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Tocvan Announces Agreement with Millrock for El Picacho Project Sonora, Mexico

 

Adds to Portfolio with Project in Caborca Orogenic Gold Belt

  

Calgary, Alberta – TheNewswire – June 8, 2021. Tocvan Ventures Corp. (CSE:TOC)…

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Adds to Portfolio with Project in Caborca Orogenic Gold Belt

  

Calgary, Alberta – TheNewswireJune 8, 2021. Tocvan Ventures Corp. (CSE:TOC) (CNSX:TOC.CN)  (“Tocvan” or the “Corporation”) is pleased to announce it has signed a Letter of Commitment with Millrock Resources Inc. to acquire the Option Agreement (“Agreement”) for the El Picacho Gold Project (the “Project”) within the Caborca Orogenic Gold Belt in Sonora, Mexico. The Project is located 140 kilometers north of Hermosillo in Sonora, Mexico and is fully accessible by road. Extensive surface exploration has been conducted historically defining five (5) gold targets on the project. Tocvan believes these targets will be ready for drill testing with surface confirmation via trenching. A permit is currently active to allow for trenching and drilling on the Project.  A site-visit has been completed by Tocvan to confirm target areas and project accessibility. The Agreement is subject to an additional 60-day due-diligence period effective June 7, 2021.

  

About El Picacho

 

Location and Infrastructure

  • – Total Area: 2,413.7 ha

    – Road accessible, 140 km north-northwest of Hermosillo

    – Excellent Road access. Railroad on eastern edge of Project

    – 18 km southwest of San Francisco Mine (>3 Moz Au at 0.52 g/t Au in two open pits)

Historic Work Summary

  • – 5 Orogenic Gold Targets Defined: San Ramon, Tortuga, El Puerto, La Cornea, and El Jabali (Figure 2)

    – 2,650 rock samples collected (32 samples  >10g/t Au, 189 samples > 1 g/t Au)

    – Regional Scale mapping completed

    – 3,548 soil samples collected, covering Project Area (up to 4.75 g/t Au in soil)

    – 70% of area covered by ground magnetic survey

    – 17.8 line-km of IP surveys

    – Limited drilling completed, widely spaced

    – Fully Permitted for Drilling and Trenching

 

“We are extremely excited to announce the agreement to acquire the El Picacho Gold Project” Commented CEO, Derek Wood. “Tocvan sees this as a tremendous opportunity to add to our portfolio of strong gold assets and El Picacho will be the perfect compliment to Pilar. The amount of quality exploration work completed to date on the project provides Tocvan with several gold targets that can be advanced to drill ready status quickly. We look forward to advancing El Picacho while we continue to unlock the potential of Pilar.”

    

Terms of Option Agreement

 

Total cash payments of $1,989,600 USD will be made over a 5 year term to acquire 100% interest in the project. Millrock is to retain a 2% NSR with option for Tocvan to purchase back 1% for $1MM USD. Upon full execution of the Option Agreement an Annual Advance Minimum Royalty (“AAMR”) of $25,000 USD will be paid to Millrock, doubling each year until the start of production. An initial payment of $78,000 USD is due upon signing of the agreement.

   

Figure 1. Location of El Picacho Project within the Caborca Orogenic Gold Belt


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Figure 2. Planview Map of Target Areas at El Picacho.

 


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Brodie A. Sutherland, P.Geo., VP Exploration 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 currently has approximately 28 million shares outstanding and is earning into two exciting opportunities. The Pilar Gold-Silver project in Sonora, Mexico and the Rogers Creek Copper project in southern British Columbia, management feels both projects represent tremendous opportunity to create shareholder value.

     

FOR FURTHER INFORMATION, PLEASE CONTACT:

TOCVAN VENTURES CORP.

Derek A. Wood, President and CEO

Suite 1150 Iveagh House,

707 – 7th Avenue SW

Calgary, Alberta T2P 3H6       

Telephone: (403) 668 7855 EXT 101       

Email:  [email protected]

  

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.

 

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) 2021 TheNewswire – All rights reserved.

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Sienna Receives Drill Permit for the Blue Clay Lithium Project in the Clayton Valley of Nevada

Vancouver, British Columbia–(Newsfile Corp. – January 21, 2022) – Sienna Resources Inc. (TSXV: SIE) (OTC Pink: SNNAF) (FSE: A1XCQ0) ("Sienna" or the…

Vancouver, British Columbia–(Newsfile Corp. – January 21, 2022) – Sienna Resources Inc. (TSXV: SIE) (OTC Pink: SNNAF) (FSE: A1XCQ0) (“Sienna” or the “Company”) is pleased to announce that it has received the drill permit for the planned upcoming drill program on the Blue Clay Lithium Project in Clayton Valley, Nevada. This project consists of 94 contiguous claims totaling approximately 1950 acres prospective for lithium.

Jason Gigliotti, President of Sienna Resources, states, “This was the final step needed to start our much anticipated maiden drill program on the Blue Clay Lithium Project right in the heart of the Clayton Valley, the preeminent address for lithium in North America. We anticipate the commencement of drilling shortly, coming at a time when lithium demand and prices are at all-time highs. Nevada has become one of the most sought after lithium addresses in the world, and Sienna is located in multiple locations in this prolific region. Management is very optimistic about the prospects for this project and expects to have a steady flow of news moving forward.”

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Clayton Valley, Nevada Lithium Map

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About Sienna Resources Inc.

Sienna Resources is focused on exploring for and developing high-grade deposits in politically stable, environmentally responsible and ethical mining jurisdictions. Sienna is partnered with a New York Stock Exchange-listed mining company on two separate projects in Scandinavia including the past-producing Bleka and Vekselmyr orogenic gold projects in southern Norway which are both greenstone-hosted gold systems, and the Kuusamo platinum group elements (PGE) project in Finland directly bordering the LK Project being advanced by Palladium One Mining Inc. In North America, Sienna’s projects include the Marathon North platinum-palladium property in Northern Ontario directly bordering Generation Mining Ltd.’s 7.1-million-ounce palladium-equivalent Marathon deposit. Sienna also has the Clayton Valley Deep Basin Lithium Project in Clayton Valley, Nev., home to the only lithium brine basin in production in North America, in the direct vicinity of Albemarle Corp.’s Silver Peak deposit and Tesla Motors Inc.’s Gigafactory and the recently acquired Blue Clay Lithium Project in Clayton Valley Nevada. Management cautions that past results or discoveries on properties in proximity to Sienna may not necessarily be indicative to the presence of mineralization on the company’s properties.

All matters were voted in favor at the recently held Annual General Meeting, including the re-approval of the Company’s Stock Option Plan with a minor change (the “Amendment”) motioned from the floor to automatically extend the expiry date if the expiry date falls within a blackout period during which the Company prohibits Optionees from exercising their Options. As amended by the Amendment, the expiry date of the affected Options is extended to no later than ten (10) business days after the expiry of the blackout period.

If you would like to be added to Sienna’s email list please email [email protected] for information or join our twitter account at @SiennaResources.

Contact Information
Tel: 1.604.646.6900
Fax: 1.604.689.1733
www.siennaresources.com
[email protected]

“Jason Gigliotti”
President, Director
Sienna Resources Inc.

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 press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111079









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Spearmint Drills Longest Continuous Clay Intercept to Date on the McGee Lithium Clay Project in Clayton Valley, Nevada

Vancouver, British Columbia–(Newsfile Corp. – January 21, 2022) – Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the "Company"…

Vancouver, British Columbia–(Newsfile Corp. – January 21, 2022) – Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the “Company” or “Spearmint”) is pleased to announce that the first drill hole (hole #15) of the phase III drill program on Spearmint’s 100-percent owned ‘McGee Lithium Clay Project’ in Clayton Valley, Nevada has encountered 562 feet of continuous potential lithium-bearing claystone, directly bordering Cypress Development Corp. and Pure Energy Minerals Limited. To date, this is the longest clay intercept discovered on the ‘McGee Lithium Clay Project’ and the farthest step-out hole to the West, approximately 2,500 feet from any previous drill hole.

On June 11, 2021, Spearmint received the Technical Report on its ‘McGee Lithium Clay Project’ which included a maiden resource estimate of 815,000 indicated tonnes and 191,000 inferred tonnes for a total of 1,006,000 tonnes of lithium carbonate equivalent (LCE). The Technical Report was prepared in accordance with the requirements of National Instrument 43-101 by Stantec Consultant Ltd.’s qualified persons (Allan Turner, PGeol, and Derek Loveday, PGeo). The goal of this drill program will be to increase the maiden resource estimate by following the drilling recommendations provided by Stantec in the Technical Report. Spearmint’s two other lithium projects in Clayton Valley, Nevada include the recently acquired ‘Green Clay Lithium Project’ comprised of 97 contiguous claims totaling approximately 2,000 acres, and the ‘Elon Lithium Brine Project’ which has access to some of the deepest parts of the only lithium brine basin in production in North America. Lithium prices continue to make new all-time highs and have increased by over 500-percent since the start of 2021.

James Nelson, President of Spearmint Resources stated, “We are extremely pleased to have discovered our longest continuous intercept of potential lithium-bearing claystone to date on our flagship project, the McGee Lithium Clay Project in Clayton Valley, Nevada. Not only has hole #15 been our longest clay intercept, but hole #15 is also located the farthest away from any previous drill hole at an approximate distance of 2,500 feet to the West. If this hole runs at economic grades of lithium, similar to what we’ve already drilled, it could potentially increase our resource estimate significantly. This is one of the longest continuous intercepts of claystone reported to date in the Clayton Valley of Nevada. We are off to a fantastic start on this phase of drilling, especially when you consider lithium prices are at all-time highs.”

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McGee Lithium Clay Project – Hole #15

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As seen on the map below, Cypress Development Corp. and Spearmint share this blanket-like, lithium-bearing claystone formation that Spearmint’s drill program is targeting. Management cautions that past results or discoveries on properties in proximity to Spearmint may not necessarily be indicative to the presence of mineralization on the Company’s properties.

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Clayton Valley Ownership Map

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Qualified Person

Mr. Frank Bain, P.Geo., a Qualified Person as defined by National Instrument 43-101 has reviewed and approved the scientific and technical disclosure contained within this news release.

About Spearmint Resources

Spearmint’s primary projects include three lithium projects in Clayton Valley, Nevada; the ‘McGee Lithium Clay Project’ which has a maiden resource estimate of 815,000 indicated tonnes and 191,000 inferred tonnes for a total of 1,006,000 tonnes of lithium carbonate equivalent (LCE), directly bordering Pure Energy Minerals & Cypress Development Corp.; the ‘Elon Lithium Brine Project’ which has access to some of the deepest parts of the only lithium brine basin in production in North America; and the recently acquired ‘Green Clay Lithium Project’ comprised of 97 contiguous claims totaling approximately 2,000 acres.

Spearmint’s other primary projects include the ‘Goose’ Gold project directly bordering New Found Gold Corp. where Spearmint has sampled up to 973 ppb gold, and the Perron-East Gold Project consisting of 5 mineral claim blocks covering 11,608 acres located in the Abitibi greenstone belt of northwestern Quebec in the direct vicinity of Amex Exploration Inc.‘s Perron property and past-producing Normetal mine. For a complete list of Spearmint’s projects please visit spearmintresources.ca. Management cautions that past results or discoveries on properties in proximity to Spearmint may not necessarily be indicative to the presence of mineralization on the Company’s properties.

If you would like to be added to Spearmint’s news distribution list, please send your email address to [email protected]

Contact Information
Tel: 1604646-6903
www.spearmintresources.ca

“James Nelson”
President
Spearmint Resources Inc.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111049

















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Pretivm Securityholders Approve Acquisition by Newcrest

Melbourne, Australia–(Newsfile Corp. – January 20, 2022) – Newcrest Mining Limited (ASX: NCM) (TSX: NCM) (PNGX: NCM) (Newcrest) is pleased to announce…

Melbourne, Australia–(Newsfile Corp. – January 20, 2022) – Newcrest Mining Limited (ASX: NCM) (TSX: NCM) (PNGX: NCM) (Newcrest) is pleased to announce that Pretium Resources Inc. (TSX: PVG) (NYSE: PVG) (Pretivm) shareholders and optionholders (Securityholders) have voted overwhelmingly in favour of the special resolution to approve the plan of arrangement under which Newcrest will acquire Pretivm, including the Brucejack mine (the Transaction).

The special resolution was approved by 95.48% of the votes cast by Pretivm Securityholders at the special meeting held today.

Pretivm shareholders that did not elect cash or Newcrest shares will receive the default consideration of 50% cash and 50% Newcrest shares, being C$9.25 in cash and 0.4042 Newcrest shares per Pretivm share. For other shareholders, after proration and by operation of the aggregate cap of 50% cash and 50% Newcrest share consideration:

  • Pretivm shareholders electing to receive maximum cash consideration will receive approximately C$10.81 in cash and 0.3357 Newcrest shares per Pretivm share; and
  • Pretivm shareholders electing to receive maximum share consideration will receive 0.8084 Newcrest shares per Pretivm share.

Completion of the Transaction remains subject to final approval by the Toronto Stock Exchange, the granting of the final order by the Supreme Court of British Columbia at a hearing which is scheduled for 25 January 2022, and approval under the Investment Canada Act. Completion of the Transaction is currently expected to occur in the March quarter 2022.

Newcrest’s Managing Director and Chief Executive Officer, Sandeep Biswas, said, “It’s pleasing to see the overwhelmingly positive support for the Transaction from Pretivm shareholders. This acquisition positions Newcrest as the leading gold miner in British Columbia’s Golden Triangle, operating both the Brucejack and Red Chris mines. This is an exciting time for Newcrest and we look forward to building on Pretivm’s success to unlock further value in and around the Brucejack operation.”

Authorised by the Newcrest Disclosure Committee

For further information please contact

Investor Enquiries:
Tom Dixon
+61 3 9522 5570
+61 450 541 389
[email protected]

North American Investor Enquiries
Ryan Skaleskog
+1 866 396 0242
+61 403 435 222
[email protected]

Media Enquiries
Tim Salathiel
+61 3 9522 4263
+61 407 885 272
[email protected]

This information is available on our website at www.newcrest.com

Forward Looking Statements

This document includes forward looking statements and forward looking information within the meaning of securities laws of applicable jurisdictions. Forward looking statements can generally be identified by the use of words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe”, “continue”, “objectives”, “targets”, “outlook” and “guidance”, or other similar words and may include, without limitation, statements regarding certain plans, strategies, aspirations and objectives of management, and the expected completion of the Transaction. Newcrest continues to distinguish between outlook and guidance. Guidance statements relate to the current financial year. Outlook statements relate to years subsequent to the current financial year.

These forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Newcrest’s expectation of completion of the Transaction and the expected benefits of the transaction with Pretium Resources Inc. to differ materially from that expressed or implied by these forward-looking statements. Relevant factors may include, but are not limited to, regulatory risk, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which Newcrest operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation. For further information as to the risks which may impact on Newcrest’s results and performance, please see the risk factors included in the Appendix 4E and Financial Report for the year ended 30 June 2021 and the Annual Information Form dated 6 December 2021 which are available to view at www.asx.com.au under the code “NCM” and on Newcrest’s SEDAR profile. Newcrest does not undertake to update any of the forward looking statements other than as required by relevant securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111073





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