GREY:VMSTF - Post by User
Post by
axegirl1on Jul 07, 2011 3:48pm
594 Views
Post# 18807953
Multiple deposits suspected-more assays on the way
Multiple deposits suspected-more assays on the wayDear VMS Followers,
Today we reported that HudBay Minerals has completed its expenditure requirement for the first year of the Option agreement for the four properties which surround the Reed Copper Project Joint Venture Property. In excess of $900,000 was spent in the year and we expect HudBay to continue their exploration into years 2 and 3. The results have thus far been very encouraging, highlighted by the discovery of high grade copper mineralization just 2 km north of the Reed Copper Deposit. As these deposits tend to form in clusters resulting in multiple deposits, we believe this drill intercept is strong evidence for the potential that multiple deposits may have formed here as well.
As Neil Richardson our COO states in the release, HudBay is continuing its exploration with two diamond drills dedicated to the property testing geophysical and geological targets on the Option properties. We expect assay results from the on-going drilling to be available in the next few weeks so watch for more results to come this summer.
Please feel free to contact us at our North Vancouver office with any questions you may have on our toll free line at 1-866-816-0118.
Sincerely,
John Roozendaal
President
VMS Ventures Inc.