Vulcan Minerals Inc. – Fjordland Exploration commences drilling at Voisey’s Bay South
333 Duckworth Street, St. John's, NL, A1C 1G9
Telephone: (709) 754-3186 Fax: (709) 754-3946, Email: [email protected] Website: www.vulcanminerals.ca
News Release
July 16, 2018
Stock Symbol: TSX-V:VUL
Vulcan Minerals Inc. – Fjordland Exploration commences drilling at Voisey’s Bay
South
St. John’s Newfoundland and Labrador - Vulcan Minerals Inc. (the “Company”“Vulcan” TSX-
V:VUL) announces that Fjordland Exploration Inc. (“Fjordland”) has commenced drilling on its
South Voisey’s Bay project as described in a recent news release by Fjordland, a portion of
which is quoted as follows:
“Fjordland Exploration Inc. and project partners Commander Resources Ltd. and privately owned
High Power Exploration Inc. have begun the 2018 phase 1 drill program at the company's South
Voisey's Bay project, located in Labrador, Canada. The work is being financed by High Power
Exploration, which also is providing technical support. The initial program will comprise 1,300
metres of core drilling in six to eight holes, as well as property-wide geological mapping and
additional target assessment.
The SVB property is in central Labrador, about 80 kilometres south of Vale's Voisey's Bay nickel-
cobalt mine and covers the majority of the Pants Lake gabbro complex. The Pants Lake complex
consists of rocks with alteration and nickel mineralization styles consistent with high-nickel
prospectivity. This program is a continuation of the initial drill test undertaken in 2017 and will
target conductors derived from reprocessing of historical geophysical data. The geological
model for Voisey's Bay-style deposits emphasizes the strong role of structure in controlling
magma emplacement, as well as control of sulphide accumulation.
A high-resolution satellite-based radar survey completed earlier this year provides a new
structural data set that was utilized in interpreting and ranking the numerous modelled
conductors. Areas to be drill tested in the upcoming program include a follow-up target at Sandy
in the vicinity drilled in 2017, as well as targets at the south end of the project area referred to
as the South Gabbro and an area north of the Sandy target with two conductors, referred to as
the West and the East Bowl.”
333 Duckworth Street, St. John's, NL, A1C 1G9
Telephone: (709) 754-3186 Fax: (709) 754-3946, Email: [email protected] Website: www.vulcanminerals.ca
Fjordland has permitted several areas for drilling. These are shown on the attached map in
relation to Vulcan’s claims. The Sandy and South Gabbro drill hole locations occur either on or
adjacent to Vulcan’s mineral claims which have been optioned to Fjordland. The decision as to
which of these permitted locations will be ultimately drilled and in what order will await further
news from Fjordland.
Patrick Laracy, President, commented “We commend Fjordland on its perseverance and
commitment to the South Voisey’s Bay Project and wish them success on their latest drill
program. High-grade nickel sulphide deposits provide a source of nickel which is favored in
lithium ion battery technology. The projected growth in battery usage is expected to underpin
an increase in demand for such sulphide nickel deposits. Any drilling success at Voisey’s Bay
South may rekindle exploration in the larger Voisey’s Bay area. The Company has positioned
itself with a recently acquired strategic land position approximately 12 km directly west of the
Vosiey’s Bay mine and immediately adjacent to Vale’s (mine operator) claims. There has been
significant staking activity west and south of Voisey’s Bay with approximately 3000 claims
staked in the last few months. We are undertaking a review of all historic geophysical data on
our claims which we interpret as being in a structurally favourable area for a Voisey’s Bay type
deposit”
As previously reported, the Company has signed a binding Letter of Intent with Fjordland
granting Fjordland the option to acquire a 65% working interest in 30 mineral claims located in
the South Voisey’s area, Labrador. Under the terms of the agreement, Fjordland has the option
to pay Vulcan $45,000 and incur $150,000 in exploration expenditures over a period of three
years. If the option is exercised a joint venture will be formed whereby Vulcan will be carried
for 100% of its joint venture expenditures on the claims until Fjordland earns its full interest
from Commander Resources Ltd. (“Commander”) on surrounding contiguous lands or a
minimum expenditure of $7 million on those lands.
Patrick J. Laracy, P. Geo, President, is the qualified person responsible for the contents of this
news release as defined in National Instrument 43-101.
We seek Safe Harbor.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy
or accuracy of this release. This release may contain certain forward -looking statements. Actual
events or results may differ from the Company’s expectations. Certain risk factors beyond the
Company’s control may affect the actual results ach ieved. Accordingly, readers are advised not
to place undue reliance on forward -looking information. Except by law, the Company
undertakes no obligation to publicly update or revise forward-looking information.
For information please contact:
Patrick J. Laracy, P .Geo. President
(709) 754-3186
www.vulcanminerals.ca