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Volcanic Gold Mines Inc T.VG


Primary Symbol: V.VG Alternate Symbol(s):  VLMZF

Volcanic Gold Mines Inc. is a Canada-based company, which is engaged in the acquisition and exploration of mineral properties, focused on building multi-million-ounce gold and silver resources in under-explored countries. The Company has a 60% interest in two highly prospective gold-silver projects in Guatemala: Holly deposit and Motagua Norte project. The Holly deposit is an advanced-stage, high-grade gold-silver deposit with demonstrated underground mine potential. The Holly property straddles the regional Jocotan Fault which forms part of the 400 kilometers (km) long by up to 80 km wide deformation zone that separates the North American and Caribbean plates. The Motagua Norte project has a bonanza-grade gold-silver quartz vein system. The Motagua Norte project covers an area of over 86 square kilometers (km2) land position. The Cirilo 1 exploration license covers an area of over 13.5 km2 and includes the Mila gold anomaly. The 72.68 km2 is under application for exploration licenses.


TSXV:VG - Post by User

Bullboard Posts
Post by Solraideron Dec 05, 2012 6:37am
256 Views
Post# 20684779

Raising more cash

Raising more cashThe Company intends to use the net proceeds to complement cash flow from operations in order to (i) fund the development of Starvation Canyon mine at Jerritt Canyon, (ii) fund additional bonding for future reclamation obligations arising from the current years investment into a second tailings facility, (iii) fund exploration in areas with significant near term potential, (iv) fund the completion of re-grading existing rock disposal areas at Jerritt Canyon, the final item remaining under the Consent Decree, and (v) improve working capital and also for general corporate purposes, all of which is detailed in the Prospectus Supplement.>
Bullboard Posts