- Vulcan Minerals (VUL) releases new exploration updates on its activities in Newfoundland and Labrador
- Vulcan has exposure to mineral exploration and development on 144,550 hectares
- Company looks forward to an active exploration season in 2023
- Springdale has potential for orogenic gold in quartz veins and copper/gold mineralization
- Vulcan owns a 100 per cent interest in 1,463 mineral clams covering 36,575 hectares.
- Vulcan Minerals (VUL) is down 2.63 per cent, trading at C$0.19 at 1:5 pm EST
Vulcan (VUL) will focus on the Colchester – Springdale project in 2023.
At this location, further geochemical work and drilling is planned.
According to Vulcan Minerals, the Carbonear project, has an expansive claim position focused on sedimentary exhalative zinc – lead potential in an area with geologic attributes similar to the giant Sullivan zinc-lead mine in British Columbia.
On site of the Carbonear project, there is gold and other metallic geochemical signatures which are present in historical data.
The company will finish an extensive soil geochemical program which was put into place last year, providing further ground work.
All of these projects may have the potential to further materially impact the value of the company.
President Patrick Laracy commented “Given the high grade nature of the historic showings [at the Springdale/Colchester area’, we are excited about the prospects for the area as we systemically generate results in 2023.”
As for Springdale Gold, soil samples were taken in late 2022.
The area has potential for orogenic gold in quartz veins and copper/gold mineralization.
The Maple Leaf showing occurs approximately 4 km along strike where quartz veins have yielded up to 54 g/t gold.
On site there was a grid over the Maple Leave showing which was partially sampled last year.
As for the Pine Pond grid, it had anomalous gold values with 10 soil samples assaying greater than 100 parts per billion (ppb) gold with the highest sample yielding 1540 ppb (1.54 g/t gold).
The grid runs along the east side of the Springdale highway with good access for an aggressive exploration program of further soil sampling, mapping, trenching and drilling in 2023.
Vulcan Minerals is a precious and base metals exploration company based in St. John’s NL.
Vulcan Minerals (VUL) is down 2.63 per cent, trading at C$0.19 at 1:5 pm EST.