Vulcan Minerals Inc. announced impressive soil geochemical results from the Red Cross Lake Nickel-Copper-Cobalt Project in central Newfoundland. Highlights are as follows: Highlights: From the Government of NL database of 22,400 entries for till samples, the highest recorded nickel value is 2061 ppm. Vulcan's current survey contains three soil samples exceeding this value, namely 3,936 ppm, 2,914 ppm and 2,555 ppm nickel.

17 soil samples exceeding 1000 parts per million (ppm, 0.10%) nickel. Including best sample of 3,936 ppm nickel, 674 ppm copper and 230 ppm cobalt. In late 2023, 765 soil geochemical samples were taken over the Red Cross Lake intrusive suite (RCLIS) and surrounding volcanic and volcaniclastic sedimentary rocks.

The RCLIS is a layered, mafic-ultramafic intrusion comprising peridotite, troctolite, olivine gabbro and a variety of further fractionated gabbroic phases. Detailed mapping and mineral-scale geochemistry demonstrates that nickel depletion in olivine within troctolite units has occurred and is locally significant, suggesting that nickel has been preferentially partitioned into an immiscible sulphide melt and segregated in the intrusion providing an excellent exploration target. The soil geochemical survey delivered highly anomalous nickel-copper-cobalt values with 41 samples above 500 ppm nickel including 17 samples greater than 1,000 ppm nickel (0.1% Ni) with the highest sample yielding 3,936 ppm (0.39% Ni).

Nickel (Ni) values show a strong correlation with copper (Cu) and cobalt (Co). Twenty-four samples assayed greater than 200 ppm Cu (maximum of 1,142 ppm) and 22 samples assayed greater than 100 ppm Co (maximum 230 ppm). The highest Ni-Cu-Co values are coincident with and adjacent to a prominent magnetic high and electromagnetic conductor defined from an airborne VTEM survey which is interpreted, based on surface geology, to be related to the lower portion of the Red Cross Lake intrusion.

Further, five samples assayed greater than 200 ppm gold within anomalous clusters on the margins of the geophysical anomalies suggesting association with the Victoria Lake sedimentary country rock into which the Red Cross Lake Intrusion penetrated. The Red Cross Lake property is immediately adjacent to the Marathon Gold, now Calibre Mining Corp., claims where a multi million-ounce gold deposit is currently is being developed. Their mining lease is approximately 3.5 kilometres to the west of Vulcan's claim boundary.