NEWS RELEASENews Release
March 7, 2002
Stock Symbol: CDNX:VUL
Shares issued: 13,684,753
VULCAN MINERALS ACQUIRES NEWFOUNDLAND GOLD PROPERTY
St. John's - Newfoundland - Vulcan Minerals Inc. ("the Company" CDNX: VUL)
is pleased to announce it has acquired by staking the Little River Gold
property in Central Newfoundland. The property covers a 20 km belt of
Ordovician aged volcano sedimentary rocks hosting significant gold zones.
The property is located near the crustal boundary of the Gander and Avalon
zones of the Newfoundland Appalachian orogen. Mineralization is contained in
the Isle Galet Formation consisting of tuffaceous volcanics and sediments.
The formation has been subjected to extensive alteration consisting of
carbonates, chlorite, sericite, limonite, antimony oxides and
silicification. Drilling by a previous operator in the Wolf Pond zone
encountered mineralization up to 8.2 metres in width grading 2.38
grams/tonne gold. Grab samples from the Bower's Tickle and Long Jacks Bight
showings have reported up to 12.3 grams/tonne gold and 13.7 grams/tonne gold
respectively. Mineralization occurs as both disseminated sulphides of
pyrrhotite-pyrite-arsenopyrite-chalcopyrite in carbonate alteration as well
as in quartz-antimony veins. The property hosts potential for both
stratabound volcanogenic gold and epithermal gold. Several gold in soil
anomalies and showings remain unexplored. Vulcan is in the process of
compiling all existing information on the property towards planning a summer
field program and attracting a partner to finance exploration of the
property.
The company will be exhibiting at the Prospectors and Developers Convention
in Toronto, March 10th to 13th; Investors Exchange Booth 2709. Convention
delegates are invited to drop by our booth.
For information please contact Mr. Patrick Laracy, President of Vulcan
Minerals Inc. at
Phone: (709) 754-3186, Fax: (709) 754-3946 or Email: info@vulcanminerals.ca
The Canadian Venture Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
333 Duckworth St., St. John's, NF, Canada, A1C 1G9
Phone: (709) 754-3186, Fax: (709) 754-3946, Email:
info@vulcanminerals.ca,Website:www.vulcanminerals.ca