CURRENT ACTIVITIES

Initial ground induced polarization (IP) geophysical surveying over an area located two kilometers to the northeast of the Gjegjan Mine identified several  chargeability anomalies interpreted to trace sulfide bearing horizons. The geophysical anomalies represent targets of immediate interest and additional ground geophysical surveying and drill testing is planned.

Geotech Airborne Ltd. (“Geotech”) has been contracted to conduct a combined high-resolution helicopter-borne magnetic and electromagnetic (EM) geophysical survey for approximately 1,248 line-kilometres in two survey grids.  Line spacing will be 125m on the North grid (Gjegjan deposit survey area), and 200m spacing on the South grid.  Geotech will be utilizing their Versatile Time Domain Electro Magnetic System (“VTEM”) in order to identify massive sulfide concentrations.  The Geotech VTEM system provides the latest in deep penetrating EM geophysical surveying technology and exhibits significant advantages over other commercially available systems. Flight operations began in early January. We expect the process to take six to eight weeks to process the raw EM data and produce the geophysical modeling required to plan Volcanic’s 2010 drill program. The contract is a CDN$280,000 commitment. More information about the technology is available at Geotech’s website www.geotechairborne.com. 

The airborne survey was successfully completed the 26th of February in all high-priority areas of the North and South Blocks - including additional, higher density lines around the highest priority anomaly to date in the North. Final compilation of data is being processed currently; there are many high-priority drill targets associated with the initial results. Maps of prospective zones and targets will be updated to the website as they become available.