Holly and Banderas
Volcanic has aquired an option on a large land position in Eastern Quatemala from Radius Gold.
- World class gold silver terrain
- Compelling projects
- Huge regional land position
- Multiple high grade targets
- 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
- Started drilling again on property package in April 28, 2021, before that no drilling 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
240,000 Hectare Land Position
- 10,000 data point proprietary geochemical data base
- Large number of anomalies never followed up
- Potential for new discoveries
Terms of Guatemala option
The Company has acquired an option on a large land position in Eastern Guatemala from Radius Gold Inc.
Volcanic can earn a 60% interest in the Holly and the Banderas projects by spending the cumulative amount of US$7.0 million on exploration of the Properties within 48 months from the date of the agreement.
An initial US$1M must be spent on exploration within the 12 months of receiving the required drill permits, which expenditure will include a minimum 3,000m of drilling on the properties.
Following the exercise of the Option, Volcanic will enter into a standard 60/40 Joint Venture in order to further develop the Properties.
Volcanic has also been granted an exclusive right to evaluate all other property interests of Radius in Guatemala with a right to acquire an interest in any or all other such properties on reasonable terms.
Volcanic is actively looking for new projects, with a focus on discovering multi-million ounce gold resources in underexplored countries. If you have an interesting project to submit, please contact us by email: firstname.lastname@example.org