Business
Volcanic Gold Mines updates on progress at Holly Property and other developments in Guatemala
Vancouver, British Columbia – TheNewswire - Volcanic Gold Mines Inc. (TSXV:VG) (“Volcanic” or “the Company”) is pleased to report on the progress made at the Ho
About this update from Volcanic Gold Mines Inc.
[{"type":"text","content":"Vancouver, British Columbia – TheNewswire - Volcanic Gold Mines Inc. (TSXV:VG) (“Volcanic” or “the Company”) is pleased to report on the progress made at the Holly Property. Government Progress The Presidential Commission for Peace and Human Rights held the first coordination meetings with institutions and authorities at the national, departmental, and municipal levels during the past few weeks regarding the incidents that took place at the Holly property on February 23rd of this year. From these meetings it is clear that the Central government and Departmental government of Chiquimula support the Holly project and will work with Volcanic to regain the social licence. Volcanic looks forward to a resolution of the issues and a resumption of work at the project and corresponding news flow. Holly Project Gold Discovery and New Exploration Opportunities The gold and silver discovery we have made at Holly is significant. It is a high-grade vein deposit that could be mined from underground, causing very little surface disruption. It will not require a processing plant as in the near future there will likely be two mills in operation within trucking distance. We are in the process of concluding an inferred resource calculation and from that we will generate an approximate value of the deposit that has been discovered to date. Further, the deposit is open in all directions. We will continue to move forward at a pace that will protect the investment we have made and the value we have created. Elsewhere in the country the Company is actively reviewing the land position it optioned when we signed the agreement with Radius Gold Inc on June 1st 2020. Several of the areas have been reviewed, some have been rejected and the concession applications cancelled. To date, three have shown significant promise and the Company is going through the process of getting these concessions granted. There are many more areas to review and the work is ongoing. ESG and CSR Responsibilities Wherever we work, we make it clear to the local population the work we do, the goal of our work and significance if we are successful (i.e. the development of a mine could follow, and the positive and negative implications of that). We then focus on areas where the local population is in favor of exploration work and where there is ...