VMS Ventures Drills 13.41 Metres of 1.48 g/t Gold; Outlines Gold Mineralization
posted on
Jun 08, 2011 01:58PM
Recent Results Include 6.69% Copper Over 71.69 Metres and 3.74% Copper Over 21.77 Metres
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 8, 2011) - VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS") is pleased to announce that drilling of seven holes for a total of 1,594 metres on its 100% owned Sails Lake property is complete. This second Sails Lake program focused on defining the Long Zone mineralization that was announced on January 11, 2011 featuring drill hole SA-10-007, that intersected 58.89 metres of 1.21 g/t Au. (http://www.vmsventures.com/Newsroom/Press-Releases/Press-Release-Details/2011/VMS-Ventures-Reports-5889-Metres-of-121-gt-Gold-Including-989-Metres-of-513-gt-Gold-in-Diamond-Drill-Hole-SA-10-007-Sails-Lak/default.aspx)
The seven diamond drill holes targeted the Long Zone mineralization over a strike length of 250 metres and to a depth of 150 metres below surface. Hole SA-11-015 returned 13.41 metres of 1.48 g/t Au, SA-11-013 returned 38.79 metres of 0.68 g/t Au, and SA-11-014 returned 9.50 metres of 0.93 g/t Au. See assay table below for details on additional drill holes.
Neil Richardson, VMS' Chief Operating Officer, states: "I am pleased with the results from this phase of drilling on the Long Zone. These results confirm our geological model and indicate that a low grade gold system is associated with the Long Zone target. The mineralization of the Long Zone consists of disseminated blebs, specks and stringers of arsenopyrite within a feldspathic altered tonalitic host rock. Trenching and geological mapping is scheduled for the summer. Additional target zones with coincident chargeability and resistivity anomalies will also be reviewed later this summer."
This second drill program was based on follow-up of drill hole SA-10-007 and the presence of a mineralized outcrop exposed in a trench with coincident induced polarization chargeability anomaly and strongly elevated Mobile Metal Ions soil geochemical anomalies. A follow-up 3D IP survey was completed in March and the initial pseudo-sections of chargeability and resistivity were georeferrenced into Gemcom for planning purposes. Holes were fan drilled from three set-ups to cover the prospective area along 250 metres of strike and to a depth of 150 metres. There are several additional surface gold showings on the property which will be examined in greater detail as a result of the drilling success at the Long Zone.
Sails Lake Assay Data – Long Zone (uncut)
HOLE-ID | FROM | TO | LENGTH | AU g/t | COMMENTS |
SA-11-015 | 98.59 | 112.00 | 13.41 | 1.48 | |
SA-11-013 | 73.21 | 112.00 | 38.79 | 0.68 | |
SA-11-013 | 73.21 | 81.00 | 7.79 | 1.68 | including |
SA-11-013 | 85.72 | 89.80 | 4.08 | 1.02 | including |
SA-11-013 | 96.87 | 100.84 | 3.97 | 0.75 | including |
SA-11-013 | 105.90 | 112.00 | 6.10 | 0.85 | including |
SA-11-014 | 125.15 | 134.65 | 9.50 | 0.93 | |
SA-11-014 | 146.00 | 148.33 | 2.33 | 2.05 | |
SA-11-014 | 173.14 | 174.87 | 1.73 | 0.86 | |
SA-11-010 | 29.90 | 31.50 | 1.60 | 1.13 | |
SA-11-010 | 165.00 | 165.81 | 0.81 | 1.10 | |
SA-11-011 | 53.78 | 56.34 | 2.56 | 2.58 | |
SA-11-016 | 35.56 | 36.00 | 0.44 | 2.02 | |
SA-11-012 | No Significant Assays | ||||
SA-11-017 | No Significant Assays | ||||
True widths unknown |
Sails Lake Collar Information
HOLE Number | UTM Easting (1) | UTM Northing (1) | UTM Elevation (1) | LENGTH | Azimuth (2) | Dip |
SA-11-010 | 466357 | 6083781 | 293 | 224 | 146 | -50 |
SA-11-011 | 466357 | 6083781 | 293 | 233 | 175 | -50 |
SA-11-012 | 466357 | 6083781 | 293 | 263 | 180 | -45 |
SA-11-013 | 466421 | 6083775 | 296 | 182 | 180 | -50 |
SA-11-014 | 466421 | 6083775 | 296 | 209 | 180 | -70 |
SA-11-015 | 466421 | 6083775 | 296 | 182 | 155 | -45 |
SA-11-016 | 466421 | 6083775 | 296 | 209 | 133 | -45 |
SA-11-017 | 466274 | 6083803 | 288 | 92 | 180 | -45 |
(1) Universal Transverse Mercator / North American Datum 1983 / Zone 14 | ||||||
(2) "Azimuth" is degrees from True North |
The Sails Lake property is located 25 km east of the mining community of Snow Lake, Manitoba and consists of 8 claim blocks covering an area of approximately 1900 hectares. Seven (7) diamond drill holes were completed for a total of 1,594 metres in this second phase of drilling. Additional follow-up work on this project is scheduled for July with mechanical trenching, prospecting and additional geochemistry.
This program is independent of the drill program, and other activities at the Reed Lake deposit, operated by HudBay Minerals Inc. (TSX:HBM) under a Joint Venture agreement announced July 6, 2010.
For additional details on exploration on our Sails Lake property, see VMS' press releases issued between January 24, 2007 and October 6, 2010, available atwww.vmsventures.com.
Qualified Person
All technical information in this release has been reviewed by Dr. Mark Fedikow, P.Geo, who is the Qualified Person for the Company and Vice President of Exploration and Technical Services, VMS Ventures Inc.
Quality Assurance and Quality Control
Exploration core drilling was BTW size. The core was logged and mineralized intersections were marked for sampling and assaying by geologists and geotechnicians employed by VMS Ventures Inc. The marked intersections or intervals were sawn in half by a diamond saw and one half of the core was placed in plastic bags and tagged with unique sample numbers, while the second half was returned to the core box and stored. Chemical analyses reported in this press release were performed by TSL Laboratories in Saskatoon. Gold was analyzed by fire assay Atomic Absorption using a 30g charge, with gravimetric finish for assays greater than 3 g/t. Sampling and analytical procedures are subject to a comprehensive Quality Assurance and Quality Control program that includes duplicate samples, blanks and analytical standards.
About VMS Ventures Inc.
VMS Ventures Inc. is focused primarily on acquiring, exploring and developing copper-zinc-gold-silver massive sulphide deposits in the Flin Flon-Snow Lake VMS Belt of Manitoba. The Company's VMS project property portfolio consists of the Reed Lake Project, Copper Project, McClarty Lake Project, Sails Lake Project, Puella Bay Project and Morton Lake Project. Outside of the Snow Lake camp, the Company holds massive sulphide prospective properties near the past producing Fox Lake and Ruttan copper-zinc mines, near the communities of Lynn Lake and Leaf Rapids in northern Manitoba. These properties are located in the mining friendly province of Manitoba, Canada. The Company also has optioned three properties in the Sudbury mining camp. They are Terra Incognita, Golden Pine and Black Creek.
Forward Looking Statement
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. VMS Ventures Inc. undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
ON BEHALF OF THE BOARD OF DIRECTORS
John Roozendaal, President, VMS Ventures Inc.
FOR FURTHER INFORMATION PLEASE CONTACT:
Keith Patey
VMS Ventures Inc.
Director of Communications
(604) 986-2020 or Toll Free: 1-866-816-0118
www.vmsventures.com
OR
Matt Harrington
Launch IR
(613) 882-7467
OR
Dean Hanisch
Launch IR
(613) 882-7467
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.