Vulcan Minerals Inc. – Completes Fieldwork on Springdale Copper-Gold and Central Newfoundland Gold Properties
St. John’s Newfoundland and Labrador – Vulcan Minerals Inc. (“the Company” – “Vulcan” TSX-V:VUL) announces that it has completed its 2017 field programs at its Springdale copper-gold property and at all three projects, Red Cross Lake, Glenwood and Lizard Pond, of its Central Newfoundland gold property.
Company geologists conducted a preliminary examination on its Springdale Property, which includes the flagship Colchester copper-gold project on the western side of the property and the past-producing Little Bay copper mine on the eastern side of the property. Fieldwork was of a reconnaissance nature and was intended to locate and characterize known zones of copper and gold mineralization and to enable Company geologists to integrate their observations into a broader understanding of the geological environments that are likely to host copper and gold mineralization. The geologists collected 30 rock samples from outcrop, many of which contain high-grade copper and/or gold as per Table 1, which summarizes the samples of note.
A team of prospectors collected 135 soil samples from an area known historically as Fallen Tree, located in the south-central area of the Springdale Property, approximately 3.5 km east-northeast from the past-producing Rendell-Jackman copper-gold-zinc-silver mine. Several of the above rock samples are from this area as well. Fallen Tree was discovered by previous explorers in 1996 during reconnaissance prospecting and is described as having similar geology to known copper-gold zones elsewhere on the Springdale Peninsula. Trenching, rock and soil sampling, ground geophysics (VLF-EM) and finally exploration drilling was conducted in 1996. Field samples up to 1.8 g/t gold and 1.1% copper and 4.37 g/t gold and 0.2% copper from quartz/chert-sulfide veins exposed by trenching were obtained. Drilling confirmed the presence of mineralization at depth, intersecting up to 1.30 m of 1.04 g/t gold. Vulcan field samples confirmed the tenor of mineralization, obtaining up to 2.04 g/t gold and 0.69% copper from the trench area. Results from the 135 soil samples have been received and have a maximum value of 157 ppb Au, with 4 samples greater than 100 ppb; the average value is 10.6 ppb. The 95th percentile is 40 ppb Au.
In late July The Company mobilized a two-person team to its Glenwood property in Central Newfoundland to conduct reconnaissance prospecting. Outcrop is rare at this property and few outcrops or boulders were sampled by the team. Samples have not yet been sent for assaying. A total of 9 rock samples were collected by the team.
Following prospecting at Glenwood, the field crew mobilized to the Red Cross Lake property in Central Newfoundland. This property is less than four kilometers from Marathon Gold’s property. The field crew conducted rock sampling, in particular, searching for a boulder noted by explorers during nickel exploration conducted in 2005 that contained 5.8 g/t gold and was described as being of metasedimentary origin. The Company field crew did not locate this boulder. A wide-spaced soil sample program was completed at Red Cross Lake and successfully identified several zones anomalous in gold, sampling up to 73 ppb gold. Of the 63 samples collected, the average value is 14 ppb and the 95th percentile is 25 ppb Au.
A crew of two prospectors and two geologists were mobilized to the Company’s Lizard Pond property to conduct field reconnaissance prospecting and attempt to relocate and sample as many historical zones of mineralization as possible on the main licence of the property. Field crews collected 21 rock samples, mainly from historical trenches due to limited outcrop in the project area. Results for these samples are pending, but will be released when they become available.
The 2017 field season successfully confirmed the prospectivity of the various mineral projects. Geochemical and geological results from rock and soil surveys at both Red Cross Lake and Fallen Tree warrant follow-up exploration. The Company anticipates further, more advanced exploration in 2018, particularly on the Springdale copper-gold property.
Patrick J. Laracy, P. Geo, President, and Patrick Collins, P. Geo. are qualified persons responsible for the contents of this news release as defined in National Instrument 43-101.
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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
(709) 754-3186