RD-08-53 Intersects 53.09 Metres of 3.08% Copper; Second Mineralized Zone Confirmed at VMS Discovery Zone Near Snow Lake, Manitoba
Tuesday September 16, 6:30 am ET
biz.yahoo.com
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Sep 16, 2008 -- VMS Ventures Inc. (CDNX:VMS.V - News) (the "Company") is pleased to announce assay results from drillholes RD-08-50 and RD-08-53 at its Reed Lake Discovery Zone near Snow Lake, Manitoba.
Highlights:
- RD-08-53 53.19 metres (174.51 feet) of 3.08% Cu
Including 9.72 metres (31.89 feet) of 5.18% Cu
- RD-08-50 8.96 metres (29.40 feet) of 2.24% Cu
TABLE ONE
REED LAKE DRILLHOLES(i)
RD-08-50 and RD-08-53
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FROM TO INTERVAL COPPER ZINC SILVER GOLD
HOLE ID (m) (m) (m) (%) (%) (g/t) (g/t)
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RD-08-50 132.08 136.74 4.66 1.03 0.01 Pending Pending
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and 268.04 277.00 8.96 2.24 1.47 Pending Pending
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RD-08-53 131.38 184.57 53.19 3.08 0.09 Pending Pending
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inc 139.93 149.65 9.72 5.18 0.08 Pending Pending
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(i) True Thickness unknown
VMS Vice President of Exploration, Dr. George Gale, states, "We have now confirmed, based on the recent sectional drilling of the Reed Lake Discovery Zone, that there are at least two lenses of mineralization present. Initial drilling of the deposit suggested that there was one zone with abundant debris flow sulphides and high-grade chalcopyrite sections in pyrrhotite (iron-sulphide)-rich sections. We have now determined that the debris flow material occurs in a 3 to 5 m thick, stratigraphically controlled lense (A lense), and that the high-grade copper intersections occur within a chalcopyrite-pyrrhotite zone that is structurally controlled mobilizate (B lense)."
Drillholes RD-08-38 and RD-08-41 intersected high grade chalcopyrite-pyrrhotite zones without debris flow material. Drillhole RD-08-56, and later holes in the western portion of the deposit, have confirmed that it comprises a lower-grade northwards dipping stratabound pyrite-magnetite zone (A lense) and a separate near vertical cross-cutting high-grade copper-rich chalcopyrite-pyrrhotite lense (B lense). The mineralization in both lenses is open to the west.
The cross-cutting B lense consists of both near solid sulphide and sulphide veinlets. Previously, the B lense had been intersected by RD-08-41 with assays of 10.36% copper over 33.46 metres. The mineralized intersections in RD-08-53, RD-08-55 and RD-08-56 confirmed the existence of the B lense. These holes intersected sections of high-grade copper in near solid sulphide within significant intervals. RD-08-61 intersected 119.37 metres of sulphide veinlets and near solid sulphide within the B lense (assays pending). The most recent hole to intersect the B lense is RD-08-71 which contains 39.71 metres of near solid sulphide. Assays are also pending for this drill hole.
The Company's present understanding of the B lense is that it is near vertical, extends towards the southwest and is oriented at a moderate to high angle to the stratigraphically controlled A lense, which trends approximately east-west and dips 70-80 degrees north. On the westernmost section drilled to date, the B lense is located approximately 50 to 75 m south of the A lense. vmsventures.com
Borehole EM geophysical anomalies have identified conductive targets along strike to the east and west of current drilling. A recent Induced Polarization (IP) geophysical survey in the area of the Discovery Zone indicates the presence of an anomaly that is interpreted to be the westward extension of the B lense. Additional surface and borehole geophysical surveys are planned to assist in targeting the mineralization at depth and along strike to the west.
All technical information in this release has been reviewed by Dr. George Gale, P.Eng., Vice President, VMS Ventures Inc.
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
The TSX Venture exchange does not accept responsibility for the adequacy or accuracy of this release.
Contact:
Contacts:
VMS Ventures Inc.
Keith Patey
Director of Communications
(604) 986-2020 or Toll Free: 1-866-816-0118
(604) 986-2021 (FAX)
Website: vmsventures.com
Coal Harbor Communications
Dale Paruk
(604) 662-4505 or Toll Free: 1-877-345-3399
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Source: VMS Ventures Inc. |
