Volcanic Metals Corp.
TSX VENTURE : VOL

Volcanic Metals Corp.

April 21, 2010 09:30 ET

Volcanic Data Compilation Reveals Significant Copper Mineralization Reported Historically

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 21, 2010) - Volcanic Metals Corp. ("Volcanic") (TSX VENTURE:VOL) -

Announcement Highlights:

  • historical data recently received by Volcanic includes reports of significant Copper mineralization in Southern Block of District
  • interpretation of Volcanic airborne geophysical data from the Southern Block underway
  • multiple new targets now identified, early into examination of data from Southern Block

Volcanic Metals Corp. is pleased to report that an evaluation of the southern portion of the company's wholly owned 200 sq km Gjegjan exploration permit has commenced. Early into this examination, several targets of interest are developing including high priority targets in the south-central part of the land holdings, namely the Arrmolle-Pregjelura area, where several sulphide showings were discovered in the 1970's.

Volcanic recently completed a high-resolution magnetic-electromagnetic airborne geophysical survey that covered the northern and southern blocks of the exploration permit. While data from the northern block has been assessed and compiled, resulting in the identification of multiple high priority exploration targets, data from the southern block is being compiled now and is not yet complete. A full compilation of geophysical targets in the south is expected in a few weeks.

While the northern block was home to a significant past producer, the Gjegjan mine, the southern block remains relatively under explored with little or no drilling in most key areas. Topography is more challenging in the southern block and this posed difficulty for past state-run exploration programs which did not have the benefit of modern exploration equipment. Also, it is important to note that the geological enterprise that historically had jurisdictional control of key areas in the southern block had a chromite focus so very limited work was focused on copper and other metals despite the highly prospective setting for these metals.

Volcanic has obtained information as a result of data compilation work that has been initiated. This information has brought attention to multiple under-explored areas in the south along the continuation of the prospective stratigraphy that hosts the Gjegjan deposit. These areas are best described in a historical report prepared in the mid-90's by Southampton Associates Inc. The report, and other historical information, is not compliant with NI 43-101 reporting standards but the company believes serves as a useful guide for modern exploration efforts. In part, the report reads;

"Mineralization has also been discovered in outcrop at Surroj, which lies nine kilometers south-southwest of Gjegjani. Here the geology is severely complicated by thrusting, and the mineralization consists of three occurrences of angular blocks or clasts of Gjegjani-type sulphides lying at the same stratigraphic horizon as Gjegjani, spread over approximately 500 meters. These were discovered in the early 1970s, and one deep hole was drilled, mainly for stratigraphic purposes, in the southern part of the area in 1976. Drilling has not been able to confirm the surface geology as originally interpreted, but it did find scattered sulphide mineralization in the section.

Starting some 15 kilometers south-southwest of Surroj, a belt some 20 kilometers long stretching from Arren through Arrmolle and Pregjelura to Mbasdeje has yielded showings of similar Gjegjani-type sulphides in appropriate stratigraphy directly underlying the thrust plane. This mineralization has been encountered in outcrop, trenches and drill holes, and in limited underground work, and is usually present as clasts within the stratigraphy. In Armolle, however, the sulphides (discovered in 1970) extend for at least 100 meters along strike, may reach four meters in thickness and up to 15 per cent Cu in grade locally. Over the total four meter thickness, GJEOALBA reports that grades vary from two to seven per cent Cu, averaging approximately three per cent Cu. Underground work has confirmed the mineralization ten meters below the outcrop, but the area is within the jurisdiction of the Bulqiza Geological Enterprise whose main focus is chromite, so only limited follow-up work has been carried out.

At Pregjlura, some 40 kilometers south-southwest of Gjegjani, clasts of sulphides are found in outcrop over a 600 x 250 meter area, grading up to four per cent Cu. The sulphides are less tectonically deformed than at Arrmolle and are locally continuous over distances of 20-60 meters. Drill follow-up in two holes has demonstrated continuity of the sulphides over 100 meters, in a two meter thick zone along the thrust plane.

GJEOALBA believes that the clasts of sulphides discovered in these areas are the result of tectonic dismembering of a discrete sulphide body. At Mbasdeje, for example, a 2,000 tonne block of sulphides grading five per cent Cu was discovered over 30 years ago, and it was mined and shipped to the Rubiku processing plant. The area as a whole has seen limited follow-up work, partly due to political difficulties in Albania."

Volcanic technical team members will be combining results from the airborne geophysical data interpretation with the historical data compilation that is ongoing in the southern block. The team is developing a significant inventory of high priority geological, geophysical and geochemical exploration targets in both the north and the south of this large and historically prolific Copper Mining District. In addition to copper, Volcanic will be conducting the first ever exploration for other metals of focus including gold and silver.

Renmark Financial Communications Inc.

Volcanic is also pleased to announce that it has retained the services of Renmark Financial Communications Inc. to handle its investor relations activities.

"We are pleased to announce that we have selected Renmark to reinforce Volcanic's profile in the financial community and enhance the visibility of our project portfolio. We chose Renmark because its standards and methodologies fit best with the message we wish to communicate to the investing public," noted John LaGourgue, President and Chief Operating Officer of Volcanic.

About Volcanic Metals Corp.

Volcanic Metals Corp. is a mineral exploration company headquartered in British Columbia, Canada. The company's focus is on the discovery of base and precious metal deposits of economic value in Albania. The Company is currently conducting the first ever geological evaluation by modern exploration methods of the Gjegjan Mining District located in northeastern Albania. The Company is listed on the Toronto Venture Exchange under the symbol VOL.
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

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