Hi Valiant;The "diamond hunt" is slowly but surely progressing in a number of areas in Alberta with companies like Ashton,Montello,New
Claymore,Troymin,Everett,Vulcan Minerals,Buffalo Diamonds etc. actively engaged in airborne,ground magnetics and drilling
programs.The Calling Lake area seems to be attracting a good deal of attention as several companies are moving forward
methodically in advancing their exploration programs to the drilling stage.
The latest from Vulcan Minerals(Feb 9/99)indicates a minimum of 14 high priority targets out of a total of 24 possible targets for
kimberlites.Here is the complete press release for investors who are carefully following exploration developments in the general
area of Calling Lake:
Vulcan Minerals Inc. - Multiple Magnetic Targets for Kimberlites in Alberta
Stock Symbol: VUL:ASE
Shares issued: 9,519,500
ST. JOHN'S, NF, Feb. 9 /CNW/ - Vulcan Minerals Inc. (the company,
ASE:VUL) is pleased to report on the results of its recent high-resolution
magnetic survey in Alberta (news release December 1, 1998). The survey was
designed to test for magnetic anomalies characteristic of kimberlites along a
portion of the Snow Bird Tectonic zone, a major northeast-southwest trending
geologic structure near Lac la Biche. Spectra Aviation Services carried out
the acquisition program and Geophysical Exploration and Development
Corporation (GEDCO) of Calgary processed and interpreted the data for the
identification of possible targets for kimberlites. GEDCO reports the
identification of twenty-four (24) targets that have magnetic characteristics
that could be caused by kimberlite diatremes. Three (3) targets are
categorized as rank I targets, being the best quality prospects. Eleven (11)
targets are categorized as rank II and ten (10) targets are categorized as
rank III. As well, four (4) additional targets were selected on the basis of
their reverse magnetic signatures and given the lowest rank IV rating. GEDCO
also notes that there are other interesting targets within the data that may
be considered for examination if the ranked targets prove to be kimberlites.
Only drill testing will confirm or deny the existence of kimberlites. Based on
the survey results and the geologic setting of the Lac la Biche area Vulcan is
formulating an exploration strategy to follow-up the targets identified.
Vulcan owns 100% interest in metallic and industrial mineral permits covering
approximately 2.1 million acres in Alberta as part of its search for
diamondiferous kimberlites.
The Alberta Stock Exchange neither approves nor disapproves of the
information contained herein.
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For further information: Mr. Patrick Laracy, President of Vulcan
Minerals Inc. at (709) 754-3186, fax (709) 754-3946 or Email:
laracy@thezone.net, Website: info-mine.com
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