Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Hudbay Minerals Inc T.HBM

Alternate Symbol(s):  HBM

Hudbay Minerals Inc. is a copper-focused mining company. The Company has operations and pipeline of copper growth projects in tier-one mining-friendly jurisdictions of Canada, Peru, and the United States. The Company’s operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba (Canada) and the Copper Mountain mine in British Columbia (Canada). Its growth pipeline includes the Copper World project in Arizona, the Mason project in Nevada (United States), the Llaguen project in La Libertad (Peru) and several expansion and exploration opportunities near its existing operations. The Company owns 75% of the Copper Mountain Mine, which is located south of Princeton, British Columbia. Copper Mountain Mine is a conventional open pit, truck, and shovel operation. The mine has approximately 45,000 tons per day plant that utilizes a conventional crushing, grinding and flotation circuit to produce copper concentrates with gold and silver credits.


TSX:HBM - Post by User

Bullboard Posts
Post by freeedom45on Feb 23, 2011 7:37am
600 Views
Post# 18178469

Reed Lake

Reed Lake

VMS Ventures drills 5.60% Cu over 37.1 m at Reed Lake

2011-02-23 07:26 ET - News Release

Mr. John Roozendaal reports

VMS REPORTS 37.10 METRES OF 5.60% COPPER FROM IN-FILL HOLE RLD024 AT REED LAKE JOINT VENTURE

VMS Ventures Inc. has released the latest drill and assay results from the infill diamond drill program at the Reed Lake copper-zinc-gold-silver deposit, near Snow Lake, Man., Canada. These latest results including holes RLD023 to RLD026, were testing Zone 20. The in-fill program for the upper two lenses is now complete and the next in-fill drilling will focus on Zone 10 between the 300 and 530 metre levels.

Reed Lake Joint Venture Results

Two drills are currently operating at the Reed Lake Joint Venture site. Both drills are conducting in-fill drilling on the copper-rich lens (Zone 10) to define the extent of mineralization up-plunge from hole RLD015. This drill hole intersected significant copper mineralization and was announced in a press release dated December 10, 2010.

Neil Richardson, VMS' Chief Operating Officer states: "We are pleased with the latest results for the upper lenses (Zones 20 and 30) that confirm the extent of mineralization and provide us with definition required to complete a resource estimate. Geological models are being updated in preparation for a NI 43-101 technical report slated for completion in the latter part of Q1 2011."

The program is the first phase of drilling at the Reed Lake project under a joint venture formed between VMS and HudBay Minerals Inc. (TSX: HBM)(NYSE: HBM) ("HudBay"). The Reed Lake deposit is a base metal, polymetallic, massive sulphide-type deposit and is located approximately 100 kilometres from HudBay's concentrator in Flin Flon, Manitoba. The program is proceeding on schedule with the completion of 30 drill holes.

Assays have been received for holes RLD023 to RLD026 and are tabled below:

Reed Lake Assay Data:---------------------------------------------------------------------------Hole From To Length Cu Zn Au AgNumber (m) (m) (m) % % (g/t) (g/t) Zone---------------------------------------------------------------------------RLD023 290.90 293.78 2.88 5.00 0.31 0.43 7.63 20------------------------------------------------------------------------------------------------------------------------------------------------------RLD024 189.60 226.70 37.10 5.60 0.72 0.46 6.62 20------------------------------------------------------------------------------------------------------------------------------------------------------ 156.75 184.12 27.37 4.66 0.61 0.25 4.75 20RLD025 ------------------------------------------------------------- 240.62 244.20 3.58 4.76 0.11 0.01 2.64 10------------------------------------------------------------------------------------------------------------------------------------------------------RLD026 141.14 149.49 8.35 4.93 0.86 0.36 7.90 20--------------------------------------------------------------------------- True widths unknown

On July 6, 2010 VMS and HudBay announced they had entered into a joint venture agreement in which HudBay and VMS have 70% and 30% interests, respectively, in the Reed Lake property and two claims immediately south of the deposit. The parties have also entered into four option agreements which grant HudBay the right to earn a 70% interest in properties held by VMS and adjacent to the Reed Lake property.

For additional details on exploration at the Reed Lake deposit, see VMS press releases issued between September 17, 2007 and December 10, 2008, available at www.sedar.com.

Bullboard Posts