St. John’s – Newfoundland – Vulcan Minerals Inc. (“the Company” TSX-V: VUL) is pleased to announce that it has been advised by Nortec Ventures Corp. (Nortec) that drilling has commenced on the TL – Tasisuak Lake nickel-copper-cobalt property in Northern Labrador. The property is situated along a regional geological contact between Nain Plutonic rocks, which hosts the Voisey’s Bay nickel-copper mine, and sulphur rich gneisses near a crustal suture between two Precambrian continental plates. A magmatic sulphide deposit model is applied to the area whereby sulphur within the gneisses reacted with metal rich magmas sourced from a deep rooted “plumbing system” along the continental plate suture to potentially form nickel and copper rich massive sulphide bodies.
Drilling by Nortec and a previous operator on the property had identified two nickel-copper bearing zones, known as the Long Pond zone and the “All about it” zone. Several holes have encountered the mineralization including the following:
Long Pond:
Hole
From (m)
To (m)
Intersection
Nickel %
Copper %
Cobalt %
05-54
5.5
13.8
8.30
0.84
0.37
0.02
Include
6.8
11.8
5.00
1.19
0.53
0.03
C1-2
19.98
23.7
3.72
0.72
0.38
0.02
All About It:
Hole
From (m)
To (m)
Intersection
Nickel %
Copper %
Cobalt %
C3-2
13.3
37
23.7
0.47
0.16
0.02
Include
16
21.23
5.23
1.15
0.42
0.04
The zones are approximately 600 meters apart and are interpreted to be sourced by a deeper intrusive magma-chamber along an intrusive geometry which is as of yet undetermined. The purpose of the current drill program is to better define that intrusive geometry and potentially the location of the magma source. As well the program will test prominent VTEM anomaly targets identified from the recently completed airborne survey. The property presents a variety of drill targets in a compelling environment including the potential for platinum group elements.
Mineralization occurs as a sulphide phase associated with a gabbro intrusive as well as sulphidic zones within the host paragneiss (Tasisuak gneiss), believed to be genetically related to the intrusive event.
Nortec is earning a 51% working interest in the property with the possible enlargement of that interest through a series of staged work commitments. The drill program should be completed in about four weeks with results to follow in due course. Maps and photos of the property have been posted on the company’s website at www.vulcanminerals.ca.
Vulcan is a diversified junior exploration company focussed on petroleum exploration in the under-explored Western Newfoundland area and also holds mineral interests in areas strategic to its operations in Newfoundland and Labrador.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company’s expectations. Certain risk factors may also affect the actual results achieved by the Company.
There can be no assurance that forward-looking information will prove to be accurate. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.