ST. JOHN’S, Newfoundland, April 27, 2022 (GLOBE NEWSWIRE via SEAPRWire.com) — Vulcan Minerals Inc. (“the Company” – “Vulcan” TSX-V: VUL), provides the following exploration update.
Colchester Springdale Drilling Update
The Company is still waiting for drill assay results. A total of 1511 meters were drilled over 8 scout holes in late 2021 testing a variety of targets within mafic volcanic sequences at Colchester. Several stringer and disseminated sulfide zones were encountered containing chalcopyrite with variable associations of pyrite, pyrrhotite and sphalerite. The program was successful in intersecting copper sulphide zones visually similar to the stringer zones historically encountered in the Colchester area. A total of 621 samples were cut and submitted for assay. Backlogs in the laboratory are creating extraordinary delays in getting assay results. Results are expected in the next 2-3 weeks. They will be released after compilation and review.
The Colchester project is part of the larger Springdale property which hosts numerous historic copper and gold deposits and showings, none of which have been adequately explored with the benefit of modern digital geophysical and geological modelling. The Springdale property is road accessible and near significant mining services.
A review of the relevant data with maps is available in the corporate presentation at the company’s website landing page, www.vulcanminerals.ca.
New Project Generation
The Company continues to generate and stake new gold and base metal projects as part of its ongoing strategy to leverage its geologic knowledge base in Newfoundland and Labrador. An impressive land package has been acquired and further evaluation and strategic work continues. Upon completion of this work, the Company will provide a description of these properties and the exploration strategy.
President Patrick Laracy noted “Newfoundland and Labrador is one of the most exciting mineral exploration destinations in the world given its high geologic prospectivity coupled with recent discoveries. We believe that the province will be a significant player in the tremendous upside potential of the mineral exploration business as it responds to the increasing demand for minerals to facilitate a transition to cleaner energy solutions.”
Vulcan Minerals is a precious and base metals exploration company based in St. John’s Newfoundland. The company has strategic land positions in multiple active Newfoundland gold exploration and development belts. It also holds approximately 36% of the shares in Atlas Salt Inc. (TSXV: SALT). Atlas Salt is an industrial minerals company that is carrying out a feasibility analysis on its Great Atlantic Salt deposit. It also produces gypsum from its Ace Mine and owns the mineral rights to the Fischell’s Brook salt dome and other strategic salt claims. These Atlas’s projects are in western Newfoundland.
Patrick J. Laracy P.Geo, President is the qualified person responsible for the technical contents of this news release as defined in National Instrument 43-101.
We seek safe harbour.
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.