Vulcan Minerals Inc. announces that it has acquired a strategic land position in the South Voisey’s Bay nickel-copper-cobalt project in Labrador.
The Company’s claims are directly adjacent to the Sandy and Sandy North targets that Fjordland Exploration Inc. and Commander Resources Ltd. (Fjordland/Commander) are currently preparing to drill as described in their news release of September 6, 2017. The Company’s South Voisey’s Bay Project comprises three licences containing a total of thirty claims as outlined on location map. The first licence contains twenty claims and is underlain by portions of the Worm Gabbro, which at surface is a north dipping elongated mafic intrusion that may be a conduit that connects the northern and southern portions of the Pants Lake Intrusion. The southwestern boundary of this licence is within 200 m of the surface expression of the Sandy Target, which is an electromagnetic anomaly identified by previous Fjordland/Commander geophysical surveys. The target lies on the Fjordland/Commander licences. Vulcan’s licence was acquired to cover the possible downdip extension of the Sandy Targets. The Company’s second licence contains two claims that are underlain by the Sarah Hill-South Intrusion, which hosts the highest grade over width averages for nickel from previous drilling in the South Voisey’s Bay project. Drill holes encountering low-grade nickel–copper occur within 500 m of this licence, but no holes are reported within the licence. The third licence contains eight claims underlain by the Mineral Hill intrusion.
The South Voisey’s Bay project area contains the Pant’s Lake mafic intrusive complex which was first explored for nickel following the 1993 discovery of the Voisey’s Bay nickel-copper-cobalt mine, approximately 80 kilometers north. Several rounds of drilling and geophysics have established the intrusion’s potential for significant accumulations of massive magmatic sulphides as described in the NI 43-101 Technical Report on the South Voisey’s Bay Project Labrador for Fjordland/Commander by L. John Peters, P.Geo., Bernard Kahlert, P.Eng. and Darryn Hitchcock, P. Geo. (2015) as filed on Sedar at www.sedar.com.
A powerful tool in nickel exploration requires understanding the distribution of nickel in the target intrusions, because when anomalously low nickel concentrations are encountered it is commonly explained by a process which extracts the “missing” nickel and concentrates it into nickel sulfide bodies that can potentially be discovered using geochemical and geophysical detection methods. Geochemical evidence at Pants Lake has demonstrated significant nickel depletion in the target gabbroic rocks, suggesting the nickel may have been remobilized into yet to be discovered massive sulfide deposits.
The Company’s South Voisey claims were staked prior to the recent announcement on September 06 2017 that Fjordland had entered into a strategic investment agreement with High Power Exploration Inc. (HPX) to explore the South Voisey’s Bay project. This includes an imminent drilling program focussed on testing the Sandy targets. HPX is a private company whose CEO, co-Chair and significant shareholder is Robert Friedland formally of Diamond Fields Resources Inc. which underwrote the discovery of Voisey’s Bay in 1993. In light of this development Fjordland/Commander enlarged its land position by 872 claims totally enclosing Vulcan’s mineral claims.
Commenting on these recent developments Patrick Laracy, President of the Company said “I am glad to see Mr. Friedland return to Labrador where he enjoyed so much success with the Voisey’s Bay discovery. We look forward to the upcoming Fjordland/Commander drill program which will dictate our next moves with our strategically located land position. The renewed interest in the Voisey’s South Project and recent gold discoveries in central Newfoundland indicate that the province remains an attractive mineral exploration destination as the metals commodity cycle regains strength after several quiet years.”