Vulcan Minerals Inc. – Expands Gander Belt Gold Claims in Newfoundland
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 14, 2020
Vulcan Minerals Inc. – Expands Gander Belt Gold Claims in Newfoundland
St. John’s Newfoundland and Labrador - Vulcan Minerals Inc. (“the Company” -
“Vulcan” TSX-V:VUL) is pleased to announce that it has acquired, through staking,
an additional 214 mineral claims in the Gander Belt of central Newfoundland. The
claims contain or are on trend with known gold showings, epithermal
mineralization characteristics or favorable geochemical signatures from regional
lake and till samples . Additional details will be forthcoming. The Gander Belt
extends over 100 kilometers from the north coast of Newfoundland to the south-
central part of the island and is constrained by two regional structures, the Dog Bay
Line to the west and the GRUB Line to the east. Newfound Gold Corp. has reported
drill results within the belt of up to 92.86 g rams/tonne gold over 19.0 meters
including 285.2 g/t gold over 6.0 meters (Queensway project) as per a news release
dated January 28, 2020. T his, combined with other gold developments in the
province and the rising price of gold, has resulted in a staking rush through out the
belt. Vulcan’s new claims are accessible by paved and woods roads. These claims
are in addition to the Lizard Pond project (42 claims) in the south part of the belt.
Previous work by the company at Lizard Pond confirmed the historic gold potential
of the area.
The Company now has exposure to three of the most active gold exploration belts
in the province, including the Valentine Lake trend and the Green Bay fault trend.
At Valentine Lake, Marathon Gold Corp is developing Newfoundland’s largest gold
deposit with estimated resources exceeding 4 million ounces gold in all categories
(per news release dated April 06, 2020). Vulcan’s Red Cross Lake project is adjacent
to and is within 4 km of the main marathon deposit along a favorable structural
corridor. At Green Bay, Maritime Resources Corp. is in the process of reactivating
333 Duckworth Street, St. John's, NL, A1C 1G9
Telephone: (709) 754-3186 Fax: (709) 754-3946, Email: [email protected] Website: www.vulcanminerals.ca
the Hammerdown gold mine and related deposits. Vulcan’s Colchester/Springdale
project lies immediately northeast of Maritime ’s acreage. It includes the Burnt
Berry prospect which ha s returned historic channel samples by Noranda of 6.67
grams per tonne gold over 7.2 meters from quartz carbonate veining in a volcanic
sequence (as per work assessment reports filed with the provincial government).
The Company has already commenced its 2020 exploration season with a scouting
trip to Springdale to prospect and investigate optimal access to several known gold
occurrences including the Maple Zone which has reported historic grab samples of
66 grams per tonne gold and up to 850 grams per tonne gold in heavy mineral
concentrates from stream sediments. Further exploration work in all three belts is
planned for this year subject to financing.
Patrick Laracy, President commented “Its encouraging to see the increas ing
interest in gold exploration in Newfoundland. We have assembled strategically
located properties over the last couple of years and look forward to an accelerated
rate of exploration as the equity markets improve for the junior mining sector. Our
local knowledge of Newfoundland geology and exploration history helps us
generate selective exploration projects.”
A location map for the newly acquired Gander Belt claims is attached to this news
release and can be accessed at www.vulcanminerlas.ca
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
achieved. Accordingly, readers are advised not to place undue reliance on forward -looking
information. Except by law, the Company undertakes no obligation to pub licly update or revise
forward-looking information.
For information please contact:
Patrick J. Laracy, President
(709) 754-3186
www.vulcanminerals.ca
333 Duckworth Street, St. John's, NL, A1C 1G9
Telephone: (709) 754-3186 Fax: (709) 754-3946, Email: [email protected] Website: www.vulcanminerals.ca