Connect with us

Today’s News

Tocvan Announces Change to Executive Management Team, Transitions Leadership Towards Development Focus

Calgary, Alberta – TheNewswire – January 14, 2022 Tocvan Ventures Corp. (the “Company”) (CSE:TOC) (CNSX:TOC.CN) (OTC:TCVNF) (WKN:TV3/A2PE64), announces…

Published

on

Calgary, Alberta – TheNewswireJanuary 14, 2022 Tocvan Ventures Corp. (the “Company”) (CSE:TOC) (CNSX:TOC.CN) (OTC:TCVNF) (WKN:TV3/A2PE64), announces strategic changes to executive management as it proactively looks towards the advancement of its core gold-silver assets in Sonora, Mexico. Mr. Brodie A. Sutherland, VP Exploration will replace co-founder, Mr. Derek A. Wood as President, CEO and Corporate Secretary. Mr. Wood will remain a director and strategic advisor of the Company. The changes will better align with technical and professional expertise required as projects advance towards development.

“On behalf of the Company we would like to thank Derek for his hard work and dedication to Tocvan from inception.” commented, Brodie A. Sutherland. “Derek will remain an important advisor to the board while our focus remains on the advancement of our two quality gold-silver assets in Sonora, Mexico.”

Website Update

The Company also announces its new website has gone live at: (tocvan.com). We thank our shareholders for their patience while updates were made.   

AGM Update

The Company has postponed the scheduled AGM to a later date due to the COVID-19 global pandemic and resulting delays obtaining court and shareholder approval of the Cascade Copper spin-out transaction. The Company will provide a further update once a final date for the meeting can be set.

About the Sonora Portfolio

Pilar Property

The Pilar Gold-Silver property is interpreted as a structurally controlled low-sulphidation epithermal project hosted in andesite rocks. Three zones of mineralization have been identified in the north-west part of the property from historic surface work and drilling and are referred to as the Main Zone, North Hill and 4-Trench. Structural features and zones of mineralization within the structures follow an overall NW-SE trend of mineralization. Over 22,700 m of drilling have been completed to date. Significant results are highlighted below:

  • 2021 Phase II RC Drilling Highlights include (all lengths are drilled thicknesses): 

    • 39.7m @ 0.96 g/t Au, including 1.5m @ 14. g/t Au; 

    • 47.7m @ 0.70 g/t Au including 3m @ 5.6 g/t Au and 22 g/t Ag; 

    • 29m @ 0.71g/t Au; 

    • 35.1m @ 0.66 g/t Au 

  • 2020 Phase I RC Drilling Highlights include (all lengths are drilled thicknesses 

    • 94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag 

    • 41.2m @ 1.1 g/t Au, including 3.1m @ 6.0g/t Au and 12 g/t Ag; 

    • 24.4m @ 2.5 g/t Au and 73 g/t Ag, including 1.5m @ 33.4 g/t Au and 1,090 g/t Ag 

  • 17,700m of Historic Core RC drilling. Highlights include: 

    • 61.0m @ 0.8 g/t Au; 

    • 16.5m @ 53.5g/t Au and 53 g/t Ag;  

    • 13.0m @ 9.6 g/t Au;  

    • 9.0m @ 10.2 g/t Au and 46 g/t Ag  

Soil and Rock sampling results from undrilled areas indicate mineralization extends towards the southeast from the Main Zone and 4-Trench Zone. Recent Surface exploration has defined three new target areas: Triple Vein Zone, SE Vein Zone and 4 Trench Extension.

El Picacho Property

The El Picacho Gold-Silver property is interpreted as a orogenic gold system within the regional Caborca Orogenic Gold Belt known for producing gold mines that include La Herradura and San Francisco. The project is 140 kilometers north of Hermosillo and totals 2,414 hectares. Five primary zones of mineralization have been identified across the property totalling over six kilometers of prospective trends. Surface sampling has identified high-grade gold and silver values.  The five primary target areas are summarized below:

  • San Ramon 

    • 1.4 km prospective trend; 

    • Several historic mine workings associated with low angle faults; 

    • Historic Drill Highlights (Both were reconnaissance holes with no follow-up): 

      • (Drill hole PD-01) 7.6m @ 0.73 g/t Au, including 3.0m @ 1.37g/t Au 

      • (Drill hole RCP-02) 10.7m @ 0.67 g/t Au, including 4.6m @ 1.4 g/t Au 

    • Rock Sampling highlights: 

      • 22 g/t Au and 22 g/t Ag 

      • 16 g/t Au and 26 g/t Ag 

      • 14 g/t Au and 83 g/t Ag 

  • Cornea 

    • 2.3 km prospective trend; 

    • Historic mine workings up to 30-meters deep along shear-zones; 

    • Rock Sampling Highlights: 

      • 26 g/t Au and 340 g/t Ag 

      • 15 g/t Au and 66 g/t Ag 

      • 15 g/t Au and 29 g/t Ag 

  • Jabali 

    • 0.5 km prospective trend ; 

    • Historic mine workings among low-angle thrust faults; 

    • Rock Sampling Highlights 

      • 32 g/t Au 

      • 28 g/t Au and 10 g/t Ag 

  • El Puerto 

    • 1.2 km prospective trend ; 

    • Historic mine workings along vertical shear-zones hosted within a banded gneiss; 

    • Rock Sampling Highlights 

      • 8 g/t Au and 10 g/t Ag 

      • 6.5 g/t Au and 176 g/t Ag 

  • Tortuga 

    • 1.0 km prospective trend; 

    • Historic mine workings in Jurassic metasediments surrounded by mineralized biotite gneiss; 

    • Rock Chip Sampling Highlights 

      • 2m @ 4.4 g/t Au and 46 g/t Ag 

 

Brodie A. Sutherland, P.Geo., CEO for Tocvan Ventures Corp. and a qualified person (“QP”) as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.

 

About Tocvan Ventures Corp.

Tocvan is a well-structured exploration development company. Tocvan was created in order to take advantage of the prolonged downturn the junior mining exploration sector, by identifying and negotiating interest in opportunities where management feels they can build upon previous success. Tocvan has approximately 32 million shares outstanding and is earning into two exciting opportunities in Sonora, Mexico: the Pilar Gold-Silver project and the El Picacho Gold-Silver project. Management feels both projects represent tremendous opportunity to create shareholder value.

 

Cautionary Statement Regarding Forward Looking Statements

 

This news release contains “forward-looking information” which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Forward-looking information in this news release includes statements regarding the use of proceeds from the Offering. Such forward-looking information is often, but not always, identified by the use of words and phrases such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

 

These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves 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 future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to the speculative nature of the Company’s business, the Company’s formative stage of development and the Company’s financial position. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws.

 

There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

For more information, please contact:

TOCVAN VENTURES CORP.

Brodie A. Sutherland, President & CEO

950-736 6 Ave SW

Calgary, Alberta T2P 3T7

Telephone: 403-668-7855

Email: bsutherland@tocvan.ca

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Copyright (c) 2022 TheNewswire – All rights reserved.

drilling
drill hole
cse-toc
tocvan-ventures-corp
press-release

Author: Author

Today’s News

Lincoln Announces Passing of Director Shing Lee

VANCOUVER, BC / ACCESSWIRE / January 28, 2022 / Lincoln Gold Mining Inc. ("Lincoln" or the "Company") (TSXV:LMG) announces with great sadness the sudden…

VANCOUVER, BC / ACCESSWIRE / January 28, 2022 / Lincoln Gold Mining Inc. (“Lincoln” or the “Company”) (TSXV:LMG) announces with great sadness the sudden passing of Mr. Shing Lee, a director of Lincoln since 2019. In addition to his tenure with the Company, Mr. Lee was a prominent businessman in Hong Kong and Chief Executive Officer of Wuling Motors Holdings Ltd., a publicly listed automotive company in Hong Kong. His commitment, guidance and support will be greatly missed.

Paul Saxton, Chief Executive Officer of the Company commented: “We are deeply saddened by the news of Mr. Lee’s passing. He was a well-liked and much respected colleague and we will greatly miss his friendship, guidance and unwavering support. On behalf of the management and staff, we are grateful for all his contributions to the Company and extend our deepest condolences to his family, friends and colleagues during this incredibly difficult time”.

On behalf of Lincoln Gold Mining Inc.
Paul Saxton
President and CEO, Lincoln Gold Mining Inc.
Tel: (604) 688-7377
Email: saxton@lincolnmining.com

About Lincoln Gold Mining Inc.

Lincoln Gold Mining Inc. is an advanced-stage gold mine exploration and development company holding a 100% interest in the Pine Grove Gold Project, in the Walker Lane structural zone of western Nevada. The Company has prepared a preliminary economic assessment of the Pine Grove Gold Project pursuant to National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Lincoln is working with the United States Forest Service to secure the permits necessary to develop the property into a low-cost open pit heap leach operation including a high-grade gravity circuit.

Lincoln continues the development of exploration plans for the newly acquired Shawinigan property in Quebec to evaluate the copper, nickel, and cobalt opportunities at the site. The Company has recently expanded the area of exploration to approximately 50 square kilometers.

Lincoln also owns an interest in a joint venture in respect of the Oro Cruz Gold Property in California. Lincoln’s joint venture partner is advancing the Oro Cruz Gold Property towards further exploration, development, and production.

Lincoln holds its interests in the US projects through its wholly owned subsidiaries, Lincoln Resource Group Corp., and Lincoln Gold US Corporation, both Nevada corporations.

For more information, please contact Paul Saxton, President and CEO of the Company.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. All statements, other than statements of historical fact, included herein, including, without limitation, statements relating to the permitting process, future production of Pine Grove Gold Project, budget and timing estimates, the Company’s working capital and financing opportunities and statements regarding the exploration and mineralization potential of the Company’s properties, are forward-looking statements. Forward- looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Lincoln’s expectations include fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and native groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; and uncertainty as to timely availability of permits and other governmental approvals. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Lincoln does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward- looking statements.

SOURCE: Lincoln Gold Mining Inc.

View source version on accesswire.com:
https://www.accesswire.com/686209/Lincoln-Announces-Passing-of-Director-Shing-Lee






Continue Reading

Today’s News

Founders Metals Inc. Files Annual Audited Financial Statements for Revocation of MCTO

Vancouver, British Columbia–(Newsfile Corp. – January 28, 2022) – Founders Metals Inc. (TSXV: FDR) ("Founders" or the "Company") is pleased to confirm…

Vancouver, British Columbia–(Newsfile Corp. – January 28, 2022) – Founders Metals Inc. (TSXV: FDR) (“Founders” or the “Company”) is pleased to confirm that further to its news releases dated January 13, 2022 and December 30, 2021, it completed yesterday the filing of its audited annual financial statements, accompanying management discussion and analysis and related CEO and CFO certifications for the year ended August 31, 2021 (the “Annual Filings”) under its profile on SEDAR at www.sedar.com. As a consequence, it expects the Company’s management cease trade order in respect of the delayed Annual Filings (the “MCTO”) to be revoked by securities regulators in accordance with National Policy 12-203 – Cease Trade Orders for Continuous Disclosure Defaults after the end of the trading day later today.

About Founders Metals Inc.

Founders Metals Inc. is a Canadian exploration company focused on advancing the resource potential of the Elmtree Gold Project in northeastern New Brunswick. The road-accessible project consists of three expansion-ready gold deposits and numerous additional exploration targets. Founders is a member of the Metals Group of companies, an award-winning team of professionals who prioritize technical excellence, careful project selection, and uncompromising corporate governance. The team has a recognized ability to capitalize on investment opportunities and deliver shareholder returns.

For further information, please contact:

Nick Stajduhar, Director
Telephone: +1 (780) 701-3216
Email: [email protected]

FORWARD-LOOKING INFORMATION

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of the word, “will” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this news release contains forward-looking information relating to the anticipated date for filing the annual financial statements for the year ended August 31, 2021 and related management’s discussion and analysis.

Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. The Company cautions the reader that the above list of risk factors is not exhaustive. Those assumptions and factors are based on information currently available to the Company. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws, or as otherwise may be disclosed in this news release. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/112010





Author: Author

Continue Reading

Today’s News

S2 Announces Closing of Private Placement Financing

Toronto, Ontario–(Newsfile Corp. – January 28, 2022) – S2 Minerals Inc. (CSE: STWO) ("S2" or the "Company") announces that it has closed the previously-announced…

Toronto, Ontario–(Newsfile Corp. – January 28, 2022) – S2 Minerals Inc. (CSE: STWO) (“S2” or the “Company“) announces that it has closed the previously-announced non-brokered private placement (the “Offering“). In connection with the closing of the Offering (the “Closing“), the Company sold 12,000,000 units of the Company (the “Units“) at a price of $0.12 per Unit, for gross proceeds of $1,440,000. Each Unit consisted of one common share (“Share“) of the Company and one-half of a common share purchase warrant (“Warrant“). Each whole Warrant entitles the holder, on exercise, to purchase one Share for a period of two years following the closing date of the Offering at an exercise price of $0.25 per Share.

The proceeds from the Offering will be used for general corporate purposes. The securities issued pursuant to the Offering will be subject to a four-month hold period. The Offering is subject to final acceptance of the Canadian Securities Exchange (“CSE“).

Insiders of the Company subscribed for a total of 7,800,000 Units (being $936,000) of the Offering. The Offering is considered a “related party transaction” pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“) as a result of the insider participation. Pursuant to Sections 5.5(b) and 5.7(1)(b) of MI 61-101, the Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval because the Shares trade on the CSE and the fair market value of insiders’ participation in the Offering was for cash and was below $2,500,000. The Company will file a material change report in respect of the Offering, but it will be filed less than 21 days in advance of the Closing, which the Company deems reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and to complete the Offering in an expeditious manner.

Early Warning Disclosure

On January 28, 2022, in connection with the Closing, (i) S2’s Executive Chairman, Patrick Sheridan, and a joint actor entered into a subscription agreement pursuant to which they purchased 5,000,000 Units for an aggregate subscription price of $600,000, and an entity that is a joint actor of Mr. Sheridan entered into a subscription agreement pursuant to which that entity purchased 2,000,000 Units for an aggregate subscription price of $240,000, and (ii) an entity controlled by Dan Noone, S2’s CEO, entered into a subscription agreement pursuant to which that entity purchased 400,000 Units for an aggregate subscription price of $48,000.

Prior to the Closing, (i) Mr. Sheridan had ownership and control (together with one of his joint actors) over an aggregate of 8,697,421 Shares (which included the Shares acquired on May 18, 2021 on the exercise of rights issued by the Company, and represented approximately 34.4% of the then issued and outstanding Shares), and (ii) Mr. Noone had ownership and control over an aggregate of 1,123,772 Shares (which included the Shares acquired on May 18, 2021 on the exercise of rights issued by the Company, and represented approximately 4.44% of the then issued and outstanding Shares).

Following the Closing, (i) Mr. Sheridan has ownership and control (together with his joint actors) over an aggregate of 15,697,421 Shares (which represents approximately 42.1% of the issued and outstanding Shares) and 3,500,000 Warrants entitling him (and his joint actors) to acquire an additional 3,500,000 Shares (which represents approximately 47.0% of the Shares on a partially diluted basis), and (ii) Mr. Noone has ownership and control over an aggregate of 1,523,772 Shares (which represents approximately 4.1% of the issued and outstanding Shares) and 200,000 Warrants entitling him to acquire control over an additional 200,000 Shares (which represents approximately 4.6% of the Shares on a partially diluted basis).

The Shares and Warrants comprising the Units were acquired by each of Messrs. Sheridan and Noone for investment purposes. Depending on various factors including, without limitation, the Company’s financial position, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, the Company’s business or financial condition and other factors and conditions they deem appropriate, each of them may increase or decrease their beneficial ownership of Shares or other securities of the Company whether in the open market, by privately negotiated agreement or otherwise.

The Company is located at 141 Adelaide Street West, Suite 1101, Toronto, Ontario, M5H 3L5. A copy of the Early Warning Report for each of Messrs. Sheridan and Noone can be obtained by calling S2’s office (416.628.5904) or c/o 141 Adelaide Street West, Suite 1101, Toronto, Ontario, M5H 3L5 or on the Company’s SEDAR profile at www.sedar.com.

About S2 Minerals Inc.

S2 Minerals Inc. is a Canadian mineral exploration company and holds the Sandy Lake project in Ontario. The Sandy Lake project comprises approximately 167,000 acres of contiguous mineral claims in the Sandy Lake Archean Greenstone Belt, located approximately 140 miles north of Red Lake, Ontario. S2 beneficially holds a 100% interest in the mineral rights to approximately 137,000 acres, and holds a 50.1% interest in the approximately 15,000 acres of the “Weebigee Joint Venture” claims and a 50% interest in a further 15,000 acres of the Southern Block claims in joint ventures with Goldeye Explorations Limited, now part of Treasury Metals Inc. It is expected that over time, S2 may add new Canadian-focused exploration stage projects to its portfolio.

For further information please contact:

Dan Noone
CEO
+1.416.628.5904
Email: [email protected]

Forward-Looking Statements

This news release contains certain forward-looking statements, including, but not limited to, statements about the Offering, including final acceptance of the CSE and the proposed use of proceeds. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/112034







Author: Author

Continue Reading

Trending