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.
VMS Ventures says it is encouraged by follow-up testing from a new high-grade copper zone near Snow Lake. The Vancouver-based junior miner is calling the property its "Super Zone." It is located 1.8 kilometres from its much-touted Reed copper deposit. The Super Zone is part of a parcel of four property packages near Reed that are under option to HudBay Minerals. Four drill holes were recently completed. Two holes were on the Super Zone property and two others were on the Northwest Zone property. The two Super Zone holes tested a high-grade copper zone discovered in a hole drilled in May. VMS said the first hole intersected two zones of mineralization: one that is 2.23 metres long and averaging 5.94 per cent copper, occurring from 121.75 to 123.98 metres down the hole; and one that occurs from 214.20 to 238.90 metres down the hole. This broad, 24.70-metre interval averaged 0.21 per cent copper and 1.18 per cent zinc. As for the second hole, it intersected chlorite schist, possibly related to a hydrothermal alteration halo. Neither Northwest Zone hole encountered economic mineralization. A borehole pulse electromagnetic survey of one of the holes did, however, detect an anomaly close to the hole that will be followed up later this summer, VMS said. 70 per cent HudBay has the right to earn a 70 per cent joint venture interest in the option properties. Two drills continue to work the option properties concentrating on the high-grade copper zone, other geophysical anomalies as well as targets associated with the Reed deposit. "We are pleased with the results to date on this high-grade copper discovery," said Neil Richardson, chief operating officer of VMS. "HudBay has now completed four holes and three of them have returned significant results. Drilling will continue to focus on this area where the geophysical anomaly associated with the mineralization has been traced over a one-kilometre length." Neither the TSX Venture Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of information supplied by VMS. Ð Compiled from a VMS Ventures news release.
