VMS VENTURES INITIATES LINE CUTTING AND GROUND
GEOPHYSICAL SURVEYS AHEAD OF A SPRING DRILL PROGRAM AT ITS 100%OWNED COPPER
PROJECT NEAR SNOW LAKE, MANITOBA; DRILLING HALTED AT THE TOWER ZONE
March 25, 2010
Vancouver, B.C., March 25,
2010. VMS Ventures Inc. (TSX-V: VMS) (the “Company”) is pleased to report that
its 100% owned Copper Project will be the focus of the Company’s next drill
program, expected to begin before the end of April, 2010. As well, the Company,
with the signing of the Letter of Intent (LOI) with HudBay Minerals (TSX: HBM)
as announced March 4, 2010, has halted its phase 2 drill program at the Tower
Zone. The LOI with HudBay contemplates the optioning of certain exploration
properties in the Reed Lake area and, so, VMS has stopped exploration on those
properties during final negotiations.
Copper Project
The Company is now
conducting line cutting and ground geophysical surveys of selected target areas
on its 100% owned Copper project, in preparation for drill testing.
The Company anticipates the next drill program will commence following spring
break-up. More details on targeting, and related maps and images, will be made
available ahead of drilling commencing.
The Copper project is a 30
km trend with several known base metal massive sulphide-type deposits identified
by historic drilling, but without previous production. The project is believed
to be highly prospective for the discovery of additional base metal
mineralization at relatively shallow depths. Traditional exploration in the area
has been frustrated by a thin cover of younger carbonate rocks which conceal the
Flin Flon – Snow Lake greenstone belt and its contained mineralization.
VMS’ exploration of the
property over the past three years has resulted in the identification of a large
number of airborne EM and magnetic geophysical anomalies across the 30 km length
of the property. The Company’s work has focused on reducing the numerous targets
to several higher priority areas based on integrated geophysics and soil
geochemistry.
The Copper Project is
located approximately 45 km by paved highway east of the Company's Reed Lake
discovery. It is 30 km southeast of the mining community of Snow Lake, where
HudBay Minerals operates a mill and concentrator and where the development and
exploration of the Lalor Lake zinc-copper-gold-silver deposit is ongoing. Access
to the northern end of the property package is via a paved highway.
All technical information in this release has been reviewed by Dr. Mark
Fedikow, P.Geo. the Qualified Person, Vice President of Exploration and
Technical Services and Director of VMS Ventures Inc.
VMS Ventures Inc. currently has
a profile on Corebox.net which is updated as soon as assay results are released.
The link to visit our Corebox profile is:
http://www.corebox.net/properties/reed_lake/.
Investors are invited to visit
the VMS Ventures IR Hub at http://www.agoracom.com/IR/VMSVentures
where they can post questions and receive answers or review questions and
answers already posted by other investors. Alternatively, investors are able to
e-mail all questions and correspondence to
VMS@agoracom.com where they can also request to be added to the investor
e-mail list to receive all future press releases and updates in real time.
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 Nickel Belt project and the
South Bay nickel-copper-cobalt PGE 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
For further information contact:
|
Keith Patey,
Director of Communications
Telephone: (604) 986-2020
Toll Free: 1-866-816-0118 |
Dale Paruk
Coal Harbor Communications
Telephone: (604) 662-4505
Toll Free: 1-877-345-3399 |
The TSX Venture exchange does not accept responsibility for the
adequacy or
accuracy of this release.
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