Drill Results
Volcanic Gold halts mining at Holly amid "resistance"
VG · Price
Executive Summary
- Volcanic Gold Mines Inc. is postponing the planned restart of drilling at its Holly property in Guatemala due to community resistance and local opposition.
- The company remains fully permitted and has landowner agreements, but will wait for a more favorable social environment before proceeding.
- Previous drilling (2021‑2022) defined an inferred resource of 1.32 Mt @ 6.46 g/t Au and 256 g/t Ag; further drilling was intended to expand depth/strike and improve confidence.
Key Details
- Delay Reason: Ongoing resistance from local communities and municipal councils; company prioritizes safety and seeks majority support before resuming work.
- Current Status: All necessary permits and landowner agreements are in place; no regulatory barrier to drilling, but social license is pending.
- Previous Results: 2021‑2022 campaign produced an inferred mineral resource of 1.32 Mt at 6.46 g/t Au and 256 g/t Ag.
- Planned Work (now delayed): Extend depth and strike extent of the northwest‑trending epithermal veins, tighten drill spacing to upgrade resource confidence.
- Management Statement: CEO Simon Ridgway emphasized commitment to community engagement, safety of residents and personnel, and continuation of discussions with local authorities.
- Future Outlook: Company will continue dialogue with the community, monitor developments at nearby Cerro Blanco gold project, and evaluate other regional opportunities.
Notable Quotes
“The safety of local residents and our personnel is of the utmost importance, we cannot with good conscience restart work at this time.” – Simon Ridgway, President & CEO, Volcanic Gold Mines Inc.