RE: Small Movertyoung...couldn't agree with you more....we ain't see nothin' yet.
Vulcan will capture the attention of a wide circle of investors in the coming weeks as the company prepares and fine tunes their extensive oil exploration program on the West Coast.The invaluable information gleaned from past drilling in the Bay St. George Basin, along with the results of recent seismic information will undoubtedly enable Vulcan's management to zero in on highly prospective drill targets for the upcoming program.The latest well has proven the existence of a huge petroleum system that now requires targeting the "sweet spots".Here is an excerpt from Vulcan's last press release:
Hydrocarbon shows in the recently drilled Flat Bay #2 well confirm the existence of a large-scale active petroleum system in the basin. Up to now, the focus has been on only one reservoir target, the Fischells Brook conglomerate-sandstone. The 2005 drilling program will test other potential reservoirs within the Storm and Hurricane Prospects. Preliminary interpretation of the new seismic data on the Hurricane Prospect indicates numerous targets of varying depth with multiple trapping scenarios on this very large structure.
In addition to the upcoming oil exploration program, Vulcan's JV partner Nortec Ventures will be conducting an extensive drill program on the company's TL property near Voisey's Bay.Here is an excerpt from NVT's recent press release:
The TL Property is situated approximately 50 kilometres northwest of the Voisey’s Bay nickel-copper-cobalt discovery. The Voisey’s Bay mine is presently under development. The TL Property has one of the best series of drill intersections for nickel in Labrador outside of the Voisey’s Bay discovery. For example, drilling by a previous operator intersected 23.7 metres of 0.47% nickel (Ni), 0.16% Copper (Cu) including 5.2 metres of 1.15% Ni, 0.42% Cu, 0.11 gram/tonne Palladium and 0.25 gram/tonne Platinum. This zone of mineralization outcrops at surface and has been traced by drilling and geophysics over a 1.2 kilometre strike length. Several coincident magnetic and electro-magnetic geophysical anomalies have been located on the property and require drill testing, including a UTEM anomaly covering a strike length in excess of 1.8 kilometres.
A very busy and productive summer of drilling ahead.
Len