Jan 12 2011
VMS Ventures Inc. (TSX VENTURE:VMS) has announced that drilling of base metal and gold targets on its Sails Lake property is complete.
Drill hole SA-10-007 intersected the Long Zone mineralization 75 metres below historical trenching that returned 14.0 metres of 1.70 g/t gold. No historical drilling was performed on this target.
Neil Richardson, VMS' Chief Operating Officer states: "We are obviously pleased with the results of hole SA-10-007. They indicate the potential for a low grade – bulk tonnage deposit on our Sails Lake project, though it should be noted that some very high-grade gold was intersected within the mineralized interval. High-grade gold mineralization has also been discovered in outcrop elsewhere on the property from historic exploration and these occurrences will be investigated in subsequent programs. The mineralization of the Long Zone consists of disseminated blebs, specks and bands of arsenopyrite within a silicified – albitized alteration halo in a diorite host rock. Additional geophysical, geological and geochemical surveys and diamond drilling are now being planned for early Q2 2011."
The original drill target was based on the presence of a mineralized outcrop exposed in a trench with coincident induced polarization chargeability anomalies and strongly elevated Mobile Metal Ions soil geochemical anomalies. A follow-up 3D IP survey, detailed surface rock and soil geochemical surveys and geological mapping are being planned for the next stages of exploration on the property. There are several additional surface gold showings on the property which will be examined in greater detail as a result of the drilling success at the Long Zone. Drill core is being sampled for thin sections to confirm the mineralogical siting of the gold mineralization. High precision trace element geochemistry will also be undertaken to determine the original rock type hosting the gold mineralization and to assist geological mapping on the property.
The Sails Lake property is located 25 km east of the mining community of Snow Lake, Manitoba and consists of 8 claim blocks covering an area of approximately 1900 hectares. The diamond drilling program tested multiple base and precious metal targets with ten (10) holes drilled for a total of 1967.31 metres. This program is independent of the drill program, and other activities at the Reed Lake deposit, operated by HudBay Minerals Inc. (HBM: TSX) under a Joint Venture agreement announced July 6, 2010.
Sails Lake base metal drilling program (holes SA-10-001 – SA-10-006A) focused on electromagnetic and magnetic anomalies within favourable volcanic host rocks. Although the program was successful in explaining these anomalies, no economic mineralization was intersected.
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 BQ size. The core was logged and mineralized intersections were marked for sampling and assaying by geologists and geotechnicians employed by VMS Ventures Inc. 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. Chemical analyses reported in this press release were performed by TSL Laboratories in Saskatoon. Base metals were analyzed through atomic absorption spectrometry after a multi-acid digestion whereas gold was analyzed by fire assay Atomic Absorption using a 30g charge, with gravimetric finish for assays greater than 3 g/t. Sampling and analytical procedures are subject to a comprehensive Quality Assurance and Quality Control program that includes duplicate samples, blanks and analytical standards.
Source: VMS Ventures Inc.