VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 12, 2017) - Volcanic Gold Mines Inc. ("Volcanic") (TSX VENTURE:VG) is pleased to report further results of close-spaced air core ("AC") drilling at its Mandiana Project in Guinea. The drilling, immediately adjacent to Volcanic's existing Inferred Mineral Resource ("Resource") at Yagbelen (as reported on November 6, 2016), now shows the mineralized target area surrounding and along strike from the Resource to be over 3km in length, up to 500m in width and consisting of multiple parallel zones, as shown in red on Figures 1 and 2. This mineralized area is considerably larger than the surface projection of the Resource (1km by up to 200m; shown in magenta on Figure 1), thereby indicating the potential to significantly increase this Resource. Note that the maximum downhole depth from collar of AC drilling is 40m for the entire Yagbelen program. AC results therefore likely represent the surface expression of underlying mineralization.
Figure 1: Air-core drilling results showing distribution of resource targets (outlined in black) relative to the Resource (in magenta).
Figure 2: Air-core drilling results (outlined in black) from southern extension to Yagbelen showing
1.25 km southward continuation of resource target.
Highlights of the AC drilling program are as follows:
| Hole | From (meters) |
To (meters) |
Interval (meters) |
Gold Grade (g/t) (at a cut-off grade of 0.5 g/t Au) |
| 17YAC0030 | 24 | 28 | 4 | 2.27 |
| 17YAC0076 | 8 | 28 | 20 | 6.43 |
| 17YAC0088 | 20 | 24 | 4 | 2.08 |
| 17YAC0095 | 8 | 20 | 12 | 1.67 |
| 17YAC0133 | 36 | 40 | 4 | 10.4 |
| 17YAC0153 | 12 | 16 | 4 | 2.25 |
| 17YAC0184 | 0 | 12 | 12 | 6.34 |
| 17YAC0205 | 28 | 32 | 4 | 3.14 |
| 17YAC0244 | 32 | 36 | 4 | 1.92 |
Air core drilling is a technique that allows rapid, low-cost exploration beneath cover with the objective of providing targeting information for further mineralization. It has been used very effectively by Volcanic in the identification and refinement of resource targets for subsequent reverse circulation ("RC") and diamond drilling. Volcanic's near-term plan is to conduct such drilling within the target area identified by air core drilling, with the objective of defining an expanded resource.
Quality Assurance and Quality Control
Drill chip sampling at Mandiana followed a standardized protocol to ensure the collection of representative and unbiased quantities of material from each sample. Samples were collected from Volcanic's Mandiana field operations by SGS Mineral Services of Bamako, Mali, and were transported directly to the assay facilities thereof, at which they were analysed for gold by means of fire assay, in accordance with analytical method FAA505. In this procedure, a 50g sample is fused with a litharge based flux; the resulting prill is then dissolved in aqua regia, from which gold content is then determined by flame AAS at a detection Limit 0.01 ppm. Volcanic routinely inserted appropriate standards and blanks into its sample stream at Mandiana, and additionally collected regular field duplicate samples.
Qualified Person
Mr. Simon Meadows-Smith is a Qualified Person as defined by "National Instrument 43-101 - Standards of Disclosure for Mineral Projects" and has approved the disclosure of the scientific and technical information contained in this news release. Mr. Meadows-Smith holds a BSc degree in geology from Nottingham University, England, and has been involved in mineral exploration since 1988, including 20 years of experience working in West Africa. He is a Fellow in good standing of the Institute of Materials, Minerals & Mining in London.
About Volcanic
Volcanic brings together a deeply experienced and successful mining, exploration and capital markets team focused on building a multi-million ounce gold resource in the underexplored West African country of Guinea and its neighbouring countries. Through the strategic acquisition of mineral properties with demonstrated potential for hosting gold resources, and by undertaking effective exploration and drill programs, Volcanic is seeking to become a leading junior gold resource company.
