Vulcan Minerals Inc. is pleased to announce that it has applied for ten (10) metallic and industrial mineral permits in the western Athabasca area of Alberta approximately 50 Km east of Fort McMurray.
The proposed permits encompass approximately 225,000 acres known as the Athabasca Border property. The primary target of the permits is western Athabasca Basin style uranium deposits similar to the recent discoveries of Fission Uranium Corp. and Alpha Minerals Inc. at Paterson Lake South approximately 50 miles northeast. The Paterson Lake South discovery is one of the most significant new mineral discoveries in the world and has attracted significant market interest and a staking rush in the western margins of the Athabasca Basin. The proposed permits lie along a major basement magnetic lineament connecting to the Paterson Lake area. Based on regional and local geology the prospective Precambrian basement rocks are overlain by a veneer of Phanerozoic cover sediments. These cover rocks have provided a degree of protection from erosion to any underlying deposits and a potential trapping mechanism for any rejuvenated mineralized fluids. The Company continues to compile all available technical information in the area to formulate a detailed exploration program in anticipation of the issuance of the permits.
The Alberta Department of Energy has indicated that the applications should be processed by October. There is no guarantee the permits will be issued though numerous such permits are issued in this area of Alberta, held by various parties including Fission Uranium Corp.
Source: http://www.vulcanminerals.ca/