There are 5 main anomalies identified from the geophysical survey

Tag : minerals
The drill program consisted of 1960 metres of diamond coring over18 holes. The program was designed to test a variety of surfaceshowings and VTEM geophysical anomalies. Generally, the holes testing geological targets along the C-zone(holes 56-66, except 63) proved to contain the best mineralizationwith disseminated to semi-massive sulphide textures, as follows:
Drill holes 63, 67-72 tested a series of VTEM Anomalies in the B, Fand A zones and did not encounter any significant nickel-coppermineralization. However, three of the holes did encounter a massivepyrrhotite zone up to 3 meters in thickness with gold enrichment of1 gram/tonne over 2 metres in hole 68. As well, some zones ofanomalous platinum (Pt) and palladium (Pd) were encountered. Hole63 encountered the thickest gabbroic body over 69.4 metres thoughno significant mineralization was encountered.
The Tasisuak Lake property is situated approximately 50 kilometresnorthwest of the world class Voisey Bay nickel-copper-cobalt mine.The property covers significant outcrops of Tasiuyak gneisseshosting mafic intrusions which contain the nickel-coppermineralization. The genesis and style of mineralization remainsunexplained in the context of the regional setting and timing ofemplacement. The Company plans to carry out geochemical andpetrographic analysis of the mineralization and host rocks toanswer these questions and assist in further exploration of theproperty. The property contains many untested geophysical anomaliesand surface showings. The C-zone mineralization remains open in anorth-south direction in excess of 5 kilometers based on itsgeophysical signature. The Company is encouraged by these drillresults and notes that they are some of the highest grade overwidth nickel-copper intersections drilled in Labrador outside ofVoisey's Bay.
Kingurutik Property
As part of the recently signed agreement between Nortec and Vulcan,Nortec commissioned Geotech Ltd. ("Geotech") to carry out a 417line-km helicopter-borne geophysical survey for Nortec over theKingurutik River Property, 70km north of the Tasisuak Lakeproperty. The airborne geophysics consisted of a versatile timedomain electromagnetic ("VTEM") survey and total magnetic intensity("TMI") using a cesium magnetometer.
There are 5 main anomalies identified from the geophysical survey.Three of these anomalies are located in the north central part ofthe claim and have E-W trending conductors with coincident magnetichighs possibly related to metallic mineralization in the form ofmixed magnetite and pyrrhotite dominated sulphides.
As part of a first pass exploration drill program, 3 holes weredrilled for a total of 321metres. The holes targeted the potentialnear-surface mineralization and coincident geophysical anomaly onProspect A. Though sulphide mineralization was encountered it didnot contain any significant nickel and copper. Geological andgeophysical interpretation of the property is ongoing towardsdelineation of further drill targets.
Drillhole Collar co-ordinates on the Kingurutik River Property
All core samples were cut in half by diamond saw, packaged andsealed in the field before being shipped to Accurassay Laboratoriesreceiving facility in Gambo South, NL where they were prepared andforwarded to the main lab in Thunder Bay, ON. Samples were testedfor 30 elements (including base metals) with an ICP (InductivelyCoupled Plasma) process. Samples exceeding detection limits wereprocessed for ore grade analysis with an AA (Atomic Absorption)process. All samples were also analyzed for Au, Pt and Pd with afire assay process. QA/QC was maintained by the laboratory byrunning duplicates and repeats, and also with blind duplicatesinserted into the sample stream directly from the field.
Further information on the TL and Kingurutik River Properties isavailable on Vulcan's website www.vulcanminerals.ca and also onNortec's website at www.nortecventures.com. Mr. Mohan Vulimiri,P.Geo., President & CEO and Director of Nortec, is theQualified Person responsible for the supervision of the fieldprograms and the results provided in this news release.
Vulcan is a diversified junior exploration company focussed onpetroleum exploration in the under-explored Western Newfoundlandand Labrador area and also holds mineral interests in areasstrategic to its operations in Newfoundland and Labrador.
The statements made in this News Release may contain certainforward-looking statements. Actual events or results may differfrom the Company's expectations. Certain risk factors may alsoaffect the actual results achieved by the Company.
There can be no assurance that forward-looking information willprove to be accurate. Should one or more of these risks anduncertainties materialize, or should underlying assumptions proveincorrect, actual results may vary materially from any conclusions,forecasts or projections described in the forward-lookinginformation. Accordingly, readers are advised not to place unduereliance on forward-looking information. Except as required underapplicable securities legislation, the Company undertakes noobligation to publicly update or revise forward-lookinginformation, whether as a result of new information, future eventsor otherwise.
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