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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 18, 2012) - VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS" or the "Company") is pleased to announce the results of a surface time-domain electromagnetic (TDEM) survey on its 100% owned Terra Incognita project and the first phase of trenching on its 100% owned Golden Pine project. Both projects are located north of the Sudbury basin and approximately 40 kilometres northeast of Sudbury, Ontario.

Neil Richardson, COO states: "We are pleased with the TDEM survey over the Terra Incognita project, which has provided at least three significant targets for our planned 2013 winter drilling program. As well, the first phase of our trenching program at Golden Pine shows that the MMI soil geochemistry survey is outlining bedrock-hosted gold mineralization, which we will now follow-up with trenching and channel sampling."

The surface time-domain electromagnetic survey at Terra Incognita completed late last winter has now been incorporated into the company's GIS database ( Image 1: http://media3.marketwire.com/docs/VMSimage1.pdf ).

The TDEM survey was completed by Crone Geophysics Ltd. of Mississauga, Ontario on a grid cut by a crew from the Wahnapitae First Nations. The survey covered approximately 20 line kilometres with station readings taken every 25 metres and line spacing of 100 metres. Six TDEM anomalies were outlined from this survey, with three ranked as high priority targets. Two of the high priority targets have coincident Mobile Metal Ion (MMI) geochemical anomalies and VLF geophysical conductor anomalies. Drilling is planned to test these targets in the upcoming 2013 winter drilling program.

The first phase of trenching has been completed on the Golden Pine project where two separate areas were mechanically stripped to expose the bedrock; a total area of 400m2 was excavated. These trenches focused on a coincident Induced Polarization geophysical anomaly and a Mobile Metal Ion geochemical anomaly over an inferred contact between granite and intermediate volcanic rocks. A second trench focused on a MMI anomaly near historical zone B. Results from the first phase of channel sampling yielded assay results of up to 12.00 g/t gold over 0.50 metres. Two continuous samples averaged 11.68 g/t gold over 1.00 metre in an intermediate volcanic rock in the first trench area (Image 2: http://media3.marketwire.com/docs/VMSimage2.pdf).
 
Posted by djk on :
 
The Reed Copper Mine

$37 MILLION INVESTED TO DATE


534 Meters of Underground Development Completed


Vancouver, B.C., May 24, 2013 VMS Ventures Inc. (TSX-V:VMS) (“VMS Ventures” or the “Company”) is pleased to update shareholders on the progress made in the month of April at the Reed Copper Project, near Flin Flon, Manitoba. VMS Ventures owns 30% of the project and is carried to production. HudBay Minerals Inc. (TSX:HBM)(NYSE:HBM) ("Hudbay") owns 70% and is the Operator.

Considerable progress was made at the Reed Copper Project in the month of April, including:

• Underground development advanced 171 metres and represents the greatest monthly advance rate since development commenced on the project; underground development at the project is now 534 metres;

• Sinking of the 16 ft diameter ventilation raise from surface is now 66% complete;

• Two permanent 1.6 Mw generators and the electrical house were commissioned into service, replacing three temporary generators;

• A new communication system was installed; and

• A fire-fighting well pump was commissioned.

The focus during the month of May is the continued development of the underground ramp and the vent raise, along with ongoing construction activities.

COO Neil Richardson states: “We were pleased with the improvements to the advance rates of the ramp and ventilation raise during the month of April, which are key components to the Reed project’s development. Reed continues to develop as planned and remains on budget. It is noteworthy to mention that mine and camp construction have now proceeded for 412 days with no lost time accidents”.

On May 1, 2013, Hudbay reported that approximately $37 million of the $72 million capital construction budget for the project has been invested as of the end of the first quarter of 2013 with an additional $13 million committed as of that date.



Summary of the Reed Mine’s Economic Assessment


Initial production at Reed is expected by Q 4 - 2013 and will ramp up to full production of approximately 1,300 tonnes per day by Q1 - 2014.

Average expected reserve ore grades of 3.83% copper, 0.48 g/t gold and 6.02 g/t silver, slightly better than PEA due to the exclusion of the inferred resources in the pre-feasibility study.

Assumed metal recoveries in HudBay’s Flin Flon Concentrator of 94% copper, 58% gold and 62% silver.

Production ~ 17,000 tonnes of copper metal concentrate per year.

Total operating costs estimated to average approximately $90 per tonne milled ($67 per tonne mining, $16 per tonne milling and $7 per tonne administration) over a five year mine life.

Sustaining capital expenditures are expected to total approximately $52 million over the five year mine life.

Pre-Feasibility pre-tax NPV (8%) of $57.4 million using weighted average metal prices of US$2.95/lb. for copper, US$1,269.09/oz. for gold and US$24.78/oz. for silver.

Forecasted cash flow of $102 million dollars to the JV or a 34.7% IRR.


Website: http://www.vmsventures.com

Symbols: VMS.V / VMSTF.OTC
 
Posted by djk on :
 
Vancouver, B.C., July 24, 2013 VMS Ventures Inc. (TSX-V:VMS) (“VMS Ventures” or the “Company”) is updating shareholders on progress made during the month of June at the Reed Copper Project, near Flin Flon Manitoba. VMS Ventures owns 30% of the project and is carried to production. Hudbay Minerals Inc. (TSX:HBM)(NYSE:HBM) ("Hudbay") owns 70% and is the Operator.

Highlights at the Reed Copper Project Include:

• Ramp development advanced a further 142m taking the total development to 819m for the project to date.
• Escape and ventilation raises from surface and camp expansion were completed.
• Construction of diesel fuel and surface oil containment areas was completed.
• Project remains on schedule and is forecast to be completed on budget by the end of March 2014.

COO Neil Richardson states: “While the rate of ramp development slowed in March due to difficult ground conditions, advancement has since returned to the planned rate and the project remains on time and on budget. We remain impressed with our partner Hudbay Minerals and its ability to keep the project on schedule while maintaining a strong safety record with 473 days without a lost time accident to date on the project.”

Summary of the Reed Mine’s Economic Assessment


 Initial production at Reed is expected by Q 4 - 2013 and will ramp up to full production of approximately 1,300 tonnes per day by Q1 - 2014.

 Average expected reserve ore grades of 3.83% copper, 0.48 g/t gold and 6.02 g/t silver, slightly better than PEA due to the exclusion of the inferred resources in the pre-feasibility study.

 Assumed metal recoveries in HudBay’s Flin Flon Concentrator of 94% copper, 58% gold and 62% silver.

 Production ~ 17,000 tonnes of copper metal concentrate per year.

 Total operating costs estimated to average approximately $90 per tonne milled ($67 per tonne mining, $16 per tonne milling and $7 per tonne administration) over a five year mine life.

 Sustaining capital expenditures are expected to total approximately $52 million over the five year mine life.

 Pre-Feasibility pre-tax NPV (8%) of $57.4 million using weighted average metal prices of US$2.95/lb. for copper, US$1,269.09/oz. for gold and US$24.78/oz. for silver.

 Forecasted cash flow of $102 million dollars to the JV or a 34.7% IRR.


Website: web page

Symbols: VMS.V / VMSTF.OTC
 
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August 2013 Rick Mills Talks Copper & VMS Ventures

http://aheadoftheherd.com/Newsletter/2013/A-VMS-Venture.htm
 
Posted by djk on :
 
Reed Copper Mine Commences Production



VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 1, 2013) - VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS Ventures" or the "Company") is pleased to update shareholders on the progress made at the Reed Copper Project, near Flin Flon Manitoba. VMS Ventures owns 30% of the project and is carried to production. Hudbay Minerals Inc. (TSX:HBM) (NYSE:HBM) ("Hudbay") owns 70% and is the Operator.


VMS Ventures announced today that joint venture partner and operator Hudbay has received the Environment Act Licence for the Reed Copper Project from the Manitoba government and has commenced initial production. The licence permits the operation of the Reed mine, a 1,300 tonnes/day underground copper mine, and its supporting infrastructure.


Hudbay has informed VMS that a bulk sample of approximately 7,000 tonnes of ore was mined under the Advanced Exploration Project permit and a metallurgical batch test of 4,500 tonnes of ore was milled in late September at Hudbay's Flin Flon concentrator. The 7,000 tonnes of ore, from the upper Zone 30, was mainly mined on 65 m Level with only 1 round (approximately 300 to 400 tonnes) taken on the 45 m Level.

Full production remains on the planned schedule to commence in first half of 2014 and the project remains within the estimated budget parameters.


Neil Richardson, VMS Ventures' COO states: "The receipt of the Environment Act Licence and the successful extraction of the bulk sample are both significant milestones for the project. The Licence confirms the care and diligence taken by our JV partner and operator Hudbay in moving the project forward within mandated environmental guidelines while the extraction of the bulk sample project is the first step towards full production at Reed".


Please visit the VMS website at http://www.vmsventures.com/investors/photo-gallery to view a slide show of progress on the Reed Copper Project.

About VMS Ventures Inc.:

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, which is subject to a 70-30 JV with Hudbay Minerals and is scheduled for production in Q4-2013, 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 the Black Creek property in the Sudbury mining camp.


VMS Ventures owns approximately 27.5% of North American Nickel Inc. (TSX VENTURE: NAN). For more information on North American Nickel Inc., please visit www.northamericannickel.com.


Preliminary Economic Assessment (PEA) of the Reed Copper Deposit

• Indicated Resource: 2.55 M Tonnes of 4.52% Cu, 0.64g/t Au, 7.86g/t Ag
• Production of 1,300 tonnes per day estimated by late 2013
• Expected production grades of 3.78% Cu, 0.45 g/t Au, 5.77g/t Ag

• Metal recoveries currently estimated at 94%
The $71-million Reed Copper Mine has a five-year life planned for the mine. The ore will be processed & treated in HudBay’s Flin Flon concentrator.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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