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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: E. Charters who wrote (92830)	9/24/2007 10:26:30 AM
From: koan	Read Replies (1) \| Respond to of 313034

Here is the VMS NR-what do you think? I like that it is near Hudson Bay. Hud Bay may just take them out if they have something. Hud bay is flush with cash: VMS Ventures Inc (C-VMS) - News Release VMS Ventures finds new VMS mineralization at Reed Lake 2007-09-17 06:38 ET - News Release Shares issued 59,133,326 VMS Close 2007-09-14 C$ 0.22 Mr. John Roozendaal reports VMS VENTURES INC. EXPLORATION UPDATE AT REED LAKE PROPERTY, MANITOBA VMS Ventures Inc. had made what appears to be a significant discovery of volcanogenic massive sulphide (VMS) mineralization approximately 15 kilometres west of the former Spruce Point mine and 1,200 metres south of HudBay Minerals Highway zone. The property is located 52 kilometres southwest of the mining community of Snow Lake, Man. Hole 1, drilled from southeast to northwest, intersected veinlets and disseminations of pyrrhotite, chalcopyrite and pyrite over a core interval of 37.5 metres between 132 and 169.5 metres in strongly chlorite-altered rock. Assay results from this alteration zone material contained a number of analyses with more than 0.2 per cent Cu locally throughout the zone of alteration in 0.5-metre-to-0.75-metre intervals. Also, two samples were over the limit of 1 per cent Cu, returning 2.67 per cent Cu over one metre and 2.11 per cent Cu over 0.5 metre, respectively. Hole 2, also drilled from southeast to northwest, intersected altered rocks similar to those found in hole 1 in the upper part of the hole and then 34 metres of near-solid sulphide between 206.25 and 240.25 metres as well as a second zone of near-solid sulphide of 1.25 metres from 248 to 249.25 metres. The 34-metre sulphide interval includes a 10.5-metre section of near-solid pyrrhotite and chalcopyrite and an 11.75-metre section of near-solid pyrite with visible sphalerite. Magnetite occurs both within the pyrite-rich section, and as a discrete layer below the pyrite section. A 2.5-metre chert section occurs below the magnetite layer and above the unmineralized basalt at the end of the hole. This mineral assemblage and its relative position in the core are typical of that found in volcanogenic massive sulphide (VMS) deposits. Hole 3, drilled from northwest to southeast, intersected near-solid-to solid pyrite between 176.8 and 179.53 metres. Pyrite, visible sphalerite and chalcopyrite are present in this sulphide lens. Both magnetite and chert layers similar to those intersected in hole 2 occur uphole from the pyrite-rich zone. This hole entered a younger unmineralized mafic intrusion immediately below the pyrite section and remained in this unit to the end of the hole which was abandoned at 234.53 metres. The true thickness of these mineralized sections is unknown. Assay results for drill hole 2 are expected by the end of the month. Holes 4 and 6 were drilled one kilometre and hole 5 was drilled 1.5 kilometres east of the new discovery. These holes also intersected alteration and pyrite mineralization that are typical of those associated with VMS deposits; however, the cores contained only trace amounts of sphalerite and chalcopyrite. A total of 1,510 metres of drilling were completed in the first round of drilling. Digital photographs of drill core can be viewed on the company's website. The target tested by holes 1-3 is in part on the property package under option from Hudson Bay Exploration and Development Co. Ltd., subsidiary company of HudBay Minerals. The targets tested by hole 4 to hole 6 are located on a claim optioned from W. Bruce Dunlop Ltd. (NPL). The tested targets are approximately 15 kilometres west of the former Spruce Point mine and approximately 52 kilometres southwest of Snow Lake, Man. The program targeted three separate VTEM anomalies in the southern portion of the claims where high ground permits access during the summer months. The company will be initiating a larger drill program as soon as drills are available to further define these highly encouraging results and to test other prospective targets in the area. All technical information in this release has been reviewed by Dr. George Gale, PEng, the qualified person, vice-president of exploration and director of VMS Ventures. All samples have been prepared and analyzed at TSL Laboratories in Saskatoon, Sask., using ICP-MS and aqua regia analytical methods.