VANCOUVER, BRITISH COLUMBIA -- 03/20/08 --
VMS Ventures Inc. (TSX VENTURE: VMS) (the Company) is pleased to report an update of its ongoing exploration program at the Reed Project Discovery Zone near Snow Lake, Manitoba.
Highlights:
RD-08-26: 21.15m (69.39 ft) grading 2.57% Cu, 3.13% Zn
- Including: 3.56m (11.68 ft) grading 7.13% Cu, 2.80% Zn
- Including: 9.45m (31.00 ft) grading 2.57% Cu, 7.22% Zn
RD-08-22: 25.67m (84.22 ft) grading 0.96% Cu, 4.37% Zn
RD-08-29: 11.55m (37.89 ft) of Near Solid Sulphides, Assays Pending
RD-08-34: 35.73m (117.22 ft) of Near Solid Sulphides, Assays Pending
Dr. George Gale, Vice President of Exploration, states: "Drilling continues to extend the limits of the deposit. Assay data and features visible in drill core indicate that the Discovery Zone mineralization may be part of a large debris flow. The significance is that the mineralization may have slid into its present position from a peripheral source, which could potentially represent the main body of mineralization. Further evidence of this is that the intense alteration typically associated with the centre of a VMS system is lacking. The fourth phase of drill holes is underway, which are planned as deeper holes to test these observations."
TABLE I
DRILLHOLES
ASSAYS FOR RD-08-15, RD-08-22 and RD-08-26
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DRILL FROM TO INT Cu Zn Au Ag
HOLE (m) (m) (i) % % g/t g/t
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RD-08-15 260.38 262.43 2.05 3.13 0.29 0.44 9.92
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and 264.54 266.00 1.46 0.93 2.32 0.32 5.26
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RD-08-22 96.97 122.64 25.67 0.96 4.37 0.76 11.39
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RD-08-26 61.70 82.85 21.15 2.57 3.92 0.87 15.97
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inc 66.28 69.84 3.56 7.13 2.80 1.93 36.74
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and 121.85 133.90 12.05 2.98 2.65 0.86 12.19
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inc 127.70 133.90 6.20 4.16 2.82 1.06 16.75
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(i) True thickness unknown
TABLE II
DRILLHOLE INTERVAL DETAILS
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INTERVAL
FROM TO (i)
DRILLHOLE (M) (M) (M) DESCRIPTION
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RD-08-21 - - - No Sulphide
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RD-08-22 96.89 122.64 25.75 NSS
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RD-08-23 - - - No Sulphide
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RD-08-24 - - - No Sulphide
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RD-08-25 - - - No Sulphide
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RD-08-26 61.70 82.85 21.15 NSS
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inc 66.28 69.84 3.56 NSS
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and 121.85 133.90 12.05 NSS
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inc 127.70 133.90 6.20 NSS
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RD-08-27 - - - No Sulphide
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RD-08-28 - - - No Sulphide
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RD-08-29 135.00 164.25 11.25 NSS
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RD-08-30 136.70 159.38 22.68 NSS
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RD-08-31 - - - In Progress
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RD-08-32 - - - No Sulphide
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RD-08-33 Sulphide Veinlets
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RD-08-34 167.92 203.65 35.73 NSS
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(i) True thickness is unknown
TABLE III
DRILLHOLE LOCATION-EOH-DIP-AZIMUTH
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HOLE_ID NORTH EAST LENGTH DIP AZIMUTH
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RD-08-21 6048775 393978 256.22 -45 degrees 045 degrees
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RD-08-22 6048817 393940 163.67 -60 degrees 045 degrees
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RD-08-23 6048775 393978 274.02 -45 degrees 045 degrees
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RD-08-24 6048838 393916 209.39 -45 degrees 045 degrees
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RD-08-25 6048765 393914 187.00 -45 degrees 045 degrees
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RD-08-26 6048838 393916 145.39 -60 degrees 045 degrees
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RD-08-27 6048765 393914 275.00 -60 degrees 045 degrees
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RD-08-28 6048845 393875 124.05 -45 degrees 045 degrees
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RD-08-29 6048782 393893 182.37 -45 degrees 045 degrees
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RD-08-30 6048845 393875 273.41 -60 degrees 045 degrees
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RD-08-31 6048782 393893 In Progress -60 degrees 045 degrees
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RD-08-32 6048819 393835 288.63 -45 degrees 045 degrees
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RD-08-33 6048819 393835 380.06 -75 degrees 045 degrees
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RD-08-34 6048819 393835 301.30 -60 degrees 045 degrees
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Drillholes that have not intersected sulphide mineralization to date are located east of the fault intersected in holes RD-08-16 and RD-08-25 or into the hanging wall rocks above a low angle shear intersected in drillholes RD-08-18, RD-08-23, RD-08-24, RD-08-28, and RD-08-32.
There are three drills operating on the property. One drill has started Phase Four drilling on the Discovery Zone to test for mineralization down-dip of the known mineralization. Phase Four drillholes are targeted to test the potential down dip mineralization at depths of 250m to 300m beneath the surface. The other two drill rigs are now testing separate airborne geophysical VTEM anomalies located in swampy areas between 1km to 3km northeast of the Discovery Zone. These targets are not easily accessible after breakup. These drill rigs will be redeployed on the Discovery Zone in April.
An additional 65 line kilometers are now completed on the property to extend the grid to the north and east in order to follow anomalies detected at the edge of the previous survey. Down hole geophysical surveys will be conducted on the cased bore holes in the coming weeks along with a continuation of the Deep EM survey. HLEM survey results are now being received and analyzed.
All technical information in this release has been reviewed by the Qualified Person, Dr. George Gale, P.Eng. Samples are prepared and analyzed at TSL Laboratories in Saskatoon, Saskatchewan using ICP-MS and Fire Assay analytical methods.
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 has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Contacts:
VMS Ventures Inc.
Keith Patey
Director of Communications
(604) 986-2020 or Toll Free: 1-866-816-0118
(604) 986-2021 (FAX)
Website: www.vmsventures.com
Coal Harbor Communications
Dale Paruk
(604) 662-4505 or Toll Free: 1-877-642-6200
