St. John’s Newfoundland and Labrador – Vulcan Minerals Inc. (“the Company” – “Vulcan” TSX-V: VUL) announces that it has acquired a series of gold claims adjacent to its Colchester Copper-Gold property on the Springdale Peninsula in north-central Newfoundland. The properties consist of 174 claims (4,350 hectares) covering numerous under evaluated gold showings occurring within the Lushes Bight volcanic sequence which hosts the copper–gold deposits of the company’s Colchester property. Gold occurs in quartz and quartz–carbonate veins along an 8 km east trending structure and a 3 km northeast trending structure. The Springdale Peninsula has a long mining history and is undergoing resurgence in mineral exploration and development activity including efforts by Maritime Resources Corp. to re-open the past producing Hammerdown Gold Mine 7 Km southwest of Vulcan’s claims.
Based on mineral assessment reports filed with the government of Newfoundland and Labrador numerous gold showings occur on Vulcan’s claims including:
Maple Leaf and Oak Leaf Showings
These showings were identified by Noranda in the 1980’s but received little follow up. Gold has been uncovered in several trenches including grab samples up to 66 grams/tonne (g/t) gold and 55.4 g/t gold. Gold in surficial samples is widespread highlighted by up to 840 g/t gold in heavy mineral concentrates from streams (in delicate gold grains).
Line Pond Trend
The Line Pond Trend covers several showings including a gold soil geochemical anomaly extending over an area of 1400 m by 200 m based on grid sampling including up to 8.4 g/t gold in grab samples.
Rambler Pond showing
The Rambler Pond showing consists of multiple showings up to 2.2 g/t gold in grab samples and 2.37 g/t gold in heavy mineral concentrates and reports of visible gold in soils.
West Brook and Southwest Brook showings
These showings contain up to 2.6 g/t gold in outcrop and 7.53 g/t gold in heavy mineral concentrates respectively.
A gold soil anomaly extends over a 600 m grid distance at Scissors Pond with grab samples up to 1.09 g/t gold and 4.1% copper and 34 g/t silver but no follow up work is recorded.
The Company is in the process of compiling all available information towards designing a 2017 exploration program to evaluate the new claims. For a map of the Springdale Gold project please visitwww.vulcanminerals.ca.
Patrick Laracy, President noted “The Springdale Gold Property contains high quality prospects adjacent to our more advanced Colchester Copper-gold project providing the opportunity for brand new discovery potential. It also allows for efficient use of resources to carry out our initial field evaluation this summer. The multiple gold showings in structurally favourable locations are excellent exploration targets in an area of proven gold production. ”
Patrick J. Laracy, P. Geo, President, and Patrick Collins, P. Geo, Exploration Manager, are qualified persons responsible for the contents of this news release as defined in National Instrument 43-101.
Vulcan is establishing itself as a leading explorer in Newfoundland and Labrador focussed on project generation, value addition and partnering. Vulcan has projects available for option and a competent team to operate all exploration activities. Contact us for opportunity in mineral exploration and development.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This release may contain certain forward-looking statements. Actual events or results may differ from the Company’s expectations. Certain risk factors beyond the Company’s control may affect the actual results achieved. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except by law, the Company undertakes no obligation to publicly update or revise forward-looking information.
For information please contact:
Patrick J. Laracy, President