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Nichtsdestotrotz, bei Volcanic könnte was gehen:
Volcanic Gold Mines commences drilling at the Mila Gold Discovery, Guatemala
February 15, 2024 – TheNewswire - Vancouver, British Columbia – Volcanic Gold Mines Inc.
(TSXV:VG) (“Volcanic” or the “Company”) and joint venture
partner Radius Gold Inc. (TSXV: RDU) are pleased to announce that a
first-pass drilling campaign has commenced on the Mila Gold Discovery
located within the Motagua Norte Project.
The Mila prospect to date is defined over a 250 m by
600 m area of quartz outcrop, subcrop and boulder float with abundant
visible gold and bonanza grade assays discovered by Company geologists
in Central Guatemala. A diamond core drilling
rig has mobilized to commence exploration of the
compelling gold targets developed at Mila. Drill holes are designed to
establish the width, grade and geometry of gold mineralization. The
Company anticipates drilling between 1000 and 3000 m of diamond core
in the first campaign.
The Mila discovery presents an unusual challenge for
exploration but an exceptional opportunity. The abundance of
gold-mineralized quartz boulders covering the surface makes it
difficult to map-out, measure and model the gold mineralized
structures. Of
approximately 420 rock chip samples collected at surface across the
area over one hundred returned assays exceeding 10 g/t gold, including
twenty-one of over 100 g/t gold and a maximum of 692 g/t gold. With
widely distributed gold-bearing quartz at surface it is difficult to
distinguish the in situ quartz outcrop from the boulder piles that
form at the base of collapsed vein outcrops and from boulder scree
that has been locally transported downhill. In
addition to the obvious quartz vein
mineralization, gold has also been observed hosted within sericite
altered and micro-veined schist with samples returning assay results
of up to 94 g/t gold, indicating potential for significant wall rock
mineralization.
![](https://goldseiten-forum.com/wcf/attachment/208057-1-png/)
The north-south striking quartz ridge which returned
rock chip assays of up to 116 g/t gold is being tested in the first
few drill holes.
![](https://goldseiten-forum.com/wcf/attachment/208058-2-png/)
Sericite altered schist with quartz stockwork veinlets
cropping-out on the eastern wall of the north-south quartz ridge
returned assay results of up to 118 g/t gold is also being targeted in
the first few drill holes.
Geological mapping of outcrops combined with
interpretation of topographic features suggests that there are
multiple quartz veins in at least two different orientations:
north-south and northwest-southeast striking, with the best assay
results concentrated in north-south trends. Continuous chip
channel sampling across the best-defined
north-south structure, a 250 m long ridge running through the centre
of the prospect area, returned average grades of 95 g/t gold across a
10 m width of collapsed quartz vein boulders. This structure, and at
least two more less well-defined parallel quartz
boulder ridges are interpreted as north-south
striking veins. True thickness and dip direction of these veins is not
yet understood and will be tested in the initial drilling.
Drilling will also test a 100
m-wide dense quartz boulder field on the west side of the central
north-south structure continuous lines of 2 m
long chip channel samples of mixed outcrop, subcrop and colluvium
returned average grades
of 42 g/t gold along a 34
m line, and 54 g/t gold along a 24 m long line. The surficial quartz in this area is
interpreted as the expression of multiple, close-spaced quartz veins.
The number of veins and their geometry are undefined.
The initial drill programme is exploratory in nature
and aims to establish the number of zones, width, grade and geometry
of the gold bearing structures.
Simon Ridgway, Volcanic Gold Mines President and CEO,
commented:
“The
Volcanic team's dedication has resulted in the discovery of great
high-grade drill targets and secured licenses, permits and community
support for the Motagua Norte project. The team is enthusiastic to
commence drilling the first holes into the multiple gold targets in
the Mila prospect. The results of several rock chip sampling programs
conducted in recent months along the belt has revealed several new
areas of interest where we are seeing similar high grades. A
successful drill program at Mila will reinforce my belief that the
Motagua Suture Zone has the potential to become a prolific gold camp.”
About the Motagua Norte
project
The Motagua Norte project is a gold system hosted by
schists of the Motagua suture zone, an east-west striking belt of
metamorphic rocks that outcrops at the line of collision between the
North American and Caribbean tectonic plates.
Volcanic Gold Mines has an option agreement with Radius
Gold Inc. to earn a 60% interest in the Cirilo I exploration licence
and other licences under applications and negotiation within the
Motagua Norte project, as well as the Holly Project where the joint
venture has established a high grade epithermal gold resource 60km
north of the Cerro Blanco Gold Deposit (see news release September 18,
2023).
Technical Information
Luc English PhD, who is a Chartered Geologist and
Fellow of the Geological Society of London, is the Company’s
Qualified Person as defined by National Instrument 43-101 - Standards
of Disclosure for Mineral Projects. Dr English has reviewed and
approved the technical information contained in this news
release.
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