VG:CC - Volcanic updates on progress at Holly Property and other developments in Guatemala
(TheNewswire)
Shares issued 45,543,710 VG
Close - C$0.355
W/C +$7.5 Million cash
Vancouver, British Columbia – TheNewswire - Volcanic Gold Mines Inc.(TSXV:VG) (“Volcanic” or “the Company”) is pleased to reporton the progress made at the Holly Property.
Government Progress
The Presidential Commission for Peace and Human Rightsheld the first coordination meetings with institutions and authoritiesat the national, departmental, and municipal levels during the pastfew weeks regarding the incidents that took place at the Hollyproperty on February 23rd of this year.
From these meetings it is clear that the Centralgovernment and Departmental government of Chiquimula support the Hollyproject and will work with Volcanic to regain the social licence. Volcanic looks forward to a resolution of the issues and a resumptionof work at the project and corresponding news flow.
Holly Project Gold Discovery and NewExploration Opportunities
The gold and silver discovery we have made at Holly issignificant. It is a high-grade vein deposit that could be mined fromunderground, causing very little surface disruption. It will notrequire a processing plant as in the near future there will likely betwo mills in operation within trucking distance. We are in theprocess of concluding an inferred resource calculation and from thatwe will generate an approximate value of the deposit that has beendiscovered to date. Further, the deposit is open in all directions. We will continue to move forward at a pace that will protect theinvestment we have made and the value we have created.
Elsewhere in the country the Company is activelyreviewing the land position it optioned when we signed the agreementwith Radius Gold Inc on June 1 st 2020. Several of the areas have been reviewed, some have been rejected andthe concession applications cancelled. To date, three have shownsignificant promise and the Company is going through the process ofgetting these concessions granted. There are many more areas toreview and the work is ongoing.
ESG and CSR Responsibilities
Wherever we work, we make it clear to the localpopulation the work we do, the goal of our work and significance if weare successful (i.e. the development of a mine could follow, and thepositive and negative implications of that). We then focus on areaswhere the local population is in favor of exploration work and wherethere is a consensus that long term employment is needed in thecommunity. Then we get to work and evaluate the potential of thatparticular area. Occasionally when area community is clearly not infavor of mining, we inform our partner, Radius Gold Inc., drop theapplication and move on.
We have all read about the caravans of young men,women, and families that are leaving their homes to travel thousandsof miles overland. They are taking those risks to get to theMexico/US border with the aim of entering the US in search of work forsome stability in their family’s future. Why some anti-mining andanti-development organizations collaborate to prevent the developmentof natural resources in Central America, mostlywith misinformation, is difficult to understand. It generates conflictin the area by funding aggressive anti-mining and anti-developmentgroups that conflict with the people who want work and the influx ofvital capital to the region.
In all elements of its exploration and businessactivities, Volcanic conducts itself with integrity and transparency. Sustainability, truth, social responsibility, health and safety, andeconomic stability are prioritized. Volcanic is proud of the strongrelationships formed with local communities and government entities. We strive to create employment and better quality of life for all weencounter. Shareholders and employees alike can depend on Volcanicto take its responsibilities seriously as we strive to produce lastingpositive impacts for today and future generations.
Volcanic brings together an experienced and successfulmining, exploration and capital markets team focused on building multi-million -ounce gold and silver resources in underexplored countries. Through the strategic acquisition of mineral properties withdemonstrated potential for hosting gold and silver resources, and byundertaking effective exploration and drill programs, Volcanic intendsto 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 of management, 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) 2022 TheNewswire - All rights reserved.