VMS Ventures Says Drilling Confirms Low-Grade Gold System at Sails Lake Property
VMS Ventures Inc. (VMS.V) is sliding lower today, likely falling in concert with bullion prices, with the gold prospector saying it has completed nearly 1,600 meters of drilling at Sails Lake property in Manitoba, intersecting 58.89 metres of 1.21 grams gold per ton.
Company officials said the Long Zone drilling confirms their geological model for the site indicating a low-grade gold system. They also said additional target zones with coincident chargeability and resistivity anomalies will be reviewed later this summer.
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