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Lucky Announces Closing of Non-Brokered Private Placement for CDN$2,011,795

Lucky Minerals Inc(TSXV:LKY)(OTC PINK:LKMNF)(FRA:LKY) Lucky” or the “Company“). Further to the news release dated January 6, 2022, Lucky is pleased to announce that it has closed a non-brokered private placement (the “Offering”) consisting of 22,353,278 units of the Company (the “Units“) at a price of CDN$0.09 per Unit for gross proceeds of CDN$2,011,795.02. Each Unit consists of one common share (“Common Share“) of the Company and one transferable common share purchase warrant (“Warrant“). Each Warrant will be exercisable to acquire one Common Share of the Company (“Common Share“) at a price of CDN $0.20 per Common Share for a period of 24 months from the date of issuance of the Warrant.

In connection to the Offering, the Company paid finder’s fees in cash of CDN$35,000 and issued 388,888 non-transferable compensation warrants (the “Compensation Warrants“). Each Compensation Warrant is exercisable into one Common Share at $0.15 per share until January 24, 2023.

The net proceeds of the Offering will be used to complete a 3,000 metre drill program on the Company’s Fortuna Project in Ecuador and for general working capital purposes.

In connection to the Offering, Lance Hubbard subscribed for a total of 14,325,555 Units. As a result, the Private Placement is a related party transaction (as such term is defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions) (“MI 61-101“)). The Company relied upon exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 contained in section 5.5(a) and 5.7(1)(a), respectively, with respect to the issuance of the Units to the insider.

All of the Common Shares, Warrants and Compensation Warrants issued in connection to the Offering are subject to a statutory hold period expiring four months and one day from the date of issuance.

About Lucky

Lucky is an exploration and development company targeting large-scale mineral systems in proven districts with the potential to host world class deposits. Lucky owns a 100% interest in the Fortuna Property.

The Company’s Fortuna Project is comprised of twelve contiguous, 550 km2 (55,000 Hectares, or 136,000 Acres) exploration concessions. Fortuna is located in a highly prospective, yet underexplored, gold belt in southern Ecuador.

Covid-19 Safety Protocols

Lucky has strict rules in place for all workers arriving to and from field sites. All personnel are tested upon arriving and leaving and are tested every two weeks. All personnel are following COVID protocols with permanent disinfection procedures in place and are following correspondent social distancing while being isolated from the surrounding communities.

Further information on Lucky can be found on the Company’s website at www.luckyminerals.com and at www.sedar.com, or by contacting François Perron, President and CEO, by email at investors@luckyminerals.com or by telephone at (866) 924 6484.

Or by contacting:

Renmark Financial Communications Inc.
Daniel Gordon: dgordon@renmarkfinancial.com
Tel: (416) 644-2020 or (212) 812-7680
www.renmarkfinancial.com

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.

Cautionary Statement Regarding Adjacent Properties and Forward-Looking Information

This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of the Company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such factors include, but are not limited to: uncertainties related to exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labor relations matters. This list is not exhaustive of the factors that may affect the Company’s forward-looking information. Important factors that could cause actual results to differ materially from the Company’s expectations also include risks detailed from time to time in the filings made by the Company with securities regulators.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will not update or revise publicly any of the included forward-looking statements unless required by Canadian securities law.

SOURCE: Lucky Minerals Inc.

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Cartier Iron Recommences Drilling and Provides Update on Exploration Program on the Low Sulphidation Gold-Silver Epithermal System at Big Easy, Newfoundland

Cartier Iron Corporation (CSE:CFE) (“Cartier Iron” or the “Company”) is pleased to provide an update on its diamond drilling program at its wholly-owned Big Easy property, located near Clarenville, in eastern Newfoundland. As previously announced (see press releases September 21, 2021 and November 15, 2021) the 10,000m diamond drill program will test significant resistivity anomalies along a major north-northeast trending structural break outlined by the Controlled Source Audio Magneto-Telluric (“CSAMT”) survey in the Central Anomaly – Big Easy Showing Area. Drilling is being done by the Logan Drilling Group.

Previous drilling in the Central Anomaly area (see press release June 8, 2021) was successful in confirming an extensive zone of silicification up to 200m wide with low sulphidation epithermal gold-silver mineralization. Hole BE-21-35, drilled in the recent winter 2021 program, returned 0.45 g/t Au and 9.7 g/t Ag over 34m, while Hole BE-21-36 intersected 0.62 g/t Au and 16.12 g/t Ag over 13m. Resistivity response from the CSAMT survey, as shown in Figure 1, is markedly higher at deeper levels in the Central Anomaly area suggesting that these earlier holes may have been drilled too high in the epithermal system. Drilling completed in the fall of 2021 and current drilling planned in winter 2022 is focused on testing the resistivity highs at a deeper level to test for the potential core area of Au-Ag mineralization on targets along a strike length of 2.4km.

Eight (8) holes totaling 4,865m were completed by the Christmas break, with lengths ranging from 425m to 752m (BE-21-37 to BE-21-44), as listed in Table 1. Assays on all these holes are pending. Figure 1 is a block model of the 3D CSAMT resistivity model with the locations of holes completed and additional planned holes totaling 5,135m (Table 2), which will complete the 10,000m program. For the planned holes, an additional two (2) holes are being completed at the Central Anomaly target (BE-22-45 and BE-22-46), then the focus will shift to testing the resistivity highs in the Central North area located approximately 400m to 500m north of the Central Anomaly (Holes BE22-50 and BE22-51) and then finally move further northward to the Big Easy South area, approximately 400m south of the original Big Easy showing (Holes BE22-47 to BE22-49). This planned additional drilling is fully permitted.

Dr. Bill Pearson, P.Geo., Chief Technical Advisor for Cartier Iron said: “Drilling has been progressing quite well at Big Easy, however to date no assay results have been received. As a result, Cartier has decided to re-route most of the samples originally delivered to Eastern Analytical Ltd. in Springdale, Newfoundland, to the ALS laboratory prep facility in Moncton, New Brunswick, with the analysis of pulps to be completed in ALS Europe’s laboratory in Galway, Ireland. It is hoped that this will improve turnaround on samples and provide more timely results.”

Qualified Person

Dr. Bill Pearson, P.Geo., Chief Technical Advisor for Cartier Iron, and a Qualified Person (“QP”) as defined under National Instrument 43-101 (“NI 43-101”), has reviewed and approved the scientific and technical content of this press release. The CSAMT surveys were carried out by Clearview Geophysics under the direction of Joe Mihelcic, P.Eng., P.Geo., a QP under NI 43-101. Dr. Chris Hale, P.Geo. and Mr. John Gilliatt, P.Geo. of Intelligent Exploration provided the survey design and assisted in the interpretation from data processed by Clearview Geophysics. Messrs. Hale and Gilliatt are QPs as defined under NI 43-101. The diamond drilling program is being carried out under the supervision of Peter Webster, P.Geo. of Mercator Geological Services. Mr. Webster is an independent QP as defined under NI 43-101. The analytical work for the first two diamond drill holes in the program are being done by Eastern Analytical Ltd. in Springdale, Newfoundland. The samples for the 6 remaining holes completed are being prepared in ALS Laboratory’s Moncton facility, with the pulps to be analyzed by ALS Europe in their laboratory in Galway, Ireland. Going forward all drill core samples will be sent to ALS. Both Eastern Analytical and ALS Global are accredited laboratories. The Company employs an industry standard QA/QC program for all analytical work in addition to the laboratories internal QA/QC program.

Cartier Iron gratefully acknowledges the support of the Newfoundland and Labrador government through the Junior Exploration Assistance program.

Table 1: Diamond Drill Holes Completed prior to Christmas 2021 shutdown, Central Anomaly Target, Big Easy Gold-Silver Project

Hole No.UTM EUTM NElevAzimuthDipLength (m)
BE-21-377098765346497131270-55425
BE-21-387100755346390131270-55473
BE-21-397099755346498131270-50626
BE-21-407102005346400131270-60632
BE-21-417101005346290137270-50628
BE-21-427102005346291131270-55673
BE-21-437103005346291124270-60752
BE-21-44710200534610012090-60656
TOTAL4,865

Core size is NQ. Azimuth and dip are in degrees.

Table 2: Planned Drill Holes Central Anomaly, Centra North Anomaly and Big Easy South Anomaly, Big Easy Gold-Silver Project

Hole No.UTM EUTM NElevAzimuthDipLength (m)
CENTRAL ANOMALY
BE-22-457102005346100120270-60680
BE-22-467100355346100120090-60750
CENTRAL NORTH ANOMALY
BE-22-477105005346700120270-45800
BE-22-487106005346700120270-55655
BIG EASY SOUTH ANOMALY
BE-22-497105005347700114270-50500
BE-22-507106755347700107270-50750
BE-22-517108005347700107270-551000
TOTAL5,135
Metres of Drilling Completed Fall 20214,865
GRANT TOTAL10,000

Core size is NQ. Azimuth and dip are in degrees.

About Cartier Iron Corporation

Cartier Iron is an exploration and development Company focused on discovering and developing significant iron ore resources in Quebec, and a potentially significant gold property in the province of Newfoundland and Labrador. The Company’s iron ore projects include the Gagnon Holdings in the southern Labrador Trough region of east-central Quebec. The Big Easy gold property is located in the Burin Peninsula epithermal gold belt in the Avalon Zone of eastern Newfoundland.

Please visit Cartier Iron’s website at www.cartieriron.com.

For further information please contact:

Thomas G. LarsenJorge Estepa
Chief Executive OfficerVice-President
(416) 360-8006(416) 360-8006

The CSE has not reviewed nor accepts responsibility for the adequacy or accuracy of this release. Statements in this release that are not historical facts are “forward-looking statements” and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these “forward-looking statements”.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/421a851b-a401-42a6-ac3c-6a5b84693fe7

Figure 1
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GCM Mining Reports Fourth Quarter and Full Year 2021 Production; Meets Annual Guidance for Sixth Consecutive Year

GCM Mining Corp. (“GCM Mining” or the “Company”) (TSX: GCM, OTCQX: TPRFF) announced today that it produced a total of 18,030 ounces of gold in December 2021 at its Segovia Operations bringing the total for the fourth quarter of 2021 to 55,285 ounces compared with 50,084 ounces from Segovia in the fourth quarter of 2020. In the fourth quarter of 2021, the Company also produced 89,327 ounces of silver at Segovia, up from 51,302 ounces of silver in the fourth quarter last year, together with approximately 154,000 pounds of zinc and 254,000 pounds of lead. For the full year, Segovia’s gold and silver production in 2021 totalled 206,389 ounces and 253,597 ounces, respectively, up from 196,362 ounces of gold and 186,122 ounces of silver in 2020. Including Marmato production up to February 4, 2021, consolidated gold production for 2021 was 208,775 ounces compared with 220,194 ounces in 2020, which included 23,832 ounces from Marmato.

Lombardo Paredes, Chief Executive Officer of GCM Mining, commenting on the Company’s latest results, said, “Our Segovia Operations continue to meet our expectations, finishing 2021 within our production guidance for the sixth consecutive year. We are operating normally despite the recent challenges associated with the pandemic. We have now produced a total of approximately 1.5 million ounces of gold from Segovia over the 11 years we have owned the mining title and Segovia’s head grade has averaged 13.6 g/t over that period of time, consistent with its historical grades over its more than 100-year history. Segovia continues to rank amongst the highest-grade underground global gold mines as further evidenced by our recently announced high-grade intercepts from our ongoing drilling program in 2021. Our strategy of growth through diversification benefitted from our first concentrate production in the fourth quarter of 2021 from our new polymetallic plant at Segovia. In addition, we filed the technical report last week in support of our earlier announcement of the results of an updated Mineral Resource estimate and a preliminary economic assessment for our Toroparu Project in Guyana. Our pre-construction activities are advancing well and we expect to complete the prefeasibility study for the Toroparu Project by the end of March.”

GCM Mining processed 49,351 tonnes in December 2021 at its Maria Dama plant at Segovia, representing a daily processing rate of 1,592 tonnes per day (“tpd”), and head grades averaged 12.7 g/t in the month. This brings the daily processing rate for the fourth quarter of 2021 to 1,557 tpd with an average head grade of 13.4 g/t compared with 1,343 tpd at an average head grade of 14.0 g/t in the fourth quarter last year. For the full year, the Segovia Operations processed an average of 1,524 tpd with an average head grade of 12.8 g/t in 2021 compared with 1,280 tpd at an average head grade of 14.5 g/t in 2020.

The new 200 tpd polymetallic plant at Segovia was commissioned in mid-October and operated in test mode for 65 days in the fourth quarter of 2021, processing an average of approximately 100 tpd of tailings as it adjusted the operation of the equipment and the dosage of the reagents to optimize concentrate production. The new plant produced 194 tonnes of zinc concentrate and 201 tonnes of lead concentrate which have been stockpiled and are awaiting shipment in the first quarter of 2022. Payable production from the concentrates is estimated to total approximately 154,000 pounds of zinc, 254,000 pounds of lead, 18,400 ounces of silver and less than 100 ounces of gold, all of which will be finalized once the concentrates are shipped. GCM Mining is working to increase the daily processing rate of the new plant toward its normal capacity by the second quarter of 2022.

GCM Mining expects to release its 2021 fourth quarter and annual financial results together with the updated mineral reserve and resource estimates for its Segovia Operations on or about March 31, 2022. Webcast details will be announced in early March.

About GCM Mining Corp.

GCM Mining Corp. is a mid-tier gold producer with a proven track record of mine building and operating in Latin America. In Colombia, the Company is the leading high-grade underground gold and silver producer with several mines in operation at Segovia Operations. In Guyana, the Company is advancing the Toroparu Project, one of the largest undeveloped gold/copper projects in the Americas. The Company also owns an approximately 44% equity interest in Aris Gold Corporation (TSX: ARIS) (Colombia – Marmato), an approximately 27% equity interest in Denarius Silver Corp. (TSX-V: DSLV) (Spain – Lomero-Poyatos; Colombia – Guia Antigua and Zancudo) and an approximately 26% equity interest in Western Atlas Resources Inc. (TSX-V: WA) (Nunavut – Meadowbank).

Additional information on GCM Mining can be found on its website at www.gcm-mining.com and by reviewing its profile on SEDAR at www.sedar.com.

Cautionary Statement on Forward-Looking Information:

This news release contains “forward-looking information”, which may include, but is not limited to, statements with respect to production guidance, the payment of dividends and other anticipated business plans or strategies. Often, but not always, forward-looking statements can be identified by the use of words 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. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of GCM Mining to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk Factors” in the Company’s Annual Information Form dated as of March 31, 2021 which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and GCM Mining disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

For Further Information, Contact:
Mike Davies
Chief Financial Officer
(416) 360-4653
investorrelations@gcm-mining.com

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Cartier Cuts 27.4 g/t Au over 8.0 m on the Fenton Property

Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) is pleased to announce high grade channel sampling results from the 2021 exploration program at the 100 % owned Fenton gold property located 50 km southwest of Chapais, Quebec, Canada.

Highlights:

  • Channel sections with grades up to 69.1 g/t Au / 2.0 m;
  • Confirmed the Fenton gold Structure geometry over 325 m in length by 15 to 25 m in width;
  • 29.6 g/t Au / 2.0 m, cut to 550 m depth under the Fenton gold Structure, by historical drill hole;
  • Geophysical surveys results expected soon in preparation for drill target generation.

 In 2021 we acquired 100% of the Fenton property and completed the review of the historical data as well as completing a focussed channel sampling program and a geophysical program ” commented Philippe Cloutier, President and CEO, adding “These results are an excellent start for 2022 as they continue to build our understanding of the gold mineralization and orient future exploration work for expanding known gold mineralization and new discoveries.”

Channel Sampling
Results from the channel sampling program at the Fenton gold property (see November 29th, 2021 news release for information) carried out in November 2021 have been received by Cartier. The Fenton gold Structure has a geometry, identified to date, over 325 m in length by 15 to 25 m in width. In surface, the center of the Fenton gold Structure returned values up to 69.1 g/t Au over 2.0 m, included in 43.5 g/t Au over 4.0 m, also included in an interval grading 27.4 g/t Au over 8.0 m (Refer to the FIGURE and Table 1 below).

Recall that, significant historical drill intercepts had returned 29.6 g/t Au / 2.0 m included in 20.0 m grading 3.4 g/t Au also within a broad interval of 64.7 m grading 1.5 g/t Au; located at a depth of 550 m, below the channel results presented in this release.

Table 1: Highlight best Channel Sampling Results:

ChannelFrom
(m)
To
(m)
Au Grade
(g/t)
Length
(m)*
R52.04.069.12.0
Included in2.06.043.54.0
Included in1.09.027.48.0
R78.510.518.92.0
Included in0.010.57.410.5
R16.07.037.41.0
Included in4.09.09.75.0
Included in0.020.02.720.0
R20.02.010.52.0
Included in0.022.02.222.0
R32.06.06.24.0
Included in0.018.02.418.0
R92.04.016.02.0
Included in0.05.08.65.0

* The lengths are expressed in length of the channel. The channels were collected perpendicular to the long axis of the mineralization.

Next Steps

Cartier is expecting the results from the InfiniTEM® XL of Abitibi Geophysic Inc.’s geophysical surveys soon. The results from the survey, in combination with the channel results from this release and the 2021 compilation of the historical drill holes data, will be used to generate the drill targets.

About Cartier

Cartier Resources Inc., which was founded in 2006, is an exploration company based in Val-d’Or. The company’s projects are all located in Quebec, which regularly ranks among the best mining jurisdictions in the world. Cartier is advancing the development of its flagship Chimo Mine project and actively exploring its other projects. The Company has a solid cash position exceeding $ 6M and significant corporate and institutional supports, notably with Agnico Eagle Mines, Jupiter Asset Management and the Quebec investment funds.

Qualified Persons

The scientific and technical information on the Company in this news release was prepared and reviewed by Mr. Gaétan Lavallière, P.Geo., Ph.D, Cartier’s Vice-President, and Mr. Ronan Déroff, P.Geo, M.Sc., Senior Geologist, Project Manager and Geomatician, both qualified persons as defined in NI 43-101. Mr. Lavallière approved the information contained in this press release.

Quality Assurance / Quality Control

Analytical results, from the Cartier channels, were obtained from samples measured on the trenches along the channels perpendicular to the long axis of the mineralization. The samples are crushed to 80% passing an 8 mesh (3.33 mm) mesh and then pulverized to 90% passing a 200 mesh (0.07 mm) mesh. Cartier inserts 5% of the number of samples as certified standards and another 5% as sterile samples to ensure quality control. The samples are analyzed at the Techni-Lab (Actlabs) laboratory, located in Ste-Germaine-Boulé, Quebec, Canada. The 50 g pulps are analyzed by fire assay and are read by atomic absorption, then by gravimetry for results greater than 10.0 g / t Au. For samples containing visible gold, 500 g of rock are analyzed by the “Metallic Sieve” method.

For more information, please contact:
Philippe Cloutier, P.Geo.
President and CEO
Telephone: 819 856-0512
philippe.cloutier@ressourcescartier.com
www.ressourcescartier.com

Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.

Three figures accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/071e9bd0-a574-4245-94e8-d6ac3e8af501

https://www.globenewswire.com/NewsRoom/AttachmentNg/f9e16de2-ac9a-4545-992c-654b667aaa6d

https://www.globenewswire.com/NewsRoom/AttachmentNg/426278cd-36b5-425b-af43-24ada2e57a5b

220118_Fig1_FENTONChannel220118_Fig2_180605_Fenton_DDH220118_Fig3_211129_Fenton_InfiniTEM XL
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Tocvan Channel Samples 19.8 meters of 0.73 g/t Au and 19.5 meters of 0.61 g/t Au, Releases Trench Program Results

Tocvan Ventures Corp. (the “Company”) (CSE:TOC) (CNSX:TOC.CN) (OTCQB:TCVNF) (WKN:TV3/A2PE64), is pleased to announce trench results from its Pilar Au-Ag Project in Sonora, Mexico. A total of four trenches were completed in December, 2021 totalling 80 meters length. All four trenches intersected mineralization with two trenches yielding consistent mineralization across the entire length of the trench. T-21-2, intersected 19.5 meters of 0.61 g/t Au across the entire length of the trench in an area along the developing 4-Trench Trend. T-21-3, yielded 19.8 meters of 0.73 g/t Au and was targeted to provide key geochemical information across the Main Zone where mineralization outcrops at surface. Initial bulk-sample material from T-21-3 will be submitted to SGS Laboratories in Durango, Mexico and used for column leach studies. Follow-up metallurgical studies will utilize the surface material extracted from the other three trenches.

 

Trench Results Highlights

  • T-21-1 – 4.9m at 0.55 g/t Au and 11 g/t Ag
  • T-21-2 – 19.5m at 0.61 g/t Au and 6 g/t Ag
    • Including, 11.5m at 0.87 g/t Au and 7 g/t Ag
    • Including, 2.7m at 3.01 g/t Au and 20 g/t Ag
  • T-21-3 – 19.8m at 0.73 g/t Au and 8 g/t Ag
    • Including 8.6m at 1.27 g/t Au and 12 g/t Ag
  • T-21-4 – 7m at 0.54 g/t Au and 5 g/t Ag

 

“The results from our trench program are very encouraging, especially in regard to defining key material for advanced metallurgical studies and showcasing the surface continuity of gold values.”, commented CEO, Brodie Sutherland. “Material from these trenches will be utilized for advanced column leach studies to build off our encouraging bottle roll results from 2021 that yielded over 90% recovery of gold. Trench T-21-2 has yielded promising results in our developing 4-Trench Trend which we will follow up with systematic drill targeting.”

 

Discussion of Trench Results

Trenches completed were 20 meters long, up to 5 meters wide and up to 2 meters deep. Samples were collected as channel samples perpendicular to structures over intervals up to 2 meters in length and adjusted to match changes in lithology or alteration.

T-21-1: This trench was completed to test a broad mineralized zone with visible copper oxide mineralization along the northwestern most extent of the Pilar main vein trend. The trench totalled 21.5 meters in length and intersected 4.9 meters of 0.55 g/t Au and 11 g/t Ag. Weak anomalous copper values averaged 0.1% across the entire length of the trench. Copper mineralization is a unique characteristic to this northwestern area of the property.

T-21-2: This trench was completed to better understand the controls of mineralization along the 4-Trench Trend. The trench returned significant mineralization across the entire length of the trench, intersecting 19.5 meters of 0.61 g/t Au and 6 g/t Ag. A mineralized fault structure returned higher grades across 2.7 meters with 3 g/t Au and 20 g/t Ag. The results from this trench further confirms the prospectivity of the 4-Trench target and the importance of continuing systematic exploration across the trend. Material from this trench will be selected for later metallurgical test work.

T-21-3: This trench was completed to collect fresh channel samples across the surface expression of the Main Zone showing. Significant mineralization was intersected across the entire length of the trench, returning 19.8 meters of 0.73 g/t Au and 8 g/t Ag, including 8.6 meters of 1.3 g/t Au and 12 g/t Ag. Historic sampling suggests the mineralized zone extends on either side of the trench. Material from this trench will be bulk sampled for detailed column leach metallurgical test work.

T-21-4: This trench was completed to test the northwestern extent of the Main Zone surface expression where a historic artisanal adit is located along the mineralized trend. The trench totalled 21 meters in length and intersected 7 meters of 0.54 g/t Au and 5 g/t Ag. Material from this trench will be selected for later metallurgical test work.

 

Table 1. Summary of Trench Program Results.

TrenchCutoff (Au g/t)FromToLength (m)Au (g/t)Ag (g/t)Cu (ppm)Pb (ppm)Zn (ppm)
T-21-1None0.021.521.50.1851219.8649.96256.25
T-21-10.13.515.812.30.2871136.3560.97279.73
T-21-10.54.69.54.90.55111162.16109.27235.12
T-21-2None0.021.521.50.576457.73512.095816.81
T-21-20.12.021.519.50.616498.12497.846140.59
T-21-20.56.017.511.50.877578.20491.476558.39
T-21-216.08.72.73.01201979.441404.4411827.78
T-21-30.10.019.819.80.738268.53112.093336.15
T-21-30.51.213.812.61.029344.22147.864259.03
T-21-311.29.88.61.2712279.67198.725739.51
T-21-4None0.021.021.00.242246.9039.071597.48
T-21-40.110.021.011.00.434359.3651.502613.18
T-21-40.512.019.07.00.545401.5756.363110.71


Click Image To View Full Size

Figure 1. Plan Map of Highlighting Trench Program.


Click Image To View Full Size

 

Figure 2. Schematic Cross-Section along trench T-21-3

About the 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.

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.

 

Quality Assurance / Quality Control

RC chips were shipped for sample preparation to ALS Limited in Hermosillo, Sonora, Mexico and for analysis at the ALS laboratory in North Vancouver. The ALS Hermosillo and North Vancouver facilities are ISO 9001 and ISO/IEC 17025 certified. Gold was analyzed using 50-gram nominal weight fire assay with atomic absorption spectroscopy finish. Over limits for gold (>10 g/t), were analyzed using fire assay with a gravimetric finish. Silver and other elements were analyzed using a four-acid digestion with an ICP finish. Over limit analyses for silver (>100 g/t) were re-assayed using an ore-grade four-acid digestion with ICP-AES finish. Control samples comprising certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the Company’s robust quality assurance / quality control protocol.

 

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, 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.

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GR Silver Mining Confirms Wide, High-grade Silver Mineralization Below the San Marcial Resource, 18.5 m @ 773 g/t Ag, including 1,792 g/t Ag over 5.6 m

GR Silver Mining Ltd. (“GR Silver Mining” or the “Company”) (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – is pleased to announce wide, high-grade silver (Ag) results from diamond core drilling from the recently expanded underground tunnel in the San Marcial Area, at the Plomosas Project, Sinaloa, Mexico. These assay results are from the initial three holes of an eight-hole program and confirm extensions of high-grade Ag mineralization along strike, as well as up to 170 m down dip, below the San Marcial NI 43-101 mineral resource. The successful results extend the mineralization from the initial 250 m to approximately 420 m down dip from surface. These results also suggest that the compilation of modern and historical data, combined with advanced geological modelling, has been successful in targeting higher grade mineralization on the project.

The Company has successfully completed the first ever underground drill program at San Marcial, confirming extensions of the high-grade Ag mineralization at attractive widths and grades to support future resource expansion (Figure 1).

All eight holes in the resource expansion program have now been successfully completed with assays pending for five holes.

Highlights:

  • First phase of San Marcial resource expansion drilling successfully completed, defining not only continuity of high-grade Ag mineralization but also delineating new, wide hydrothermal breccias carrying Au mineralization on the footwall of the San Marcial Ag-rich hydrothermal breccia.

  • Ag results from the San Marcial Breccia include:
    • 881 g/t Ag over 2.0 m from 118.0 m downhole (SMI21-01)
    • 773 g/t Ag over 18.5 m from 179.4 m downhole (SMI21-03), including:
      1,792 g/t Ag over 5.6 m from 184.5 m downhole, and
      516 g/t Ag over 7.9 m from 190.0 m downhole

  • Initial resource expansion drilling consists of 8 holes for 2,436 m drilled from recently completed underground development in the current resource area.

  • Discovery of disseminated Au mineralization on the footwall of the San Marcial Ag-rich Breccia hosted in multiple hydrothermal breccias delineating new target for future drilling aiming to define wide Au only mineralized system.
    • 0.19 g/t Au over 77.5 m from 138.3 m downhole (SMI21-01)

  • Full integration of the recently completed ground geophysical survey (IP-MAG), covering the trend from San Marcial to San Juan, combined with new geological discoveries, has proven essential for definition of the exploration program for 2022, including surface and underground drilling in new target areas.

  • Definition of a multi-event mineralized hydrothermal system with multiple styles of hydrothermal breccia indicating a large geological setting to support resource expansion and additional discoveries in the vicinities of the current NI 43-101.

GR Silver Mining President and CEO, Marcio Fonseca commented “The first drill results from our resource expansion program at San Marcial have proven the consistency and continuity of the Ag-rich San Marcial Breccia mineralization, along strike and down dip. Based on such encouraging initial assay results we are anticipating continued positive results for the remainder of the drill core currently at the laboratory. The introduction of a modern exploration approach by the GR Silver Team is delineating an extensive hydrothermal system with presence of high-grade silver mineralization, proving continuity of the San Marcial Breccia down dip to support resource expansion. It is also delineating wide Au mineralized zones, which will be the subject of additional drilling in 2022. I congratulate the GR Silver Team for its exploration achievement at San Marcial by discovering the down dip extension of the San Marcial Breccia.”

Resource Expansion Drill Program

The first phase resource expansion drill program included 2,436 m with eight diamond drill holes completed from one platform at the end of the 280 m of underground development at the San Marcial tunnel. This underground drill station makes it cost-effective to drill additional extensions of the San Marcial Breccia down dip and down plunge (see News Release dated September 1, 2021). Oriented drill core was logged in detail, given the large hydrothermal system encountered in most of the eight holes drilled in this program. Assay results for the initial three drill holes have been received (Table 1), and results for the remaining five drill holes are pending (Table 2).

Significant results from the initial underground drilling at San Marcial Area are shown in Table 1, below:

Table 1:   San Marcial Drill Results

Drill Hole

From (m)

To (m)

Apparent 
width (m)

True width (m)

Ag g/t

Au g/t

Pb %

Zn %

SMI21-01

109.5

135.6

26.1

24.5

97

0.02

0.2

0.2

includes

118.0

120.0

2.0

1.9

881

0.05

0.2

0.4

142.3

155.7

13.4

12.6

4

0.23

na

na

166.0

174.2

8.2

7.7

7

0.22

na

na

183.8

214.1

30.3

28.5

6

0.23

na

na

254.8

257.6

2.8

2.6

1

1.08

na

na

SMI21-02

140.0

157.8

17.8

17.5

53

0.02

0.3

0.5

includes

140.0

142.3

2.3

2.3

157

0.06

1.3

2.5

282.7

286.4

3.7

3.6

3

0.20

na

na

292.9

294.8

1.9

1.9

6

0.75

na

na

332.0

332.5

0.5

0.5

185

0.03

na

0.1

340.5

342.5

2.0

2.0

5

0.32

na

na

SMI21-03

179.4

197.9

18.5

13.5

773

0.02

0.3

0.4

includes

184.5

190.0

5.6

4.1

1,792

0.04

0.6

0.8

and

190.0

197.9

7.9

5.8

516

0.02

0.1

0.1

201.0

213.2

12.2

8.9

19

0.14

0.3

0.8

“na” = no significant result. Numbers may be rounded. Results are uncut and undiluted. True sample widths are approximate due to complexity of structural orientations.

San Marcial Geology and Mineralization Styles

The San Marcial Ag-Pb-Zn-(Au-Cu) mineral body is a remarkably consistent tabular structure trending NW-SE with an average dip of 55 degrees to the NE and a thickness that varies from 10 to 50 m. It follows the San Marcial Fault, with andesitic volcanic breccias and ignimbritic block and ash units in the hanging wall. In the footwall, a strongly altered heterogenous volcaniclastic-sedimentary unit is found (Figure 2).

Silver mineralization is comprised of three distinct events. The first mineralizing event consists of hydrothermal breccias with silica-rich cement and clasts of volcaniclastic-sedimentary rock in the footwall, which contains pyrite in veinlets and disseminated with continuous low-grade Au (0.1 – 2.0 g/t) content over large intervals of up to 140 m (Figure 2). An example of this is in drill hole SMI21-01, which returned 0.23 g/t Au over 30.3 m, with individual samples up to 1.00 g/t Au (189.6 – 190.5 m). At depth, strongly silicified and mineralized felsic dykes have been identified with values of up to 0.94 g/t Au (SMI21-01: 143.4 – 144.6 m) possibly related to this hydrothermal event. Similar lithologies have previously been associated with high-grade gold mineralization in the footwall at San Marcial, with drill hole SM-19-01 returning 1.0 m at 204.6 g/t Au (see News Release dated July 30, 2019). Further, several fault-parallel crackle breccia zones are evident in the hanging wall with similar compositional characteristics as the hydrothermal breccia.

The second mineralizing event produces the main San Marcial Breccia with high-grade Ag and subordinate Pb and Zn. It is bound to the San Marcial Fault and shows several brecciation events with Ag-sulphides, and coarse galena and sphalerite mineralization with a characteristic silica-hematite matrix and reddish colour. The third mineralizing event is related to late, steeply dipping faults that cut and displace the rock units, showing approximately 2 m-wide stockwork and veinlet zones of low-temperature quartz-amethyst-calcite mineralization which contain Ag mineralization, and are found in the footwall and hanging wall of the deposit.

Photographic images and assay values of representative core samples are found here.

Figure 1 provides a sectional slice through a 3-dimensional model of the San Marcial deposit. The main Ag-bearing San Marcial Breccia dips consistently down to the NE below the theoretical pit outline. The current San Marcial NI 43-101 Mineral Resource report (see News Releases dated February 7, 2019 and June 12, 2020) concentrates on the upper portion of the Ag mineralization close to the surface. The wide, high-grade Ag result in SMI21-03 (Table 1) is located approximately 170 m down dip below the base of the NI 43-101 Mineral Resource, highlighting the potential for underground resource expansion. Geological logging has confirmed the presence of breccia in hole SMI21-07, located deeper than hole SMI21-03 (Figure 1), indicating additional down dip expansion potential.

The extensive, wide, low-grade Au zone in the footwall below the San Marcial Breccia also features in this model. Future exploration of the footwall zone will continue to provide a better understanding of the Au mineralization, its genesis, and hopefully provide vectors that will assist in defining additional higher-grade zones.

Targeting of the drill program was aided by 3D chargeability, resistivity and magnetic inversion data products received by the Company over the San Marcial Resource Area. Several zones of elevated chargeability correspond with volcaniclastic-sedimentary units that are found in the immediate footwall of the San Marcial Fault, overlapping with areas of disseminated pyrite, and coincident with previously reported gold intercepts (see News Release dated November 12, 2020).

Table 2:   San Marcial Underground Drill Hole Details

Drill Hole

East (m)

North (m)

RL (m)

Dip (˚)

Azimuth (˚)

Depth (m)

Results Status

SMI21-01

451033

2546021

818

-48

218

330

Received

SMI21-02

451033

2546021

818

-43

183

345

Received

SMI21-03

451033

2546021

818

-90

0

300

Received

SMI21-04

451033

2546021

818

-70

148

234

Pending

SMI21-05

451033

2546021

818

-70

325

330

Pending

SMI21-06

451033

2546021

818

-50

285

255

Pending

SMI21-07

451033

2546021

818

-75

90

333

Pending

SMI21-08

451033

2546021

818

-80

360

309

Pending

Note: all holes drilled from the same underground drill platform

San Marcial Exploration Planning

The Company anticipates assay results from the remaining five drill holes in the initial underground drill program at San Marcial in the coming months. Once received, the 3-dimensional geological model will be updated and further surface and/or underground drilling will be delineated. The GR Silver Mining Team continues to assess additional targets along strike from the San Marcial Resource Area, particularly to the SE, for Ag resource expansion based on similar geological-geophysical and structural targets recognized in our 2021 exploration program.

Qualified Person

The scientific and technical data contained in this News Release related to the exploration program were reviewed and/or prepared under the supervision of Marcio Fonseca, P. Geo. He has approved the disclosure herein.

About GR Silver Mining Ltd.

GR Silver Mining is a Canadian-based, Mexico-focused junior mineral exploration company engaged in cost-effective silver-gold resource expansion on its 100%-owned assets, located on the eastern edge of the Rosario Mining District, in the southeast of Sinaloa State, Mexico. GR Silver Mining controls 100% of two past producer precious metal underground and open pit mines, within the expanded Plomosas Project, which includes the integrated San Marcial Area and La Trinidad acquisition. In conjunction with a portfolio of early to advanced stage exploration targets, the Company holds 734 km2 of concessions containing several structural corridors totaling over 75 kilometres in strike length.

GR Silver Mining Ltd.
Mr. Marcio Fonseca, P. Geo.
President & CEO

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Cautionary Statement Regarding Forward-Looking Information

This press release contains “forward-looking statements” within the meaning of applicable Canadian securities legislation and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

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.

SOURCE GR Silver Mining Ltd.

For further information: please contact: Brenda Dayton, VP Corporate Communications, Telephone: +1.604.558.6248, Email: bdayton@grsilvermining.com

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GCM Mining Declares Monthly Dividend to Be Paid on February 15, 2022

GCM Mining Corp. (“GCM Mining” or the “Company”) (TSX: GCM, OTCQX: TPRFF) announced today that its Board of Directors has declared the next monthly dividend of CA$0.015 per common share will be paid on February 15, 2022 to shareholders of record as of the close of business on January 31, 2022.

About GCM Mining Corp.

GCM Mining Corp. is a mid-tier gold producer with a proven track record of mine building and operating in Latin America. In Colombia, the Company is the leading high-grade underground gold and silver producer with several mines in operation at Segovia Operations. In Guyana, the Company is advancing the Toroparu Project, one of the largest undeveloped gold/copper projects in the Americas. The Company also owns an approximately 44% equity interest in Aris Gold Corporation (TSX: ARIS) (Colombia – Marmato), an approximately 27% equity interest in Denarius Silver Corp. (TSX-V: DSLV) (Spain – Lomero-Poyatos; Colombia – Guia Antigua and Zancudo) and an approximately 26% equity interest in Western Atlas Resources Inc. (TSX-V: WA) (Nunavut – Meadowbank).

Additional information on GCM Mining can be found on its website at www.gcm-mining.com and by reviewing its profile on SEDAR at www.sedar.com.

Cautionary Statement on Forward-Looking Information:

This news release contains “forward-looking information”, which may include, but is not limited to, statements with respect to the payment of dividends and other anticipated business plans or strategies. Often, but not always, forward-looking statements can be identified by the use of words 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. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of GCM Mining to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk Factors” in the Company’s Annual Information Form dated as of March 31, 2021 which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and GCM Mining disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

For Further Information, Contact:
Mike Davies
Chief Financial Officer
(416) 360-4653
investorrelations@gcm-mining.com

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

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.

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GCM Mining Files National Instrument 43-101 Technical Report for Its Toroparu Project in Guyana

GCM Mining Corp. (“GCM Mining” or the “Company”) (TSX: GCM, OTCQX: TPRFF) announced today that it has filed a technical report and preliminary economic assessment (the “Technical Report”) pursuant to National Instrument 43‐101 – Standards of Disclosure for Mineral Projects (“NI 43‐101″) for its Toroparu Gold Project located in the Upper Puruni River Region of Western Guyana. The Technical Report dated January 11, 2022, with an effective date of December 1, 2021, supports the disclosure made by the Company in its December 1, 2021 news release and was prepared by Nordmin Engineering Ltd. The Technical Report is based on the updated Mineral Resource estimate for the Toroparu Gold Project with an effective date of November 1, 2021.

About GCM Mining Corp.

GCM Mining Corp. is a mid-tier gold producer with a proven track record of mine building and operating in Latin America. In Colombia, the Company is currently the largest underground gold and silver producer with several mines in operation at its high-grade Segovia Operations. In Guyana, the Company is advancing the Toroparu Project, one of the largest undeveloped gold/copper projects in the Americas. The Company also owns an approximately 44% equity interest in Aris Gold Corporation (TSX: ARIS) (Colombia – Marmato), an approximately 27% equity interest in Denarius Silver Corp. (TSX-V: DSLV) (Spain – Lomero-Poyatos; Colombia – Guia Antigua and Zancudo) and an approximately 26% equity interest in Western Atlas Resources Inc. (TSX-V: WA) (Nunavut – Meadowbank).

Additional information on GCM Mining can be found on its website at www.gcm-mining.com and by reviewing its profile on SEDAR at www.sedar.com.

Cautionary Statement on Forward-Looking Information:

This news release contains “forward-looking information”, which may include, but is not limited to, statements with respect to its anticipated business plans or strategies. Often, but not always, forward-looking statements can be identified by the use of words 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. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of GCM Mining to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk Factors” in the Company’s Annual Information Form dated as of March 31, 2021 which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and GCM Mining disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

For Further Information, Contact:
Mike Davies
Chief Financial Officer
(416) 360-4653
investorrelations@gcm-mining.com

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Lucky Minerals Announces Strategic Partnership with Hubbard Drilling Services and Private Placement

Lucky Minerals Inc.(TSXV:LKY)(OTC PINK:LKMNF)(FRA:LKY) (“Lucky” or the “Company“) is pleased to announce it has entered into a strategic partnership with Hubbard Drilling Services, (“Hubbard Drilling”) and also announces a non-brokered private placement of up to $2,011,795.

Non-Binding Letter of Intent: Drilling Contract and Shares for Services Agreement

The Company, has received a non-binding letter of intent (“Letter of Intent”) for a proposed drilling services contract from the Ecuadorian subsidiary of Hubbard Drilling whereby, subject to TSX Venture Exchange approval, Hubbard Drilling will be paid in shares for the drilling services provided.

Commitments Received: Non-Brokered Private Placement

In addition to the Letter of Intent, the Company announces it has received commitments from individuals, including a strategic partner related to Hubbard Drilling, to enter into non-brokered private placement agreements (“Private Placement”) for gross proceeds of up to CDN $ 2,011,795. The private placement will consist of 22,353,278 units of the Company at CDN $0.09 per unit, with each unit consisting of one common share and one full two year common share purchase warrant, exercisable at a price of CDN $0.20 per common share. The Company expects to close in the coming days.

The Company may pay finders’ fees on a portion of the proposed Private Placement in accordance with applicable securities laws and the policies of the TSX Venture Exchange.

This Private Placement is subject to TSX Venture Exchange approval.

The net proceeds of the Private Placement will be used to complete the first drill program on the Company’s Fortuna Project in Ecuador and for general working capital purposes.

François Perron President and CEO states “This initiative places Lucky on solid ground ahead of our upcoming drilling program. Our treasury will be bolstered by these additional investors and combined with the shares for drilling services agreement will allow the drilling to continue beyond our initial proposed program of 3,000 metres. Our work in the field continues to advance and we now expect to begin drilling at Wayka in the first quarter of 2022”

ON BEHALF OF THE BOARD

“François Perron”
Chief Executive Officer

About Lucky

Lucky is an exploration and development company targeting large-scale mineral systems in proven districts with the potential to host world class deposits. Lucky owns a 100% interest in the Fortuna Property.

The Company’s Fortuna Project is comprised of twelve contiguous, 550 km2 (55,000 Hectares, or 136,000 Acres) exploration concessions. Fortuna is located in a highly prospective, yet underexplored, gold belt in southern Ecuador.

Covid-19 Safety Protocols

Lucky has strict rules in place for all workers arriving to and from field sites. All personnel are tested upon arriving and leaving and are tested every two weeks. All personnel are following COVID protocols with permanent disinfection procedures in place and are following correspondent social distancing while being isolated from the surrounding communities.

Further information on Lucky can be found on the Company’s website at www.luckyminerals.com and at www.sedar.com, or by contacting François Perron, President and CEO, by email at investors@luckyminerals.com or by telephone at (866) 924 6484.

Or by contacting:

Renmark Financial Communications Inc.
Daniel Gordon: dgordon@renmarkfinancial.com
Tel: (416) 644-2020 or (212) 812-7680
www.renmarkfinancial.com

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.

Cautionary Statement Regarding Adjacent Properties and Forward-Looking Information

This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of the Company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such factors include, but are not limited to: uncertainties related to exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labor relations matters. This list is not exhaustive of the factors that may affect the Company’s forward-looking information. Important factors that could cause actual results to differ materially from the Company’s expectations also include risks detailed from time to time in the filings made by the Company with securities regulators.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will not update or revise publicly any of the included forward-looking statements unless required by Canadian securities law.

SOURCE: Lucky Minerals Inc.

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