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VULCAN MINERALS INC (:VUL) Vulcan Minerals Inc. - Exploration Update on Colchester/Springdale and Red Cross Lake Projects in Newfoundland

Transparency directive : regulatory news

10/07/2024 14:20

ST. JOHN'S, NL / ACCESSWIRE / July 10, 2024 / Vulcan Minerals Inc. ("the Company" - "Vulcan" TSX-V:VUL), is pleased to provide the following exploration update on its 100% owned Colchester/Springdale and Red Cross Lake projects in central Newfoundland.

Highlights:

  • IP survey underway at McNeilly zone

  • Environmental Approval for Red Cross Lake access

Colchester Springdale (Copper-Gold)

Further to our ongoing work on this project, the Company has commenced an Induced Polarization (IP) survey at the McNeilly zone where the Company has had recent drilling success in expanding the volcanic massive sulphide copper-gold deposit (see news January 12, 2024). Previous IP surveys by the Company and historic operators have shown a positive correlation to copper zones. McNeilly appears to exhibit more than one copper zone based on recent drilling in 2023. This survey will help distinguish the trend of these zones. The survey will tie into a previous IP survey on the Colchester main deposit to the north and help establish the relationship between the two deposits. The survey consists of 20 line kilometers and will assist in directing further drilling.

The Company wishes to acknowledge the financial support of the Junior Exploration Assistance Program and the Provincial Critical Mineral Assistance Program administered by the Dept of Industry, Energy and Technology of NL in the amount of a $150,000 grant towards exploration work carried out in 2023 on the Colchester/Springdale project.

Red Cross Lake (Nickel-Copper)

As part of a proposed exploration program at Red Cross Lake, the Company applied for environmental approval for a river crossing at the outflow of Red Cross Lake to permit access for exploration and drilling activities. The project was registered with the NL Dept of Environment and Climate Change on May 09, 2024 and released from further review with conditions on June 20, 2024.

President Patrick Laracy commented, "We are active on our 100% owned Newfoundland projects as we add value to each of them notwithstanding the bear market conditions our industry is currently experiencing. Value added today will be leveraged in more favorable markets in the future. These projects are all road accessible resulting in very cost-effective exploration. We plan to drill either the Colchester/Springdale project or Red Cross Lake this year. However, both projects warrant drilling in due course."

About Vulcan

Vulcan Minerals is a precious and base metals exploration company based in St. John's, NL. The Company has strategic land positions in multiple active Newfoundland exploration and development belts. The Company has leveraged its exploration exposure in much of this land position through equity ownership of other explorers obtained by way of option and royalty agreements. It also owns approximately 30 per cent of the shares in Atlas Salt Inc. (TSXV:SALT). Atlas Salt is currently developing the Great Atlantic salt mine in western Newfoundland.

Patrick J. Laracy, P. Geo., President, is the qualified person who has reviewed and approved the technical contents of this news release as defined in National Instrument 43-101.

We seek safe harbour.

For information please contact:
Patrick J. Laracy, P.Geo.
CEO and President
(709) 754-3186
info@vulcanminerals.ca
www.vulcanminerals.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance of the Company, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this press release relate to, among other things: completion, delivery and timing of the referenced exploration program and assumptions related thereto. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, technical, economic, and competitive uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing, completion and delivery of the referenced assessments and analysis. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times. Except as required by law, the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

SOURCE: Vulcan Minerals Inc



View the original press release on accesswire.com

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