Volcanic Gold Mines Inc. has secured a right of first offer and right of first refusal to acquire an interest in the fully permitted Los Angeles antimony mine in Palencia, Guatemala, from private operator Compania Minerales de Guatemala, S.A.

Under the agreement, Volcanic is providing geological and sampling support for a 1,000-metre exploratory drill program designed to expand the small-scale open-pit operation. Systematic channel sampling across the 200-metre open-pit face returned average grades of 5.0% antimony and 17.1 grams per tonne silver across a 1.6-metre width. Oxide zone channel sampling averaged 6.1% antimony and 17.5 grams per tonne silver, while the sulphide zone returned an average of 4.1% antimony and 16.8 grams per tonne silver. Individual channels reached grades as high as 17.8% antimony with 68.7 grams per tonne silver.

Eleven diamond drill holes totalling 1,041 metres have been completed at the property. Five holes successfully intercepted antimony mineralization, including a deeper zone extending 300 metres along strike of the current pit that remains open in multiple directions. Volcanic is currently awaiting assay results from these completed holes.

The Los Angeles property covers a 12-square-kilometre exploitation licence, alongside a pending 9.5-square-kilometre extension, located approximately 40 kilometres east of Guatemala City. Current open-pit extraction has reached its practical limit with existing equipment, creating an opportunity for operational expansion through additional investment in exploration, mining, and processing.

Volcanic holds an active portfolio of projects in Guatemala, which includes the Holly-Banderas advanced exploration project and the Sansare Grulla early-stage project.

Read the full announcement: Volcanic Gold Mines secures First Right of Refusal on Guatemalan Antimony Mine and advances mine owner's drilling