Mr. Patrick Laracy reports
VULCAN MINERALS INC. COMPLETES FIELDWORK ON SPRINGDALE COPPER-GOLD AND
CENTRAL NEWFOUNDLAND GOLD PROPERTIES
Vulcan Minerals Inc. has completed its 2017 field programs at its Springdale copper-gold property
and at all three projects -- Red Cross Lake, Glenwood and Lizard Pond -- of its Central Newfoundland gold
property.
Company geologists conducted a preliminary examination on the company's Springdale property, which includes the
flagship Colchester copper-gold project on the western side of the property and the past-producing
Little Bay copper mine on the eastern side of the property. Fieldwork was of a reconnaissance nature
and was intended to locate and characterize known zones of copper and gold mineralization and to
enable company geologists to integrate their observations into a broader understanding of the
geological environments that are likely to host copper and gold mineralization. The geologists collected
30 rock samples from outcrop, many of which contain high-grade copper and/or gold as shown in the attached table,
which summarizes the samples of note.
A team of prospectors collected 135 soil samples from an area known historically as Fallen Tree, located
in the south-central area of the Springdale property, approximately 3.5 kilometres east-northeast from the past-producing Rendell-Jackman copper-gold-zinc-silver mine. Several of the aforementioned rock samples are from
this area as well. Fallen Tree was discovered by previous explorers in 1996 during reconnaissance
prospecting and is described as having similar geology to known copper-gold zones elsewhere on the
Springdale peninsula. Trenching, rock and soil sampling, ground geophysics (very low frequency -- electromagnetic), and, finally,
exploration drilling were conducted in 1996. Field samples up to 1.8 grams per tonne gold and 1.1 per cent copper and 4.37
grams per tonne gold and 0.2 per cent copper from quartz/chert-sulphide veins exposed by trenching were obtained. Drilling
confirmed the presence of mineralization at depth, intersecting up to 1.30 metres of 1.04 grams per tonne gold. Vulcan
field samples confirmed the tenor of mineralization, obtaining up to 2.04 grams per tonne gold and 0.69 per cent copper
from the trench area. Results from the 135 soil samples have been received and have a maximum value
of 157 parts per billion gold, with four samples greater than 100 parts per billion; the average value is 10.6 parts per billion. The 95th percentile is
40 parts per billion gold.
SELECT RESULTS FROM
2017 SPRINGDALE PROPERTY
FIELD SAMPLING PROGRAM
Sample No. Cu Au
(%) (ppb)
145742 10.3 152
145728 9.31 7,280
145723 7.54 722
145724 5.09 3,520
145720 3.74 379
145722 3.34 190
145738 1.13 109
145721 0.94 162
145736 0.8 147
145726 0.693 2,040
145727 0.139 813
145725 0.056 1,260
In late July, the company mobilized a two-person team to its Glenwood property in central
Newfoundland to conduct reconnaissance prospecting. Outcrop is rare at this property, and few
outcrops or boulders were sampled by the team. Samples have not yet been sent for assaying. A total of
nine rock samples were collected by the team.
Following prospecting at Glenwood, the field crew mobilized to the Red Cross Lake property in central
Newfoundland. This property is less than four kilometres from Marathon Gold's property. The field crew
conducted rock sampling, in particular, searching for a boulder noted by explorers during nickel
exploration conducted in 2005 that contained 5.8 grams per tonne gold and was described as being of
metasedimentary origin. The company field crew did not locate this boulder. A wide-spaced soil sample
program was completed at Red Cross Lake and successfully identified several zones anomalous in gold,
sampling up to 73 parts per billion gold. Of the 63 samples collected, the average value is 14 parts per billion and the 95th
percentile is 25 parts per billion gold.
A crew of two prospectors and two geologists was mobilized to the company's Lizard Pond property to
conduct field reconnaissance prospecting and attempt to relocate and sample as many historical zones
of mineralization as possible on the main licence of the property. Field crews collected 21 rock samples,
mainly from historical trenches due to limited outcrop in the project area. Results for these samples are
pending, but will be released when they become available.
The 2017 field season successfully confirmed the prospectivity of the various mineral projects.
Geochemical and geological results from rock and soil surveys at both Red Cross Lake and Fallen Tree
warrant follow-up exploration. The company anticipates further, more advanced exploration in 2018,
particularly on the Springdale copper-gold property.
Patrick J. Laracy, PGeo, president, and Patrick Collins, PGeo, are qualified persons responsible for the
contents of this news release as defined in National Instrument 43-101.
We seek Safe Harbor.
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