The Holly property straddles the regional Jocotan Fault which forms part of the Motagua Suture Zone, 400km long by up to 80km wide deformation zone that separates the North American and Caribbean plates. At Holly the Jocotan is mineralized and forms a distinct east-west trending ridge separating older metamorphosed sediments to the north and much younger volcanics to the south. We have discovered multiple high grade gold and silver occurrences along and crosscutting this portion of the Jocotan and have had success in the limited drilling that has been done on these targets thus far. An initial resource has been defined at Holly on La Pena vein, one of the North East veins that cuts across the Jocotan Fault.
Holly Project Highlights
- Low sulphidation gold silver epithermal system
- Multiple high-grade quartz veins intersecting wide mineralized Jocotan fault zone
- Located in eastern Guatemala in a terrain with world class gold-silver mines and deposits
- Key features of both Escobal and Cerro Blanco deposits
- High-grade gold-silver mineralization
- Surface results to 396 g/t gold and 7092 g/t silver
- 2002 drill results to 6.00 m @ 43.56 g/t gold and 1,618 g/t silver
- Ongoing drilling producing results to 4.58 m @ 79.84 g/t gold, 5,053 g/t silver
- A maiden Inferred Mineral Resource has been estimated for the first target, La Peña vein.
- The high grade La Peña vein remains open to expansion along strike and importantly at depth, where exceptionally high grade results have been returned.
- Multiple other drill targets remain un-tested at Holly with potential for new discoveries.
- Joint Venture with Radius Gold Inc.
- Holly is 60km by paved road to Bluestone’s planned processing plant.
La Peña Resource Model (June 2022)
Table 1: Holly, Peña Vein Resource Estimate
(Effective date 7th June, 2022)
CUT-OFF GRADE AUEQ² (G/T)
TONNES ABOVE CUTOFF (MILLIONS)
GOLD EQUIVALENT² (G/T)
GOLD EQUIVALENT² (OZ)
- Initial discoveries by Radius Geologists in 2002/3
- Several shallow drill programs conducted during next 36 months
- Extensive high-grade drill intercepts indicate potential. Weak gold market halts exploration
- No drilling on property package since 2006
- In 2007 Goldcorp makes Escobal world class silver discovery 20 km’s away
- Multiple targets open for expansion or are untested by drilling
All data presented in this webpage are considered historic by the Bruce Smith, MAIG and Volcanic’s NI43-101 Qualified Person. Datasets in company archives were verified by Mr Smith to ensure that drill intercepts or surface showings reported corresponded with data in the company databases. The integrity of the databases was verified for completeness and errors. The databases were periodically spot- checked against original paper assay certificates to verify accuracy. The QP, Mr Smith, found no serious errors in the databases.
A recent site visit was completed by Mr Smith MAIG QP between and 12th and 16th of March 2019. Bruce Smith visited the main outcrops, trenches and drill pads at both the Holly and Banderas projects. All descriptions in the above Summary match geologically with the field occurrences.
The drill collars in most locations were found to be well marked and still cemented in place. Co-coordinates matched the co-ordinates given in the data bases. The integrity of the databases was verified by Mr Smith for completeness and errors. The databases were periodically spot- checked against original paper assay certificates to verify accuracy. Mr Smith found no serious errors in the databases.
The geochemical analysis presented in this website for both surface sampling and drilling are deemed by the Mr Smith to be reliable given the historic nature. Mr Smith has worked with the key personnel responsible for the majority of drilling, sampling and geological work at Holly and Banderas at many other projects over 20 years and continues to work with the same team today. The team are a mixture of well trained professional Guatemalan and international geologists who follow best current practice in mineral exploration. The sampling procedures and certified analyzing laboratories are well known to the author. Mr Smith checked for routinely inserted multi-element geochemical standards, duplicates and blanks into the sample database monitoring laboratories performance. Quality control samples submitted were returned within acceptable limits.
DRILLING AND SAMPLING
The locations of the majority of historic drill collars were resurveyed in 2011, and the Mr Smith has personally verified the existence and location of many of these. All historic drill core is stored in Guatemala at a secure facility and the Mr Smith has verified and the majority of the major mineralized intercepts and correlated these with historic drill logs (when available) and assays.
In some cases, data on QA/QC programs is incomplete or no longer exist within the datasets or in thecompany archives and theauthor could not independently verify these programs or the effectiveness there of. It is clear, however , that QA/QC procedures have been in place on the Project since its beginnings, and the author has verified with past project QPs that effective QA/QC procedures were maintained, including the regular insertion of reference materials, blanks, and field duplicates. In addition, continuity has been maintained with Radius’ Guatemalan staff since the Project’s inception, ensuring consistency of drilling, sampling, and logging procedures on site.
The most recent drillingprogram on the Property was undertaken in 2010–2011 by Radius. For this program, reference materials, blanks, and duplicate samples accounted for 12% of the total number of samples submitted.
Mr Smith is satisfied that sampling and drilling undertaken by Radius’s local staff, Project optionees, and under the supervision of various QPs over have been performed to industry- accepted professional standards and, the author considers the data presented in the above Summary to be reliable.