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.
Jonathon Naylor Editor Site preparation is now ongoing for the underground development of the Reed copper mine near Snow Lake. VMS Ventures, which owns 30 per cent of the property, said trenching for the portal entrance has begun, an office trailer has been mobilized to the site and other surface infrastructure has been established. 'The trenching of the portal entrance at Reed has begun and represents the first milestone in bringing this deposit to commercial production,' Neil Richardson, chief operating officer of the Vancouver-based junior miner, said in a news release. VMS announced last week the results of its winter drilling program at the site, known as the Reed Copper project, as well as the Reed North project, also near Snow Lake. At the Reed Copper project, one hole was completed and another abandoned due to deteriorating ice conditions. In the Reed North area, two holes were completed and two others were abandoned. Richardson said the company was disappointed that one Reed Copper hole had to be abandoned. 'Interesting' Drilling at Reed North, meanwhile, 'continues to show interesting intersections, but no significant lenses have been discovered to date,' he said in the release. Hudbay is the operator of both the Reed Copper and Reed North projects. Earlier this month, VMS and Hudbay announced a positive pre-feasibility study on the Reed Copper project. Highlights included production commencing in the third quarter of 2013 with an average expected reserve grade of 3.83 per cent copper with a 94 per cent recovery rate. Both companies have entered into option agreements that grant HudBay the right to earn a 70 per cent interest in properties held by VMS and adjacent to the Reed Copper property. Neither the TSX Venture Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of information supplied by VMS.
