flight to guatemala

Volcanic Gold receives drill permits for Holly project, Guatemala

(TheNewswire)



March 18, 2021 - TheNewswire - Vancouver, British Columbia Volcanic Gold Mines Inc. (TSXV:VG) is pleased to announce that it has received final approval from the Ministerio de Ambiente y Recursos Naturales  (Ministry of Environment and Natural Resources) to conduct drilling on the Holly Project in eastern Guatemala.

Simon Ridgway, Volcanic's CEO, commented: "The Ministry of Environment and Natural Resources has granted an environmental permit for the planned exploration program and we are very pleased to have received the drill permits for the Holly Project."

Mr. Ridgway continued: "In 2003 a short scout drill program intersected several high-grade Au-Ag veins, including 10.6m at 7.7 g/t gold and 263 g/t silver. These high grade drill intercepts never received follow-up drilling. The high grade veins strike perpendicular to the large altered and mineralized Jocotán fault zone. The Jocotan fault or the vein intersections with the fault have never been drill tested.  We are financed for a significant program and the team is motivated to test these highly prospective targets."

The Company will now move forward with logistics planning and drill contractor selection with a plan to commence drilling shortly after the Easter break.  The emphasis will be on exploring for high grade shoots associated with the intersection of the Jocotan Fault Zone zone and the NW-SE trending high grade vein systems, El Pi ñ o and La Pe ñ a.  Sampling at El Pino has returned grades of up to 2m at 110.3 g/t Au and 3508 g/t Ag, and the La Pe ñ a vein, which crops out 620m to the west, sampling has returned 2m at 44 g/t Au and 88 g/t Ag.  Surface rock and soil geochemistry indicates these two parallel quartz veins each have over a 600m strike potential.

Figure 1: Holly Exploration Targets and historic drill-holes


Click Image To View Full Size

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.

Copyright (c) 2021 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

The Conversation (0)
Volcanic Gold Mines

Volcanic Gold Mines

Overview

Volcanic Gold Mines Inc. (TSXV:VG, FWB:CKC1) is a Canadian exploration company focusing on high-yield precious metals exploration and development in a mining-friendly region of Central America. Volcanic Gold’s primary projects are located in the highly favorable jurisdiction of Guatemala, with involved mining experience and regional expertise in the country since 1998. The company’s management consists of a highly experienced mining and capital markets team that intends to leverage its deep domain expertise to identify favorable acquisition targets.

Guatemala shares the same geological belt as Mexico and the same world-class potential for precious metals discoveries. With minimal investment into this highly favorable jurisdiction, high-grade discoveries, such as Escobal and Cerro Blanco, have led to increased excitement and funding through a new wave of mining investments.

Keep reading...Show less

Focused on Discovering World-Class Precious Metal Deposits

Gold bars with rising graph overlay and text "Weekly Editor's Picks."

Editor's Picks: Gold Knocks Out Inflation-Adjusted High, Silver Breaks US$42

Gold's record-setting price run continued this week, with yet another new all-time high in the books. Silver also fared well, breaking US$42 per ounce.

According to Bloomberg, gold has now also surpassed its inflation-adjusted all-time high of US$850 per ounce, which it set more than 45 years ago on January 21, 1980. The news outlet notes that at the time the US was dealing with currency issues, inflation and recession concerns.

These are problems that sound all too familiar today. This week brought the release of the latest US consumer price index (CPI) data, which shows a 0.4 percent month-on-month increase for the all-items index — that's ahead of estimates and the most since the start of 2025.

Keep reading...Show less
Gold pan holding pieces of gold from creek placer deposit, with words '5 Top Canadian Mining Stocks This Week.'

Top 5 Canadian Mining Stocks This Week: Guardian Exploration Gains 94 Percent

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

On Thursday (September 11), Canadian Prime Minister Mark Carney revealed the first tranche of projects selected by the newly created Major Projects Office.

The goal of the office is to accelerate timelines for projects deemed to be in the national interest, which include infrastructure, natural resources and technology. The office is being led by Dawn Farrell, who previously served as president and CEO of TransAlta (TSX:TA) and Trans Mountain. Three of the five projects announced are well into permitting or development and the Prime Minister said that the intention was to help them with a final regulatory push or to find the financing needed to complete.

Keep reading...Show less
Hamak Gold

Admission to Trading on the OTCQB Market

Hamak Gold Limited (LSE: HAMA / OTCQB: HASTF), a company combining traditional gold exploration in West Africa with a Digital Asset Treasury Management strategy, is pleased to announce that the Company's shares have been admitted to trading on the OTC Venture Market ("OTCQB") in the United States, under the symbol "HASTF". No new Ordinary Shares have been issued by the Company for this parallel trading of its shares.

The purpose of the listing of shares on the OTCQB is to broaden the Company's exposure to the North American investor markets and to increase trading liquidity in a drive to deliver shareholder value.

Keep reading...Show less
Stock market display with "Mergers and Acquisitions" in green and white text.

Barrick’s Plan to Sell Hemlo Mine for US$1 Billion Marks Canadian Exit

Barrick Mining (TSX:ABX,NYSE:B) has agreed to sell its Hemlo gold mine in Ontario for up to US$1.09 billion, transferring one of Canada’s most storied gold operations to a new owner and continuing Barrick’s shift away from non-core assets.

The company announced on Thursday (September 11) that Carcetti Capital (TSXV:CART.H,LSE:ORUG), which will be renamed Hemlo Mining (HMC), will acquire the mine under terms that include US$875 million in cash, US$50 million in HMC shares, and as much as US$165 million in contingent payments tied to future gold prices and production.

Barrick president and chief executive Mark Bristow said that the sale is part of the company’s ongoing capital allocation approach, noting that proceeds will help bolster the company’s balance sheet and fund returns to shareholders.

Keep reading...Show less
Gold nuggets beside text: "5 Top Australian Mining Stocks This Week."

Top 5 Australian Mining Stocks This Week: Zenith Minerals Strikes Gold at Red Mountain

Welcome to the Investing News Network's weekly round-up of the top-performing mining stocks listed on the ASX, starting with news in Australia's resource sector.

Companies focused on a mix of minerals and resources once again form this week’s top stocks list, including ones searching for gold, rutile, graphite, lithium and oil.

Significant news, including broad mineralisation discoveries and new acquisitions, drove the top performers this week, which you can learn more about in the list below.

Looking at the bigger picture, Australian lithium stocks took a hit this week following the announcement of Chinese battery giant Contemporary Amperex Technology's (SZSE:300750,HKEX:3750) reported production restart at its Jianxiawo lithium mine in Yichun. Lithium prices and mining companies had previously been lifted in mid-August after the mine was suspended.

Keep reading...Show less
Toronto Stock Exchange sign on a stone wall.

Newmont to Exit Toronto Stock Exchange as Cost Cuts Deepen

Newmont (TSX:NGT,NYSE:NEM,ASX:NEM) is preparing to withdraw from the Toronto Stock Exchange later this month, the latest in a string of moves to streamline operations and rein in costs following its US$15 billion takeover of Newcrest Mining in 2023.

The Denver-based miner said Wednesday it has applied for a voluntary delisting of its common shares from the TSX, effective at the close of trading on September 24.

Keep reading...Show less

Latest Press Releases

Related News

×