Re: Timely Updates
in response to
by
posted on
Aug 31, 2010 10:15AM
Recent Results Include 6.69% Copper Over 71.69 Metres and 3.74% Copper Over 21.77 Metres
you cannot be serious. you really dont believe a drill is on property right now? 3 weeks after it was supposed to arrive? vms has even put out a release sinec then, if the rig did not make it, they would have added in a blurb saying so, but no use saying its been turning for 3 days, and 50 meters or w/e doesnt really tell us anything, we know the timeline from the previous drills until results and/or pictures, this time tho, vms isnt footing the bill...
"Drilling will commence with one drill on the Reed Lake deposit during the second week of August, 2010. A second drill is expected to be mobilized on the property in approximately one month. Twenty drill holes are planned for a total of 7,000 metres in this initial program.
The initial drilling program is designed to test the continuity and metallurgical characteristics of the deposit. The drill collars will be established on 40-50 metre centers to provide the necessary data to allow the completion of a National Instrument 43-101 compliant resource estimate, which HudBay has announced is scheduled for completion by the end of 2010. The drilling will be done on sections to establish the true width and strike of the deposit. Some holes, drilled previously by VMS Ventures, will be resurveyed to confirm hole location. The high-grade core of the deposit will be targeted initially, with drilling then moving outwards to explore the periphery of the deposit. Mineralization will be followed down plunge to assess exploration potential."
by the of 2010... thats 4 months to get this thing completed and believe me, more drilling is needed. no one is sitting with thumbs up asses, and no canines are being seduced..thats not to mention that release was made DURING THE SECOND WEEK OF August, i seriously doubt they would make a claim it would start that week if the rig wasnt on or very close to site.. not like its hard to get it there.. its next to a highway.
if you really dont think they are drilling as we speak, call keith.. the markets arent what they used to be, yea a few years ago you could go so far on fluffly news releases, but i also remember a time not to long ago when vms released large intercepts of high-grade copper, yet the share price still fell.. markets have changed and the VMS story is stronger than ever, going into the recession management said they would be slowling down, and kinda battering the hatches. now we got reed finalized, a JV on 4 other claims, 15 million bucks and looking at other properties.. and as mark said looking at acquisition as well.
my best guess is next news will be arrival of second rig in roughly 2 weeksish.. unless management has decided where to put its money next