WMC kicks Vulcain’s tires (May 09, 2005)

WMC Resources (WMC-N) has entered a confidentiality agreement with Matamec Explorations (MAT-V) for negotiations on the Vulcain nickel-copper property in Quebec.

WMC gains access to Matamec’s exploration data for 60 days, after which it must either walk away or begin negotiations for the project.

Recent drilling on Vulcain, 165 km southeast of Val d’Or, returned nickel grades of 0.26-2.09% and copper grades of 0.29-1.58% over core lengths ranging from 4.6 to 15.7 metres. The new mineralization is south of the Renzy Lake open pit, which produced 650,000 tonnes of low-grade nickel and copper ore between 1969 and 1972.