VMS Ventures Outlines Plans for Diamond Drilling at the Copper-Rich Reed Lake Joint Venture Property

VMS Ventures Inc. (TSXV:VMS) announced plans for a diamond drill program to begin shortly at the copper-rich Reed Lake deposit, which is the subject of a joint venture between the Company and HudBay Minerals Inc. (TSX:HBM).

The press release is quoted as saying:

The Reed Lake deposit is a base metal massive sulphide-type deposit near HudBay’s concentrator in Flin Flon, Manitoba. On July 6, 2010 the Company and HudBay announced that they had entered into a joint venture agreement pursuant to which HudBay has a 70% interest and the Company has a 30% interest in the Reed Lake property and the two claims immediately to the south. The parties have also entered into four option agreements which grant HudBay the right to earn a 70% joint venture interest in properties held by the Company adjacent to the Reed Lake property. Drilling will commence with one drill on the Reed Lake deposit during the second week of August, 2010. A second drill is expected to be mobilized on the property in approximately one month.

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