ST. JOHN'S, Newfoundland and Labrador - Vulcan Minerals Inc. (TSX-V: VUL), a resource exploration company, disclosed significant copper and gold assay results from its McNeily drill program within the Colchester project in central Newfoundland. The company revealed notable findings, including 15 meters of 1.21% copper and 0.51 grams per tonne gold, with higher concentrations in certain intervals, such as 6.75 meters of 2.38% copper and 1.01 grams per tonne gold.
The drilling campaign, which took place in late 2023, encompassed 1001 meters across six holes targeting mafic volcanic rock sequences. The mineralization encountered includes stringer, disseminated, and semi-massive sulfide zones, primarily consisting of chalcopyrite along with pyrite, pyrrhotite, and minor sphalerite. The McNeily zone, in particular, demonstrated continuity along strike, with the potential for minor lateral offsets.
Vulcan Minerals President Patrick Laracy commented on the findings, stating that the McNeily zone's high-grade copper and appreciable gold credits justify further exploration and delineation efforts to potentially expand the Colchester project's resource base. The company is considering additional geophysics to prioritize drilling targets for 2024.
The Colchester project is part of the larger Springdale property, which hosts numerous historic copper and gold deposits and showings. These prospects have not been fully explored with modern geophysical and geological modeling techniques. The project's location is advantageous, being road accessible and near essential mining services.
Vulcan Minerals, headquartered in St. John's Newfoundland, is engaged in the exploration of precious and base metals. It also holds a significant stake in Atlas (NYSE:ATCO) Salt Inc. (TSXV: SALT), which is developing a salt deposit in western Newfoundland.
The information in this article is based on a press release statement from Vulcan Minerals.
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