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Volcanic Gold Mines commences drilling at the Mila Gold Discovery, Guatemala
(TheNewswire) News Release Shares issued 45,551,210 VG close - C$0.215 Febr...
About this update from Volcanic Gold Mines Inc.
[{"type":"text","content":"Volcanic Gold Mines commences drilling at the Mila Gold Discovery, Guatemala\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 News Release\n \n Shares issued\n \n \n 45,551,210\n \n VG close - C$0.215\n \n \n \n \n February 15, 2024 – TheNewswire -\n \n \n Vancouver, British Columbia – Volcanic Gold Mines Inc.\n(TSXV:VG) (“Volcanic” or the “Company”) and joint venture\npartner Radius Gold Inc. (TSXV: RDU) are pleased to announce that a\nfirst-pass drilling campaign has commenced on the Mila Gold Discovery\nlocated within the Motagua Norte Project.\n \n \n \n \n The Mila prospect to date is defined over a 250 m by\n600 m area of quartz outcrop, subcrop and boulder float with abundant\nvisible gold and bonanza grade assays discovered by Company geologists\nin Central Guatemala. A diamond core\n \n \n drilling\n \n \n rig has mobilized to commence exploration of the\ncompelling gold targets developed at Mila. Drill holes are designed to\nestablish the width, grade and geometry of gold mineralization. The\nCompany anticipates drilling between 1000 and 3000 m of diamond core\nin the first campaign.\n \n \n \n \n The Mila discovery presents an unusual challenge for\nexploration but an exceptional opportunity. The abundance of\ngold-mineralized quartz boulders covering the surface makes it\ndifficult to map-out, measure and model the gold mineralized\nstructures\n \n \n .\n \n \n Of\napproximately 420 rock chip samples collected at surface across the\narea over one hundred returned assays exceeding 10 g/t gold, including\ntwenty-one of over 100 g/t gold and a maximum of 692 g/t gold. With\nwidely distributed gold-bearing quartz at surface it is difficult to\ndistinguish the in situ quartz outcrop from the boulder piles that\nform at the base of collapsed vein outcrops and from boulder scree\nthat has been locally transported downhill.\n \n \n In\naddition\n \n \n to the obvious quartz vein\nmineralization, gold has also been observed hosted within sericite\naltered and micro-veined schist with samples returning assay results\nof up to 94 g/t gold, indicating potential for significant wall rock\nmineralization.\n \n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n \n The north-south str...