NEWS RELEASE
July 30, 2008
Stock Symbol: TSX: VUL
Shares issued: 43,364,301
VULCAN MINERALS INC. � Tasisuak Lake Drilling Commences
St. John's - Newfoundland - Vulcan Minerals Inc. ("the Company" TSX-V: VUL)
is pleased to announce that it has been advised by Nortec Ventures Corp.
(Nortec) that drilling has commenced on the TL � Tasisuak Lake
nickel-copper-cobalt property in Northern Labrador. The property is
situated along a regional geological contact between Nain Plutonic rocks,
which hosts the Voisey�s Bay nickel-copper mine, and sulphur rich gneisses
near a crustal suture between two Precambrian continental plates. A
magmatic sulphide deposit model is applied to the area whereby sulphur
within the gneisses reacted with metal rich magmas sourced from a deep
rooted �plumbing system� along the continental plate suture to potentially
form nickel and copper rich massive sulphide bodies.
Drilling by Nortec and a previous operator on the property had identified
two nickel-copper bearing zones, known as the Long Pond zone and the �All
about it� zone. Several holes have encountered the mineralization including
the following:
Long Pond:
Hole
From (m)
To (m)
Intersection
Nickel %
Copper %
Cobalt %
05-54
5.5
13.8
8.30
0.84
0.37
0.02
Include
6.8
11.8
5.00
1.19
0.53
0.03
C1-2
19.98
23.7
3.72
0.72
0.38
0.02
All About It:
Hole
From (m)
To (m)
Intersection
Nickel %
Copper %
Cobalt %
C3-2
13.3
37
23.7
0.47
0.16
0.02
Include
16
21.23
5.23
1.15
0.42
0.04
The zones are approximately 600 meters apart and are interpreted to be
sourced by a deeper intrusive magma-chamber along an intrusive geometry
which is as of yet undetermined. The purpose of the current drill program
is to better define that intrusive geometry and potentially the location of
the magma source. As well the program will test prominent VTEM anomaly
targets identified from the recently completed airborne survey. The
property presents a variety of drill targets in a compelling environment
including the potential for platinum group elements.
Mineralization occurs as a sulphide phase associated with a gabbro intrusive
as well as sulphidic zones within the host paragneiss (Tasisuak gneiss),
believed to be genetically related to the intrusive event.
Nortec is earning a 51% working interest in the property with the possible
enlargement of that interest through a series of staged work commitments.
The drill program should be completed in about four weeks with results to
follow in due course. Maps and photos of the property have been posted on
the company�s website at www.vulcanminerals.ca
<http://www.vulcanminerals.ca/> .
Vulcan is a diversified junior exploration company focussed on petroleum
exploration in the under-explored Western Newfoundland 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 or Email:
info@vulcanminerals.ca, Website: www.vulcanminerals.ca
<http://www.vulcanminerals.ca/>
.