|By Marketwired .||
|April 17, 2014 03:05 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/17/14 -- VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS Ventures" or the "Company") is pleased to announce that North American Nickel Inc. (TSX VENTURE:NAN) ("North American Nickel" or "NAN"), issued a press release this morning announcing Crone Geophysics of Mississauga, Ontario have mobilized their crews to the Imiak Hill Conduit Complex (IHCC) for NAN's southwest Greenland Maniitsoq project. VMS Ventures owns approximately 23.9% of NAN.
The release is as follows:
"North American Nickel Inc. is pleased to announce that Crone Geophysics of Mississauga, Ontario have mobilized their crews to the Imiak Hill Conduit Complex (IHCC), part of the Company's 100% owned Maniitsoq nickel-copper-cobalt-PGM project in southwest Greenland.
Geophysical Surveys Underway
The geophysical survey work now underway consists of surface time-domain PEM and gravity surveys in the Imiak Hill Conduit Complex, where significant nickel-copper-cobalt PGE mineralization has been intersected in drill holes by the company over the past two drill seasons. These intersections include:
-- Imiak Hill DDH MQ-13-028: 24.75 metres of near massive to massive sulphide grading 3.19% Ni, 1.14% Cu, 0.11% Co, including; 17.91m of 3.80% nickel, 1.42% copper, 0.13% cobalt and 0.01 g/t PGM; -- Imiak North DDH MQ-13-029: 55.75m of disseminated to near massive and massive sulphide grading: 1.28% nickel, 0.36% copper, 0.04% cobalt, and 0.03 g/t PGM, including;9.99m of 4.65% nickel, 0.33% copper, 0.13% cobalt and 0.08 g/t PGM; and -- Spotty Hill DDH MQ-12-005: 123.94 meters of disseminated, net-texture, to near massive and massive sulphide grading 0.81% nickel, 0.21% copper, 0.03% cobalt & 0.26 g/t platinum (Pt) + palladium (Pd) + gold (Au), including: 24.20 m @ 1.75% Ni, 0.34% Cu, 0.06% Co & 0.52 g/t Pt+Pd+Au.
Geological Team Meeting April 8-10, 2014 in Winnipeg
As preparation for the 2014 field and drill program all norite-hosted nickel sulphide mineralized drill targets were reviewed by the NAN Geological team and four invited geoscientists familiar with nickel sulphide deposits and advanced methods of interpretation of geophysical responses to nickel sulphide mineralization. The review was undertaken at a meeting convened in Winnipeg by North American Nickel with a view to expanding discovery possibilities and then confirming and prioritizing drill targets for this year's drill program.
President Dr. Mark Fedikow P.Geo. states: "Our deepest hole to date at Imiak Hill in the IHCC intersected high-grade massive sulphide nickel-copper mineralization 185 m below surface. The new geophysical ground surveys are designed to look below that depth and define the extent and shape of our high-grade mineralized zones providing plunge, strike and dip attitudes for the mineralization. The results from these 2014 ground geophysical surveys coupled with the airborne surveys and drill results from 2012 and 2013 will assist with drill targeting at the IHCC. Our team worked last week with four seasoned and internationally experienced nickel sulphide geoscientists. The agenda included a thorough review of the IHCC and all the regional norite-hosted nickel sulphide targets identified as a priority for the 2014 season. We look forward to including them again along the path to discovery at Maniitsoq."
The PEM Survey
The PEM system operates by placing a large loop of insulated wire on the ground through which a precisely-controlled changing current induces magnetic responses from conductors hundreds of metres deep in the ground. It can be used to detect and discriminate between a wide range of conductivities from poor (zinc), to excellent (copper and nickel). Due to its unique transmitted current waveform and its receiver's measuring system, Crone has developed a step-response transformation of the data which extends this range of detection and discrimination into the extremely high conductance that is seen in nickel exploration. This feature has made the Crone PEM system an important part of the exploration efforts in nickel exploration camps around the world, such as the Raglan camp, Voisey's Bay, Sudbury, Alaska, Tanzania, Western Australia, and now Greenland.
The Gravity Survey
In addition to the Pulse EM survey, Crone will carry out a gravity survey with a 2 person crew consisting of a gravity operator and a GPS operator with extensive experience in precision gravity surveys. The equipment consists of LaCoste & Romberg model G gravity meters with a reading resolution of 0.01 mGal. The differential GPS (DGPS) system is the Leica - model 1230 Dual Frequency, Dual Constellation (GPS & GLONASS) RTK, rover and Base Station with an accuracy of 1 cm + 1 ppm in separation from the base station to the rover. The crew has extensive worldwide experience and is capable of reducing the data to bouguer mGal values nightly in the field. Gravity surveys measure extremely small variations in the Earth's gravitational field, which can be used to locate high density material such as nickel sulphide-bearing rock.
All technical information in this release has been reviewed by Dr. Mark Fedikow, P.Geo, who is the Qualified Person for the Company and President, North American Nickel Inc."
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 mine, which is subject to a 70-30 JV with Hudbay Minerals and achieved initial 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 23.9% of North American Nickel Inc. (TSX VENTURE:NAN). For more information on North American Nickel Inc., please visit www.northamericannickel.com.
ON BEHALF OF THE BOARD OF DIRECTORS
John Roozendaal, B.Sc., President
VMS Ventures Inc.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
VMS Ventures Inc.
Director and Corporate Secretary
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