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.
Reports of the incredible results logged from VMS VenturesÕ Reed Lake diamond drills have been like music to the educated ears of Snow LakeÕs citizenry. With every update comes fresh hope, and hearty I-told-you-soÕs. Sure they have heard it all before, but has it ever sounded this sweet or fallen upon an audience that was more receptive to a good tune? As a result, itÕs welcome news when VMSÕs President John Roozendaal says that community acceptance, support, and encouragement makes all the difference in the world, not just to junior mining companies, but to any mining company. ÒOnly areas which fully support and encourage exploration activities have a chance of ever benefiting from a discovery and mine production,Ó said the busy Roozendaal in an e-mail interview several weeks ago. ÒBeyond the good fortune of having prospective geology in the area, companies need to know that any successful discovery will be welcomed as a producer one day by the local people and community.Ó Well, thatÕs where we have a foot up on others: Snow Lake is a mining town, tried and true, through and through. And most anyone youÕd ask on the street in this hearty little hamlet of optimists would tell you straight out, ÒBring on the mines!Ó Spun off from Rare Earth Metals Corporation in 2005, VMS is a relatively new company. At that time, Rare Earth vested its gold properties into a new publicly trading subsidiary called Harvest Gold Corporation and in early 2006, they changed their company name to VMS Ventures Inc. The name stands for Volcanogenic Massive Sulphide (a mineral accumulation associated with copper and zinc) and reflects their focus on base metals. Additionally, it has some real advantages as a name. As one savvy person recently noted, ÒAnytime a potential investor or employee researches ÔVolcanogenic Massive SulphideÕ online, the name of VMS Ventures will pop up!Ó Their flagship property and claim to fame is marked by one of the largest corner posts in the history of staking. The Reed Lake property and the drills that brought its spectacular core to surface lie directly in the shadow of the Reed Lake Microwave Tower. Roozendaal noted that VMS optioned the Reed Lake claims from W. Bruce Dunlop on the initiative of their VP of Exploration, Dr. George Gale. In October of 2007, the company applied the truth test to the property when they plunged their discovery hole into the overburden and promptly filled 141 feet of core barrel with the nicest looking (4.38 per cent copper) mineralization to come out of the ground in these parts for some time. ÒCopper discoveries are typically ranked in terms of grade and size and ultimately a long list of variables,Ó Roozendaal said of the discovery. ÒI am told that the copper grades we have intersected are some of the highest and longest intervals ever reported in the camp maybe and even in Canada. That said, the size of the deposit, the other big variable, is yet to be determined, so we have a ways to go before knowing where it will rank in the history books.Ó See 'Reed' on pg. Continued from pg. The company president believes that the Reed Lake property has many of the right characteristics to make it an economical ore body, but is quick to add that there is a lot work to be done before that belief is confirmed. ÒItÕs got some very high copper grades; indications that we havenÕt found the core to the mineralizing system,Ó he explained. ÒThus there may be much more mineralization to be found yet and many more targets in the area to be tested. ÒIf, and I emphasize the word ÔifÕ, it is found to be economic, it certainly has attributes that suggest it could be developed rather quickly, such as its relatively shallow depth, near vertical orientation and proximity to infrastructure. ÒAs to who would operate the mine, I have no official position on this question. But from a personal stand point, HudBay would make the most logical partner, given their infrastructure and mining expertise advantage over other competitors. ÒThat said, copper is a world commodity and ultimately there are others who may be interested in it. First and foremost, we have (to) act in the best interests of our shareholders.Ó Still on the subject of HudBay, Roozendaal voiced concern about the prospective closure of that companyÕs Flin Flon copper smelter. From a personal perspective he felt it would be an incredible loss to Manitoba, particularly the North. ÒThe economic advantage to having a smelter within trucking distance and within our province will be lost,Ó he said, Òand ultimately raise the bar for subsequent discoveries, likely preventing many deposits from being produced. This translates into job losses, erosion of the economic base of the North, and families leaving the North.Ó Moreover, Roozendaal advised that from a company perspective, even though the loss of the smelter could somewhat reduce the economics of their discovery, copper concentrate is a world commodity and there are numerous smelters starving for feed. ÒWe have had a number of groups, particularly from Asia, who have expressed an interest in any mineralization we might have to offer,Ó he said. Although VMS, like many junior mining companies, has seen rosier times and the past few months have been challenging to say the least, their drill results have been exceptional, their land package is vast, and the inherent opportunities are infinite. They will pick and choose their targets and depending on market conditions and property obligations, Roozendaal anticipates drilling will take place on several of VMSÕs properties in the upcoming winter. Finally, Roozendaal does have some high hopes and a good feeling about Snow Lake. He closed off the interview by stating; ÒIt is our hope that we will make a significant contribution to the economic well-being of the area in the future as a result of our continuing work.Ó My Take on Snow Lake runs Fridays.
