Vulcan Minerals Inc. Grabs 21.6 grams per tonne Gold at Burnt Berry in Newfoundland
ST. JOHN’S, Newfoundland and Labrador, May 10, 2021 (GLOBE NEWSWIRE) -- Vulcan Minerals Inc. (“the Company” - “Vulcan” TSX-V: VUL), is pleased to provide an update on its
Springdale Gold Project
In late 2020 a prospecting team visited the southwestern part of the Springdale property in north central Newfoundland to evaluate the access to and verify the existence of historically reported trenches at the Burnt Berry, Mistaken Pond and Fallen Tree gold showings. Access was found to be very good along a gravel road and ATV trails. Three trenches were located at Burnt Berry, each approximately 15 meters in length. A single trench was located at Fallen Tree approximately 45 meters in length. The showings are separated over an area of 3 kilometers and occur in quartz pyrite-sulphide veins hosted in sheared mafic volcanic rocks. Cursory sampling (19 grabs) yielded elevated to anomalous gold up to 21.6 grams per tonne at Burnt Berry. Fourteen of those samples yielded anomalous copper up to 0.33%. This information is being integrated into the larger Springdale Colchester field program design. The Company has obtained permits for trenching, drilling and geochemistry on the project.
Given the nature of the mineralization and its location within the historic mining district of Springdale, further work is warranted. Maritime Resources Corp. is currently redeveloping the Hammerdown gold mine approximately 5 kilometers southwest of the Springdale property in similar style geology.
Red Cross Lake Nickel Copper Gold
Geotech Ltd has completed and the Company has received the final data from the airborne VTEM plus time-domain EM survey on the Red Cross Lake property in central Newfoundland. The survey consisted of 361 line kilometers on a 100 meter line spacing. The purpose of the survey was twofold. Firstly, to test for the geophysical signature of a magmatic nickel-copper deposit and secondly to delineate detailed structure and geology which immediately offsets Marathon Gold Corp’s claims to the west. The Red Cross property covers a trans-tensional zone within a flexure on the Valentine Lake fault containing a mafic/ultramafic intrusion. This is the first time the property has been flown with a modern time domain electromagnetic system having deep penetration and discerning conductive capability. The data has been forwarded to a consulting geophysicist with well established expertise in the interpretation of these data. The company is awaiting this interpretation which will determine next steps. In anticipation of further work, the company has obtained permits to carry out geochemical sampling and is applying for a drilling permit.