September 1, 2022 (Source) – Volcanic Gold Mines Inc. (TSXV: VG) (“Volcanic” or “the Company”) is pleased to provide an update on the Company’s activities in Guatemala.
“In the summer of 2022, Volcanic delivered our first inferred mineral resource estimate of more than 400,000 ounces of gold equivalent*,” said Simon Ridgway, president and chief executive officer of Volcanic Gold Mines Inc. emerging a viable resource that will lead to economic influence in the region and provide indispensable and well-paid jobs for network members. We look to the future to advance our projects in Guatemala and exert an influence on wealth creation and strong employment opportunities in the future. years,” Mr. Ridgway continued.
holly property
The Company has submitted to SEDAR a NI NI 43-101 technical report (see press release of July 27, 2022) in the context of the first previously announced inferred mineral resources estimate for Holly’s assets in Guatemala (see Press Release of June 9, 2022). 2022). The Mineral Resources Estimate takes effect on June 7, 2022 and is submitted in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards (2014) incorporated by reference into National Instrument 43-101 – Disclosure Standards for Mining Projects. A first inferred mineral resource of 406,316 oz. Au Eq* was estimated for the first objective, the La Peña vein in Holly. The high-grade La Peña vein remains open to longitudinal and deep expansion. Several other drilling targets remain to be tested at Holly with the prospect of new discoveries.
Volcanic continues to work intensively with local communities to find employment and outreach opportunities. The main areas of interest of networking are more positive works and projects. Rural Development (COCODE) in search of extra discussions. The COCODE is configured as a coordinating entity of participation in the netpaintings point and is integrated by the citizens of the corresponding netpaintings.
*Gold equivalent values (AuEq) based on 1,800 USD Au and 22 USD Ag, formula: g/t gold (g/t silver*0. 01222)
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Volcanic is making progress lately on studies and reports for the Holly property, adding a hydrogeological study, an environmental monitoring report, and a report on the mine’s design and amenities.
The Company finishes resuming drilling once Bluestone Resources obtains a permit to build a mine at Cerra Blanco. Bluestone says it continues to advance its network engagement and socialization efforts to achieve greater social acceptance of Cerro Blanco’s development. The Company undertakes to demonstrate culpable mining practices and formalize social acceptance to continue with the advancement of the Acebo property. Maintaining and strengthening social acceptance with a view to obtaining the environmental permit and extending it until the end of the year is once again the main objective of the Corporation. This authorization would be an opportunity for the Holly property.
Motagua Norte Project
In Motagua Norte, the first regional exploration domain discovery resulting from the company’s 2020 agreement with Radius Gold Inc. , multi-element rock fragments and soil geochemistry explained an uninterrupted gold upper trend 2 to 3 kilometers long. gold up to 692 g/t. A significant amount of surface paints are being analysed and interpreted. Due to the incredibly high amounts of gold from surface sampling, the Company’s next step after the concession of the property concessions will be a trench crusade prior to drilling. The company is lately contemplating the terms of an imaginable radio gold allocation option.
The Motagua Norte allocation has a low population density, and the main target spaces have giant estates with some personal owners. There are formal agreements with landowners. Volcanic has environmental permits ready and submitted and is working with Radius Gold to prioritize the granting of those concessions.
flags property
The Corporation has submitted its application for a license to operate on the Banderas property. This includes the preparation of a painting plan and a mining environmental control plan. The Company continues to paint in deals with nearby netpaintings before beginning all drilling at Banderas. Consultation with netpaintings is needed to ensure that the benefits of the allocation are distributed and that all affected communities in the domain consent to them.
Technical information
Bruce Smith, M. Sc. (Geology), a fellow of the Australian Institute of Geoscientists, is the company’s qualified user as explained through National Instrument 43-101 – Disclosure Standards for Mineral Projects. Smith has reviewed and approved the technical information contained in this press release.
About Volcanic
Volcanic brings in combination an experienced and successful team in mining, exploration and money markets, focused on creating multi-million ounce gold and silver resources in underexplored countries. Through the strategic acquisition of mining homes with proven potential to host gold and silver resources, and by conducting effective exploration and drilling programs, Volcanic intends to become a leading gold and silver company.
For more information, visit our online page at www. volgold. com.
volcanic gold mines inc.
Simon Ridgway, President and Chief Executive Officer
Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts the adequacy or accuracy of this release.
Forward-Looking Statements
Certain statements in this press release constitute forward-looking statements within the meaning of Canadian securities law. All statements included herein, other than statements of old facts, are forward-looking statements and include, but are not limited to, statements about the Company’s plans for its genuine real estate interests in Guatemala. Often, but not always, such forward-looking statements may be known through the use of words such as “estimate,” “estimate,” “estimate,” “estimate,” “potential,” “open,” “future,” “assumption,” “projected,” “used,” “detailed,” “has been,” “obtained,” “enhanced,” “compensated,” “limited,” “content,” “reflecting,” “containing,” “remaining,” “being,” “periodically,” or statements that sometimes “could” or “should” happen or be achieved and expressions, adding negative variations.
Forward-looking statements involve known and unknown dangers, uncertainties and other items that could possibly cause the Company’s actual effects, functionality or achievements to be materially different from any effects, functionality or achievements expressed or implied by the declarations. future. These uncertainties and items include, among others, uncertainties inherent in mineral resource estimates; whether planned exploration paintings through the Company will continue as planned; adjustments in the general conditions of the economic and monetary market; the Company or any joint venture spouse who does not have the monetary ability to achieve their exploration and progression objectives; hazards related to the effects of exploration and progression activities, the estimation of mineral resources and the geology, grade and continuity of mineral deposits; unforeseen prices and expenses; and other hazards detailed from time to time in the Company’s quarterly and annual filings with the securities government and found on the Company’s profile on SEDAR at www. sedar. com. Although the Company has attempted to identify vital points that may also cause actual actions, events or effects to differ materially from those described in the forward-looking statements, there may be other points that cause actual actions, events or effects to differ from those anticipated, estimated or anticipated. expected.
The forward-looking statements contained herein are based on management’s assumptions, beliefs, expectations and opinions, including, but not limited to: that the Company’s stated objectives and planned exploration and progression activities will be achieved; that there will be no adverse replacement of curtains affecting the Company or its properties; and any other assumptions as set forth herein. Forward-looking statements are made as of the date hereof and the Company disclaims any legal responsibility to update any forward-looking statements, whether as a result of new information, events or long-term effects or otherwise. , as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual effects and long-term events may differ slightly from those expected in such statements. Accordingly, investors deserve not to position themselves unduly. reliance on forward-looking statements.
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