Business
Volcanic Gold provides further update on drilling at Motagua Norte property, Guatemala
(TheNewswire) April 3, 2024 – TheNewswire – Vancouver, British Columb...
About this update from Volcanic Gold Mines Inc.
[{"type":"text","content":"Volcanic Gold provides further update on drilling at Motagua Norte property, 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 April 3, 2024 –\n \n \n TheNewswire –\n \n \n Vancouver, British Columbia – Volcanic Gold\nMines Inc. (TSXV-VG) (“Volcanic” or the “Company”) and joint\nventure partner Radius Gold Inc. are pleased to present a further\nupdate on the ongoing drilling campaign at the Motagua Norte\nProject.\n \n \n \n \n As previously reported, drilling to date has confirmed\nthat the broad area of boulder float with abundant bonanza grade assay\nresults discovered by Company geologists is underlain by a\nserpentinite package, and that all of the colluvial boulders of quartz\nand schists bearing the high-grade gold values have likely moved\ndownslope from a major structural corridor that we have named the Veta\nMadre Fault Zone.\n \n \n \n \n To date two drill holes cutting across the broad Veta\nMadre Fault Zone have been completed. Both holes have cut wide zones\nof quartz veining and quartz stockwork at the fault contact between\nserpentinite in the hanging wall to the north, and schistose rock in\nthe footwall to the south.  The wide stockwork zones with associated\nintense silica-sericite alteration of the host rock appear to be best\ndeveloped in the footwall schist, although stockwork veining has been\nrecognized on both sides of the vein.\n \n \n \n \n Hole MIDD-24-004 targeted the Veta Madre above the\ncentral part of the colluvial field, drilling through 98 m of\nserpentinite before reaching the fault zone at a depth of\napproximately 120 m below surface\n \n \n .\n \n \n The hole remained in veining and stockwork\nschists for 63 m before entering unaltered schistose rocks at 161 m.\nThe hole was drilled at an inclination of -45 degrees; true width of\nthe mineralized zone is yet to be confirmed as the dip of the fault,\nwhile thought to be steep, is as yet unknown.\n \n \n \n \n Hole MIDD-24-005 was drilled 100 m along strike to the\nwest of MIDD-24-004, collared closer to the fault zone so that it\nintersected the fault at a slightly shallower depth of approximately\n80 m below surface. This hole passed through 73 m of serpentinite\nbefore entering the...