VMS Ventures Inc. (TSXV:VMS) reported an update on the progress made in July at the Reed Copper Project, near Flin Flon Manitoba. Highlights include the advancement of underground development by a further 182 metres, for a current total of 1,001 metres and the completion of construction of the surface ore pad and excavation of the 60 metre level refuge station. The Company owns 30% of the project and Hudbay Minerals Inc. (TSX:HBM,NYSE:HBM) is the Operator and owns 70%. The project remains on track to be completed by the end of March, 2014.
As quoted in the press release:
Highlights for the month include:
Underground development at the project was advanced a further 182 metres in July for a current total of 1,001 metres.
Construction of the surface ore pad and excavation of the 60 metre level refuge station was completed as well as the foundation forms for the 600 horse power main ventilation fan.
VMS Ventures Inc. COO, Neil Richardson, said:
The project remains within budgetary parameters and the scheduled completion date of Q1 2014. Safety during construction of the mine remains a priority with over 500 consecutive days of no time lost accidents. The focus at the Reed copper project continues to be the advancement of the underground ramp and development of escape and ventilation raises as we advance towards production.