Vancouver, British Columbia, November 1, 2013. VMS Ventures Inc. (TSX-V: VMS) (“VMS Ventures” or the “Company”) is pleased to announce to its shareholders the latest advances in the development of the Reed Mine, which is in Located near the city of Flin Flon in the Canadian province of Manitoba. VMS Ventures owns 30% of the shares and is involved in production after the production operation has been established. Hudbay Minerals Inc. (TSX: HBM) (NYSE: HBM) ("Hudbay") owns 70% of the shares and is the project operator.
VMS Ventures announced today that by the end of September Hudbay could expand the project by a total of 1.505 meters lateral direction; In the month of September alone, 250 meters, which is an average of 8,3 meters per day, were developed. In September, the first test run for the processing of ore from the Reed project took place in Hudbay's Flin Flon facility.
Other important advances in the month were achieved with the completion of the underground magazine for the storage of explosives, the car wash and the shelter. A new production drill rig has been delivered and the construction of the mining camp for staff accommodation has also been completed. By the end of September, a total of 565 days had been completed without any accidental interruptions.
The plant will be planned according to the given budgeting parameters at the latest in 2. Quarter 2014 go into full operation.
Neil Richardson, COO of VMS Ventures, said: “A milestone on the way to full operation is the development of the main ramp that will take us into three mineralization lenses. The Reed deposit is composed of these three lenses. The teams responsible for the development were able to penetrate an average of 8,3 meters per day and thus achieve the best monthly result so far in the context of the project development. The second test run was recently completed. "
On the VMS website (http://www.vmsventures.com/investors/photo-gallery) you will find a slideshow documenting the progress of the work.
About VMS Ventures Inc .:
VMS Ventures Inc. is focused primarily on the acquisition, exploration and development of the copper-zinc-gold-silver massive sulphide deposits at the Flin Flon-Snow VMS belt in Manitoba. The company's VMS project portfolio currently includes the Reed Mine, which is co-operating with Hudbay Minerals as the 70 / 30 joint venture, and to 4. To expand 2013 into a manufacturing operation, the Copper Project, the McClarty Lake Project, the Sails Lake Project, the Puella Bay Project, and the Morton Lake Project. In addition to the Snow Lake mining camp, the Company also owns bulk sulphide potential properties near the former Fox Lake and Ruttan copper-zinc mines. These areas are located near the communities of Lynn Lake and Leaf Rapids in northern Manitoba. The properties are located in the Canadian province of Manitoba, where mining conditions are particularly favorable. The Company has also signed an option agreement for the Black Creek property at Mining Camp Sudbury.
VMS Ventures holds approximately 23,9% of North American Nickel Inc. (TSX VENTURE: NAN). For more information about North American Nickel Inc., visit www.northamericannickel.com.
Forward-looking statements
Some of the statements contained in this press release may be forward-looking statements and therefore involve known and unknown risks and uncertainties. Statements about potential mineralization and resources, exploration results, and future plans and objectives of the Company are considered to be forward-looking statements that involve various risks. The following key factors could cause the Company's actual results to differ materially from those that have been mentioned, directly or indirectly, in such forward-looking statements: changes in international mineral commodity prices, general market conditions, typical risks related to mineral exploration, risks related with the development, construction and promotion, the uncertainty of future economic viability and the uncertainty regarding the availability of additional capital. There can be no assurance that any forward-looking statements will prove to be accurate. Actual results and future events may differ materially from such statements. VMS Ventures Inc. is under no obligation to correct the forward-looking statements in the event of a change in circumstances or estimates and views of management. Readers are advised not to rely unreservedly on forward-looking statements.
FOR THE BOARD OF DIRECTORS:
John Roozendaal, B.Sc.,
President
VMS Ventures Inc.
The TSX Venture Exchange and its regulators (referred to in the Articles of Association of the TSX Venture Exchange as Regulation Services Providers) accept no responsibility for the adequacy or accuracy of this announcement.
Contact:
VMS Ventures Inc.
Evan Sleeman
Director
(604) 986-2020 or
Tel: 1-866-816-0118 (toll-free)
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