Vulcan Minerals - C.VUL Message Board

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Gold/Mining/Energy : Vulcan Minerals - C.VUL

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To: Jeff Spurrell who wrote ()	1/6/1997 11:15:00 PM
From: Eashoa' M'sheekha	of 415

Jeff:Is Spock The President Of Vulcan Minerals? Here's a little write up from a Mr. Len Hynes from m.i.c nwsgrp.Iv'e seen a few of his posts over time and find his writing optimistically objective.Good info. Regards.... Bruce VUL-C will be a stock to have in 1997 according to John Kaiser. REASONS WHY: 1. Vulcan has two oil and gas properties near Hunt Oil on the West Coast of Newfoundland. Vulcan recently drilled a 505 ft. test hole and penetrated petroleum conglomerate from 452 to505 ft. Oil bled in the core in varying degrees over the full length of the conglomerate. Vulcan believes that the oil which bled from this conglomerate migrated from a deeper Ordovician formation. Indications are that Vulcan will be re-entering this hole to drill to much greater depth. It looks like the West Coast oil play will be heating up again this spring-Mobil is currently drilling 10 shallow test holes in the area ( Evening Telegram-Dec/96). Also, Hunt has just completed an offshore and onshore seismic program in the area. Watch for further interesting developments. 2.Vulcan appears to be on the verge of a massive titanium discovery south of Goose Bay. This property is 85 sq.km. and contains two large anomolies(9 by 2.4 km.) and (7km. by 2 km.). Whole rock geochemical analysis have returned grades of iron and titanium oxides up to 50% in the combined oxides. 3. Vulcan has conducted extensive geophysical work on its Carbonear Project. This is a highly prospective zinc-lead-silver property originally owned by Cominco and picked up by Vulcan immediately after Cominco pulled out of Eastern Canada.An opening drill program of 1000 metres is expected in early 1997. Vulcan feels that the exploration model for this property is similar to the Sullivan Mine in B.C.( 160 M tonnes of 6% lead, 6% zinc and 2 opt silver. 4. The company has just announced the closing of its recent financing and now has working capital of approx. $ 800,000. Shares outstanding approx. 9.1million fully diluted. At its current price of .55 cents the stock is a no-brainer.During the year we will see news on four to five different projects from oil to base metals to gold ( Vulcan recently announced the acquisition of two gold properties in Southwestern Nfld and in the Baie Verte Gold Belt within 1500 metres of the Rambler Mine.)

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