MANITOBA – Word comes from 30% joint venture partner VMS Ventures of Vancouver that work is progressing at the Reed copper project near Flin Flon. During July construction of the surface ore pad and excavation of the 60-metre level refuge station was completed, plus the forms were placed for the main ventilation fan. Hudbay Minerals of Toronto is the operator and 70% owner of the project.
Underground development was advanced another 182 metres during the month, bringing to 1,001 metres the total length.
Production is targeted for March 2014. To the end of July the partners had spent $49.6 million at Reed, and have committed another $11.8 million to service, rental and purchase orders.
Visit the VMS website at VMSventures.com/investors/photo-gallery to view a slide show of progress on the Reed copper project.