Mr. Patrick Laracy reports
VULCAN MINERALS INC. DRILLS 5.10 M OF 1.6% COPPER AT COLCHESTER
COPPERGOLD PROJECT IN NEWFOUNDLAND
Vulcan Minerals Inc. has received final assay results from the recently completed drilling program
at the Colchester copper/gold project in north-central Newfoundland. As previously reported, four holes
totalling 824 metres were drilled at the Old English zone to explore the possible extensions of historical drill
intersections of copper and gold mineralization. Vulcan assayed 127 samples from this drilling program.
The program was very successful in reaching its objectives of confirming mineralization tenor and geology,
as well as providing initial calibration of the recently completed high-resolution induced polarization survey.
OE1601 was designed to twin historical hole CC0309, drilled in 2003 by a previous operator. OE1601
was successful in confirming a general correspondence in major lithological units and mineralized zones.
Mineralization intersected in OE1601 was primarily disseminated to stringer sulphides, with local massive
sulphides composed of up to 8.79 per cent copper and 1.75 grams per tonne gold over 0.77 metre (core thickness). At
depth, a broad zone of silicified, foliated chalcopyritepyritechert stringers were intersected over
approximately 19 metres (core thickness), highlighted by 5.99 metres of 1.05 per cent copper and 231 parts per billion gold.
OE1602 (120 m northeast of OE1601) was designed to step out from historical holes H76 and H78,
drilled in 1970 by a previous operator. It intersected zones of foliated quartz porphyry that were not
intersected in the historical holes. Narrow intervals of strongly foliated mafic volcanics hosting
disseminated to locally stringerstyle banding of pyrite with minor chalcopyrite are interspersed within
the unmineralized porphyry. At depth, a quartz-chalcopyrite vein with surrounding disseminated pyrite
and chalcopyrite assayed 5.07 per cent copper over 1.03 m. Zones of disseminated sulphides occur throughout the
hole.
OE1603 (190 m northeast of OE1601) was designed to undercut historical holes CC0307 and CC0308, drilled in 2003 by a previous operator. This hole intersected the same copper-zinc zones as the
historical drilling. These zones differ from OE1601, 02 and 04 in that they are not hosted by chlorite
schist but by silica-flooded, foliated mafic volcanics bearing disseminated to commonly stringer
chalcopyritepyritechert or pyritesphaleritechert mineralization. This area of Old English appears to be
a distinct structural sliver relative to the holes farther southeast.
OE1604 (200 m south of OE1601) was not specifically located in reference to any historical holes but was
designed to test a chargability anomaly from the induced polarization geophysical survey completed by
Vulcan in late 2016. This hole intersected a broad zone of disseminated sulphide mineralization that was
dominated by pyrite and minor chalcopyrite and hosted by chlorite schist, assaying 0.22 per cent Cu over 16.54
m. It is believed that this sulphide mineralization at least partially explains the chargability anomaly targeted
by this hole. Near the bottom of the hole, several strongly silicified altered felsic dikes with quartz
carbonatepyrite veins were intersected.
DRILLING RESULTS
Hole From (m) To (m) Length (m) Cu (%) Au (g/t)
OE1601 48.52 65.27 16.75 0.69 0.16
Including subintervals
OE1601 52.85 53.62 0.77 8.79 1.75
OE1601 48.52 53.62 5.10 1.60 0.32
OE1601 83.00 85.76 2.76 0.75 0.11
OE1601 89.30 92.26 2.96 0.84 0.09
OE1601 170.64 176.63 5.99 1.01 0.23
OE1602 146.36 147.39 1.03 5.07 0.11
OE1603 70.73 84.18 13.45 0.65 0.24
Including subinterval
OE1603 76.73 84.18 7.45 1.02 0.32
OE1603 93.50 96.50 3.00 0.60 0.08
OE1604 16.00 32.54 16.54 0.22 0.08
The attached table summarizes composited assay intervals described herein. These intervals are length-weighted
averages of core thickness intervals. Individual sample widths do not exceed two metres. Internal dilution
occurs in the OE1601 interval from 48.52 to 65.27 m and comprises 3.88 m of unassayed core and in OE1603 from 70.73 to 84.18 metres, including subinterval 76.73 to 84.18 metres comprising an interval of 0.73
m. In each instance, the unassayed interval is assigned a copper value of zero part per million (that is, the unassayed interval
does not contribute positive value to the overall composite).
Vulcan used Eastern Analytical Ltd. for all sample assaying in this drilling program. Eastern
Analytical is located in Springdale, Nfld., and is an ISO/IEC 17025-accredited laboratory. Vulcan employed
Eastern's ICP34 multielement analysis package grouped with gold by fire assay package, and, for
base metals assaying greater than detection limits (10,000 ppm), an ore grade multiacid digestion
package by atomic absorption was used to finish the analysis. Vulcan employed the use of standard
reference materials for quality control and quality assurance at a rate of 7 per cent of total samples. Preliminary
inspection of these control samples shows them to be within the expected limits.
Patrick J. Laracy, president, commenting on the program, noted: "We acquired this project in May, 2016, and
moved quickly to undertake an extensive digital compilation of historic data, a preliminary geologic field
assessment, a high-resolution IP geophysical program and an introductory round of confirmation drilling
by December, 2016. I am very pleased with the drilling results and the significant progress made at
Colchester. Given the extensive nature of mineralization on this property, we will continue to carry out a
serious evaluation with further drilling planned for 2017."
The Colchester property is owned 100 per cent by Vulcan and is accessible by paved road approximately 25
kilometres off the TransCanada Highway. The area is serviced by an airport at Deer Lake 110 kilometres
to the southwest. Please refer to the company's web page for location and geology maps.
The 2016 work program is eligible for financial assistance from the junior exploration assistance program
of the government of Newfoundland and Labrador.
Mr. 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.
Vulcan is establishing itself as a leading explorer in Newfoundland and Labrador focused on project
generation, value addition and partnering. Vulcan has projects available for option, including Colchester,
and a competent team to operate all exploration activities.
We seek Safe Harbor.
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