NEWSFeb 19, 2008 06:30 ET
VMS Ventures Inc.-Holes RD 08-25, RD 08-26 and RD 08-30-30 Intersect Near Solid Sulphides: Assays Now Pending on 7 Holes
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 19, 2008) - 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:
Hole RD 08-25: 2.35m (7.70 ft) of Near Solid Sulphide, Assays Pending
Hole RD 08-26: 24.86m (81.56 ft) of Near Solid Sulphide, Assays Pending
Hole RD 08-30: 22.68m (74.40 ft) of Near Solid Sulphide, Assays Pending
Drill hole RD08-26 intersected 4 different zones of NSS over a core length of approximately 70 m. The repetition of NSS in drill hole RD08-26 may be due to folding or faulting.
Drill holes RD08-24 and RD08-28, like drill holes RD08-18 and RD08-19, appear to have been drilled over the top of the sulphide body into the barren hanging wall rocks.
REED LAKE DRILL HOLE DETAILS
--------------------------------------------------------------------------
DRILL FROM TO Cu Zn Au Ag
HOLE (m) (m) INT % % g/t g/t DHP STATUS
--------------------------------------------------------------------------
RD08-23 Drilling
--------------------------------------------------------------------------
RD08-24 NSI
--------------------------------------------------------------------------
RD08-25 Drilling
--------------------------------------------------------------------------
RD08-26 62.65 64.05 1.40 NSS
--------------------------------------------------------------------------
RD08-26 66.28 69.84 2.56 NSS
And
--------------------------------------------------------------------------
RD08-26 73.40 82.85 9.45 NSS
And
--------------------------------------------------------------------------
RD08-26 122.45 133.90 11.45 NSS
And
--------------------------------------------------------------------------
RD08-27 Not Drilled Yet
--------------------------------------------------------------------------
RD08-28 Complete
--------------------------------------------------------------------------
RD08-29 Not Drilled Yet
--------------------------------------------------------------------------
RD08-30 136.70 159.38 22.68 NSS
--------------------------------------------------------------------------
RD08-31 Not Drilled Yet
--------------------------------------------------------------------------
RD08-32 124.85 NSS
--------------------------------------------------------------------------
NSI equals No Sulphide
NSS equals Near Solid Sulphide
The true thickness of the intervals is not known.
Drill Holes RD08-22 and RD08-26 have been logged, sampled sent for assay. Drill holes RD08-25 and RD08-30 are being logged and drill hole RD08-32 is still being drilled.
Vice President of Exploration, Dr. George Gale states: "Drilling continues to provide near solid sulphide intervals (NSS) over substantial thicknesses in drill core. Local folding and faulting are complex and consequently the deposit geometry is complex in this area. For example, the presence of magnetite above NSS in several of the recent holes, instead of below the sulphide as in the earlier holes, suggests that the deposit is tightly folded in the area of drilling. The next few drill holes are located to the southwest of recent drilling and are designed to intersect the deposit at depths of 100 to 150m."
DRILL HOLE COORDINATES AND DATA
---------------------------------------------------------------------
DRILL EOH
HOLE Northing Easting (m) DIP AZIMUTH STATUS
---------------------------------------------------------------------
RD08-23 6048775 393978 -45 degrees 045 In progress
---------------------------------------------------------------------
RD08-24 6048838 393916 209.39 -45 degrees 045 045
---------------------------------------------------------------------
RD08-25 6048765 393914 -45 degrees 045 In progress
---------------------------------------------------------------------
RD08-26 6048838 393916 145.39 -60 degrees 045 Assays Pending
---------------------------------------------------------------------
RD08-27 Not drilled yet
---------------------------------------------------------------------
RD08-28 6048845 393875 124.05 -45 degrees 045 045
---------------------------------------------------------------------
RD08-29 Not drilled yet
---------------------------------------------------------------------
RD08-30 6048845 393875 273.41 -60 degrees 045 045
---------------------------------------------------------------------
RD08-31 Not drilled yet
---------------------------------------------------------------------
RD08-32 6048819 393835 -45 degrees 045 In progress
---------------------------------------------------------------------
Geophysical crews are back onto the property to complete the DEEP EM survey over the newly cut geophysical grid and have now completed about one-third of the grid at this time. Down hole geophysical surveys will be begin when this surface work is complete.
Geotech has now completed flying the 2008 VTEM survey over the Discovery Zone in a north-south direction to provide better definition of the geophysical anomalies identified during the initial survey in March, 2007. The Company's geophysical consultant is currently evaluating the data.
One of the three drills currently on the Discovery Zone is scheduled to begin testing other anomalies north of the discovery on the Reed Project as soon as its current hole is completed. Due to the recent intensely cold weather, new roads to these new drill sites have been packed and are ready for immediate use.
All technical information in this release has been reviewed by the Qualified Person, Dr. George Gale, P.Eng. All samples have been 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.