Volcanic Metals Corp.

Volcanic Metals Corp.

March 23, 2010 09:30 ET

Volcanic Conducts First Ever Airborne Geophysical Survey Over the Gjegjan District and Identifies Multiple New Exploration Targets

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 23, 2010) - 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.



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.

Contact Information

  • Volcanic Metals Corp.
    John LaGourgue
    President, Chief Operating Officer and Director
    (604) 568-6312
    (604) 357-1419 (FAX)