VLMZF - Volcanic extends Pyramid Hill and Zapote vein systems

(TheNewswire)

March 2, 2021 – TheNewswire - Vancouver, British Columbia – VolcanicG old Mines Inc. (TSXV:VG) is pleased to announceresults from its continuing exploration program being conducted on theBanderas Project in Eastern Guatemala.

Exploration Highlights:

• - Pyramid Hill vein systems extended for over 1,800meters along strike. Mapping and sampling defined a NW/SE broad zoneof stockwork and brecciation hosting multiple quartz veins of up to 3mwidth with both shallow and vertical dips. Rock chip and sub cropsampling returned grades up to 6.2 grams per tonne ("g/t")Au and 273 g/t Ag.

• - Zapote mineralization identified 1,500m along striketo the southeast beyond extensive cover, returning up to 2.7 g/t Auand 14.7 g/t Ag from surface vein outcrop sampling. Zapote zone nowmapped along a 3,100m strike length.

The Banderas property is located in eastern Guatemala,35km north of Bluestone’s Cerro Blanco gold deposit and 7 km southof Volcanic’s Holly Property (see release Feb 9,2021 ). Pre vious work on theBanderas property has identified two extensive gold/silver bearingvein systems, the Pyramid Hill and the Zapote Zones.

The Pyramid Hill zone consists of two northwest trending sub-parallelvein zones located approximately 500m apart, called the Pyramid Hill(“PH”) and the “M28” zones. Each zone hosts several 1- to5-meter-wide quartz veins.  At the PH zone, the veins dip steeply tothe northeast and are surrounded by a prominent alteration zone withan approximate 20m wide zone of stockwork veining and brecciation, andat M28, the veins dip shallowly to the west.

Recent mapping has extended both vein systems by 1.5km to thesoutheast, extending them both to nearly 3.5km in length. Initialresults received from 96 samples submitted for analysis in December,returning grades up to 6.2 g/t Au and 273 g/t Ag; significant resultsare summarized in table 1 below:

Table 1: Initial sample results Banderas and Zapote prospects

Figure 1:  BanderasProspect Au rock samples

Click Image To View Full Size

Figure 2:  Banderasprospect Ag rock samples

Click Image To View Full Size

Historically, over 40 shallow drill-holes have explored the PH and M28systems and returned broad zones of low-grade gold/silvermineralization in both mineralized corridors including:

*AuEq calculated using a 75:1 Ag to Au ratio

Simon Ridgway, Volcanic’ s CEO stated, "The results of therecently completed mapping and sampling program have extended the PHand M28 vein systems by a further 1km to the southeast beyond thehistoric drilling.  Of note, the zones appear to be trending togetherand importantly we are starting to see elevated mercury, arsenic andantimony indicating that the historic drilling appears to haveexplored the upper part of the epithermal system above the potentialbonanza gold-silver zone. These new anomalies represent significantpotential for discovery at Pyramid Hill. We are also very excitedabout the Zapote system, where a robust 1.5km long epithermal systemhas been outlined and which is completely undrilled. Drill permitshave been submitted to the Ministry of Environment and NaturalResources for these targets and we are optimistic that we will be ableto test them later in the year following the completion of thedrilling at the Holly Project.”

Long sections of previous drilling and surface sampling at PH and M28can be found on the Volcanic Gold website.

The Zapote Zone is located 1,500m to the west of the Pyramid Hill zoneon the opposite side of a large Dacitic Dome that creates a broadbarren area. The mineralized zone at Zapote lies at the contact of theDacite flow rocks and the intruded Andesite/Rhyolite host rocks.Historic rock chip sampling over an area 150m wide along 800m of thiscontact has returned strongly anomalous gold/silver mineralization. Atthe southeast end the zone disappears under an extensive area of largeDacite boulders.  This target has never been drill tested.

Recent sampling has picked up the trend 850m to the southeast,directly on strike with the original Zapote trend. A group of 38samples were collected from the Zapote South vein system  extendingit 1.5km to the southeast, returning values up to 2.7 g/t Au and 14.7g/t Ag

Follow-up Exploration

A geophysics program is being planned to be conducted in March andApril to help guide proposed drill programs for both the Pyramid Hilland the Zapote mineralized systems. Volcanic’s geologists havecollected a further 484 samples from these target areas and theresults are pending.

Technical Information

The technical contents of this press release have beenreviewed by Matthew Booth, a Qualified Person for the purposes of NI43-101. Mr. Booth has over 17 years of mineral exploration experienceand is a Qualified Person member of the American Institute ofProfessional Geologists (CPG 12044).

About Volcanic

Volcanic brings together an experienced and successful mining,exploration and capital markets team focused on buildingmulti-million -ounce gold and silver resources inunderexplored countries.  Through the strategic acquisition ofmineral properties with demonstrated potential for hosting gold andsilver resources, and by undertaking effective exploration and drillprograms, 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

Neither the TSX Venture Exchange nor the InvestmentIndustry Regulatory Organization of Canada accepts responsibility forthe adequacy or accuracy of this release.

Forward-looking statements

Certain statements contained in this news releaseconstitute forward-looking statements within the meaning of Canadiansecurities legislation. All statements includedherein, other than statements of historical fact, are forward- lookingstatements and include, without limitation, statements about theCompany’s plans for exploration work in Guatemala. Often, but notalways, these forward looking statements can be identified by the useof words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”,“gain”, “upgraded”, “offset”, “limited”,“contained”, “reflecting”, “containing”, “remaining”,“to be”, “periodically”, or statements that events,“could” or “should” occur or be achieved and similarexpressions, including negative variations.

Forward-looking statements involve known and unknownrisks, uncertainties and other factors which may cause theactual results, performance or achievements of the Company to be materially different from any results, performance or achievementsexpressed or implied by forward-looking statements. Such uncertaintiesand factors include, among others, whether the Company’s plannedexploration work will be proceed as intended; changes in generaleconomic conditions and financial markets; the Company or any jointventure partner not having the financial ability to meet itsexploration and development goals; risks associated with the resultsof exploration and development activities, estimation of mineralresources and the geology, grade and continuity of mineral deposits;unanticipated costs and expenses; and such other risks detailed from time to time in the Company’s quarterly and annual filings with securities regulators andavailable under the Company’s profile on SEDAR at www.sedar.com. Although the Companyhas attempted to identify important factors that could cause actualactions, events or results to differ materially from those describedin forward-looking statements, there may be other factors that causeactions, events or results to differ from those anticipated, estimatedor intended.

Forward-looking statements contained herein are basedon the assumptions, beliefs, expectations and opinions ofmanagement, including but not limited to: that the Company’s stated goals and planned exploration and development activities will be achieved; that there will be no material adverse change affecting the Company or its properties; and such other assumptionsas set out herein. Forward-looking statements are made as of the datehereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events orresults or otherwise, except as required by law. There can be noassurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors shouldnot place undue reliance on forward-looking statements.

Copyright (c) 2021 TheNewswire - All rights reserved.