VMS Ventures Inc. reports that the first round of drilling at the Copper project has been completed and that no significant economic mineralization was intercepted in the 5 holes drilled. All geophysical targets were explained by the drill program which intersected thick sections of conductive graphite-rich sedimentary rock units. The area of the first drill program is roughly 2 km by 3 km, and is a small portion of the 35 km by 11 km Copper Project.
This first drill program focused on targets that occur on the northeast section of the property in a geological environment dominated by chemical and clastic sedimentary rocks. In the Snow Lake area these rocks host zinc-rich base metal massive sulphide-type deposits, but are not the typical volcanic host rocks to the copper-zinc deposits mined in the Flin Flon – Snow Lake camp.
Dr. Mark Fedikow, VP Exploration states: “Although the geophysical conductors identified in airborne surveys were explained, none of the targets were mineralized or significantly altered as would be expected in a volcanogenic base metal massive sulphide-type mineralizing system.”
One of the results of this initial drill program is that the Company has converted one of its Mineral Exploration Licenses within the project to claims covering untested geophysical anomalies located to the south of the recent drilling. This will reduce the holding cost of the land and allow previous work expenditures to be applied as assessment credits to the new claims. The Copper project is one of the largest land positions held by the Company in the Flin Flon – Snow Lake greenstone belt and with the conversion of this MEL to claims the land size is reduced by approximately 12% of its total area.
This summer and fall VMS exploration programs will focus on areas underlain by volcanic rocks that occur beneath the younger Paleozoic dolomite cover. These volcanic rocks typically host the base metal deposits being targeted. Company geologists are reviewing historical drill hole data for evidence in drill hole geology to compliment geophysical and geochemical survey information used to detect buried mineralization.
The Company has several exploration programs planned. These include drilling, prospecting, geochemical survey sampling and ground truthing of prospective airborne geophysical targets.
Airborne VTEM geophysical anomalies have been detected on the property. These anomalies are associated with known mineralization and host rocks typically associated with base metal massive sulphide-type deposits in the area. A number of these anomalies have coincident Mobile Metal Ion soil geochemical anomalies with them and as such will be the prime focus of drill testing in the upcoming program.
Plate modeling of airborne geophysical anomalies is complete and preliminary drill targets are defined. Historical results report both precious and base metal mineralization on the property. Precious metal results of surface gold samples in prospecting trenches report grab samples grading as high as 64.29 g/t Au and 14.52 g/t Au. Targets indicative of gold mineralization such as fault-shear zone, or fold structures, alteration and soil geochemical signatures are still being evaluated.
Base metal occurrences in surface and drill core samples of copper-zinc mineralization include an intercept of 0.55m grading 7.2% Zn, 0.12% Cu, 10.54 g/t Ag and 0.34 g/t Au in a drill hole adjacent to one of the conductors planned for drill testing this summer, and elevated zinc values in stringer sulphide mineralization elsewhere on the same conductor.
Geologists are in the field through the first part of this summer, to re-examine the host rocks as to base and precious metal targets developed from the compilation of historical data. Several base metal targets are near final stages in their evaluation. The gold targets present a more difficult challenge as this type of mineralization does not readily show itself in geophysical surveys and the property has only limited rock exposure on which to prospect this type of mineralization. Geologists will be looking closely at the soil geochemical survey results and their association with known gold occurrences on the property to assist in locating gold mineralization buried under soil overburden.
Drilling at Sails Lake is expected in August, pending approval of permits.
The Sails Lake property is located approximately 10 km east of the past-producing Osborne Lake copper-zinc-gold-silver deposit and approximately 30 km east of the mining community of Snow Lake.
A program consisting of ground truthing airborne geophysical targets and detailed mapping of mineralized trenches and favorable host rocks to base metal mineralization will be undertaken at the Morton Lake property. Mobile Metal Ion soil geochemical surveys will also be conducted over buried geophysical targets.
The property is underlain by felsic and mafic volcanic rocks that are similar in tectonic environment and chemistry to the host rocks for the past-producing Dickstone copper-zinc deposit.
The Company has recently added to its land position to the east and south of the original Morton Lake claims and now has a land position roughly 20 km in length covering mafic and felsic volcanic rocks similar to the rocks that host the Reed Lake Discovery Zone.
Airborne VTEM anomalies have been identified on the property and subsequent Mobile Metal Ion geochemical surveys completed over these conductors. The results of the two surveys are being merged to evaluate the targets for possible drill testing.
Airborne VTEM surveys have been completed and anomalous responses analyzed by Condor Geophysics of Denver, Colorado. The area is mostly covered by swamp and overburden which precludes detailed geologic mapping. The property was mapped in 2009 on a reconnaissance scale and geophysical anomalies placed into their geologic context, where possible. A winter Mobile Metal Ion survey will assess these conductors in terms of metal content in preparation for diamond drill testing.
Like the Puella East project, the Farwell Lake project area is overlain by wet organic overburden and post-volcanic dolomite cover. Airborne VTEM anomalies have been identified and Mobile Metal Ions surveys recently completed. Samples have been submitted for analysis and results will be integrated with geophysics and historic geologic observations from previous exploration programs. Drill targets will be assigned on the basis of these integrated datasets.
VMS Ventures Inc. is focused primarily on acquiring, exploring and developing copper-zinc-gold-silver massive sulphide deposits in the Flin Flon-Snow Lake VMS Belt of Manitoba. The Company’s VMS project property portfolio consists of the Reed Lake Project, Copper Project, McClarty Lake Project, Sails Lake Project, Puella Bay Project and Morton Lake Project. Outside of the Snow Lake camp, the Company holds massive sulphide prospective properties near the past producing Fox Lake and Ruttan copper-zinc mines, near the communities of Lynn Lake and Leaf Rapids in northern Manitoba. All VMS Ventures Inc. properties are located in the mining friendly province of Manitoba, Canada.