Volcanic Identifies Major New Target Area, 2.5km South of Historic Gjegjan Ore Deposit-Field Work Begins
April 08 2010 - 9:30AM
Marketwired
Volcanic Metals Corp. (TSX VENTURE: VOL) ("Volcanic") has
identified a major new exploration target area, approximately 2.5km
south of the historic Gjegjan ore deposit. This target area,
Perbreg, consists of a coincident geophysical and geochemical
anomaly that has never been previously drill tested.
A strong electromagnetic (EM) anomaly in late time channels was
obtained by the recently completed airborne geophysical survey
approximately 2.5km from the former Gjegjan mine, which is reported
to have produced 4.4 Mt of 3.3% copper. The EM anomaly lies over
limestone cap rock and alluvial gravels covering the prospective
volcano-sedimentary sequence, host to known massive sulphide ore
bodies in the district.
The newly detected EM anomaly is coincident with a copper
geochemical anomaly outlined by soil sampling conducted by the
Albanian Geological Survey (AGS) in the early 1980's. The copper
values in soils are high, reaching 0.08% to 0.2%. The survey was
part of an integrated geological, geochemical and geophysical
prospecting program for new copper mineralisation, similar to the
massive ore deposit of Gjegjan.
According to a detailed analytic study carried out by the AGS,
the copper in gravels at Perbreg are largely in the form of
carbonates, oxides and secondary sulphides. These secondary copper
concentrations typically result from the oxidation of copper
sulphides and transport of in solution by acidic ground waters. The
possible source of the copper in the gravels at Perbreg is a
proximal concealed massive sulphide body.
Volcanic will conduct further ground work in the Perbreg area
including ground EM, induced polarization geophysics and soil
sampling to confirm and better define the historic soil sampling
results and airborne EM anomaly and plan initial drill hole
locations. Field work has commenced.
Other high-priority targets identified in the North Block of the
District include the Bardhoc, East Bardhoc, and Morine anomalies.
Ongoing processing of the Airborne EM data has also identified a
further 7 anomalies in the North Block to be followed up with
ground geophysical work.
John LaGourgue, Volcanic President and Chief Operating Officer,
states, "Perbreg is one of many high priority targets now
identified by Volcanic. This is a historically prolific copper
mining district and Volcanic is conducting the first modern
exploration of the area. We look forward to testing Perbreg and
other key targets through the use of systematic, modern
technology."
Rock Lefrancois, P.Geo., Director of Volcanic and Qualified
Person as defined by National Instrument 43-101, has verified the
technical content of this News Release.
ON BEHALF OF THE BOARD
VOLCANIC METALS 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 (604) 568-6312
(604) 357-1419 (FAX) www.volcanicmetals.com
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