VMS Ventures Inc. (
TSX: V.VMS,
Stock Forum) said Monday its affiliate company
North American Nickel Inc. (
TSX: V.NAN,
Stock Forum) has announced that drilling has begun on its wholly-owned Maniitsoq Project in Greenland.
VMS owns 27.5% of North American Nickel, the company said in a press release.
A minimum of 3,000 metres is planned and it will focus on testing high priority VTEM electromagnetic (EM) anomalies defined within the 70 kilometre-long Greenland Norite Belt and on following up the multiple high-grade nickel sulphide intersections drilled by NAN last year at Imiak Hill and the Spotty Hill discovery.
VMS shares were unchanged at 16 cents on Monday, leaving the company with a market cap of $20.7 million, based on 129.7 million shares outstanding. The 52-week range is 15.5 cents and 27.5 cents.