Springdale copper-gold project continues to post encouraging exploration results, Newfoundland

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Vulcan Minerals Inc. [TSXV-VUL] provided 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 gold 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.

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 discontinuously exposed outcrop.

Thirty-three rock samples were collected in the Teapot area. Eight samples assayed greater than 100 parts per billion (ppb) gold with highlights of 6.65 g/t gold and 1.3 g/t gold. The showing requires prospecting along the full extent of the shear trend to evaluate its significance.

GroundTruth Exploration Inc. (GroundTruth) 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 100 metres spaced grid lines with 50-metre sample intervals.

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 gold and 33.5 g/t gold in grab samples. Historical sampling at Oak Leaf includes 31.5 g/t gold and 19.3 g/t gold in grab samples and 840 g/t gold 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 300 metres. The highest gold value in this anomaly is 125 ppb gold. A second northeast-southwest trending gold in soil anomaly extends over 200 metres approximately 100 metres south of the Oak Leaf prospect with a high value of 73 ppb gold. A 100-metre 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 ppm) and to the southwest of Oak Leaf. The copper in soil anomaly at Oak Leaf is continuous over 300 metres with a high value of 514 ppm copper.

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.

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.”

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.

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