't generally come up alone, but as part of a greater vent field with multiple vents issuing the hot fluids which provide the metal for these copper-zinc-silver-gold rich deposits.

The Cowan discovery was our first indication of finding another vent field in the Reed Lake area. This new second occurrence, announced this morning, confirms to our geologists that this area is highly prospective and capable of hosting multiple vents over a large area, thus has the potential for one, or many, deposits. The challenge as always is locating the vents that produced the larger and richer deposits worthy of mining.

A deep looking ground geophysical survey, with lines spaced every hundred meters over this 2 km area, is the next step towards finding these deposits. The fact that both occurances have high copper values along with highly anomalous zinc-silver-gold values is very encouraging, as that is what makes Flin Flon - Snow Lake VMS deposits so valuable.

I’m happy to discuss this with you and look forward to your feedback.

Best regards,

John Roozendaal
President & Director
VMS Ventures Inc.



VMS VENTURES INTERSECTS SECOND COPPER OCCURANCE AT COWAN RIVER SNOW LAKE, MANITOBA

Vancouver, B.C., July 28, 2011 - VMS Ventures Inc. (VMS: TSX-V) (“VMS”) is pleased to announce the results from its recent drill program at the Cowan River zone and VTEM target R-4 (see table below).  Hole RE-11-007 intersected 1.40% copper over 3.06 metres testing for a continuation of mineralization at the Cowan River zone discovered this past winter by the Company. A separate hole was drilled to test a VTEM airborne conductor and magnetic anomaly located 2 km south of the Cowan zone reporting 1.12% copper over 0.47 metres in hole number RE-11-006. 

Drilling focused on our recently discovered Cowan River zone (see press release dated April 13, 2011) and a new VTEM anomaly located 2 km south of the Cowan River zone.  Two holes were drilled targeting the strike extension of the Cowan River zone and intersected favourable geology with narrow copper values within chloritized basalts. Stringer sulphide feeder veins within strongly chlorite altered volcanic rocks are a common feature around VMS type deposits mined in the belt. A detailed review of all borehole/surface pulse electromagnetic data and 3D modeling are underway prior to the next phase of drilling.

Drilling of VTEM target ‘R-4’ located 2 km south of the Cowan River zone resulted in  an intersection of 1.12% Cu over 0.47 metres in hole RE-011-006.  This mineralization is hosted within altered basalts, which is very similar to the Cowan River zone and is in the same geological environment that hosts the Reed Copper deposit located 8 km west.  The Reed Copper deposit hosts a NI 43-101 compliant indicated resource of 2.55 MT of 4.52% copper and 0.91% zinc. 

Plans are now underway to complete a surface DPEM survey between this new discovery at VTEM target ‘R-4’ and the Cowan River zone (see figure 1).    The Reed Lake MEL (Cowan River) is a 100% owned land package, 68 sq. km in area and is adjacent to VMS Ventures’ joint venture – option properties with HudBay Minerals Inc. (HBM: TSX, HBM:NYSE).

Neil Richardson, VMS’ Chief Operating Officer states: “We are pleased that this drilling has intersected additional copper mineralization at the Cowan River zone and that a second occurrence of VMS style copper mineralization has been discovered 2 km away. Strong chlorite alteration and highly anomalous values in hole RE-11-006 confirm that we are in a highly prospective belt and further geophysical surveys and a review of BHPEM/DPEM data and 3D geological modeling are planned ahead of the next phase of drilling.”  CLICK HERE TO READ MORE

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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$ 14.6 millions as of today (US$ 11.7 millions, € 10.3 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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11/10/2007(Audio) Interview with President John Roozendaal
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