VLMZF - Volcanic reports that Guatemala borders are open and international flights to the country will resume
(TheNewswire)
September 29,2020 - TheNewswire - Vancouver, British Columbia - Volcanic GoldMines Inc. (TSXV:VG) is pleased to confirm that Guatemala has re-opened its borders tointernational travel and Aurora International Airport is now open andreceiving international flights. In early March, Guatemala closed itsborders to international travel due to COVID-19 but now the focus isreviving the economy of the country.
In June this year,Volcanic signed an agreement with Radius Gold Inc. where Volcanicaquired an option on a very large and prospective land positioncovering a significant portion of the Volcanic Belt in easternGuatemala. The Volcanic Belt is host to the Escobal Silver Mine andthe high grade Cerro Blanco Gold deposit, which is under developmentby Bluestone Resources Inc.
Field work will start onOctober 1 st with local crews presentlymobilizing to the Holly-Banderas Project. The permitting process fordrilling is well underway and field crews are presently in the areadeveloping support from the communities and establishing protocolsthat will generate as much local employment as possible. Streamgeochemistry was completed over much of the area by Radius Gold,identifying a number of significant gold and silver anomalies forfollow-up. The job at hand is large, with over 300,000 hectares ofprospective terrain to explore.
Of immediate focus is tofollow up the discovery holes on the Holly target, which consists ofan east-west trending ridge paralleling the Jocotan fault system. Strong gold in soil and rock samples along 1,500 meters of Holly ridgedefine the target, where previous shallow drilling returned 3.6m @ 22g/t gold and 697 g/t silver, and 14m @ 4.1g/t gold and 150 g/t silver. A 5,000m drill program is planned for the Holly target. At theBanderas project, a geophysical program is being designed to betterdefine the targets.
With the financingannounced yesterday set to increase its already well-financedtreasury, the Company looks forward to advancing its Guatemalaassets.
About Volcanic
Volcanic brings together an experienced and successfulmining, exploration and capital markets team focused on buildingmulti-million ounce gold and silver resources in underexploredcountries. Through the strategic acquisition of mineral propertieswith demonstrated potential for hosting gold and silver resources, andby undertaking effective exploration and drill programs, Volcanicintends to become a leading gold-silver company.
For further information, visit our website at www.volgold.com .
Technical Information
Bruce Smith, M.Sc. (Geology), a member of theAustralian Institute of Geoscientists, is Radius's Qualified Person asdefined by National Instrument 43-101 - Standards of Disclosure forMineral Projects. Mr. Smith has prepared and approved the technicalinformation contained in this news release.
Volcanic Gold Mines Inc.
Charles Straw, Director/CEO
Neither the TSXVenture Exchange nor the Investment Industry Regulatory Organizationof Canada accepts responsibility for the adequacy or accuracy of thisrelease.
Certain statementscontained in this news release constitute forward-looking statementswithin the meaning of Canadian securities legislation. All statements includedherein, other than statements of historical fact, are forward-lookingstatements and include, without limitation, statements about theCompany's exploration plans and the proposed financing. Often, butnot always, these forward looking statements can be identified by theuse of 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 similar expressions,including negative variations.
Forward-lookingstatements involve known and unknown risks, uncertainties and otherfactors which may cause the actual results, performance orachievements of the Company to be materially different from anyresults, performance or achievements expressed or implied byforward-looking statements. Such uncertainties and factors include,among others, whether the Company's exploration plans will proceed asintended, and whether the proposed financing will becompleted ;changes in general economic conditions and financial markets;t he Companyor any joint venture partner not having the financial ability to meetits exploration and development goals; risks associated with theresults of exploration and development activities, estimation ofmineral resources and the geology, grade and continuity of mineraldeposits; unanticipated costs and expenses; and such other risksdetailed from time to time in the Company's quarterly and annualfilings with securities regulators and available under the Company'sprofile on SEDAR at www.sedar.com . Although the Company has attempted to identifyimportant factors that could cause actual actions, events or resultsto differ materially from those described in forward-lookingstatements, there may be other factors that cause actions, events orresults to differ from those anticipated, estimated orintended.
Forward-lookingstatements contained herein are based on the assumptions, beliefs,expectations and opinions of management, including but not limited to:that the Company's exploration plans will proceed as intended, andthat the proposed financing will be compeleted; that the Company'sstated goals and planned exploration and development activities willbe achieved; that there will be no material adverse change affectingthe Company or its properties; and such other assumptions as set outherein. Forward-looking statements are made as of the date hereof andthe Company disclaims any obligation to update any forward-lookingstatements, 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 thoseanticipated in such statements. Accordingly, investors should notplace undue reliance on forward-looking statements.
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