VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 19, 2015) - VMS Ventures Inc. (News - Market indicators) ("VMS Ventures" or the "Company") is pleased to update shareholders on the performance of the Reed mine. VMS Ventures owns 30% and HudBay Minerals Inc. (TSX:HBM) (NYSE:HBM) ("Hudbay") owns 70% and is the operator. Management has reviewed the Reed mine monthly report received from Hudbay.
Reed Mine Underground Development Update
In the month of February 2015, mining activities concentrated on the Zone 20 orebody. The main decline has been driven to below the 235 metre level and ore development is ongoing on the 160, 185, 210 and 235 metre levels of Zone 20, and the 235 metre level of Zone 10. The focus for March will be on safety, ore production from Zone 20 on the 110, 135 and 235 metre levels and advancing the main decline to the 260 metre level.
Highlights for February 2015
- Ore production of 35,895 tonnes
- Development advanced 225 metres
- Safety performance has been good with over 282 days without a loss time accident
Neil Richardson, Chief Operating Officer, states "we continue to see steady production from Reed and the operations safety performance has been good to date. Ore production from Zone 20 continues to return good copper grades and we should continue to see better grades as we get deeper in the mine and more production comes from Zone 10."
Qualified Person
All technical information in this release has been reviewed by Dr. Mark Fedikow, P.Geo. who is the Qualified Person for the Company and Vice President of Exploration & Technical Services, VMS Ventures.
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 is actively evaluating new growth opportunities to build on the success achieved at Reed. The Company also holds approximately 22% 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.
For more information on North American Nickel Inc., please visit www.northamericannickel.com.
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.
