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Volcanic Gold Mines Reports Bonanza Grade Gold Discovered Across Wide Areas at Mila Target, Guatemala
October 11, 2023 – TheNewswire - Vancouver, British Columbia – Volcanic Gold Mines Inc. (TSXVVG) (“Volcanic” or the “Company”) is pleased to provide an explorat
About this update from Volcanic Gold Mines Inc.
[{"type":"text","content":"October 11, 2023 – TheNewswire - Vancouver, British Columbia – Volcanic Gold Mines Inc. (TSXVVG) (“Volcanic” or the “Company”) is pleased to provide an exploration update on the high-grade Mila prospect in the Motagua Norte project in Guatemala. Highlights of the gold discoveries at the Mila prospect: Concentration of bonanza-grade and visible gold in quartz veins over a 250 x 570 m area. Continuous line rock chip sampling across mixed outcrop, subcrop, boulder fields of 34 m averaging 42 g/t gold and 24 m averaging 54 g/t gold. High-grade gold in both quartz veins and stockwork quartz in the wallrock suggests wide zones of gold mineralization. Visible gold in quartz veins identified in new areas to the south and west of Mila. Orogenic gold-silver deposit with significant depth potential. Trenching and drilling planned to establish the geometry, width and grade of the gold mineralization. The Company’s initial prospecting samples returned exceptional gold grades at Mila prospect (see news release Sept 1, 2022). In order to determine whether the very high gold grades (many samples above 1 oz gold / tonne) were the result of selective sampling or widespread across the target zones, a program of continuous 2 m chip sampling was conducted across mixed terrain of outcrop, subcrop and float boulders. In these areas it is not possible to be sure of true widths, and sampling was conducted to define the distribution of gold mineralization and target trench and drill priorities. Map of the Cirilo 1 exploration licence showing the location and gold grade of 513 rock chip samples collected during initial prospecting. High-grade gold assays and visible gold occur in both quartz veins, and in wallrock quartz stockwork zones. Multiple quartz veins with at least two different orientations are recognized; north-south and northwest-southeast striking. The principal mineralized quartz veins form prominent mounds and ridges of collapsed outcrop boulder piles with quartz boulders up to 2 m in diameter and outcrops up to 4 m or more in width. Continuous chip channel sampling across one prominent ridge has returned average grades of up to 95 g/t gold across a 10 m width of collapsed quartz vein boulders, each sample representing a 2 m long segment of the line. Significantly wider quartz boulder fie...