Vulcan Minerals Inc. – Springdale Copper-Gold Update
St. John’s Newfoundland and Labrador – Vulcan Minerals Inc. (“the Company” – “Vulcan” TSX-V:VUL) announces that it is providing an update on its 2017 Springdale project field season, which commenced in June. In 2016 the Company acquired a significant land position for advanced and early stage copper–gold exploration projects in Newfoundland. The company’s 2017 focus is to ensure each project is prospected on the ground and further mapping, geochemical and geophysical surveys are carried out where warranted towards identifying trenching and drill targets. An upcoming news release will detail activity on Vulcan’s Central Newfoundland gold projects. Field work has commenced in central Newfoundland and a crew will be mobilized to the Red Cross Lake property next week to attempt to locate the source of gold-bearing float reported by Falconbridge on the company’s claims just 4 kilometers east of the Marathon gold deposit currently being drilled off by Marathon Gold Corp. (see Vulcan’s news release dated April 26, 2017).
Springdale Copper – Gold Project
The Springdale project consists of all the Company’s properties on the Springdale peninsula, an historic copper-gold mining region in north-central Newfoundland. It contains the Colchester, Pine Pond and Little Bay Mine properties. Company geologists have undertaken an extensive visit to various parts of the peninsula to assess the geologic environments in which the various mines and deposits occur in order to better evaluate the significance of the mineralization and its host geology. The area has a high mineral endowment with a mining history dating back to the late 1800’s. The Company is committed to a multi-stage, methodical approach to exploration and development. It is the core project for the Company.
Pine Pond Property
Company geologists visited 24 historic copper – gold showings and sites of exploratory interest to sample the various prospects and evaluate the potential scale of the occurrences based on geologic characteristics and exposure in the area. The basic description of many of these showings was provided in the news release of May 09, 2017. The company has submitted 20 rock samples from the various showings for assay and is awaiting results.
Little Bay Mine Property
The Little Bay Mine (including the Sleepy Hollow mine) produced approximately 3.57 million tonnes at 0.89-1.96% copper from 1961-1969. The company has compiled 166 drill holes, various geophysical surveys, geochemical surveys and mining reports which have been incorporated into 3D modelling software. The company believes that the mine area has the potential to contain unmined resources based on the geophysical features occurring along strike of the mine workings and the fact the mine closed due to an operational issue with the collapse of the crown pillar. Company geologists have visited 16 mineral showings and sites of interest including the mine site to analyse the style of mineralization and scout the area for surface extensions of favourable geology and the terrain for conducting a modern geophysical survey. The Company has submitted 10 samples for assay and is awaiting results. The company is planning a ground geophysical program for this Fall to confirm the presence of historical anomalies along strike from the mine workings.
In late 2016 the Company mapped the northern part of the property, conducted a high-resolution induced polarization (IP) survey and drill tested the Old English zone. Drill results confirmed the style and tenor of high grade copper mineralization hosted by chloritic shear zones within a mafic volcanic sequence. Several IP anomalies have been identified that calibrate with known zones of mineralization as well as new anomalies in areas with no known historic drilling. It is assumed based on cursory inspection last year that the area exhibiting the new IP anomalies does not contain any outcrop exposure. The company will send a mapping team to further ground inspect the new IP anomalies, prospect and map the Colchester Main zone and McNeily zones towards identifying trench and drill targets.
The Company continues to add value to each of its projects and solicits joint ventures or option deals when the project has matured to the point where it would be attractive to a new explorer.
Please refer to www.vulcanminerals.ca for further information about the Company’s projects. 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.
We seek safe Harbor
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