Location and Property Description
The Reed East & West Project is situated approximately 55 km south and west of the Town of Snow Lake where active mining and milling of base and precious metals has been ongoing for decades. The Project comprises two separate groups of claims which covers an area of 38.70 square kilometres (9,560 acres) of prospective volcanic rocks immediately to the east and west of the JV/Optioned claims on which the construction of the Reed Copper Mine is now underway.
History of Exploration
Exploration in this area dates back to the mid 1960’s to early 1970’s with early airborne and ground electromagnetic surveys being completed and followed up with diamond drilling. In the 1970’s Freeport McMoRan discovered the highway zone and the Spruce Point deposit located 1.2 kilometers north and 15 kilometers respectively of the Reed Copper deposit of Hudbay Minerals and VMS Ventures. Other companies have made some smaller discoveries including the Reed Lake zone near Four Mile Island and a zone near the south shore of Reed Lake.
In 2008 Mantis Minerals undertook a 670 kilometer VTEM Airborne geophysical survey over the property identifying numerous electromagnetic and magnetic anomalies.
Philosophy of VMS Ventures Exploration
At the Reed East & West Project, chemical and clastic sedimentary rocks or “exhalites” are deposited at a stratigraphic interval that corresponds to a break in volcanism; this represents an important time-stratigraphic feature. It is at this location that base metal massive sulphide deposits are often formed. This feature is found at deposits in the Flin Flon-Snow Lake greenstone belt and in other greenstone belts worldwide. For this reason VMS Ventures will take an integrated geological-geophysical-geochemical exploration program to assess the Reed East & West Project area for base metal and associated precious metal mineralization. The Project claim group is sub-Paleozoic, meaning that the rocks that may host the copper-zinc-silver-gold deposits the area if famous for, are not exposed at surface, which has frustrated traditional methods of exploration historically. For this reason deep-looking soil geochemical surveys will be applied to the property along with deep penetrating ground geophysical surveys, to prioritize drill targets.
Mantis Minerals conducted an airborne geophysical survey over the property in early 2008 using GEOTECH’s VTEM system. The modeling of airborne geophysical survey data which has been acquired by the Company is underway. A number of well-defined conductors were identified though some had undergone drill testing in the past several remain untested and are being re-evaluated. Follow-up geochemical surveys is being undertaken and diamond drill testing of the more promising electromagnetic anomalies drilling will be planned once all survey data has been integrated. Anomalous responses which indicate the presence of bedrock-hosted conductive minerals such as copper- and zinc-bearing sulphide with associated gold and silver as well as the iron sulphide minerals pyrite and pyrrhotite, provide targets for follow-up exploration.
Partial extraction soil geochemical surveying will be utilized to detect base and precious metal anomalies on the property. Multi-element base and precious metal anomalies coincident with VTEM geophysical responses will be used to prioritize diamond drill targets. Detailed soil sampling worked over areas of interest are planned for summer/fall 2012.
Base metal massive sulphide mineralization hosted within a sequence of volcanic rocks and exhalites are strongly indicative of volcanogenic massive sulphide type base metal mineralization (“VMS”). This deposit type is representative of Flin Flon belt VMS deposits including the Reed Copper Deposit adjacent to the property in the Reed Lake area.
Current Activities on the Property
Work on the property is planned for summer-fall of 2012 starting with MMI soil geochemistry sampling of areas of interest. Reconnaissance geochemical survey and follow up detailed sampling of specific target anomalies. Anomalous responses identified from the recon stage are followed up with detailed soil sampling and the results integration with geological and geophysical data sets. A second phase of deep-looking ground based geophysical surveying may follow where previous airborne surveys have not adequately defined anomalies for drill testing.
Future Activities on the Property
Ultimately, the goal of the field programs and surveys is to identify and prioritize targets for diamond drilling. A decision on drilling won't be made until all data has been evaluated. Winter drilling is preferable in this area and so it is contemplated that a preliminary drill program to test select targets would be planned for winter 2012-2013.