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Vulcan Minerals Inc V.VUL

Alternate Symbol(s):  VULMF

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.


TSXV:VUL - Post by User

Bullboard Posts
Comment by littlejoepton Feb 06, 2004 11:44am
236 Views
Post# 7013442

RE: Has rig arrived ?

RE: Has rig arrived ?Hi. Consider an oil rig's structure--all the weight is hung on a big travelling block, suspended on multiple lines (cable). The only weight available to run on the bit is part of what's hanging. You simply have very little weight available to drill top hole. Once you get some hole made, you actually hold some of the weight off--say if you're drill string weighs 70,000# and you want to run 20,000# on the bit, you'd show 50,000# on the weight indicator, which you've got clamped onto the dead line. As more hole is made, weight comes off the bit, the weight indicator climbs, you slack off a little line off your drum till it reads 50k again. Anyway, inefficient to start hole. If available, you get a little rig in to drill, set surface, or at least conductor pipe. This little rig can put more weight on the bit than you can--hydraulic pull down, use some of the rigs weight on bit. Plus they are cheaper, and the cement will be set up when you get there. Drill surface yourself, and you'll lose at least a shift, waiting for cement to set up. Big rig won't mind, as they'll perfect their riggin' up--winterizing, etc, on your dime while it hardens. Old cable tools picked up and dropped a bit to drill. Reffered to as "spudding". Nowadays, to start a well is commonly referred to as "spud a well". "Spud date" can be important, for contract reasons, lease dates, permits, etc. Once you've made any hole at all, you've "spudded" the well. So--in my typical windy fashion--I've answered your question--Drilling has already started. The well has been "spudded"
Bullboard Posts