October 7, 2008
Stock Symbol: TSX:VUL
Shares Issued: 43,589,301
Vulcan Minerals Inc. � 14 Metres of 1.02% Nickel Drilled at the Tasisuak Lake Property in Labrador
Vulcan Minerals Inc. (�the Company� TSX-V: VUL) is pleased to announce that it has been advised by Nortec Ventures Corp. (Nortec), the operator, that the recent summer drill program at Tasisuak Lake in Labrador has encountered significant Nickel (Ni), Copper (Cu), Cobalt (Co) mineralization highlighted as follows:
- 14 metres of 1.02% Ni, 0.51% Cu, 0.03% Co (Hole 08-AA-60)
- 9 metres of 1.02% Ni, 0.55% Cu, 0.04% Co (Hole 08-LP-55)
- 3 metres of 1.04% Ni, 0.38 Cu, 0.03% Co (Hole 08-LP-56)
- 3 metres of 1.01% Ni, 0.39% Cu, 0.04% Co (Hole 08-AA-62)
The drill program consisted of 1960 metres of Diamond coring over 18 holes. The program was designed to test a variety of surface showings and VTEM geophysical anomalies.
2008 Drill Locations
Hole_ID | Prospect | Easting (m) NAD27_z20 | Northing (m) NAD27_z20 | Elevation (m) | Azimuth (degrees) | Dip (degrees) | Total Depth (m) |
08-LP-55 | Long Pond | 512372 | 6270033 | 484 | 105 | -50 | 137.2 |
08-LP-56 | Long Pond | 512372 | 6270033 | 484 | 130 | -80 | 107.84 |
08-LP-57 | Long Pond | 512413 | 6270013 | 476 | 320 | -80 | 156.6 |
08-AA-58 | All About-it | 512310 | 6270400 | 508 | 108 | -50 | 39.63 |
08-AA-59 | All About-it | 512310 | 6270400 | 508 | 108 | -80 | 28.05 |
08-AA-60 | All About-it | 512266 | 6270635 | 534 | 140 | -50 | 118.9 |
08-AA-61 | All About-it | 512266 | 6270635 | 534 | 140 | -80 | 86.57 |
08-AA-62 | All About-it | 512283 | 6270628 | 533 | 320 | -45 | 64.02 |
08-BZ-63 | B-Zone | 512550 | 6271400 | 500 | 80 | -85 | 287.15 |
08-NB-64 | No Baccy | 512233 | 6270947 | 542 | 75 | -45 | 79.9 |
08-NB-65 | No Baccy | 512250 | 6270952 | 544 | 255 | -60 | 51.21 |
08-NB-66 | No Baccy | 512251 | 6270920 | 540 | 80 | -45 | 100.5 |
08-BZ-67 | B-Zone | 512752 | 6270667 | 502 | 270 | -60 | 140.24 |
08-BZ-68 | B-Zone | 512883 | 6269979 | 493 | 270 | -75 | 115.85 |
08-BZ-69 | B-Zone | 512921 | 6269998 | 491 | 260 | -45 | 82.32 |
08-FZ-70 | F-Zone | 513355 | 6268989 | 496 | 270 | -60 | 109.76 |
08-AZ-71 | A-Zone | 513639 | 6269988 | 515 | 270 | -60 | 118.9 |
08-BZ-72 | B-Zone | 512497 | 6271773 | 470 | 350 | -80 | 136.28 |
Generally, the holes testing geological targets along the C-zone (holes 56-66, except 63) proved to contain the best mineralization with disseminated to semi-massive sulphide textures, as follows:
2008 Drill Results
Hole_ID | From (m) | To (m) | Interval (m) | Nickel % | Copper % | Cobalt % | Platinum, palladium+Gold g/t |
08-LP-55 | 7 | 21 | 14 | 0.80 | 0.85 | 0.03 | 0.36 |
Incl. | 10 | 19 | 9 | 1.02 | 0.55 | 0.04 | 0.40 |
incl. | 7 | 13 | 6 | 1.02 | 1.59 | 0.05 | 0.30 |
WITH | 7 | 8 | 1 | 0.55 | 4.02 | 0.03 | 0.30 |
08-LP-56 | 8 | 25 | 17 | 0.41 | 0.15 | 0.02 | 0.16 |
incl. | 8 | 14 | 6 | 0.69 | 0.24 | 0.02 | 0.21 |
incl. | 9 | 12 | 3 | 1.04 | 0.38 | 0.03 | 0.28 |
08-LP-57 | NSI | | | | | | |
08-AA-58 | 8 | 13 | 5 | 0.11 | 0.05 | 0.07 | 0.05 |
08-AA-59 | NSI | | | | | | |
08-AA-60 | 3 | 42 | 39 | 0.57 | 0.28 | 0.02 | 0.25 |
incl. | 6 | 20 | 14 | 1.02 | 0.51 | 0.03 | 0.35 |
WITH | 13 | 14 | 1 | 2.15 | 0.38 | 0.05 | 0.36 |
08-AA-61 | 2 | 31 | 29 | 0.42 | 0.21 | 0.02 | 0.15 |
incl. | 5 | 6 | 1 | 1.62 | 0.66 | 0.05 | 0.35 |
incl. | 8 | 10 | 2 | 1.23 | 0.34 | 0.04 | 0.41 |
08-AA-62 | 5.5 | 41.5 | 36 | 0.42 | 0.19 | 0.02 | 0.19 |
incl. | 7.5 | 10.5 | 3 | 1.01 | 0.39 | 0.04 | 0.63 |
incl. | 11.5 | 13.5 | 2 | 1.09 | 0.25 | 0.06 | 0.53 |
08-NB-64 | 5.50 | 11.5 | 6 | 0.75 | 0.22 | 0.02 | 0.32 |
incl. | 5.50 | 7.5 | 2 | 1.47 | 0.28 | 0.03 | 0.46 |
08-NB-65 | 7.70 | 8.7 | 1. | 1.21 | 1.04 | 0.03 | 0.03 |
08-NB-66 | 15.25 | 16.25 | 1 | 0.29 | 0.07 | 0.01 | 0.08 |
Drill holes 63, 67-72 tested a series of VTEM Anomalies in the B, F and A zones and did not encounter any significant nickel-copper mineralization. However, three of the holes did encounter a massive pyrrhotite zone up to 3 meters in thickness with gold enrichment of 1 gram/tonne over 2 metres in hole 68. As well, some zones of anomalous platinum (Pt) and palladium (Pd) were encountered. Hole 63 encountered the thickest gabbroic body over 69.4 metres though no significant mineralization was encountered.
The Tasisuak Lake property is situated approximately 50 kilometres northwest of the world class Voisey Bay nickel-copper-cobalt mine. The property covers significant outcrops of Tasiuyak gneisses hosting mafic intrusions which contain the nickel-copper mineralization. The genesis and style of mineralization remains unexplained in the context of the regional setting and timing of emplacement. The Company plans to carry out geochemical and petrographic analysis of the mineralization and host rocks to answer these questions and assist in further exploration of the property. The property contains many untested geophysical anomalies and surface showings. The C-zone mineralization remains open in a north-south direction in excess of 5 kilometers based on its geophysical signature. The Company is encouraged by these drill results and notes that they are some of the highest grade over width nickel-copper intersections drilled in Labrador outside of Voisey�s Bay.
Kingurutik Property
As part of the recently signed agreement between Nortec and Vulcan, Nortec commissioned Geotech Ltd. (�Geotech�) to carry out a 417 line-km helicopter-borne geophysical survey for Nortec over the Kingurutik River Property, 70km north of the Tasisuak Lake property. The airborne geophysics consisted of a versatile time domain electromagnetic (�VTEM�) survey and total magnetic intensity (�TMI�) using a cesium magnetometer.
There are 5 main anomalies identified from the geophysical survey. Three of these anomalies are located in the north central part of the claim and have E-W trending conductors with coincident magnetic highs possibly related to metallic mineralization in the form of mixed magnetite and pyrrhotite dominated sulphides.
As part of a first pass exploration drill program, 3 holes were drilled for a total of 321metres. The holes targeted the potential near-surface mineralization and coincident geophysical anomaly on Prospect A. Though sulphide mineralization was encountered it did not contain any significant nickel and copper. Geological and geophysical interpretation of the property is ongoing towards delineation of further drill targets.
Drillhole Collar co-ordinates on the Kingurutik River Property
Hole_ID | Prospect | Easting (m) NAD27_z20 | Northing (m) NAD27_z20 | Elevation (m) | Azimuth (degrees) | Dip (degrees) | Total Depth (m) |
08-KG-01 | A | 504162 | 6317813 | 555 | 270 | 45 | 121 |
08-KG-02 | A | 504010 | 6318762 | 480 | 320 | 45 | 100 |
08-KG-03 | A | 504300 | 6318912 | 391 | 320 | 45 | 100 |
All core samples were cut in half by Diamond saw, packaged and sealed in the field before being shipped to Accurassay Laboratories receiving facility in Gambo South, NL where they were prepared and forwarded to the main lab in Thunder Bay, ON. Samples were tested for 30 elements (including base metals) with an ICP (Inductively Coupled Plasma) process. Samples exceeding detection limits were processed for ore grade analysis with an AA (Atomic Absorption) process. All samples were also analyzed for Au, Pt and Pd with a fire assay process. QA/QC was maintained by the laboratory by running duplicates and repeats, and also with blind duplicates inserted into the sample stream directly from the field.
Further information on the TL and Kingurutik River Properties is available on Vulcan�s website www.vulcanminerals.ca and also on Nortec�s website at www.nortecventures.com. Mr. Mohan Vulimiri, P.Geo., President & CEO and Director of Nortec, is the Qualified Person responsible for the supervision of the field programs and the results provided in this news release.
Vulcan is a diversified junior exploration company focussed on petroleum exploration in the under-explored Western Newfoundland and Labrador area and also holds mineral interests in areas strategic to its operations in Newfoundland and Labrador.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company�s expectations. Certain risk factors may also affect the actual results achieved by the Company.
There can be no assurance that forward-looking information will prove to be accurate. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
For information please contact Mr. Patrick Laracy, President of Vulcan Minerals Inc. at:
Phone: (709) 754-3186
Fax: (709) 754-3946
Email: info@vulcanminerals.ca,
Website: www.vulcanminerals.ca
