VMS Reports Update on Reserves and Resources at Reed Mine
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/01/16 -- VMS Ventures Inc. (TSX VENTURE: VMS) ("VMS Ventures" or the "Company") is pleased to provide an update on the Company's 30% owned Reed mine mineral reserve and resource estimates. Hudbay Minerals Inc. (TSX: HBM)(NYSE: HBM) ("Hudbay") owns the remaining 70% and is the Operator. The Reed mine is located near Flin Flon, Manitoba and commenced commercial production on April 1, 2014. The ore from the Reed mine is currently being transported for processing at Flin Flon concentrator owned and operated by Hudbay.
Hudbay estimates of mineral reserves and resources for Reed are set out below.
2015 Reed JV Drill Results
In December 2015 VMS Ventures completed seven holes for a total of 4,870 metres. The areas targeted are located approximately 300 metres to 2.3 kilometres from the Reed mine.
All results from this drill program have been received, analyzed and interpreted with no conclusive results. A follow up program has been considered by VMS, but is pending the outcome of the Special Meeting of Shareholders to approve the proposed acquisition by Royal Nickel Corp. Please see news release from March 30, 2016 ; on our website for more information.
Qualified Person
All technical information in this release has been reviewed by Neil W. Richardson, P.Geo. who is the Qualified Person for the Company and Chief Operating Officer, VMS Ventures Inc.
About VMS Ventures Inc.
VMS Ventures is a mining and mineral exploration company currently in partnership with Hudbay on the producing Reed mine near Flin Flon Manitoba. VMS Ventures holds a 30% interest in the Reed mine which is operated by Hudbay and achieved full production during Q2 of 2014. In addition, VMS Ventures is exploring a large prospective property package in Manitoba. The Company also holds approximately 14% of the shares of North American Nickel (TSX VENTURE: NAN) which is exploring a new district scale nickel-copper-cobalt PGE deposit belt in S.W. Greenland.
As of January 30, 2016, VMS Ventures Inc. has entered into a Plan of Arrangement with Royal Nickel Corp. Please see News release on our website for more information.
Forward-Looking Statement
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. VMS Ventures Inc. undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
ON BEHALF OF THE BOARD OF DIRECTORS
John Roozendaal, B.Sc., Interim CEO, President, Director
VMS Ventures Inc.
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.
Contacts:
VMS Ventures Inc.
Shaun Heinrichs
CFO
(604) 986-2020 or Toll Free: 1-866-816-0118
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Datum: 01.04.2016 - 13:30 Uhr
Sprache: Deutsch
News-ID 461279
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VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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