Nearly 4,000 Evacuated After the Calbuco Volcano erupts twice! The view from Puerto Varas shows a high column of ash and lava spewing from the Calbuco volcano in the darkness of early Thursday. The Calbuco volcano erupted Wednesday, spewing a giant plume of ash high into the sky. This volcano has stayed dormant for the last 42 years! Check out this time lapse video of the Calbuco volcano erupting!