Volcanic Gold Mines (VG.V) has now already completed 18,000 meter of drilling (3,000m RC and diamond drilling, 15,000 meter aircore drilling) on its gold projects in Guinea and the assay results of the first (infill) holes were finally released from the lab.
These infill drill results went a long way in confirming the existing mineralization and with 11 meters at 2.08 g/t gold followed by 23 meters at 2.21 g/t gold further down hole, 5 meters at 2.68 g/t gold and an impressive 68 meters at 2.01 g/t gold (including several narrower high-grade intercepts), Volcanic was definitely able to chase the known gold mineralization. Not only was the company able to confirm the gold values, it also learned the mineralization seems to occur in bedded sandstone units as this seemed to be a common denominator throughout all assay results.
This will allow Volcanic to design its next exploration programs to focus on these sandstone zones, and the (cheap) aircore drilling will be a great help in defining priority zones to expand the current resources. The initial aircore drill results (which haven’t been released yet) seem to have confirmed an additional strike potential of approximately one kilometer at the current Yagbelen resource (500 meters towards the north and south) and this will obviously go a long way to reach the ‘magic’ 1 million ounce mark.
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The author has a long position in Volcanic Gold Mines. Please read the disclaimer
