bluestone properties

Volcanic extends Pyramid Hill and Zapote vein systems

 

(TheNewswire)

   

March 2, 2021 TheNewswire - Vancouver, British Columbia Volcanic G old Mines Inc. (TSXV:VG) is pleased to announce results from its continuing exploration program being conducted on the Banderas Project in Eastern Guatemala.

 

  Exploration Highlights:  

 
  •  

      - Pyramid Hill vein systems extended for over 1,800 meters along strike. Mapping and sampling defined a NW/SE broad zone of stockwork and brecciation hosting multiple quartz veins of up to 3m width with both shallow and vertical dips. Rock chip and sub crop sampling returned grades up to 6.2 grams per tonne ("g/t") Au and 273 g/t Ag.  

     
  •  
  •  

      - Zapote mineralization identified 1,500m along strike to the southeast beyond extensive cover, returning up to 2.7 g/t Au and 14.7 g/t Ag from surface vein outcrop sampling. Zapote zone now mapped along a 3,100m strike length.  

     

  •  

  The Banderas property is located in eastern Guatemala, 35km north of Bluestone's Cerro Blanco gold deposit and 7 km south of Volcanic's Holly Property (see release     Feb 9, 2021     ). Pre vious work on the Banderas property has identified two extensive gold/silver bearing vein systems, the Pyramid Hill and the Zapote Zones.

 

The Pyramid Hill zone consists of two northwest trending sub-parallel vein zones located approximately 500m apart, called the Pyramid Hill ("PH") and the "M28" zones. Each zone hosts several 1- to 5-meter-wide quartz veins.  At the PH zone, the veins dip steeply to the northeast and are surrounded by a prominent alteration zone with an approximate 20m wide zone of stockwork veining and brecciation, and at M28, the veins dip shallowly to the west.

 

Recent mapping has extended both vein systems by 1.5km to the southeast, extending them both to nearly 3.5km in length. Initial results received from 96 samples submitted for analysis in December, returning grades up to 6.2 g/t Au and 273 g/t Ag; significant results are summarized in table 1 below:

 

Table 1: Initial sample results Banderas and Zapote prospects

 
                                                                                                                   
 

  Sample_ID  

 
 

  Width  

 
 

  Au (g/t)  

 
 

  Ag (g/t)  

 
 

  Zone  

 
 

  RDU_GT_16936  

 
 

  Float  

 
 

  6  

 
 

  54.3  

 
 

  M28  

 
 

  RDU_GT_16945  

 
 

  Sub crop  

 
 

  1.8  

 
 

  129.6  

 
 

  M28  

 
 

  RDU_GT_14153  

 
 

  Float  

 
 

  2.2  

 
 

  79.1  

 
 

  M28  

 
 

  RDU_GT_16944  

 
 

  Float  

 
 

  3.7  

 
 

  60.8  

 
 

  M28  

 
 

  RDU_GT_16943  

 
 

  Float  

 
 

  1.7  

 
 

  41.8  

 
 

  M28  

 
 

  RDU_GT_16942  

 
 

  Float  

 
 

  4.5  

 
 

  273.1  

 
 

  M28  

 
 

  RDU_GT_16965  

 
 

  Float  

 
 

  0.8  

 
 

  121  

 
 

  M28  

 
 

  RDU_GT_17136  

 
 

  Float  

 
 

  5.3  

 
 

  77.4  

 
 

  PH  

 
 

  RDU_GT_17137  

 
 

  Float  

 
 

  6.2  

 
 

  110  

 
 

  PH  

 
 

  RDU_GT_16961  

 
 

  Sub crop  

 
 

  1.1  

 
 

  9.6  

 
 

  PH  

 
 

  RDU_GT_16952  

 
 

  Sub crop  

 
 

  1.8  

 
 

  19.1  

 
 

  PH  

 
 

  RDU_GT_60172  

 
 

  1.5  

 
 

  1.7  

 
 

  18.7  

 
 

  PH  

 
 

  RDU_GT_17153  

 
 

  3.0  

 
 

  1.7  

 
 

  3.9  

 
 

  PH  

 
 

  RDU_GT_18740  

 
 

  Float  

 
 

  2.4  

 
 

  34  

 
 

  PH  

 
 

  RDU_GT_11116  

 
 

  Float  

 
 

  0.7  

 
 

  4.4  

 
 

  Zapote  

 
 

  RDU_GT_16212  

 
 

  1.0  

 
 

  0.5  

 
 

  1.6  

 
 

  Zapote  

 
 

  RDU_GT_16214  

 
 

  3.0  

 
 

  0.6  

 
 

  7.6  

 
 

  Zapote  

 
 

  RDU_GT_11160  

 
 

  Sub crop  

 
 

  1.1  

 
 

  9.3  

 
 

  Zapote  

 
 

  RDU_GT_11115  

 
 

  Float  

 
 

  2.7  

 
 

  14.7  

 
 

  Zapote  

 
 

  RDU_GT_14003  

 
 

  Float  

 
 

  1.1  

 
 

  9.1  

 
 

  Zapote  

 
 

  RDU_GT_12226  

 
 

  Float  

 
 

  1.3  

 
 

  8.3  

 
 

  Zapote  

 
 

  RDU_GT_13344  

 
 

  5.0  

 
 

  0.1  

 
 

  205.5  

 
 

  Zapote  

 
 

   Figure 1:  Banderas Prospect Au rock samples   

 

    
Click Image To View Full Size
 

 

   Figure 2:  Banderas prospect Ag rock samples   

 

    
Click Image To View Full Size
 

 

Historically, over 40 shallow drill-holes have explored the PH and M28 systems and returned broad zones of low-grade gold/silver mineralization in both mineralized corridors including:

 
                                                                                                                                
 

  Hole_ID  

 
 

  From  

 
 

  To  

 
 

  Interval (m)  

 
 

  Au (g/t)  

 
 

  Ag (g/t)  

 
 

  AuEq* (g/t)  

 
 

  Zone  

 
 

  BDD-003  

 
 

  12.2  

 
 

  38.1  

 
 

  25.9  

 
 

  0.74  

 
 

  33.7  

 
 

  1.19  

 
 

  M28  

 
 

  BDD-004  

 
 

  53.1  

 
 

  74.7  

 
 

  21.6  

 
 

  1.25  

 
 

  29.6  

 
 

  1.64  

 
 

  M28  

 
 

  BDD-005  

 
 

  24.4  

 
 

  40.2  

 
 

  15.8  

 
 

  0.89  

 
 

  22.1  

 
 

  1.18  

 
 

  M28  

 
 

  BDD-007  

 
 

  67.1  

 
 

  83.7  

 
 

  16.6  

 
 

  1.22  

 
 

  22.3  

 
 

  1.52  

 
 

  M28  

 
 

  BDD-008  

 
 

  81.7  

 
 

  114  

 
 

  32.3  

 
 

  1.25  

 
 

  29.6  

 
 

  1.64  

 
 

  M28  

 
 

  BDD-014  

 
 

  36.3  

 
 

  58.5  

 
 

  22.2  

 
 

  0.9  

 
 

  48.3  

 
 

  1.54  

 
 

  PH  

 
 

  BDD-015  

 
 

  79.2  

 
 

  114.3  

 
 

  35.1  

 
 

  0.5  

 
 

  7.3  

 
 

  0.60  

 
 

  PH  

 
 

  BDD-016  

 
 

  126.5  

 
 

  156.1  

 
 

  29.6  

 
 

  0.7  

 
 

  3.2  

 
 

  0.74  

 
 

  PH  

 
 

  BDD-018  

 
 

  65.2  

 
 

  89.9  

 
 

  24.7  

 
 

  0.68  

 
 

  41.6  

 
 

  1.23  

 
 

  M28  

 
 

  BDD-019  

 
 

  74.7  

 
 

  94.5  

 
 

  19.8  

 
 

  1.05  

 
 

  42  

 
 

  1.61  

 
 

  M28  

 
 

  BDD05-031  

 
 

  152.5  

 
 

  188.8  

 
 

  36.3  

 
 

  1.03  

 
 

  2.3  

 
 

  1.06  

 
 

  PH  

 
 

  BDD11-013  

 
 

  61.5  

 
 

  82.3  

 
 

  20.8  

 
 

  2.1  

 
 

  38.1  

 
 

  2.61  

 
 

  M28  

 
 

  BRC04-024  

 
 

  167  

 
 

  171.5  

 
 

  4.5  

 
 

  24.6  

 
 

  185.3  

 
 

  27.1  

 
 

  M28  

 
 

  BRC04-027  

 
 

  67.5  

 
 

  85.5  

 
 

  18  

 
 

  0.4  

 
 

  5.4  

 
 

  0.47  

 
 

  PH  

 
 

  BRC04-028  

 
 

  85.5  

 
 

  129  

 
 

  43.5  

 
 

  0.4  

 
 

  6.1  

 
 

  0.48  

 
 

  PH  

 
 

*AuEq calculated using a 75:1 Ag to Au ratio

 

Simon Ridgway, Volcanic' s CEO stated, "The results of the recently completed mapping and sampling program have extended the PH and M28 vein systems by a further 1km to the southeast beyond the historic drilling.  Of note, the zones appear to be trending together and importantly we are starting to see elevated mercury, arsenic and antimony indicating that the historic drilling appears to have explored the upper part of the epithermal system above the potential bonanza gold-silver zone. These new anomalies represent significant potential for discovery at Pyramid Hill. We are also very excited about the Zapote system, where a robust 1.5km long epithermal system has been outlined and which is completely undrilled. Drill permits have been submitted to the Ministry of Environment and Natural Resources for these targets and we are optimistic that we will be able to test them later in the year following the completion of the drilling at the Holly Project."

 

Long sections of previous drilling and surface sampling at PH and M28 can be found on the Volcanic Gold   website.   

 

The Zapote Zone is located 1,500m to the west of the Pyramid Hill zone on the opposite side of a large Dacitic Dome that creates a broad barren area. The mineralized zone at Zapote lies at the contact of the Dacite flow rocks and the intruded Andesite/Rhyolite host rocks. Historic rock chip sampling over an area 150m wide along 800m of this contact has returned strongly anomalous gold/silver mineralization. At the southeast end the zone disappears under an extensive area of large Dacite boulders.  This target has never been drill tested.

 

Recent sampling has picked up the trend 850m to the southeast, directly on strike with the original Zapote trend. A group of 38 samples were collected from the Zapote South vein system  extending it 1.5km to the southeast, returning values up to 2.7 g/t Au and 14.7 g/t Ag

 

  Follow-up Exploration  

 

A geophysics program is being planned to be conducted in March and April to help guide proposed drill programs for both the Pyramid Hill and the Zapote mineralized systems. Volcanic's geologists have collected a further 484 samples from these target areas and the results are pending.

 

  Technical Information  

 

  The technical contents of this press release have been reviewed by Matthew Booth, a Qualified Person for the purposes of NI 43-101. Mr. Booth has over 17 years of mineral exploration experience and is a Qualified Person member of the American Institute of Professional Geologists (CPG 12044).  

 

  About Volcanic  

 

Volcanic brings together an experienced and successful mining, exploration and capital markets team focused on building multi-million -ounce gold and silver resources in underexplored countries.  Through the strategic acquisition of mineral properties with demonstrated potential for hosting gold and silver resources, and by undertaking effective exploration and drill programs, Volcanic intends to become a leading gold-silver company.

 

For further information, visit our website at   www.volgold.com   .

 

 Volcanic Gold Mines Inc.

 

Simon Ridgway, President and CEO

 

  Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.  

 

Forward-looking statements

 

  Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation.   All statements included herein, other than statements of historical fact, are forward- looking statements and include, without limitation, statements about the Company's plans for exploration work in Guatemala. Often, but not always, these forward looking statements can be identified by the use of words such as "estimate",   "estimates",   "estimated",   "potential",   "open",   "future",   "assumed",   "projected",   "used",   "detailed",   "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative   variations.  

 

  Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual   results,   performance   or   achievements   of   the   Company   to   be   materially   different   from   any   results,   performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, whether the Company's planned exploration work will be proceed as intended; changes in general economic conditions and financial markets; the Company or any joint venture partner not having the financial ability to meet its exploration and development goals; risks associated with the results of exploration and development activities, estimation of mineral resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses;   and   such   other   risks   detailed   from   time   to   time   in   the   Company's   quarterly   and   annual   filings   with   securities regulators and available under the Company's profile on SEDAR at    www.sedar.com.    Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or   intended.  

 

  Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management,   including   but   not   limited   to:   that   the   Company's   stated   goals   and   planned   exploration   and   development activities   will   be   achieved;   that   there   will   be   no   material   adverse   change   affecting   the   Company   or   its   properties;   and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company   disclaims   any   obligation   to   update   any   forward-looking   statements,   whether   as   a   result   of   new   information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements   will   prove   to   be   accurate,   as   actual   results   and   future   events   could   differ   materially   from   those   anticipated in such statements. Accordingly, investors should not place undue reliance on   forward-looking   statements.  

 

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