• Vulcan Minerals (TSXV:VUL) has announced it has begun drilling in Newfoundland
  • The company said drilling has started at the Colchester and McNeily zones
  • Geochemical soil sampling at the Springdale project has also been completed
  • Shares of Vulcan Minerals are up 7.50 per cent to C$0.22 as of 11:54 a.m. ET

Vulcan Minerals (TSXV:VUL) has announced it has begun drilling at the Colchester and McNeily zones at its property in Newfoundland.

The company said in a statement that drilling will focus on further delineating mineralization encountered in its 2021 drill program and will include 1,000 metres of diamond core drilling.

Notably, highlights from the 2021 program include up to three mineralized zones in each hole. In CL-21-01, the main mineralized zone was intersected between 88 metres and 116 metres and returned assays of 1.58 per cent copper, 0.33 grams per ton (g/t) gold over 28 metres including several 0.5 metres samples over 1 g/t gold.

“The current drill program and geochemical surveying will add significant new knowledge about the potential of this area to host economic deposits,” Patrick Laracy, president of Vulcan Minerals, said in a statement. “This is the core exploration project for our company as we systemically generate results in 2023.”

With its headquarters out of St. John’s, Newfoundland, Vulcan Minerals is a precious and base metals exploration company with strategic land positions in multiple active Newfoundland gold exploration and development belts.

Shares of Vulcan Minerals are up 7.50 per cent to C$0.22 as of 11:54 a.m. ET.

Join the discussion: Find out what everybody’s saying about this stock on the Vulcan Minerals Bullboard, and check out the rest of Stockhouse’s stock forums and message boards.

The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.

More From The Market Online
The White House.

@ the Bell: TSX recovers; markets assess Biden’s exit

The TSX bumped up in Monday trading after U.S. President Joe Biden’s weekend exit from the 2024 election race.
CrowdStrike headquarters in Silicon Valley, California.

CrowdStrike’s outage shows its scale: Why to buy the dip

CrowdStrike (NASDAQ:CRWD) offers a strong investment case, despite its 23.1 per cent dip after a faulty software update on Friday.