Volcanic Gold Mines – Update On Mineral Resource And Community Discussions At Holly Project And Progress On New Concessions Along The Motagua Gold Belt

Simon Ridgway, President and CEO of Volcanic Gold Mines (TSX.V:VG – OTC:VLMZF), joins us to outline the key takeaways from the news out July 27th, that the Company has filed on SEDAR a NI 43-101 technical report in support of the recently announced maiden Inferred Mineral Resource Estimate for the Holly property, Guatemala.   The maiden Inferred Mineral Resource Estimate of 406,316 oz at 9.57 g/t gold equivalent and was estimated using a 3.0 g/t Gold equivalent cut-off grade and a top cap grade of 100 g/t Gold and 2,000 g/t Silver and based on the 30 drill holes released after the Phase 1 exploration program.   The project is still very open for expansion at depth and along strike.


Simon is still very constructive on how things are developing at Holly Project where the community and government has reached out to Volcanic Gold to better understand the benefits to all stakeholders and he is on site at present with more roundtable discussions set up for next week.  Another positive we highlighted for this Holly Project is that a mill will not be needed with 2 nearby projects, Escobal and Cerro Blanco,  that will have mills in operations.  Both Pan American Silver and Bluestone are also seeing more positive community and government engagement over the last few months on their projects, that were previously stalled, so the sentiment is shifting more positively in Guatemala overall.


We wrap up by also reviewing that there are 3 more additional Projects under option and review from Radius mining, along the Motagua gold belt, and the company is seeing very impressive gold in soil anomalies and visible gold at surface at Motagua Norte, that will be a key focus to start trenching and drilling as the year progresses.    Simon is constructive that they’ll get things negotiated soon with Radius and the local stakeholders to get those concessions granted in the next month or so.


Please email us with any follow up questions for Simon on Volcanic Gold at either or

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    Simon did not mention the PEA of the initial resource, how come? Is it off? He has stated publicly in the past that they planned to do a small PEA to show locals the potential revenues of a the operation. Any update wrt. this would be appreciated.


      Aug 18, 2022 18:28 AM

      Joakim – Volcanic hasn’t done a PEA, as they’ve only done 1 year of drilling at Holly which was cut short due to the actions of an out-of-country activist group paying locals to vandalize the drill rig.

      Did you listen to this actual interview or the previous one we did with Simon? He refrenced the Resource Estimate after 1 year of drilling which was quite robust and encouraging after only 30 drill holes. There is no PEA yet, and rightly so as it is too early in the process of exploration for that.

      They are having discussions with the local stakeholders to map out how it would be an economic benefit to all parties – company, community, and local government.