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Message: Flat Bay Core Drilling Commences
| February 17, 2009 |
| Vulcan Minerals Inc.: Flat Bay Core Drilling Commences |
| ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - Feb. 17, 2009) - Vulcan Minerals Inc. ("the Company") (TSX VENTURE:VUL) announces that it has commenced a core drilling program at its Flat Bay property onshore western Newfoundland. The program will consist of two shallow holes drilled by a continuous coring mining rig. Each hole is anticipated to be approximately 150 metres total vertical depth. The purpose of the program is to explore the evaporite section and acquire core through the Fischell's Brook Formation for detailed reservoir analysis. The holes are located within a 200 metre perimeter from Flat Bay #1 which penetrated an oil bearing sequence of low permeability conglomerates commencing at about a 120 metre depth. The program should be completed within 20 days and is funded under the Investcan Energy Bay St. George joint venture. The Company is in the midst of procuring goods and services for its upcoming deep drill program at the Robinson's #1 location, onshore Bay St. George western Newfoundland. The current schedule is to commence drilling by late May - early June. A winter program was considered but not preferred in light of decreasing costs and greater availability of goods and services for a spring - summer program. The company has not yet secured a drilling rig but is in discussions with several suppliers. Also, the Company has been advised by Nortec Ventures Corp (Nortec) that they are surrendering their option on the Kingurutik nickel/copper prospect in Labrador in light of the current mineral exploration environment. The property is in good standing until November 2012 based on the drilling work carried out by Nortec during the summer of 2008. The Company and Nortec, however, plan to continue their evaluation of the Tasisuak Lake nickel/copper property in Labrador where significant zones of mineralization were encountered in the 2008 drilling campaign as previously reported on October 07, 2008. |
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