Announcement Date: 2022-07-20
Announcement Type: Deposit Estimation
Announcement Code: NI43-101
Company name: Volcanic Gold Mines Inc.
Project name: Holly
Location: Guatemala
Commodities: Gold,Silver
Highlight: Initial Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: This National Instrument 43-101 (“NI 43-101”) Technical Report for the Holly Gold-Silver Project Mineral Resource Estimate, Southeastern Guatemala, was prepared for and on behalf of Volcanic Gold Mines Inc., (“Volcanic”) to support and detail technical aspects of the mineral resource estimate with an effective date of June 7, 2022. Volcanic Gold Mines Inc. has an exclusive option with Radius Gold Inc. (“Radius”) to earn a 60% interest in Radius’s Holly Gold-Silver Project (“Holly” or “the Project”) in southeastern Guatemala. The Holly mineralized zone is covered by one active exploration licence, named El Dorado, covering an area of 95.29 km2 . The Project is located in the volcanic highland terrane of southeastern Guatemala, a region of sharply contrasting valleys and rolling to rugged topography, with elevations in the project area ranging from ~450 metres above sea level (“masl”) to ~1425 masl. The climate is sub-tropical, with a dry and wet season. The closest major population centre is the town of Chiquimula, population approximately 110,000, located 15 kilometres to the north. Some parts of the Project are directly road accessible, and others are accessed on foot through local footpaths or narrow tracks. The first modern mineral exploration reconnaissance on the license took place in the early 2000s, with stream sediment sampling and follow-up soil geochemistry
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