Nov 19 2010
VMS Ventures Inc. (TSX VENTURE:VMS) has announced the latest drill and assay results from holes RDL005 to RDL008 inclusive of the in-fill diamond drill program at the Reed Lake Deposit, near Snow Lake, Manitoba, Canada.
These latest results were focusing on the copper and zinc rich lenses near surface and were all collared on section line 4.
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 kilometers from HudBay's concentrator in Flin Flon, Manitoba. The program is proceeding on schedule with 22 holes now completed.
RLD005 was collared at -76º and was drilled below the plunge of zone 20. Assays have been received for holes RLD005 to RLD008, drilled from section line 4.
Neil Richardson, VMS' Chief Operating Officer, states: "We are pleased with the continued success in outlining mineralization from drill section line 4 at Reed Lake. The high-grade copper lens has significant thickness and down plunge potential that requires additional step out holes. We look forward to HudBay continuing their definition of the deposit in preparation for a National Instrument 43-101 mineral resource estimate, which HudBay has stated is targeted for early 2011."
Reed Lake Collar Information
On July 6, 2010 VMS and HudBay announced that they had entered into a joint venture agreement pursuant to which HudBay has a 70% interest and VMS has a 30% interest in the Reed Lake property and the two claims immediately to the south. The parties have also entered into four option agreements which grant HudBay the right to earn a 70% joint venture interest in properties held by VMS adjacent to the Reed Lake property.
Sails Lake Gold - Base Metal Project:
Drilling is on-going at the Sails Lake project located 25 kilometers east of the mining community of Snow Lake, Manitoba. We have completed seven base metal targets and are currently drilling our second gold target. Results from this program will be published in early January 2011 when all the analytical results have been compiled.
Qualified Person
All technical information in this release has been reviewed by Dr. Mark Fedikow, P.Geo, who is the Qualified Person for the Company and Vice President of Exploration and Technical Services, VMS Ventures Inc.
Quality Assurance and Quality Control
Exploration core drilling was NQ size. The core was logged and mineralized intersections were marked for sampling and assaying by geologists and geotechnicians employed by HudBay's Hudson Bay Exploration and Development Company Limited (HBED) subsidiary. The marked intersections or intervals were sawn in half by a diamond saw and one half of the core was placed in plastic bags and tagged with unique sample numbers, while the second half was returned to the core box and stored. Each bagged core sample was transported to HudBay's Hudson Bay Mining and Smelting Co., Limited (HBMS) subsidiary's assay laboratory in Flin Flon, Manitoba where it was dried, crushed and pulverized and a 250-gram sample was prepared for assaying at Acme Analytical Laboratories Ltd., an independent company in Vancouver, B.C., or the HBMS assay laboratory. From each 250 gram sample 0.25 grams was removed and leached in aqua regia and analyzed by ICP-AES for Ag, Cu, Zn, As, Pb, Ni and Fe. Also from the 250 gram sample, 30 grams was removed for gold determination by fire assaying with an ICP-AES or gravimetric finish at the Acme laboratory or an Atomic Absorption or gravimetric finish at the HBMS laboratory.
Assaying integrity is monitored internally with a quality control program, which includes the use of assay sample standards, blanks, duplicates and repeats and externally through national and international programs. In addition, within each group of 20 core samples, one core sample has a second 250 gram split collected that was check assayed at a different laboratory, either the HBMS laboratory in Flin Flon or at the Acme laboratory in Vancouver, B.C. This news release provides core lengths and estimates of vertical thickness only. True widths are not provided. Where metal assays are provided for intersections they are either a single assay of a sample of the entire intersection length or a composite of assays calculated from interval weighted assays over the intersection length.
Source: VMS Ventures Inc.