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Gold/Mining/Energy : Vulcan Minerals - C.VUL
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To: Jeff Spurrell who wrote (9)1/6/1997 10:01:00 AM
From: Cyber Rock   of 415
 
Jeff, thanks for message.

I called Mr. Patrick Laracy to asked for an update. He noted the following:

1. There were two joint venture (jv) companies interested in developing the Carbonear site and that a decision would be forthcoming whether this site was to be drilled by a JV arrangement or by Vulcan singularly. Either way, he indicated drilling would be occurring soon.

2. They would be 'flying airborn' to ascertain the the extent of titanium deposits within the Labrador property lisenced to Vulcan now that the public placement is completed as you not in your previous message. It seemed to me from Pat's comments that the time line for this would likely within the next 1-3 months.

3. Extension of the single oil well hole recently drilled on the west cost of the Province is to begin soon, possibly as early as January 31, 1997. If not then, this drilling will occur shorly after that.
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