Atlas Salt Inc. press release
Drilling returns 0.87% nickel and 0.38% copper over 8 meters (including 2.19% nickel across 0.7 meters) in Labrador
TSXV - TSX Venture Exchange · Salt · Sodium · Gypsum · Aluminium · Canada
Stock Symbol: TSX: VUL Shares issued: 28,510,884
ST. JOHN'S, NL, Sept. 9 /CNW/ - Vulcan Minerals Inc. ("the Company" TSX-V: VUL), announces that diamond core drilling has been completed on the TL nickel-copper property, located 50 kilometres northwest of the Voisey's Bay nickel-copper deposit, Northern Labrador. Fourteen holes (Hole Numbers 41 to 54) were drilled totalling 2300 meters on 5 targets identified by geophysical methods and geology. The cores were cut with a diamond saw and the splits were analysed for nickel, copper, and cobalt at Eastern Analytical Ltd. in Springdale, Newfoundland. The five targets were the Pond Zone, West Anomaly, B1 Anomaly, Goose Feather Anomaly and the All-About-It East Anomaly. Significant results were obtained from drill hole 54 (last hole of the program) while marginal results were obtained from drill hole 44 on the Pond Zone. The drill holes on the Goose Feather Anomaly returned anomalous copper and nickel values. The results are summarized as follows:
Pond Zone: << Drill Hole 54
From To Width Nickel Copper Cobalt (metres) (metres) (metres) (%) (%) (ppm) 5.5 13.8 8.30 0.84 0.37 231 5.8 13.8 8.00 0.87 0.38 239 6.8 13.8 7.00 0.97 0.43 266 6.8 12.8 6.00 1.09 0.48 298 6.8 11.8 5.00 1.19 0.53 235
Included in this is a 0.7 meter intersection assaying 2.19% nickel and 0.35% copper. More drilling is required to determine the true widths and the source of the mineralization. The mineralization is contained within troctolitic gabbroic intrusive rocks and consists of pyrrhotite, pentlandite and chalcopyrite up to 40% in places and exhibits leopard textures typical of mineralization at the Voisey's Bay orebody. The hole was designed to trace the source of the sulphide mineralization and intersected several gabbro bodies at depth. It was terminated at 325 meters due to drilling problems.
Drill Hole 44
From To Width Nickel Copper Cobalt (metres) (metres) (metres) (%) (%) (ppm) 65.3 66 0.7 0.14 0.04 56 66 67 1 0.23 0.08 82 67 68 1 0.16 0.05 64 68 69 1 0.25 0.13 87 69 69.75 0.75 0.25 0.07 86
Drill hole 46 on the Goose Feather anomaly returned values in the range of 100 to 580 ppm copper and 100 to 370 ppm nickel over 10 meters. Drilling on the West Anomaly, B1 Anomaly and the All-About-It East intersected graphitic conductors and returned no significant values. All the results are being compiled and evaluated in order to plan for the next phase of the work program. The Company is pleased with the results of drill hole 54 and anticipates that there will be extensive follow-up drilling by the operator to locate the source of the near-surface magmatic mineralization. Nortec Ventures Corp. is the operator of the project pursuant to an option with Vulcan Minerals Inc. whereby Nortec has a right to earn a 51% interest in the property. Mr. Mohan R. Vulimuri, M.Sc., P.Geo., President and Director of Nortec, is the person responsible for initiating and guiding the work program on the TL Property. He is the qualified person in accordance with National Instrument 43-101 guidelines.
Storm No. 1 Update
Further to the news release of August 26, 2005 the Company has decided to plug and abandon Storm No. 1 in Western Newfoundland following numerous unsuccessful attempts at retrieving the stuck tool down hole. The Company expects to mobilize its rig to the next drill location next week. Details on that target will be provided in a separate news release.
The TSX Venture Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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