VMS Ventures to Initiate Reed Copper Project Mine Construction

VMS Ventures Inc. (TSXV:VMS) reported that HudBay Minerals Inc. (TSX:HBM) has approved the capital expenditures required in order to initiate construction of the Reed Copper project.

As quoted in the press release:

A summary of the project’s economics follows (100% basis):

• Approximate daily ore production of 1,300 tonnes at Reed is expected by late 2013, subject to receipt of required permits.

• Average expected production grades of 3.78% copper, 0.45 g/t gold and 5.77 g/t silver.

Click here to read the VMS Ventures Inc. (TSXV:VMS) press release.