VMS UPDATES PROGRESS WITH ONGOING EXPLORATION PROGRAMS ON ITS 100% OWNED FLIN FLON - SNOW LAKE GREENSTONE BELT PROPERTIES, MANITOBA
Vancouver, B.C., March 22, 2011. VMS Ventures Inc. (TSX-V:VMS) ("VMS") is pleased to update its shareholders on the Company's ongoing exploration programs at its extensive 100% held property package in the Flin Flon - Snow Lake Greenstone Belt, Manitoba, Canada.
VMS EXPLORATION PROPERTIES
Copper Project
Drill testing of target anomalies scheduled for initial drilling in winter 2011 is now complete. A total of 2,560 metres were drilled in 7 holes on the Company's Copper project located approximately 30 km south of the mining community of Snow Lake, Manitoba. Drill core samples have been sent for base and precious metal assays with results expected in a few weeks.
Cowan River
The drill is now on the Cowan River project located 45 kilometres southeast of the town of Snow Lake and 8 kilometres east of Reed Lake JV/Option Property currently being explored by partner HudBay Minerals Inc. (TSX:HBM, NYSE:HBM). VMS Ventures plans to drill three targets on this MEL based primarily on VTEM airborne geophysical anomalies with positive conductivity and associated magnetic signatures typical of all the base metal mines in the Snow Lake Greenstone Belt.
Morton Lake
The Morton Lake project is located 25 km west of Snow Lake and within 500 metres of the past-producing Dickstone copper-zinc deposit. A deep-penetrating, ground based Time Domain Electromagnetic geophysical survey was completed by Koop Geotechnical Inc. during the first quarter of 2011. The 54 line kilometre survey assessed a long portion of favourable stratigraphy that hosted the nearby Dickstone copper-zinc deposit. Geotech Ltd. completed 340 line kilometres "Versatile Time Domain Electromagnetic" (VTEM - plus) airborne survey over the southern claim blocks. Upon review of the anomalies, a Mobile Metal Ion soil geochemistry survey will be completed and integrated into the drill targeting process.
Farwell
The Farwell project surrounds the McClarty Lake project of Troymet Exploration Corporation (TSXV:TYE) who announced a discovery on May 15, 2008 returning 1.47% zinc and 0.31% copper over 43.05 metres, including 3.46% zinc over 15.3 metres. Geotech Ltd. completed 3,581 line kilometres of (VTEM - plus) over the project in preparation of follow-up geochemical survey "Mobile Metal Ion" (MMI) and Diamond drilling. VMS will determine its exploration strategy after Troymet's drilling is completed and announced. CLICK HERE TO READ MORE
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VMS Ventures Inc.
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EXPLORATION STAGE |
CODE : VMS.V |
ISIN : CA91828R1091 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
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$ 13.9 millions as of today (US$ 10.1 millions, € 9.5 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. |