VMS Ventures reports development continues on time and within budget at the Reed Lake mine near Snow Lake in which they hold 30 percent interest and Hudbay 70 percent as the operator.
VMS says Hudbay has competed just over 15 hundred meters of lateral development on the project by the end of September and the first Reed ore batch tested was processed at Hudbay’s Flin Flon mill in September.
The underground powder and cap magazines have been competed as well as the wash bay and the refuge stations. A new production drill was received and the camp in now finalized for the crews.
They add full production remains on schedule to commence by the second quarter of 2014 and the project remains within the estimated budget parameters.