Business
Volcanic Gold Completes Earn-In on Guatemala Properties
(TheNewswire) August 19, 2024 – TheNewswire – Vancouver, Brit...
About this update from Volcanic Gold Mines Inc.
[{"type":"text","content":"Volcanic Gold Completes Earn-In on Guatemala Properties\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n August 19, 2024 –\n \n\n TheNewswire –\n \n\n Vancouver, British Columbia – Volcanic Gold Mines Inc.\n(TSXV: VG) (“Volcanic”) and joint venture partner, Radius Gold\nInc. (TSXV: RDU) (“Radius”),\n \n\n are pleased to\nreport that Volcanic has fulfilled the modified Option Agreement (see\nNews Release February 21, 2024) and earned a 60% interest in\nRadius’s Holly and Motagua Norte Properties in Guatemala by\ncompleting the required US$7 million in exploration expenditures.\n \n\n\n\n During the period July 2021 to July 2022 Volcanic\ninvested over US$4.5 in exploration on\n \n\n the\n \n\n Holly Project, the majority of that was spent on\ndrilling, and the joint venture established a high-grade epithermal\n \n\n gold-silver inferred mineral resource of\n \n\n 4\n \n\n 10,000oz at 9.6 g/t\nAuEq\n \n\n 1\n \n\n .\n \n\n\n\n The resource was established on the La Pena vein, is\nopen in all directions and is just one of many epithermal veins on the\nHolly property. Typical results of the drilling were exceptional high\ngrade intercepts, such as\n \n\n 4.57m @ 54.24 g/t Au\nand 3925 g/t Ag in hole HDD-21-027\n \n\n and 6.52m @\n11.72 g/t Au and 340 g/t Ag in hole HDD-21-019\n \n\n .\n \n\n However, as has been previously stated, the\njoint venture has put exploration of the property on hold until there\nis advancement at the two significant precious metal deposits in\nGuatemala within a 100 Kms of Holly where developments are pending:\nthe multi-million ounce Cerro Blanco gold deposit and the high grade\nsilver-lead-zinc deposit at Escobal.\n \n\n\n\n\n\n\n\n Going forward the Companies will share holding costs of\nthe properties in Guatemala 60/40 until there is clarity of the\nCountry’s approach to mineral exploration and mining.\n \n\n\n\n The Volcanic team is presently reviewing opportunities\nin other jurisdictions.\n \n\n\n\n\n\n 1)\n \n\n The\neffective date of the Mineral Resource Estimate is June 7, 2022 and an\nNI43-101 Technical Report on the Holly property is filed on the\nCompany’s website and SEDAR+ at sedarplus.ca with a reporting date\nof July 20, 2022.\n \n\n\n\n\n\n Technical Infor...