Hi Killick;
I assume that you are following the Alberta Diamond play , in particular the shifting focus towards the Calling Lake area where it
is purported that Buffalo Diamonds and New Blue Ribbon have discovered a macrodiamond along with other indicator
minerals.
As you maybe aware, Vulcan,s Lac la Biche block(1.5 million acres) is in the general area of Calling Lake, and we should see
a good deal of attention given to companies with prospective property in that area very soon.It is expected that Buffalo
Diamonds and New Blue Ribbon will soon begin their exploration programs in earnest. Companies like Vulcan will we watched
very carefully...especially once the company releases the results of it's Aeromagnetic Survey (see press release Dec
1/98)...http://www.info-mine.com/vulcan. As you probably know, the Lac la Biche area lies within a major northeast-southwest
trending geologic structure, the Snowbird Tectonic Zone.This zone is interpreted to form the southern boundary of the Buffalo
Head terrane and other Proteozoic aged terranes in Northern Alberta. It is in the vicinity of this zone that Buffalo Diamonds, and
Pure Gold Minerals have discovered favorable diamond indicator minerals, and the presence of at least one diamond.
Keep your eyes open as well for Vulcan's participation in Newfoundland's West Coast Oil Play...soon to begin.
Word around here has it that Pan Canadian has completed the access road and that the drill rig is now in transit to the area to
begin drilling ~last week of January.Any company that is willing to spend big bucks ($10 million) to drill a well in this kind of oil
market must be very confident of it's psospects for success. As you may be aware from Vulcan's press release(Nov 4/98)),
Vulcan will be drilling a well during the spring of 1999 to test the petroleum potential of the Carboniferous-aged St. Georges
Basin.In Nov/96, Vulcan drilled a test hole to 500 ft, and penetrated a petroliferous conglomerate from 450-500 ft which bled a
light brown, non-biograded oil over the 50 ft. interval.
Additionally, in January1998 ,Vulcan was the successful bidder on three offshore petroleum licenses in the Gulf of St. Lawrence
adjacent to the West Coast of Newfoundland. Should Pan-Canadian or Norcen Energy be successful in their upcoming oil
exploration programs, Vulcan's offshore properties will be highly sought after by the larger companies in the area.
Without getting into the company's other highly prospective base metal, precious metal properties, it appears certain that Vulcan
will be in the Spotlight in 1999 from the Alberta Diamond as well as the West Coast Oil Plays.
Keep your fingers crossed and ......let the good times roll!!!!!!!!! |
