Vulcan Minerals Inc. (“the Company” TSX-V: VUL) is pleased to announce that the 13 3/8 inch casing has been set and cemented at 220 metres in the Vulcan-Investcan Red Brook #2 well in western Newfoundland. The well is currently at 294 metres. Red Brook #2 has a projected total depth of 2200 metres and will test lower Carboniferous sandstones beneath an evaporite (salt) sequence. The well is being drilled pursuant to a 50/50 joint venture agreement with Investcan Energy Corporation. This is a frontier wildcat well and, as such, total depth could vary materially from the projected depth depending on results. The well is intended to test a flank play along the western margin of the Flat Bay Anticline. The Flat Bay Anticline is mapped at surface over a 20km strike length. This is the second well of a planned three well exploratory program in the Bay St. George basin. Combined with a planned three well program at Parsons Pond in western Newfoundland (approximate 12% average net interest) the Company is engaged in the most exploratory drilling ever carried out in the western Newfoundland basins. Each well presents the opportunity for a frontier scale hydrocarbon discovery.
Vulcan is a diversified junior exploration company focused on petroleum exploration in the under-explored Western Newfoundland and Labrador areas 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