VMS Ventures: Update on Reed Mine Reserves and Resources

VMS Ventures (TSXV:VMS) provided an update on reserves and resources at the Reed mine in Manitoba. The mine is 30 percent owned by VMS and 70 percent owned by Hudbay Minerals (TSX:HBM).
As quoted in the press release:

Reed – Mineral Reserves – January 1, 2016(1)(2)
Tonnes	Cu (%)	Zn (%)	Au (g/t)	Ag (g/t)
Reed Mine
Proven	677,000	3.80	0.46	0.35	4.87
Probable	517,000	4.46	0.28	0.52	6.11
Total Mineral Reserve	1,194,000	4.09	0.38	0.42	5.41

The company also reported on 2015 drill results at the mine:

In December 2015 VMS Ventures completed seven holes for a total of 4,870 metres. The areas targeted are located approximately 300 metres to 2.3 kilometres from the Reed mine.
All results from this drill program have been received, analyzed and interpreted with no conclusive results. A follow up program has been considered by VMS, but is pending the outcome of the Special Meeting of Shareholders to approve the proposed acquisition by Royal Nickel Corp. Please see news release from March 30, 2016 ; VMS Files Materials in Connection with Special Meeting of Shareholders to Approve Proposed Acquisition by Royal Nickel Corp. on our website for more information.

Click here for the full press release.