Business
Volcanic Gold Mines provides update on activities in Guatemala
Vancouver, British Columbia – TheNewswire – September 1, 2022 - Volcanic Gold Mines Inc. (TSXV:VG) (“Volcanic” or “the Company”) is pleased to provide an update
About this update from Volcanic Gold Mines Inc.
[{"type":"text","content":"Vancouver, British Columbia – TheNewswire – September 1, 2022 - Volcanic Gold Mines Inc. (TSXV:VG) (“Volcanic” or “the Company”) is pleased to provide an update on the Company’s activities in Guatemala. “During the summer of 2022, Volcanic delivered our first inferred mineral resource estimate of over 400,000 ounces gold equivalent*,” stated Simon Ridgway, President & CEO of Volcanic Gold Mines Inc. “Reporting the resource estimate for the discovery at the Holly property was important to show the community in Guatemala that we are developing a viable resource that will lead to a positive economic influence on the area and offer well paying, much needed employment for members of the community. We look forward to advancing our projects in Guatemala and being a positive influence toward creating wealth and strong employment opportunities in the coming years,” continued Mr. Ridgway. Holly Property The Company filed on SEDAR an NI 43-101 technical report (see news release July 27, 2022) in support of the previously announced maiden Inferred Mineral Resource Estimate for the Holly property, Guatemala (see news release June 9, 2022). The Mineral Resource Estimate is effective June 7, 2022 and is reported in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards (2014) incorporated by reference in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. A maiden Inferred Mineral Resource of 406,316 oz Au Eq* has been estimated for the first target, La Peña vein at Holly. The high grade La Peña vein remains open to expansion along strike and at depth. Several other drill targets remain to be tested at Holly with potential for new discoveries. Volcanic continues to work closely with the local communities toward employment opportunities and educational outreach. The community’s primary areas of interest are more employment and positive projects. The Company is diligently working with the various community participants and is encouraged by the Community Councils for Urban and Rural Development (COCODE) of Guatemala looking for further discussion. The COCODE is configured as the coordinating entity for participation at the community level and is made up of residents of the corresponding community. * Gold Equivalent (AuEq) values based on US$1800 Au and US$22 Ag, using...