Drills 14.8m @ 3.96 g/t Gold And 1,097 g/t Silver At Holly Project
Volcanic Gold Mines Inc. (TSXV:VG) (OTCVLMZF) has intersected high-grade gold and silver while drilling into the La Peña vein at the Holly Project in Guatemala.
Hole HDD-21-004 at La Peña vein intersected 14.8m at 3.96 g/t Au and 1,097 g/t Ag. This is the deepest intercept on the La Pena vein system to date with silver grades increasing with each step down.
Additionally, below the La Peña vein drill hole 4 cut a zone of disseminated silver mineralization grading 378 g/t Ag over 9.15m within the footwall of the vein.
This silver mineralisation was finely disseminated in altered volcanic rocks without significant veining. The overall silver interval with La Peña vein and footwall disseminated silver mineralization returned 34.6m at 574 g/t Ag. The hole stopped a few metres after the disseminated silver interval, with the final meters not assayed.
President and CEO, Simon Ridgway, said this new style of silver-only disseminated mineralisation was not previously recognised on the property. Holly has a multi-phase mineralising system with silver/gold ratios from 1-to-1 to 1,000-to-1 indicating multiple mineralising pulses. As well, new veins are being intersected in the drilling unmapped at surface, with some exhibiting visible gold and ginguro banded sulphides in the core.
“It is great to see La Peña vein developing as a robust gold/silver system. We are currently drilling hole HDD-21-021, stepping out along strike of La Peña vein which does not appear to be a narrow shoot,” Mr Ridgway said.
“Assays received from holes HDD-21-005 / 006 / 007 / 008, which targeted the El Pino vein system, cut weaker mineralisation. However, the El Pino vein zone is exposed over 100m higher than La Peña, so it may warrant more work.
The next assays due to be received and reported are from holes HDD-21-009 through Hdd-21-012 which tested the Alpha vein zone over a 450m strike system.
Mr Ridgway said drilling appears to have intersected a robust vein and breccia with good visible banded sulphides. Currently the drill rig is back on the La Peña vein stepping out on strike and down dip.
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