Vulcan Minerals Inc. – Springdale Copper-Gold Project in Newfoundland Continues to Provide Encouraging Exploration Results
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
March 21, 2024
Vulcan Minerals Inc. – Springdale Copper-Gold Project in Newfoundland Continues
to Provide Encouraging Exploration Results
St. John’s, Newfoundland and Labrador - Vulcan Minerals Inc. (“the Company” -
“Vulcan” TSX -V: VUL) is pleased to provide the following exploration update on its
Springdale Copper-Gold project in north central Newfoundland.
Highlights:
• Newly discovered Teapot Prospect – Quartz veins assay up to 6.65 g/t Au
and up to 1.4% copper in separate samples
• Gold and copper soil geochemical anomalies at Pine Pond and West Brook
highlight new exploration targets
Teapot Prospect
In 2023 the Company discovered a new zone of shear-zone hosted gold bearing quartz
veins at the “Teapot” prospect while conducting ground follow up on soil geochemical
sampling completed in 2022. Mineralization at Teapot consists of gold in chalcopyrite,
galena and sphalerite bearing quartz veins hosted in sheared mafic volcanic rocks.
Sheared mafic rocks are traceable for up to 500 metres in discontinuous ly exposed
outcrop.
Thirty-three (33) rock samples were collected in the Teapot area. Eight (8) samples
assayed greater than 100 parts per billion (ppb) gold with highlights of 6.65 grams per
tonne (g/t) Au and 1.3 g/t Au. The showing requires prospecting along the full extent of
the shear trend to evaluate its significance.
Soil Geochemical Surveys
GroundTruth Exploration Inc. (Ground Truth) conducted soil geochemical surveys over
two grids in the Springdale project namely at Pine Pond and West Brook. A total of 923
soil samples were collected over the two grids. Sampling was carried out on 100m
spaced grid lines with 50m sample intervals. Maps with grid locations and sampling
results are available at https://vulcanminerals.ca/springdale-gold-copper-2023/
333 Duckworth Street, St. John's, NL, A1C 1G9
Telephone: (709) 754-3186 Fax: (709) 754-3946, Email: [email protected] Website: www.vulcanminerals.ca
Pine Pond Grid
The Pine Pond soil grid covers the Maple Leaf North, Maple Leaf South and Oak Leaf
Prospects. Historical sampling at Maple Leaf North and Maple Leaf South include 55.4
g/t Au and 33.5 g/t Au in grab samples. Historical sampling at Oak Leaf includes 31.5 g/t
Au and 19.3 g/t Au in grab samples and 840 g/t Au in heavy mineral stream concentrates.
Results for 409 soil geochemical samples taken over the Pine Pond Grid indicate a linear,
northeast-southwest oriented, gold in soil anomaly in the immediate vicinity of the Maple
Leaf North prospect extending over 300m. The highest gold value in this anomaly is 125
ppb Au. A second northeast-southwest trending gold in soil anomaly extends over 200m
approximately 100m south of the Oak Leaf prospect with a high value of 73 ppb Au. A
100m gold in soil anomaly with a high value of 73 ppb also occurs on the south end of
the grid near Pine Pond Brook.
Copper in soil anomalies are widespread at Pine Pond with the values concentrated near
the Maple Leaf North (259 parts per million (ppm)) and to the southwest of Oak Leaf. The
copper in soil anomaly at Oak Leaf is continuous over 300m with a high value of 514 ppm
Cu.
An historic trail was rehabilitated in 2023 providing access to the Pine Pond area which
will facilitate further exploration work including ground follow up of all soil anomalies.
West Brook Grid
The West Brook soil grid is located at the northern extent of the Springdale project.
Results from 473 samples identify several gold in soil anomalies with 4 samples assaying
between 50 – 100 ppb most notably along the West Brook valley fault.
Copper in soil anomalies along this valley are more pronounced on the northwest side of
the grid with 15 samples above the 98th percentile of 150 ppm.
President Patrick Laracy commented, “The Springdale project continues to provide very
encouraging exploration results. These results focus on new prospect areas outside of
the advanced Colchester copper -gold deposits and demonstrate the potential for more
copper-gold accumulations on the property. Our objective is to identify new targets while
enlarging the historic deposits which will contribute to the regional critical mass of tonnage
needed to re-establish the production potential of this historic copper mining camp. We
are currently formulating our 2024 exploration work program as we continue to add value
to the project.”
Quality Control
Vulcan used Eastern Analytical Ltd. (Eastern) and SGS Cana da Inc. for analysis of rock
samples in 2023. Eastern is located in Springdale, NL and is an ISO/IEC 17025
accredited laboratory. Vulcan employed Eastern’s ICP -34 multi -element analysis
package grouped with their gold by fire assay package and, for base metals assaying
greater than detection limits, an “ore -grade” multi -acid digestion package by atomic
absorption was used to finish the analysis. SGS Canada Inc. (SGS) analytical
333 Duckworth Street, St. John's, NL, A1C 1G9
Telephone: (709) 754-3186 Fax: (709) 754-3946, Email: [email protected] Website: www.vulcanminerals.ca
laboratories operate under a Quality Management System that complies with ISO/IEC
17025. Vulcan employed SGS’ four -acid digestion / ICP -OES multi -element analysis
package grouped with 30 g, fire assay, AAS finish for gold. A four-acid digestion / ICP-
OES “ore -grade” analysis package is utilized for base metals assaying greater than
detection limits. Rock samples were delivered by Vulcan to SGS in Grand Falls-Windsor
for preparation prior to analysis at the SGS Burnaby laboratory.
Vulcan contracted GroundTruth Exploration Inc. to complete the soil geochemical survey
at the Springdale Gold Project. Soil traverses were carried out on 100m spaced grid lines
with 50m stations. Samples were collected using hand augers to target C horizon soil.
GroundTruth collected 4 field duplicate samples per 100 samples. Samples were
delivered by GroundTruth to SGS in Grand Falls-Windsor for preparation prior to analysis
at the SGS Burnaby laboratory. Vulcan employed SGS’ two-acid leach / ICP-MS multi-
element analysis. SGS’s analytical laboratories operate under a Quality Management
System that complies with ISO/I EC 17025 and undertake their own internal coarse and
pulp duplicate analysis to ensure proper sample preparation and equipment calibration.
Preliminary inspection of these control samples shows them to be within the expected
limits.
About Vulcan
Vulcan Minerals is a precious and base metals exploration company based in St. John’s
Newfoundland. The company has strategic land positions in multiple active
Newfoundland gold and base metal exploration and development belts. It also holds
approximately 30.5% of the shares in Atlas Salt Inc. (TSXV: SALT). Atlas Salt is an
industrial minerals company currently developing the Great Atlantic Salt deposit in
western Newfoundland. It recently filed an environmental registration document with the
provincial government, a critical step towards permitting mine construction and
development.
Patrick J. Laracy, P. Geo. President, is the qualified person responsible for 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.
President
(709) 754-3186
www.vulcanminerals.ca
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333 Duckworth Street, St. John's, NL, A1C 1G9
Telephone: (709) 754-3186 Fax: (709) 754-3946, Email: [email protected] Website: www.vulcanminerals.ca
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