Shallow RC drilling at the WAMA property returns intervals of 4m @ 30.57 g/t Au, 3m @ 19.39 g/t Au, 11m @ 3.16g/t Au, and 1m @ 76.5 g/t Au within mineralized vein system, identifies surrounding anomalies
200 Burrard Street, Suite 650 Tel: 604.801.5432
Vancouver, BC V6C 3L6 Fax: 604.662.8829
TSX-V: VG
NEWS RELEASE
Shallow RC drilling at the WAMA property returns intervals of 4m @ 30.57 g/t
Au, 3m @ 19.39 g/t Au, 11m @ 3.16g/t Au, and 1m @ 76.5 g/t Au within
mineralized vein system, identifies surrounding anomalies
September 18, 2017 – Vancouver, British Columbia – Volcanic Gold Mines Inc. (“Volcanic”) (TSXV: VG)
reports highlights of exploration drilling at lands optioned from West African Mining Associates SARL
(“WAMA”) in Guinea. To date, a total of almost 1,3 00m of reverse-circulation (“RC”), and over 4,000m of
air-core drilling, have been completed at the WAMA property . Drilling took place within, and in the
immediate surroundings of an area of historic drilling and artisanal gold workings at Farabako rou, as
announced on April 18, 2017. RC drilling by Volcanic confirms the presence of vein -hosted mineralized
intervals proximal to those returned by WAMA.
Highlights of the RC 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)
17WRC128 71 72 1 76.50
102 103 1 3.18
17WRC129 2 5 3 19.39
45 49 4 30.57
17WRC131 40 42 2 1.38
48 59 11 3.16
86 97 11 0.91
105 106 1 2.54
17WRC132 24 27 3 1.81
30 33 3 2.24
52 53 1 4.90
17WRC133 96 97 1 6.00
99 100 1 6.90
17WRC134 4 5 1 10.10
66 69 3 3.12
17WRC135 87 88 1 2.64
17WRC136 72 78 6 1.66
101 109 8 1.00
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While Volcanic is encouraged by the results of this program and the mineralized potential that these
represent, the historic drilling intervals reported by WAMA could not themselves be reproduced. As such,
Volcanic is not in a position to proceed with the acquisition of the property on the basis of the option terms
announced on April 18, 2017. Volcanic and WAMA are in discussions with respect to a revised transaction
via which Volcanic would have the option to acquire a majority interest in the property t hrough direct
exploration expenditures, thereby reducing or el iminating shareholder dilution. Volcanic views this revised
approach as being more appropriate to the stage of exploration of the property and market context, and
moreover, remains highly encouraged by the proceptivity of its principal landholding, the Mandiana Project.
Air-core drilling beyond the original footprint of WAMA’s historic drilling reveals the existence of linear
mineralized features over strike lengths of up to 1.5km (Figure 1). These are thought to represent the surface
expression of underlying vein structures typical of the Siguiri Basin. Field mapping and interpretation of
high resolution satellite imagery (Figure 2) has identified widespread evidence of artisanal gold mi ning
activity, which elsewhere is known to indicate close proximity to bedrock gold mineralization. Such
artisanal gold mining activity is seen to project immediately southwards of a linear zone of artisanal
workings 6.3km in length and up to 550m in widt h at Tadibakourou (announced on July 26, 2017), at which
coarse gold has been recovered from numerous shallow pits and shafts. The workings identified on the
WAMA property suggest a potential continuation of this feature.
Further results will be reported shortly of drilling at Volcanic’s Yagbelen target at Mandiana, where f ield
work remains ongoing.
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 t he 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.
For further information, contact Alex Langer, the Company’s VP Capital Markets, at 604-765-1604, or visit
our website at www.volgold.com.
Volcanic Gold Mines Inc.
Jeremy Crozier, President and CEO
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts
responsibility for the adequacy or accuracy of this release.
Forward-looking statements
Certain statements contained in this news release constitute forward- looking statements within the meaning of
Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward -
looking statements and include, without limitation, statements about the Company’s plans for the WAMA and Mandiana
Projects. Often, but not always, these forward looking statements can be identified by the use of words such as
“estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”,
“has been”, “gain”, “upgraded”, “offset ”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”,
“periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including
negative variations.
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Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be materially different from any results, performance or
achievements expressed or implied by forward- looking statements. Such uncertainties and factors include, among
others, whether the Company will negotiate a new agreement with WAMA and whether the Company’s exploration
work on the Mandiana Project will continue as planned ; changes in general economic conditions and financial
markets; t he Company or any joint venture partner not having the financial ability to meet its exploration and
development goals; risks associated with the results of exploration and development activities, est imation of mineral
resources and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other
risks detailed from time to time in the Company’s quarterly and annual filings with securities regulators and available
under the Company’s profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important
factors that could cause actual actions, events or results to differ materially from those described in forward- looking
statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or
intended.
Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of
management, including but not limited to: that the Company will negotiate a new agreement with WAMA; that the
Company’s exploration work on the Mandiana Project will continue as planned; that the Company’s stated goals and
planned exploration and development activities will be achieved; that there will be no material adverse change
affecting the Company or its properties; and such other assumptions as set out herein. Forward -looking statements are
made as of the date hereof and the Company disclaims any obligation to update any forward- looking statements,
whether as a result of new information, future events or results or otherwise, except as required by law. There can be
no assurance that forward- looking statements will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, investors should not place undue relianc e on
forward-looking statements.
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Figure 1: Drilling results from Farabakorou.
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Figure 2: Distribution of artisanal workings on the WAMA property.