The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting.
Junior miner VMS Ventures says permits have been received and drill tenders are in progress for a winter drilling program on its Snow Lake area properties. Work permits have been received for all of the properties. Some permits have restrictions, including the use of existing winter roads to limit new winter road development. Some projects will be drilled by skid mounted equipment, while others will be drilled with a helicopter supported lighter weight 'fly drill' where road access is not available. 'This winter's freeze-up has come early and the conditions are excellent for our Manitoba drilling program,' said Neil Richardson, chief-operating officer of the Vancouver-based company. 'All of these targets are on our 100-per-cent-owned ground, so we are excited to get the drills turning. I expect the program will be completed before the end of April.' Diamond drilling tenders have been sent out to drill contractors. The drill contract should be awarded on Jan. 31, with drilling planned to start on Feb. 6. The program is budgeted at about $1.2 million and includes the drilling of between 3,000 and 3,400 metres in 16 to 20 holes. All target areas are within the Snow Lake region. The Reed East and Reed West properties are adjacent to the Reed mine site, which is owned 30 per cent by VMS and 70 per cent by the mine operator, Hudbay. At the Reed mine, situated outside Snow Lake, Hudbay is gearing up for initial production by the fourth quarter of 2013 and full production by the first quarter of 2014. As of Nov. 30, Hudbay had invested about $19.7 million of its $72 million capital construction budget at Reed. It had entered into an additional $17.8 million in commitments for the project. Capital expenditures at Reed are expected to total some $44 million in 2013. After completion of the first portal development round in October, the underground ramp has advanced about 72 metres. Hudbay has submitted the Environmental Act licence application for Reed to the Manitoba government. VMS's other properties within the Snow Lake region include the Copper, McClarty Lake, Sails Lake, Puella Bay and Morton Lake projects. Outside of that region, VMS holds properties near Lynn Lake and Leaf Rapids. The company has also optioned three properties in the Sudbury area of Ontario. Neither the TSX Venture Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of information supplied by VMS. _ Compiled from VMS Ventures and Hudbay news releases
