To All:
The announcements today by both Buffalo Diamonds Inc. and Montello Resources of developments in the Calling Lake area
have officially "kicked off" what might best be referred to as the" CALLING LAKE DIAMOND PLAY".We have been
waiting in great anticipation for some time now the official disclosure of preliminary exploration results by Buffalo Diamonds Ltd.
on their Calling Lake property. Montello, having an appreciation of the prospectivity of this area for diamonds, quickly jumped
into the play ..."buying into" the Jackfish and Tyrell properties.
What other companies can we expect to capture the interest and attention of investors in the Calling Lake area in the months to
come. High on my list is New Claymore(NCS-V) and Vulcan Minerals Ltd (VUL-A). For those of you who may not be
aware,Vulcan owns a 100% interest in approx. 2.1million acres in Alberta The company's latest press release focuses on
activity on the Lac la Biche block(1.5 million acres), in the vicinity of Calling Lake. The press release reads as follows:.
Vulcan Minerals commences Airborne Magnetic Survey for Diamonds in Alberta
Stock Symbol: VUL:ASE
Shares issued: 9,519,500
ST. JOHN'S, NF, Dec. 1 /CNW/ - Vulcan Minerals Inc.(the company, ASE:VUL)
has entered into an agreement with Spectra Aviation Services to conduct a High
Resolution Aeromagnetic Survey for kimberlite detection in Alberta. The survey
will cover eight townships (approximately 170,000 acres) near Lac la Biche.
The area lies within a major northeast-southwest trending geologic structure,
the Snowbird Tectonic Zone. This structure may have provided conduits for the
emplacement of kimberlites. Several one line circular to elliptical magnetic
anomalies occur on the Geological Survey of Canada regional magnetic survey of
the area. That survey consists of flight lines spaced approximately 2
kilometres apart. The high resolution survey to be flown will fly at 200 metre
spaced flight lines in order to delineate the nature of the magnetic anomalies
and locate any new additional anomalies. Based on Alberta Geological Survey
data the area is mostly covered by 0 - 50 metres of drift thickness. As well,
the area is underlain by favourably aged Upper Cretaceous rocks. In the
vicinity of the Snow Bird Tectonic Zone other operators have recently reported
the discovery of favourable diamond indicator minerals in till samples near
Edmonton (Pure Gold Minerals Inc.) as well as at least one diamond and other
indicator minerals in till samples at Calling Lake (Buffalo Diamonds Ltd.),
approximately 60 kilometres west of the Lac la Biche block. The survey will
commence this week. Vulcan owns a 100% interest in metallic and industrial
mineral permits covering approximately 2.1 million acres of Alberta.
I recently made contact with the company and was told that the aeromagnetic survey has now been completed and the
company is awaiting the release of results. We can anticipate a release of these results in the next several weeks.
At the present time, Vulcan is trading in the .15 to .18 cent range.Positive results from the company's areomag survey, and
further positive developments in the Calling Lake area should bring a significant level of buying interest to the stock, and quickly
move it to the .30-.40 cent level.
Also, refer to my recent posting on the Vulcan thread re the company's West Coast Oil prospects...Pan-Canadian will be
spudding their $10 million dollar well on Jan.25/99. Vulcan is the only junior company with property in the immediate
area....with a 50 ft. interval of petroliferous conglomerate in its first test hole.
This company is finding itself in the heat of what will prove to be two major plays. Visit the company's website at:
info-mine.com.
I am not an official of this company....just a shareholder.
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