# Volcanic Gold Mines commences drilling at the Mila Gold Discovery, Guatemala Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/volcanic-gold-mines-commences-drilling-at-the-mila-gold-discovery-guatemala--6ae83fce-437c-4996-8e22-529e8be7382b Original source: https://money.tmx.com/en/quote/VG/news/6603682921118171/volcanic-gold-mines-commences-drilling-at-the-mila-gold-discovery-guatemala Publisher: tmx Original announcement: 2024-02-15T12:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Volcanic Gold Mines Inc. - Ticker: VG - Exchange: TSX - Region: Guatemala - Primary commodity: Gold - Secondary commodities: Silver - Document categories: Drill results, Other - Extracted: 2026-09-19 04:56:18 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Volcanic Gold Mines has commenced a first-pass diamond drilling campaign at the Mila Gold Discovery in Guatemala. Surface sampling has revealed exceptional high-grade gold mineralization, including assays up to 692 g/t gold. Reasoning: The company has commenced drilling at a high-grade gold discovery with significant surface evidence of bonanza mineralization, though geological continuity is currently unproven. - Positive factor: High-grade surface rock chip assays \(up to 692 g/t Au\) - Positive factor: Commencement of first-pass diamond drilling campaign - Positive factor: Bonanza grade intercepts identified in surface sampling - Negative factor: Geological complexity due to boulder/colluvium cover makes modeling difficult Facts used in scoring: 4 ## Classification and evidence **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: Surface rock chip assays returned a maximum of 692 g/t gold. Evidence · text > maximum of 692 g/t gold **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The release names a Qualified Person \(Luc English\) and references NI 43-101 standards. Evidence · text > Luc English PhD, who is a Chartered Geologist and Fellow of the Geological Society of London, is the Company’s Qualified Person as defined by National Instrument 43-101 **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: The Mila prospect is part of the Motagua Norte Project and near the Cerro Blanco Gold Deposit. Evidence · text > 60km north of the Cerro Blanco Gold Deposit ## Extracted facts Stored fact records: 4. Some facts used in scoring do not have a stored record. ## Drill Results (4) ### Fact 1 [Link to this fact](https://atlas-extractions.minestarters.com/news/volcanic-gold-mines-commences-drilling-at-the-mila-gold-discovery-guatemala--6ae83fce-437c-4996-8e22-529e8be7382b#fact-drill-facts-0) gold #### Identity - Commodity: gold - Region: guatemala - Reported Region: guatemala - Ticker: VG #### Geometry - Grade: 692 - Grade Unit: g/t #### Classification - Sample Type: surface #### Location - Location: Mila Gold Discovery - Loc. Source: document #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2024-02-15T00:00:00.000Z Reasoning: Maximum grade reported from surface rock chip sampling. - Positive factor: Exceptional high-grade surface sample Evidence · text > maximum of 692 g/t gold #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 2 [Link to this fact](https://atlas-extractions.minestarters.com/news/volcanic-gold-mines-commences-drilling-at-the-mila-gold-discovery-guatemala--6ae83fce-437c-4996-8e22-529e8be7382b#fact-drill-facts-1) gold #### Identity - Commodity: gold - Region: guatemala - Reported Region: guatemala - Ticker: VG #### Geometry - Grade: 95 - Grade Unit: g/t - Intercept: 10 m #### Classification - Sample Type: surface #### Location - Location: Mila Gold Discovery - Loc. Source: document #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2024-02-15T00:00:00.000Z Reasoning: Average grade from continuous chip channel sampling across a 250m ridge. - Positive factor: Strong grade over significant width in surface structure Evidence · text > returned average grades of 95 g/t gold across a 10 m width #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 3 [Link to this fact](https://atlas-extractions.minestarters.com/news/volcanic-gold-mines-commences-drilling-at-the-mila-gold-discovery-guatemala--6ae83fce-437c-4996-8e22-529e8be7382b#fact-drill-facts-2) gold #### Identity - Commodity: gold - Region: guatemala - Reported Region: guatemala - Ticker: VG #### Geometry - Grade: 42 - Grade Unit: g/t - Intercept: 34 m #### Classification - Sample Type: surface #### Location - Location: Mila Gold Discovery - Loc. Source: document #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2024-02-15T00:00:00.000Z Reasoning: Average grade from 2m long chip channel samples. - Positive factor: Consistent high-grade mineralization in boulder field Evidence · text > returned average grades of 42 g/t gold along a 34 m line #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 4 [Link to this fact](https://atlas-extractions.minestarters.com/news/volcanic-gold-mines-commences-drilling-at-the-mila-gold-discovery-guatemala--6ae83fce-437c-4996-8e22-529e8be7382b#fact-drill-facts-3) gold #### Identity - Commodity: gold - Region: guatemala - Reported Region: guatemala - Ticker: VG #### Geometry - Grade: 54 - Grade Unit: g/t - Intercept: 24 m #### Classification - Sample Type: surface #### Location - Location: Mila Gold Discovery - Loc. Source: document #### QA/QC - QP Signed: Yes - QA/QC Methods: standards #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2024-02-15T00:00:00.000Z Reasoning: Average grade from 2m long chip channel samples. - Positive factor: Consistent high-grade mineralization in boulder field Evidence · text > and 54 g/t gold along a 24 m long line #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.