Vulcan Minerals Inc

Exploring for petroleum and minerals in Canada
...searching new areas for large deposits

TSXV: VUL

News

Vulcan Minerals Inc. – Commences Colchester Copper-Gold Field Program in Newfoundland

News Release

 

October 25, 2016

 

Vulcan Minerals Inc. – Commences Colchester Copper-Gold Field Program in Newfoundland

 

St. John’s Newfoundland and Labrador - Vulcan Minerals Inc. (“the Company” - “Vulcan” TSX-V: VUL) announces that it has commenced field operations at the Colchester copper-gold property in north-central Newfoundland. A grid totalling approximately 25 line kilometers is currently being cut to facilitate a high resolution Induced Polarization (IP) geophysical survey and geological mapping.

 

A thorough compilation of historic data of the project has been undertaken including the digitization of all relevant geological data and drilling records. These data include 22,000 metres of drilling over 110 holes (1963-2005), various soil sampling surveys and 15 geophysical surveys of varying vintages and quality including a 2005 high resolution airborne magnetic and VTEM survey. Selected data have been incorporated into 3D modelling software where the analysis indicates that the known mineralized zones remain open in all directions. As well, several encouraging zones on the property identified by trenching or scout drilling remain undelineated, providing the potential for discoveries outside the main Colchester and McNeilly zones. The upcoming geophysical survey will focus on the underexplored Old English area in an attempt to calibrate and test the IP technology as a drill target and geologic mapping tool in an area with both copper and gold potential. For example, drillhole H-83 intersected 65.7 m of 0.52% Cu including 17.1 m of 1.0% Cu in a continuously sampled sulfide bearing chlorite-quartz shear zone. Hole CC-03-09 intersected 4.2 grams/tonne gold over 2.9 m. A drilling program is planned to test encouraging IP anomalies identified in the current program, preferably before yearend. Based on the variety of mineralization identified from historic information and observed in the field, the Company believes the property will require systematic evaluation utilizing state of the art geophysical technology to direct the drilling strategy.

 

The following tables highlight some of the historic drill intersections retrieved from records at the Department of Natural Resources, Government of Newfoundland and Labrador. These composited intervals represent length-weighted averages and usually occur within wider mineralized sections grading below 1% copper (Table 1). The intervals are drilled thicknesses in holes generally inclined at 50-60 degrees into steeply dipping zones and are thus believed to represent near but not true thicknesses. Gold analyses were generally not carried out on the historic holes except for the 2003-2005 program (representing only 20 of the 110 holes on the property); highlights for drilling samples from that program exceeding 1 gram gold per tonne are presented in Table 2.

 

Table 1. Select composited historical Colchester copper drilling results

Hole-ID

Zone

From (m)

To (m)

Length (m)

Composited Cu (%)

436-11

McNeilly

86.28

90.83

4.55

4.55 m @ 3.82%

436-16

Colchester

142.30

157.60

15.30

15.30 m @ 1.02%

436-16

Colchester

167.94

178.13

10.19

10.19 m @ 1.07%

436-21

Colchester

23.96

38.10

14.14

14.14 m @ 1.95%

436-21

Colchester

53.04

71.63

18.59

18.59 m @ 1.61%

436-21

Colchester

53.04

73.10

20.06

20.06 m @ 1.51%

436-30

Colchester

59.74

69.98

10.24

10.24 m @ 2.20%

436-31

Colchester

175.26

189.07

13.81

13.81 m @ 1.07%

436-35

Colchester

76.20

90.37

14.17

14.17 m @ 1.06%

436-37

Colchester

46.02

57.21

11.19

11.19 m @ 1.33%

436-38

Colchester

183.28

193.55

10.27

10.27 m @ 1.16%

436-39

Colchester

178.61

192.27

13.66

13.66 m @ 1.01%

436-41

Colchester

128.96

155.45

26.49

26.49 m @ 1.43%

436-6

Colchester

106.68

131.06

24.38

24.38 m @ 1.21%

436-8

Colchester

119.09

131.98

12.89

12.89 m @ 1.32%

CC-03-02

Colchester

74.20

90.00

15.80

15.80 m @ 2.19%

CC-03-11

McNeilly

72.85

84.00

11.15

11.15 m @ 1.68%

CC-04-18

Colchester

34.30

46.90

12.60

12.60 m @ 1.15%

CC-04-19

Colchester

208.80

221.40

12.60

12.60 m @ 1.04%

H-45

Colchester

233.17

248.20

15.03

15.03 m @ 1.06%

H-48

Colchester

322.78

346.01

23.31

23.31 m @ 1.24%

H-49

Colchester

187.45

203.61

16.16

16.16 m @ 1.68%

H-50

Colchester

270.51

281.94

11.43

11.43 m @ 1.32%

H-51

Colchester

70.10

82.60

12.50

12.50 m @ 2.49%

H-51

Colchester

160.02

192.63

32.61

32.61 m @ 1.04%

H-52

Colchester

146.91

172.21

25.30

25.30 m @ 1.02%

H-61

McNeilly

69.34

82.30

12.96

12.96 m @ 1.97%

H-69

Colchester

192.02

202.69

10.67

10.67 m @ 1.27%

H-78

Old English

96.62

132.59

35.97

35.97 m @ 1.03%

H-83

Old English

118.02

137.16

17.14

17.14 m @ 1.01%

 


 

Table 2. Select composited historical Colchester gold drilling results > 1.0 g/t Au.

Hole-ID

Zone

From (m)

To (m)

Length (m)

Composited Au (g/t)

CC-03-02

Colchester

76.20

80.05

3.85

3.85 m @ 5.86 g/t

CC-03-03

Colchester

30.85

33.40

2.55

2.55 m @ 9.79 g/t

CC-03-03

Colchester

61.55

62.65

1.10

1.10 m @ 1.63 g/t

CC-03-04

Colchester

28.65

30.57

1.92

1.92 m @ 3.33 g/t

CC-03-07

Old English

29.56

31.54

1.98

1.98 m @ 1.28 g/t

CC-03-07

Old English

41.76

42.40

0.64

0.64 m @ 3.23 g/t

CC-03-07

Old English

47.85

49.07

1.22

1.22 m @ 2.03 g/t

CC-03-07

Old English

54.28

55.00

0.72

0.72 m @ 1.04 g/t

CC-03-08

Old English

42.00

43.00

1.00

1.00 m @ 1.53 g/t

CC-03-08

Old English

71.07

71.50

0.43

0.43 m @ 1.56 g/t

CC-03-08

Old English

72.48

73.03

0.55

0.55 m @ 2.06 g/t

CC-03-09

Old English

93.50

94.00

0.50

0.50 m @ 1.30 g/t

CC-03-09

Old English

97.60

100.50

2.90

2.90 m @ 4.18 g/t

CC-03-11

McNeilly

56.00

57.00

1.00

1.00 m @ 1.07 g/t

CC-03-11

McNeilly

80.00

81.00

1.00

1.00 m @ 1.54 g/t

CC-04-14

Colchester

32.35

33.95

1.60

1.60 m @ 1.65 g/t

CC-04-16

Colchester

183.50

185.10

1.60

1.60 m @ 1.17 g/t

CC-04-17

Colchester

18.60

19.30

0.70

0.70 m @ 1.07 g/t

 

 

The Colchester property is owned 100% by Vulcan with no underlying royalties and consists of over 2,500 hectares covering four past producing historic copper mines and is accessible by paved road approximately 25 kilometres off the Trans Canada Highway. The area is serviced by an airport at Deer Lake 110 kilometres to the southwest. Please refer to our webpage www.vulcanminerals.ca for location and geology maps.

 

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.

 

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

(709) 754-3186

info@vulcanminerals.ca  

www.vulcanminerals.ca