VMS Ventures Inc. is a well financed, publicly traded mineral exploration company listed on the Toronto Venture Exchange (TSX.V) under the symbol VMS.
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 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. These properties are located in the mining friendly province of Manitoba, Canada. The Company also has optioned three properties in the Sudbury mining camp. They are Terra Incognita, Golden Pine and Black Creek.
In October, 2007 VMS announced its Reed Lake Discovery Hole intercept of 43.05 metres of 4.38% copper, 1.56% zinc, 0.85 grams per tonne gold and 13.09 grams per tonne silver, including 10 metres of 11.19% copper. 73 holes were drilled through September, 2008 including hole #RD-08-41 which included 33.46 meters of 10.36% Copper, including 18.08 meters of 13.80% copper.
On July 6, 2010, VMS announced a joint venture agreement with Hudbay Minerals (TSX: HBM) to develop the Reed Lake property and the two claims immediately to the south. VMS has a 30% carried interest and HudBay has a 70% interest and will act as the operator of the joint venture. HudBay began drilling at Reed Lake in late August, 2010 and plans a 43-101 resource estimate before the end of Q1 2011 - NI 43-101 MINERAL RESOURCE FOR THE REED LAKE DEPOSIT AT 2.55 MILLION TONNES @ 4.52% COPPER IN THE INDICATED CATEGORY
The Manitoba government has approved the Reed Copper Advanced Exploration Permit ("AEP") closure plan and issued the lease of park land property for the operation of the mine development activities. The AEP allows the extraction of a 10,000 tonne bulk sample and will provide confirmation of the mineralized widths, metal grades and the conditions of the ground. Testing of the extracted bulk sample will be done in the Flin Flon metallurgical complex. Site preparation will begin in Q1 and the decline will commence in the second half of 2012.
VMS Ventures owns approximately 45% of North American Nickel Inc. (TSX VENTURE:NAN)
VMS Ventures Inc. is appointing Gary Ostry and Wes Roberts to the company's board of directors. Each of the appointees brings a wealth of knowledge and experience in areas which are important to the continued growth and development of the Company.
Gary Ostry holds a BSc (Hons) degree in geology from the University of Manitoba and a Bachelor of Laws degree from Queens University in Kingston, Ontario. He has 40 years of experience in the resource sector and is currently registered as a Professional Geoscientist in the province of Manitoba.
After working as an exploration geologist on a variety of mineral exploration projects across Canada, Mr. Ostry joined the Manitoba Government as a mineral deposits geologist, and served as Manager of Minerals Policy and Business Development for 15 years until 2009. In this role Gary worked on a variety of fronts with a primary focus on the development of strategies to attract mineral investment and development in the province through the enhancement of fiscal, policy and regulatory frameworks. Mr. Ostry is currently a private consultant advising on business development and policy in the minerals industry and has previously held seats on a number of TSX.V listed issuers.
Wes Roberts is a Mineral Engineering Consultant with the American Law firm Dorsey & Whitney LLP and is a professional mining engineer specializing in the economic evaluation and development of mineral deposits. Wes holds a B.Sc. (Mining Engineering) and M.Sc. (Mining Engineering) from Queen's University, and an M.B.A. (Finance) from the Schulich School of Business (York University). He has more than 30 years of experience in mineral exploration, mining operations, project engineering and management as well as diverse mining engineering experience that includes precious metals, base metals, iron ore, and industrial minerals. Mr. Roberts has held numerous positions in the mining industry, which include Canada Talc Limited, Derry Michener Booth & Wahl, Davey International, Bharti Engineering, GMP Securities, Inco Ltd, Breakwater Resources Ltd (VP Corporate Development (2006 to 2008) and most recently as VP Mining to Heenan Blaikie Consulting (2008 to 2014).
Company CFO Cheryl Messier states "We are very pleased that Wes and Gary have accepted our invitation to join the VMS Board of Directors. As our company evolves, a greater role for non-executive and more independent Directors becomes of greater necessity to corporate governance. Both Gary and Wes bring strong corporate governance experience along with valuable technical and business experiences that will assistance us as we evaluate and assess new projects on which to build our shared enterprise.