Another Ultra Bonanza Drill…24 ounces of Gold eq Unbelievable and extended the resource another 80 m downdip confirming that, unbelievably, the grades keep getting better as we go deeper...
ORIGINAL: Radius Drills 4.58m at 79.84 g/t Au And 5,053 g/t Ag, in the Southern Extension of the High Grade La Pena Vein at Holly Project, Guatemala
2021-10-19 08:01 ET - News Release
(via TheNewswire)
2021-10-19 -VG - News Release
Shares issued 44,600,000
VG close - C$0.35c, W/C +$9 Million
Vancouver, British Columbia - TheNewswire – Volcanic Gold Mines Inc. (TSXV:VG) is pleased to report that results from drilling in the south extension of the La Pea vein at the Holly property have returned bonanza high grades including 4.58 @ 79.84 g/t Au and 5,053 g/t Ag. Volcanic has received results from Holly drill holes HDD-21-021 and HDD-21-023 which targeted the La Pea vein along strike to the south and HDD-21-022, which targeted the vein to the north. The drill has moved over to Volcanic’s Banderas Property after the termination of hole HDD-21-029 to allow the results of the Holly drilling to be received and the next program of holes to be planned with full results in hand.
Holly Highlights:
HDD-21-022 from 21.35m to 22.87m returns 1.52m @ 7.00 g/t Au and 48 g/t Ag
And 27.45m to 32.02m returns 4.57m @ 1.05 g/t Au and 14 g/t Ag
And 50.32m to 51.85m returns 1.53m @ 5.34 g/t Au
HDD-21-023 from 196.72m to 198.25m returns 1.53m @ 1.93 g/t Au and 171 g/t Ag
And 202.82m to 207.40m returns 4.58m @ 79.84 g/t Au and 5,053 g/t Ag
Including 204.45m to 205.70m returns 1.25m @ 289.50 g/t Au and 18,329 g/t Ag
The initial focus at the Pea vein system was to define the vein within the broad zone of the Jocotan fault breccia, extending the mineralization down dip to the zone with consistent high grades that were intersected in holes HDD-21-017 and 019. HDD-21-021 and HDD-21-023 were drilled to cut the Pea vein to the south of the Jocotan fault zone. HDD-21-021 cut minor upper-level veining with weaker mineralization including 1.18m of 0.19 g/t Au and 40 g/t Ag from 53.37 to 54.55m within felsic tuffs. Roughly 80m down dip, HDD-21-023 cut the structure hosted in laminated mudstones where the vein returned 4.58m @ 79.84 g/t Au and 5,053 g/t Ag. This hole confirms the strike extent of the Pea vein to the south and demonstrates that the inter-bedded volcanics and sediments are potentially good hosts for high grade gold and silver mineralization at Holly.
HDD-21-022 was drilled within the footwall of Pea and did not intersect the main structure. The significant results from 022 are footwall splay veins off Pea. It appears some fault offsets made it more challenging to extend mineralization to the north in the Paleozoic Phyllites, although results on holes HDD-21-026 and 027 to the north are still pending.
The drill rig will be moving over to the nearby Banderas Property in the next few days and drilling will commence promptly. Volcanic will be targeting the deeper extensions of the major gold-silver rich veins where the source and potential convergence zones have never been tested.
Figure 1. La Pea Zone; Long Section:
Click Image To View Full Size
Note: Reported intervals are drilled width. Estimated true widths are published in intercept table on website
Technical Information
Bruce Smith, M.Sc. (Geology), a member of the Australian Institute of Geoscientists, is Volcanic’s Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Smith has 27 years of mineral exploration experience and has prepared and approved the technical information contained in this news release.
Quality Assurance and Quality Control
Volcanic Gold follows industry standard procedures for diamond core drilling and analysis. Drilling is carried out using NQ and HQ size tooling. Drill core is cut in half using a rock saw with one-half of the core then taken as a sample for analysis. Sample intervals are generally 1m intervals, producing samples of between 2 to 9 kg. Half-core samples are delivered to the internationally certified Bureau Veritas Mineral laboratory facilities in Nicaragua where the samples are prepared. Assays are completed by Bureau Veritas certified laboratories. The samples are fire assayed for Au and are analyzed for Ag and multi-elements using method code ICP following a four-acid digestion. Overlimits are analyzed using an appropriate method. Multi-element geochemical standards and blanks are routinely entered into the drill core sample stream to monitor laboratory performance. Quality control samples submitted were returned within acceptable limits.