Volcanic Conducts First Ever Airborne Geophysical Survey Over the Gjegjan District and Identifies Multiple New Exploration Targe
March 23 2010 - 9:30AM
Marketwired
Volcanic Metals Corp. (TSX VENTURE: VOL) -
- Volcanic conducting first ever large scale, systematic modern
exploration of the highly prolific, historic copper-producing
region
- Following the positive results of airborne geophysical work,
field work is being initiated
- Contract signed with GeoMinEx, premier Canadian project
managers with significant Albanian exploration experience
Volcanic Metals Corporation ("Volcanic") is pleased to announce
that the first airborne geophysical survey of the historically
prolific Gjegjan District has identified multiple exploration
targets, never before drilled.
Initial data processing from the recently flown airborne
geophysical survey has identified several geophysical anomalies
that are previously undrilled. Of particular interest is a new
target called Perbreg. The Perbreg geophysical anomaly is located
on strike and approximately 2km south of the Gjegjan mine, which
operated between 1961 and 1993, and estimated production 4,420,000
tons of 3.3% Cu (source: Albanian Geological Survey). The newly
identified Perbreg anomaly is under a very thin limestone cover
that hid the volcanic sequence from past state run exploration
programs. The Perbreg anomaly is coincident with a significant
geochemical anomaly that was identified in 1985 but was never
drilled and never explained.
Several other anomalies within a 10km radius of the former mine
have been identified as high priority exploration targets. Based on
the airborne geophysical data, technical crews are now mobilizing
onsite to follow up in these target areas with ground work
including Max/Min electromagnetic ground geophysics, induced
polarization ground geophysics, detailed soil sampling and
geological mapping. This initial fieldwork is being done to develop
multiple initial drill targets in the northern block of the
property, in close proximity to the historic mine.
Data interpretation from the airborne survey flown on the
southern portion of the district is expected within two weeks. The
airborne survey was approximately 1200 line kilometers in two
survey grids. Line spacing was 125m on the north grid and 200m on
the south grid. Geotech Airborne Ltd. completed the survey, which
was a combined high-resolution helicopter borne magnetic and
electromagnetic survey, utilizing their Versatile Time Domain
Electro Magnetic System ("VTEM").
John LaGourgue, Volcanic's President and Chief Operating Officer
states, "These positive results are indicative of what can be
accomplished as Volcanic conducts the first ever large scale and
modern exploration of the Gjegjan District. While the district is
home to significant past production, Volcanic is using modern
exploration tools and techniques in the district to fully explore
the potential of this 200 square kilometer property."
Volcanic is also pleased to report that it has retained GeoMinEx
Consulting Inc. (www.geominex.com) of Vancouver, British Columbia
to manage the company's exploration program. GeoMinEx is a premier
project exploration management firm and has operated intense,
large-scale exploration programs on four continents during the past
15 years. GeoMinEx has significant experience in Albania and has
made Albania a focus of their operations for the past 3 years.
ON BEHALF OF THE BOARD
VOLCANIC CAPITAL CORP.
John LaGourgue, President, Chief Operating Officer and
Director
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Volcanic Metals Corp. John LaGourgue President, Chief
Operating Officer and Director (604) 568-6312 (604) 357-1419 (FAX)
www.volcanicmetals.com
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