Re: Update
in response to
by
posted on
Jul 19, 2012 12:46PM
Recent Results Include 6.69% Copper Over 71.69 Metres and 3.74% Copper Over 21.77 Metres
Dear VMS followers,
This morning’s release provides VMS shareholders an update on the Reed Copper Mine development. As you will see, it is on schedule and is beginning to take shape. With HudBay now reporting on progress monthly, we expect to update you on that schedule.
I also expect that by next week we will be ready to publish a photo gallery on the Reed Project page on our website that will allow you to watch the mine development progress over the coming months.
Best regards,
Rick Mark
CEO
VMS Ventures Inc.
VMS owns 26M shares of North American Nickel
VMS VENTURES UPDATES PROGRESS AT THE REED COPPER PROJECT NEAR SNOW LAKE, MANITOBA
Vancouver, B.C., July 19, 2012 - VMS Ventures Inc. (VMS: TSX-V) (“VMS”) is pleased to update shareholders on the ongoing developments at the Reed copper project. The Reed project is located 120 kilometres from Flin Flon, Manitoba and is the subject of a joint venture with Hudbay Minerals (TSX, NYSE:HBM) (“Hudbay”), which operates the project and has a 70% ownership interest while VMS owns the remaining 30%.
Construction activity on-site at the Reed copper project is advancing on schedule and highlights since the last update in May include:
· 84% of the grouting for the portal entrance area is now complete and this phase of the program is expected to be finished within the next week.
· Portal trench excavation has commenced with the first three metres of overburden now removed.
· Materials and equipment from the Trout Lake mine have begun arriving at the property.
VMS Ventures Chief Operating Officer Neil Richardson, states: “The progress report at our latest Joint Venture management meeting was encouraging and we are pleased with the progress our partners at Hudbay Minerals are making in the development of the Reed Copper project. The grouting program is almost complete and we expect to commence trenching the portal area later this month.”
In the previous project update dated May 10, 2012, it was reported that the main access road to the project was completed and clearing and leveling had begun for ore stockpiles, office and storage buildings, and settling ponds. Placement of limestone gravel fill for the warehouse and shop was in progress.
Initial production at the Reed copper project is expected by fourth quarter of 2013, and is anticipated to ramp up to full production of approximately 1,300 tonnes per day by the first quarter of 2014. CLICK HERE TO READ MORE
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