Atlas Salt Inc. press release
Vulcan Minerals - Drill Program for TL Nickel-Copper Property in Labrador
TSXV - TSX Venture Exchange · Salt · Sodium · Gypsum · Aluminium · Canada
Stock Symbol: TSX: VUL Shares issued: 28,348,385
ST. JOHN'S, June 7 /CNW/ - Vulcan Minerals Inc. ("the Company" TSX-V: VUL) has been advised by the operator, Nortec Ventures Corp., a TSX Venture listed company, that drilling plans are proceeding on the TL Nickel-Copper Property in Labrador. Camp and Drill permits have been granted and received from the Department of Natural Resources, Government of Newfoundland and Labrador. Diamond core drilling, up to 4000 metres, is expected to commence in the first week of July 2005. The drill holes are designed to test the two strongest geophysical anomalies and the down dip extensions of previous drill intersections. Geophysical gravity and UTEM surveys are also planned to further define more targets on the property. The results from gravity, UTEM, magnetic surveys, and geological mapping carried out on the TL Property, Northern Labrador were compiled and interpreted by Dr. W.J. Scott P.Geo, P.Eng of Geoscott Exploration Consultants, St. John's, Newfoundland. Several drill targets with coincident strong gravity, UTEM and magnetic anomalies were identified on the property. These targets could represent nickel-copper mineralization occurrences at depth. Drilling by a previous operator intersected nickel bearing ultramafic dykes (up to 2.1% nickel), which could be small intrusions from a larger nickel bearing ultramafic body. Of these, two are very strong with distinct coincident UTEM and gravity anomalies. The "B" Anomaly is located on the western portion of the claims and the data for the anomaly suggest that it dips 30 degrees to the east. Several ultramafic pyroxenite bodies outcrop to the west in places where the anomaly is projected to surface. Drill holes to the east of the anomaly by the previous operator appear to be related to the down dip extension of the anomaly. The anomaly strikes 345 degrees on surface and can be traced for a distance of 1600 metres. The gravity anomaly values reach up to 0.31 milligals and, from modelling, the UTEM conductance values are greater than 2000 Siemens at depths from 75 to 130 metres. Gravity and UTEM data for the "A" Anomaly, located in the northeast part of the property, also suggest that the source for the anomaly is from a large ultramafic intrusive body. One of the previous operator's drill holes intersected and bottomed in 80 metres of gabbro in the area of this anomaly. The anomaly trends north-south with a steep dip and was delineated for a distance of 1800 metres. Gravity anomaly values reach up to 0.28 milligals and the UTEM model conductance values are around 2000 Siemens from depths of 50 to 65 metres.
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