October 4, 2007
Volcanogenic Massive Sulphide mineral deposits
have long been recognized as potential “elephant’ country in the mining world.
One junior mining company involved in the search for and development of this
type of project is Vancouver-based “VMS Ventures Inc.”
The company’s focus is the acquisition, exploration, and development of copper,
nickel and zinc properties in the Flin Flon - Snow Lake VMS Belt and they also
hold the largest land package considered prospective for nickel-copper
mineralization at Lynn Lake, which to date has been Canada’s third largest
nickel producing camp.
Copper, Nickel and zinc have enjoyed substantial price rises in recent years
with copper soaring from about US$.60 to near US$3.75 in early autumn 2007 while
nickel has increased from under US$3.00 to over US$13.00 per pound in the same
time frame and zinc has enjoyed a six-fold increase from near US$.25 to over
US$1.50. Mining analysts note that tremendous economic growth in China and India
with their massive population has resulted in a steady increase in the demand
for base metals, which has been reflected in those prices.
The company’s focus of late has been the Snow Lake area where three separate
projects, Reed Lake, Sails Lake and the Cover Project are being explored.
Results from recent drilling at Reed Lake have been encouraging and the company
was able to issue a news release in mid-September 2007 informing the mining
community that they had encountered, “…what appears to be a significant
discovery of volcanogenic massive sulphide (VMS) mineralization approximately 15
km west of the former Spruce Point Mine…”
The present drill program, combined with soil geochemical sampling over areas
which had been identified by prior VTEM airborne surveying, will be used to
identify target areas for the fall and winter 2007/2008 drill programs. Drill
programs are either underway or planned for Lynn Lake and Sail Lake as well. The
company was also able to announce that they had entered into an option agreement
with Hudson Bay Minerals, Inc. whereby it can earn a 100% interest in two
additional claim blocks near Snow Lake, contiguous to the Reed Lake project.
In addition to the copper-nickel-zinc projects, the company has also optioned
the Eden Lake Uranium-Rare Earth Elements (REE) Property which is presently
undergoing evaluation for future exploration programs.
REE offer a particular opportunity because, at present, fully 90% of production
of these elements comes from Communist China and the economic and political
advantages which would accrue to a North American REE mine could be particularly
significant. Rare Earth Elements are used in a number of hi-tech applications
involving batteries, specialty alloys and advanced military weaponry.
VMS Ventures is led by an experienced and knowledgeable management team which
includes Rick Mark, CEO and Chairman; John A. Roozendaal, President; Dr. George
H. Gale, VP Exploration and Keith Patey, Director of Communications.
VMS Company Website :
www.vmsventures.com
