- Business
- Volcanic Gold Mines Inc. Volcanic Gold Mines Inc. engages in the acquisition, exploration, and evaluation of mineral properties focused on developing multi-million-ounce gold and silver resources in underexplored regions; it holds a 60% interest in the Holly and Motagua Norte gold-silver projects in eastern Guatemala through a joint venture with Radius Gold Inc. The Holly project features an advanced-stage, high-grade epithermal gold-silver deposit on the La Peña vein with an inferred mineral resource of 410,000 ounces gold equivalent at 9.6 g/t AuEq, open in all directions, and demonstrates underground mine potential along the Jocotan Fault zone; the Motagua Norte project encompasses a bonanza-grade orogenic gold-silver quartz vein system, including the Mila anomaly, across over 86 square kilometers with first-pass exploration drilling completed in the first half of 2024. Founded in 2007 and headquartered in Vancouver, Canada, the company formerly known as Volcanic Metals Corp. changed its name in January 2017 and operates primarily in the precious metals mining sector targeting epithermal and orogenic systems in Guatemala, sharing holding costs 60/40 with its partner pending regional mining advancements near the Cerro Blanco and Escobal deposits. In recent developments, Volcanic fulfilled its modified option agreement with Radius Gold in August 2024 by completing US$7 million in exploration expenditures, earning its 60% stake after swapping the Banderas project for Motagua Norte in September 2023; exploration at Holly paused amid regional delays but restarted preparations in March 2025 to expand the high-grade resource, supported by a $1.5 million non-brokered financing announced in May 2025.