Vulcan Minerals Inc V.VUL

Alternate Symbol(s): VULMF

Metals & Mining Industrial Metals & Minerals

Vulcan Minerals Inc. is a Canada-based precious and base metals exploration company, which is engaged in mineral exploration on properties in Newfoundland and Labrador. Its projects include Colchester, Gander Belt Gold, Red Cross Lake, South Voisey’s Bay, Carbonear and Atlas Salt. The Colchester Copper Gold Project is in north-central Newfoundland. The Gander Belt Gold Project extends approximately 100 kilometers from the north coast of Newfoundland to the south-central part of the island. The Red Cross Lake project is located in central Newfoundland and comprises 102 claims approximately 2,550 hectares. Its South Voisey’s Bay nickel-copper-cobalt project located in Labrador. The Project comprises three licenses containing a total of 30 claims. It also holds an interest in Atlas Salt Inc., which is carrying out a feasibility analysis on its Great Atlantic salt deposit in western Newfoundland, strategically located in the robust road de-icing market of eastern North America.

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Vulcan Minerals Inc

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Post by lhyneson Oct 19, 2004 12:41pm

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Post# 8065961

Vulcan"s Flat Bay #2 Well

As announced today, Vulcan has commenced drilling the first(Flat Bay #2) of a multi-well program in the Bay St. George Basin. Here is some pertinent information on the Basin that may be of interest to potential shareholders.....taken from Vulcan's website at www.vulcanminerals.ca Bay St. George Sub-basin # Bay St. George Sub-basin is a Carboniferous age basin which, based on seismic surveys and bedrock mapping, is a collage of grabens, half grabens and horsts of various ages with sedimentary thickness locally of more than 5 km. # The three key ingredients for multiple oil fields within the northern part of the Bay St. George Sub-basin are in place, including: • Source - black deepwater organically rich lacustrine shales provide excellent hydrocarbon source rocks • Reservoir - excellent marine and non-marine sandstone reservoir rocks are mapped in outcrops and expected to be present at depth with localized reef-like development hypothesized • Seal - broadly distributed thick shale beds and evaporates. The Flat Bay Prospect is a large seismically defined monoclinal structural feature on the flank of the Flat Bay Anticline. Inferred closure at the Ship Cove limestone marker could exceed 20 square kilometres. Anomalous seismic amplitude bursts at the Ship Cove horizon may represent a thickened biothermal or reefal section. As well, a significant section of Anguille clastics underlie the Ship Cove Limestone. The structural relief is interpreted to mimic a pre-Carboniferous topographic high, which itself presents a reservoir target. Regional structure, seismic and gravitymagnetics indicate that the prospect is fault bounded to the NW and SW. Regional dip and seismic control indicates a structural dip to the northeast and southeast, placing the prospect at or near the structural high of the feature. The significant thickness of the oil-bearing formation in Flat Bay #1 is very encouraging for further drilling in the area. Further supporting the concept of a potentially commercial oil field in the area, was the report of a live oil occurrence in the evaporative section just above target depth in a well drilled by another operator on the adjacent permit 03-106 (literally within a stones throw of the Vulcan’s 96-105 permit). This AR 93-1 well was abandoned at 661 metres before reaching target depth due to technical difficulties. Vulcan acquired this adjacent permit in 2002 when the permit reverted to the Crown.