February 11, 2020
Vulcan Minerals Inc. – Exploration Update
St. John’s Newfoundland and Labrador – Vulcan Minerals Inc. (“the Company” – “Vulcan” TSX-V:VUL) provides the following exploration update:
Springdale Copper – Gold Project
The Springdale project consists of three properties on the Springdale peninsula, an historic copper-gold mining region in central Newfoundland. It contains the Colchester, Fallen Tree and Little Bay Mine properties. The Company has completed detailed digitization and compilation of historic work on these properties combined with several field investigations consisting of prospecting, mapping, geophysics and drilling, the details of which are summarized on the Company’s website www.vulcanminerals.ca.
In 2019 the company enlarged the Fallen Tree gold property by acquiring through staking an additional 8 claims covering the Burnt Berry gold showings. The Burnt Berry showings were discovered by Noranda in the late 1980’s (as per work assessment reports filed with the provincial government). Noranda’s best channel samples assayed an average of 6.67 grams per tonne gold over 7.2 meters from quartz carbonate veining in a mafic volcanic sequence. Two short historic drills holes along 50 metres of interpreted strike failed to delineate the showing. The Company carried out a prospecting trip to the property including a soil sampling survey in late 2019. A total of 104 samples at 25-meter intervals were taken on an expanded Fallen Tree grid originally established in 2017. Results confirm the elevated and anomalous gold and copper concentrations associated with the showings and justify further soil sampling to delineate prospective areas for follow up.
The main property within the Springdale project is the Colchester copper – gold property. The Company has modelled the Colchester mineralization and its host geology in a modern digital context. The area has a high mineral endowment justifying further exploration. In the process of moving from a regional to a more local exploration effort, the Colchester copper- gold property has been reduced in scale to a core group of claims with ample coverage of the more prospective areas. The Company is seeking partners to advance further exploration.
Villa Marie Quartzite Project
The Company has acquired through staking the dormant Villa Marie Quartzite open pit mine approximately 30 kilometers east of the deepwater port of Argentia and 75 kilometers west of St. John’s Newfoundland. The quartzite was a source of silica used as a metallurgical flux in an industrial plant that operated in the area 1968-1989. The Company believes the quartzite has potential for use in the cement manufacturing business and as a metallurgical flux.
Historically the property contains 52 drill holes over approximately 2600 meters which formed the basis for an historic resource estimate upon which the original mining was conducted. This drilling data has been digitized and interpreted. The Company has also mapped the property and sampled the various outcroppings of bedded quartzite. Analysis of these samples is consistent with historic results. An average analysis over three quartzite beds is 95.32% silicon dioxide with correspondingly low total alkalis, compared to 94.7 % silicon dioxide from historic government sources. Because of its proximity to a deepwater port, road access and electrical power supply, the company will further investigate potential markets for this material.
Patrick J. Laracy, P. Geo, President, is the qualified person 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