Vulcan Minerals updates Colchester/Springdale and Red Cross Lake Projects, Newfoundland

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Vulcan Minerals Inc. [TSXV-VUL] provided an exploration update on its 100%-owned Colchester/Springdale and Red Cross Lake projects in central Newfoundland.

Highlights: IP survey underway at McNeilly zone; Environmental Approval for Red Cross Lake access.

Colchester Springdale (Copper-Gold): Further to the company’s ongoing work on this project, it has commenced an Induced Polarization (IP) survey at the McNeilly zone where recent drilling had success in expanding the volcanic massive sulphide copper-gold deposit.

Previous IP surveys by the company and historic operators have shown a positive correlation to copper zones. McNeilly appears to exhibit more than one copper zone based on recent drilling in 2023. This survey will help distinguish the trend of these zones. The survey will tie into a previous IP survey on the Colchester main deposit to the north and help establish the relationship between the two deposits. The survey consists of 20 line kilometers and will assist in directing further drilling.

The company wishes to acknowledge the financial support of the Junior Exploration Assistance Program and the Provincial Critical Mineral Assistance Program administered by the Dept of Industry, Energy and Technology of NL in the amount of a $150,000 grant towards exploration work carried out in 2023 on the Colchester/Springdale project.

As part of a proposed exploration program at Red Cross Lake, the company applied for environmental approval for a river crossing at the outflow of Red Cross Lake to permit access for exploration and drilling activities. The project was registered with the NL Dept of Environment and Climate Change on May 09, 2024 and released from further review with conditions on June 20, 2024.

Patrick Laracy, president, commented, “We are active on our 100%-owned Newfoundland projects as we add value to each of them notwithstanding the bear market conditions our industry is currently experiencing. Value added today will be leveraged in more favorable markets in the future. These projects are all road accessible resulting in very cost-effective exploration. We plan to drill either the Colchester/Springdale project or Red Cross Lake this year. However, both projects warrant drilling in due course.”

Vulcan Minerals is a precious and base metals exploration company based in St. John’s, NL. The company has strategic land positions in multiple active Newfoundland exploration and development belts. Vulcan has leveraged its exploration exposure in much of this land position through equity ownership of other explorers obtained by way of option and royalty agreements. It also owns approximately 30% of the shares in Atlas Salt Inc. [TSXV-SALT]. Atlas Salt is currently developing the Great Atlantic salt mine in western Newfoundland.

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