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Posts, updates and videos about silver – updated automatically.

Tocvan Adds Depth to Management Team

Tocvan Ventures Corp. (CSE:TOC) (CNSX:TOC.CN) (“Tocvan” or the “Corporation”) is pleased to announce Rodrigo Calles-Montijo has been appointed to the Board of Directors and management team as Exploration and Corporate Development Manager, Mexico.

 

 Mr. Calles-Montijo has been an integral part to the success of operations at the Pilar Gold-Silver Project and compliments the Board and management team with his experience and knowledge related to project development in Mexico. Mr. Calles has over 30 years of global mineral exploration experience, working with groups that include Rio Tinto, Kennecott, SRK Consulting and as an independent consultant. Rodrigo holds a MSc. in Geology from the University of Sonora and is a registered Certified Professional Geologist. Mr. Calles-Montijo is fluent in both Spanish and English. Mr. Calles-Montijo has been granted 150 000 stock options at an exercise price of $0.35 and a 5 year term to expiry in accordance with Tocvan’s stock option plan.

 

Derek Wood CEO commented “This addition to the Tocvan Team I regard as a major benefit to Tocvan Ventures Corp. Mr. Calles-Montijo’s experience and network within the Mexican mining sector will be of great benefit as we continue to advance the Pilar property, while researching, evaluating and negotiating additional Mexican opportunities.”

 

About Tocvan Ventures Corp.

Tocvan is a well-structured exploration mining company. Tocvan was created 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 Ventures Currently has approximately 24.5 million shares outstanding and is earning into two exciting opportunities. The Pilar Gold project in the Sonora state of Mexico and the Rogers Creek project in Southern British Columbia, Management feels both projects represent tremendous opportunity.

  

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 using 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 because 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 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) 200-3569

Email:  dwood@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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Etruscus Samples 7,013 g/t Silver, 12.7 g/t Gold at Newly Discovered “Thunderstruck” Target at Rock & Roll

Etruscus Resources Corp. (CSE: ETR) (OTC: ETRUF) (FSE: ERR) (the “Company” or “Etruscus”) is pleased to announce substantial rock sampling results from the “Thunderstruck” target newly discovered during its 2020 summer exploration program in the Eskay Camp of BC’s resource-rich Golden Triangle. The Thunderstruck target is located 1.5 km southeast of the Hurricane Target (announced January 13, 2021), both located on the recently staked extended Rock & Roll claims, and 13 km northwest of the Black Dog Deposit.

Like Hurricane, the Thunderstruck target was immediately upgraded to high-priority due to the strong geochemistry returned from the high-grade samples.  The area contained multiple quartz calcite veins of cm scale that spread over an area of hundreds of meters. Iron carbonate weathering and gossanous patches were visible through the deposited glacial moraine. The veins showed polymetallic signatures high in elements expected in epithermal environments such as Pretium’s high-grade Brucejack deposit.

Thunderstruck Highlights:

  • Grab sample* # B0026845 assayed 7,013 g/t silver, 12.7 g/t gold, 3.9% zinc, 2.4% lead, and 0.2% copper;
  • Another grab sample taken 85 meters (“m”) away also had very impressive silver results with 1,017 g/t silver, as well as significant gold, copper, lead and zinc;
  • Historic work from this area in 1983 suggest it was entirely under ice at that time;
  • The nearby Argentina vein 1,800 m northwest sampled 555 g/t silver;
  • The nearby Heather vein 1,500 m southeast sampled 25 g/t gold, 332 g/t silver and 5.1% lead in 2019 and soil sampled** 9.5 g/t gold and >100 g/t silver in 1983; and
  • Further rock sampling to the south along the edge of the glacier, 200 m and 700 m south also returned rocks with elevated silver and gold (Click Here to View Map).

Through an extensive 20-day geological mapping and sampling program completed on the extended Rock & Roll claims this past summer, the team discovered numerous veins at or near the Thunderstruck target. These veins appear to show potential for precious metal mineralization including high-grade silver and gold, and often demonstrate elemental signatures representative of an epithermal system. They occur in a fine-grained sedimentary sequence of siltstones and calcareous sediments tentatively assigned to be Upper Stuhini Stratigraphy.

The Company is still waiting for additional sampling results from its 2020 exploration program.  However, encouraged by results to date, the Company is already planning a larger, more defined sampling, mapping and prospecting program of the area for 2021.  With recently unglaciated terrain, the area is mostly unexplored and has become very prospective for high-grade mineralization.

Dr. Dave R. Webb, Vice President, Exploration, comments on Thunderstruck, “As we search for extensions to our Black Dog Deposit, we have discovered a new area of high-grade mineralization that appears to have an epithermal signature similar to Pretium’s Brucejack deposit.  There is an abundance of high-grade samples and veins in this area that has barely seen any exploration.  With new VTEM data and geological mapping done in 2020, we are looking forward to advancing this target quickly, including a plan to drill it this year.

Gordon Lam, President and CEO of Etruscus further comments, “To say we are excited about these results is an understatement.  We have now been able to strategically identify key areas for further exploration which we are confident will provide evidence of significant mineralization of high-grade silver and gold.”

Qualified Person

Technical aspects of this news release have been reviewed and approved by Dr. Dave R. Webb, Ph.D., P.Geo., who is a Qualified Person as defined under National Instrument 43-101.

QA/QC and Analytical Procedures

The Company has adopted a rigorous quality assurance and quality control (“QA/QC”) program to ensure best practices in sampling both diamond drill core and surface rock chip samples of approximately 1 kg in weight. The Company’s samples and drill core are being assayed by MSA LABS which has facilities in Terrance and Langley, BC. and is independent of the Company. Core is flown from drill sites to the core shack facility where it was sampled at 1-3m intervals. The samples were then half cut with one half sent to the lab and the other half stored on site. Once at the lab, samples were crushed to 70% pass 2mm fraction, and then a 250g split was pulverized to better than 85% passed a 75-micros screen. The geochemical analyses were performed by MSA LABS using multi-element aqua-regia digestion ICP-MS package (IMS-111). Gold was analyzed by fire assay technique FAS-114. Higher gold grades (>3 g/t) were analyzed by fire assay. MSA LABS is a provider of geochemical laboratory services for the exploration and mining industries is an ISO 17025 (Testing and Calibration) and ISO 9001 (Quality Management System) accredited laboratory. In addition to the lab’s internal QA/QC program, the Company inserted 10% lab certified standards, blanks and field duplicates into the overall sampling stream.

* Grab samples are selectively collected and are therefore not representative of all mineralization hosted on the property.

** Historic samples cannot be verified by Etruscus but are deemed to be accurate to the best of our knowledge.

About Etruscus

Etruscus Resources Corp. is a Vancouver-based exploration company focused on the development of its 100%-owned Rock & Roll and Sugar properties comprising 27,880 hectares near the past producing Snip mine in Northwest B.C.’s prolific Golden Triangle.

Etruscus is traded under the symbol “ETR” on the Canadian Securities Exchange, “ETRUF” on the OTC markets and “ERR” on the Frankfurt Stock Exchange and has 28,514,306 common shares issued and outstanding.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This Press Release may contain statements which constitute ‘forward-looking’ statements, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including quarterly and annual Management’s Discussion and Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as intended, planned, anticipated, believed, estimated or expected. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.

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

SOURCE Etruscus Resources Corp.

For further information: Investor Relations Contact: Derek Wood, Email: dwood@conduitir.com; Telephone: 403-668-7855; Company Contact: Gordon Lam, CEO, Email: info@etruscusresources.com; Telephone: 604-336-9088, Website: www.etruscusresources.com

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CBLT Closes Financing

CBLT Inc. (TSXV: CBLT) (“CBLT”) announces it has closed on its previously announced intention to effect a flowthrough financing in an amount of $53,202 (fifty-three thousand two hundred and two dollars) by issuing 886,700 Flowthrough Units priced at $0.06 (six cents) per Flowthrough Unit. Each Flowthrough Unit comprises of one flowthrough share and one full 9-cent warrant with a 24-month term, with each 9-cent warrant being exercisable into a flowthrough common share. A finder’s fee equal to $1,974 was paid to a registrant related to this financing.

CBLT also announces its has closed on its previously announced intention to carry out a hard dollar financing in an amount of $15,000 (fifteen thousand dollars) by issuing 250,000 Common Units priced at $0.06 (six cents) per Common Unit. Each Common Unit comprises of one common share and one full 8-cent warrant with a 24-month term, with each such 8-cent warrant being exercisable into one common share.

The intended use of proceeds from the Flowthrough Units is to perform qualifying work at CBLT’s existing properties and those that may be acquired in 2021. The intended use of proceeds from the Common Units is general corporate purposes.

CBLT also announces that it has been advised by Ready Set Gold Corp. (“RDY”) that RDY has received final approval to list its common shares on the Canadian Securities Exchange. Trading is anticipated to commence trading on or about Monday, January 11, 2021 under the symbol “RDY”.

CBLT owns 1,833,333 shares (approximately 6.1%) of RDY. CBLT has received its first release from escrow of 458,333 free-trading shares. There are three remaining escrow releases of the same number of shares, to take place on or about April 18, June 18 and August 18, all in 2021. RDY’s last financing was carried out at $0.75 (seventy-five cents) per share (FT).

RDY Highlights:

  • A basket of gold projects in the Hemlo area in Ontario with a focus on high-grade gold exploration and development potential, including the 100% owned Northshore Gold Project hosting Indicated Resources of 391,000 oz Au in 12.36 million tonnes at a grade of 0.99 g/t and Inferred Resources of 824,000 oz Au in 29.58 million tonnes at 0.87 g/t Au using a cut-off grade of 0.50 g/t Au. (NI43-101 Technical Report – 2014)
  • A proven team of public company executives and explorers focusing on profitable exits for shareholders
  • Low share float of 29.8 million shares outstanding and 37.1 million shares fully diluted

CBLT also announces it will not be proceeding with the previously announced Werner Lake acquisition at this time. Road access to Werner Lake is only from Ontario through Manitoba and back into Ontario to reach the property. This access issue means CBLT has not been able to and for the foreseeable future will not be able to complete its technical due diligence until the easing of restrictions related to SARS-CoV-2 and COVID-19, and as a result management cannot deliver a complete due diligence report to CBLT’s board of directors.

CBLT continues to review other M&A opportunities and, as instructed by the shareholders at the Annual and Special Shareholder Meeting held August 31, 2020, to consider the diversification of CBLT’s growth plan into other business areas.

CONTACT INFORMATION
Peter M. Clausi
CEO and Director
1 416 890 1232
pclausi@cbltinc.com
@ClausiPeter

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

This news release contains certain statements that constitute forward-looking statements as they relate to CBLT and its management. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “should”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, CBLT will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, CBLT assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to; SARS-CoV-2; reliance on key personnel; shareholder and regulatory approvals; First Nations and other local communities; risks of future legal proceedings; income tax matters; availability and terms of financing; distribution of securities; commodities pricing; environmental issues; effect of market interest on price of securities; and, potential dilution.

CBLT’s operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.

info

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GR Silver Mining Reports Wide and High-Grade Zones from New Underground Drilling in the Plomosas Mine Area:


  • 83 m @ 420 g/t AgEq1, including
  • 11 m @ 1,596 g/t AgEq, and
  • 4 m @ 1,319 g/t AgEq

GR Silver Mining Ltd(TSXV: GRSL) (FRANKFURT: GPE) (OTCQB: GRSLF) (“GR Silver Mining” or the “Company”) – is pleased to report wide and high-grade drill results from the Company’s underground core drilling program in the Plomosas Mine Area, as well as validation sampling results from historic drilling, at its 100%-owned Plomosas Silver Project (“Plomosas Project”) in Sinaloa, Mexico.

The underground drilling program is targeting bulk tonnage-style mineralization in the Plomosas Mine Area (following the Company’s recent discovery at level 775, approximately 250 m below surface) aiming to delineate high margin precious and base metals mineralization with potential for large tonnage and scalability.

The successful underground exploration drilling program at the Plomosas Mine Area has discovered extensions to the wide mineralization previously sampled at level 775, both below, and laterally to, previously mined areas. The mineralization is represented by thick intercepts of Au-Ag-Pb-Zn-Cu mineralization hosted in a series of hydrothermal breccias.

Drill intercept highlights from recently completed hole PLI20-042 include (see also Table 1):

  • 83.0 m @ 420 g/t AgEq (2.52 g/t Au, 33 g/t Ag, 0.9 % Pb, 2.9 % Zn and 0.3 % Cu, from 98.0 to 181.0 m), including:
    • 4.0 m @ 1,319 g/t AgEq (9.35 g/t Au, 38 g/t Ag, 0.4 % Pb, 10.5 % Zn and 0.3 % Cu); and
    • 11.0 m @ 1,596 g/t AgEq (9.41 g/t Au, 135 g/t Ag, 5.7 % Pb, 9.8 % Zn and 0.5 % Cu)

_________________________

1

AgEq is based on long term gold, silver, zinc, lead and copper prices of US$1600 per ounce gold, US$16.50 per ounce silver, US$0.85 per pound zinc, US$0.95 per pound lead and US$3.00 per pound copper. The metallurgical recoveries are assumed as 90% Ag, 95% Au, 78% Pb, 70% Zn and 70% Cu.

2

As final interpretation of the 3D orientation of mineralization is incomplete, true widths are unknown at this time and are reported as drilled widths.

Two oriented underground core drill holes (PLI20-03, PLI20-04), drilled by GR Silver Mining, have provided important geological, structural and mineralization data, thus aiding the interpretation of these wide, high-grade zones. This data is assisting in the investigation of additional broad zones of sulphide-rich (sphalerite, galena and chalcopyrite) mineralization hosted in structurally controlled hydrothermal breccias in the Plomosas Mine Area (link to core photos).

Four historic underground drill holes (PLI17-05, PLI17-08, PLI17-15 and PLI17-16), located nearby, were also validated with new sampling by GR Silver Mining. All data and additional new sample results are being incorporated into a 3D geological model (Figure 1).

GR Silver Mining President and CEO, Marcio Fonseca, commented, “These are extraordinary drilling results from the Plomosas Mine Area, indicating potential for size and scalability in the geological model to host attractive precious and base metals mineralization in areas close to existing underground development. We will continue with underground drilling in the vicinity of this polymetallic mineralization in 2021 and will also apply the technical knowledge to look for similar mineralization in other targets in the Plomosas Silver Project.”

The drill hole PLI20-04 represents a 25 m step-out from the previously released high grade discovery  at the deepest level (775m RL) of the Plomosas Mine Area (see News Release dated 28 September, 2020). The step-out area displays an intersection of two fault systems: the low angle N-S trending Plomosas Fault and high angle NE oriented faults (see cross section 2551950N).

The wide mineralized zone is mainly comprised of high-grade Au-Ag-Pb-Zn hydrothermal breccia, with late disseminated chalcopyrite (Cu) – pyrite rich veins/veinlets. A pervasive chalcopyrite-pyrite quartz stockwork system is common not only on the footwall, but also on the hanging wall of the mineralized hydrothermal breccia. This system is apparently hosted by the two fault systems and also by specific geological units, oxidized andesites and andesitic tuffs, defining a prospective corridor along strike. A similar style of mineralization was recently mapped in the upper levels of the Plomosas Mine Area and is currently the subject of detailed exploration. Based on the recent underground drilling results, GR Silver Mining is continuing the investigation of all historical underground sampling in order to delineate new zones for drilling, aiming to incorporate all new areas in the upcoming NI 43-101 resource estimation.

Table 1 and 2 summarize the most significant assay results for the underground drill holes reported in this News Release.

Table 1: Underground Drill Hole Results – News Release January 05, 2021 (Plomosas Mine Area)

Hole No.

Type

From (m)

To (m)

Drilled width (m)

Ag g/t

Au g/t

Pb %

Zn %

Cu %

AgEq g/t

PLI20-03

UG

No significant assays

PLI20-04

UG

98.0

181.0

83.0

33

2.52

0.9

2.9

0.3

420

includes

99.0

103.0

4.0

38

9.35

0.4

10.5

0.3

1,319

139.0

150.0

11.0

135

9.41

5.7

9.8

0.5

1,596

Table 2: Historic Underground Drill Hole Results – News Release January 5, 2021 (Plomosas Mine Area)

Hole No.

Type

From (m)

To (m)

Drilled width (m)

Ag g/t

Au g/t

Pb %

Zn %

Cu %

 AgEq g/t

PLI17-05

UG

120.0

125.0

5.0

58

na

na

na

na

PLI17-08

UG

80.0

98.7

18.7

31

0.21

1.5

1.6

na

152

includes

91.0

95.6

4.6

88

0.73

5.8

5.3

0.1

512

PLI17-15

UG

0.0

41.1

41.1

14

0.35

1.5

2.8

na

180

PLI17-16

UG

0.0

32.1

32.1

6

0.39

1.9

1.9

na

As final interpretation of the 3D orientation of mineralization is incomplete, true widths are unknown at this time and are reported as drilled widths. AgEq is based on long term gold, silver, zinc and lead prices of US$1600 per ounce gold, US$16.50 per ounce silver, US$0.85 per pound zinc, US$0.95 per pound lead and US$2.00 per pound copper. The metallurgical recoveries are assumed as 90% Ag, 95% Au, 78% Pb, 70% Zn.and 70% Cu. “na” = no relevant assays. All numbers are rounded. Results are uncut and undiluted. UG: Underground Drill Hole, SURF: Surface Drill Hole

The following table (Table 3) summarizes the collar locations for drill holes identified in this News Release.

Table 3: Drill Hole Locations – News Release January 5, 2021 (Plomosas Mine Area)

Hole No.

East (m)

North (m)

RL (m)

Azimuth

Dip

Depth (m)

PLI20-03

451152

2551934

748

270

-10

165

PLI20-04

451152

2551934

748

270

-30

230

PLI17-05

451022

2551887

705

0

-45

125

PLI17-08

450917

2551891

705

56

-45

159

PLI17-15

451022

2551887

705

0

-45

124

PLI17-16

451023

2551886

705

25

-55

104

All numbers are rounded.

GR Silver Mining believes that the Plomosas Mine Area is part of a much larger low sulphidation epithermal system as indicated by field evidence along one kilometre of strike length, where only 400 m of that strike had previously been drilled. The 2020 underground and surface exploration program defined multiple styles of mineralization, creating an opportunity for the Company to continue discovering new mineralized zones close to the surface.

Qualified Person

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

Quality Assurance Program and Quality Control Procedures (“QA/QC”)

The Company has implemented QA/QC procedures which include insertion of blank and standard samples in all sample lots sent to SGS de México, S.A. de C.V laboratory facilities in Durango, Mexico, for sample preparation and assaying. For every sample with results above Ag >100 ppm (over limits), these samples are submitted directly by SGS de Mexico to SGS Canada Inc at Burnaby, BC. The analytical methods are 4-acid Digest and Inductively Coupled Plasma Optical Emission Spectrometry with Lead Fusion Fire Assay with gravimetric finish for silver above over limits. For gold assays the analytical methods are Lead Fusion and Atomic Absorption Spectrometry Lead Fusion Fire Assay and gravimetric finish for gold above over limits.

The recent drill holes, completed by First Majestic from 2016 to 2018, followed QA/QC protocols reviewed and validated by GR Silver Mining, including insertion of blank and standard samples in all sample lots sent to First Majestic’s Laboratorio Central facilities in La Parilla, Durango, for sample preparation and assaying. Additional validation and check assays were performed by an independent laboratory at SGS de México, S.A. de C.V. facilities in Durango, Mexico. The analytical methods applied for these recent holes for Ag and Au assays comprised of Fire Assay with Atomic Absorption finish for samples above Au >10ppm and Ag >300ppm and Gravimetric Finish. Pb and Zn were analyzed using Inductively Coupled Plasma Optical Emission Spectrometry. GR Silver Mining has not received information related to the Grupo Mexico QA/QC and assay protocols and at this stage is considering the information historic for news release purposes.

About GR Silver Mining Ltd.

GR Silver Mining Ltd. is a Mexico-focused company engaged in cost-effective silver-gold resource expansion on its key assets which lie on the eastern edge of the Rosario Mining District, Sinaloa, Mexico.

PLOMOSAS SILVER PROJECT

GR Silver Mining owns 100% of the Plomosas Silver Project located near the historic mining village of La Rastra, within the Rosario Mining District. The Project is a past-producing asset where only one mine, the Plomosas silver-gold-lead-zinc underground mine, operated a 600 tpd crush milling flotation circuit from 1986 to 2001, producing approximately 8 million ounces of silver, 73 million pounds of lead and 28 million pounds of zinc.

The Project has an 8,515-hectare property position and is strategically located within 5 km of the Company’s San Marcial Silver Project in the southeast of Sinaloa State, Mexico.

The March 2020 acquisition of the Plomosas Silver Project included 563 historical and recent drill holes from both surface and underground locations. These drill holes represent an extensive database allowing the Company to advance towards resource estimation and potential project development in the near future.

The Company has commenced an 11,900 m drilling program with surface holes focused on expanding known mineralization along strike in two initial areas, the Plomosas Mine Area and the San Juan Area. Underground drilling included in the program will target the extension of recent polymetallic discoveries at the lowest level (775 m RL, or ~250 m below surface) of the Plomosas Mine Area and six low sulphidation epithermal veins at San Juan Area. Both areas will be the subject of NI 43-101 resource estimations following completion of this drill program.

The 100%-owned assets include all facilities and infrastructure including: access roads, surface rights agreement, water use permit, 8,000 m of underground workings, water access, 60 km – 33 KV power line, offices, shops, 120-person camp, infirmary, warehouses and assay lab representing approximately US$30 million of previous capital investments. The previous owners invested approximately US$18 million in exploration, including extensive geophysics and geochemistry programs.

The silver and gold mineralization on this Project display the alteration, textures, mineralogy and deposit geometry characteristics of a low sulphidation epithermal silver-gold-base metal vein/breccia mineralized system. Previous exploration was focused on Pb-Zn-Ag-Au polymetallic shallow mineralization, hosted in NW-SE structures in the vicinity of the Plomosas mine. The E-W portion of the mineralization and extensions for the main N-S Plomosas fault remain under-explored.

In addition to the resource potential at Plomosas, a review of the existing drill hole database, geophysical surveys and geochemical data covering most of the concession, has defined 16 new exploration targets from which 11 have high priority for future exploration programs.

SAN MARCIAL PROJECT

San Marcial is a near-surface, high-grade silver-lead-zinc open pit-amenable project, which contains a 36 Moz AgEq (Indicated) and 11 Moz AgEq (Inferred) NI 43-101 resource estimate. The company recently completed over 320 m of underground development in the San Marcial Resource Area, from which underground drilling is planned to expand the high-grade portions of the resource down dip. The Company recently discovered additional mineralization in the footwall, outside of the existing resource, and will also be drilling this area. GR Silver Mining is the first company to conduct exploration at San Marcial in over 10 years. The NI 43-101 resource estimate (San Marcial Project – Resource Estimation and Technical Report) was completed by WSP Canada Inc. on March 18, 2019 and amended on June 10, 2020.

Recent exploration has identified silver and gold mineralization in areas previously defined as non-mineralized, discovering evidence of pervasively altered rocks with intense silicification, veining and associated wide, silver and gold mineralized zones on the footwall of the NI 43-101 resource.

Plomosas and San Marcial collectively represent a geological setting resembling the multimillion-ounce San Dimas Mining District which has historically produced more than 600 Moz silver and 11 Moz gold over a period of more than 100 years.

OTHER PROJECTS

GR Silver Mining’s other projects are situated in areas attractive for future discoveries and development in the same vicinity of Plomosas and San Marcial in the Rosario Mining District.

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

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

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements 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.

SOURCE GR Silver Mining Ltd.

For further information: For Further Information: Contact: +1 (604) 202 3155, Email: info@grsilvermining.com

Related Links

http://www.grsilvermining.com/

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Eloro Resources Announces Filing of Final Short Form Prospectus and Exercise of Over-Allotment Option by Underwriters

Eloro Resources Ltd. (the “Company” or “Eloro”) (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) is pleased to announce that, in connection with its previously announced bought deal financing (the “Financing”) (see Eloro press releases dated December 16, 2020 and December 9, 2020), it has filed a final short form prospectus with the applicable securities regulators in each of the provinces of Canada, except Quebec. Under the terms of the Financing, Haywood Securities Inc., as lead underwriter, and Echelon Wealth Partners Inc. (the “Underwriters”) agreed to purchase, on a bought deal basis, 3,548,400 units (the “Units”) at a price of Cdn$1.55 per Unit for gross proceeds to the Company of Cdn$5,500,020.

Each Unit will consist of one common share (a “Common Share”) of the Company and one-half (1/2) of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”) of the Company. Each Warrant shall be exercisable to acquire one Common Share at a price of Cdn$2.00 for a period of 24 months from the closing date of the Financing.

In addition, under the terms of the Financing, the Company granted to the Underwriters an option (the “Over-Allotment Option”) to purchase up to 532,260 additional Units at a price of Cdn$1.55 per Unit, exercisable at any time, in whole or in part, until the date that is not later than the 30th day after the closing date of the Financing. The Underwriters have elected to exercise their Over-Allotment Option in full, such that the total number of Units to be sold in the Financing will be 4,080,660 Units at a price of Cdn$1.55 per Unit for total gross proceeds to the Company of Cdn$6,325,023.

The Company intends to use the majority of the net proceeds from the Financing for continued exploration of the Company’s Iska Iska project in Bolivia, including 10,000 metres of additional diamond drilling planned to be carried out on the property (6,000 metres of drilling at Santa Barbara/Huayra Kasa and 4,000 metres of initial drilling at the Central Breccia Pipe). To date, the Company’s drill program at Iska Iska has completed more than 4,800 metres of drilling in 19 underground and surface drill holes. Assay results for the first five drill holes were reported in the Company’s November 18, 2020 press release; assay results for the balance of the holes are pending.

The Financing is scheduled to close on or about January 5, 2021 and is subject to certain customary closing conditions.

The securities offered in the Financing have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Qualified Person

Dr. Bill Pearson, P.Geo., Chief Technical Advisor for Eloro and a Qualified Person as such term is defined in National Instrument 43-101, has reviewed and approved the technical content of this news release.

About Eloro

Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec. Eloro has an option to acquire a 99% interest in the highly prospective Iska Iska Property, which can be classified as a polymetallic epithermal-porphyry complex, a significant mineral deposit type in the Potosi Department, in southern Bolivia. Eloro commissioned a NI 43-101 Technical Report on Iska Iska, which was completed by Micon International Limited and is available on Eloro’s website and under its filings on SEDAR. Iska Iska is a road-accessible, royalty-free property. Eloro also owns an 82% interest in the La Victoria Gold/Silver Project, located in the North-Central Mineral Belt of Peru some 50 km south of Barrick’s Lagunas Norte Gold Mine and Pan American Silver’s La Arena Gold Mine. La Victoria consists of eight mining concessions and eight mining claims encompassing approximately 89 square kilometres. La Victoria has good infrastructure with access to road, water and electricity and is located at an altitude that ranges from 3,150 m to 4,400 m above sea level.

For further information, please contact either Thomas G. Larsen, Chairman and CEO, or Jorge Estepa, Vice-President, at (416) 868-9168.

Information in this news release may contain forward-looking information. Statements containing forward looking information express, as at the date of this news release, the Company’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company (forward-looking statements in this news release include, without limitation, statements regarding the completion of the Financing, the use of proceeds from the Financing and the Company’s exploration plans at the Iska Iska property). There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.

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.

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GR Silver Mining and Mako Amend Definitive Agreement date to January 31, 2021

GR Silver Mining Ltd. (TSXV: GRSL) (FRANKFURT: GPE) (OTCQB: GRSLF) (“GR Silver Mining” or the “Company”) and Mako Mining Corp. (“Mako” “@MakoMiningCorp”) have agreed to amend their Letter of Intent (“LOI”) dated December 12, 2019, to extend the date by which they are required to sign a Definitive Agreement to January 31, 2021.  Pursuant to the LOI, GR Silver and Mako agreed to negotiate an arm’s length transaction whereby GR Silver would acquire 100% of the issued and outstanding shares of Marlin Gold Mining Ltd from Mako and to enter into a Definitive Agreement on or before December 31, 2020 (News release dated December 17, 2019).

GR Silver Mining President and CEO, Marcio Fonseca, commented, “The Company and Mako are continuing to work towards finalizing the formal agreement and we believe this extension will provide us with the time required to come to final terms on the transaction.”

About GR Silver Mining Ltd.

GR Silver Mining Ltd. is a Mexico-focused company engaged in cost-effective silver-gold resource expansion on its key assets which lie on the eastern edge of the Rosario Mining District, Sinaloa, Mexico.

PLOMOSAS SILVER PROJECT

GR Silver Mining owns 100% of the Plomosas Silver Project located near the historic mining village of La Rastra, within the Rosario Mining District. The Project is a past-producing asset where only one mine, the Plomosas silver-gold-lead-zinc underground mine, operated from 1986 to 2001. The Project has an 8,515-hectare property position and is strategically located within 5 km of the Company’s San Marcial Silver Project in the southeast of Sinaloa State, Mexico.

The March 2020 acquisition of the Plomosas Silver Project included 563 historical and recent drill holes from both surface and underground locations. These drill holes represent an extensive database allowing the Company to advance towards resource estimation and potential project development in the near future.

The Company has commenced an 11,900 m drilling program with surface holes focused on expanding known mineralization along strike in two initial areas, the Plomosas Mine Area and the San Juan Area. Underground drilling included in the program will target the extension of recent polymetallic discoveries at the lowest level (775 m RL, or ~250 m below surface) of the Plomosas Mine Area and six low sulphidation epithermal veins at San Juan Area. Both areas will be the subject of NI 43-101 resource estimations following completion of this drill program.

The 100%-owned assets include all facilities and infrastructure including: access roads, surface rights agreement, water use permit, 8,000 m of underground workings, water access, 60 km – 33 KV power line, offices, shops, 120-person camp, infirmary, warehouses and assay lab representing approximately US$30 million of previous capital investments. The previous owners invested approximately US$18 million in exploration, including extensive geophysics and geochemistry programs.

The silver and gold mineralization on this Project display the alteration, textures, mineralogy and deposit geometry characteristics of a low sulphidation epithermal silver-gold-base metal vein/breccia mineralized system. Previous exploration was focused on Pb-Zn-Ag-Au polymetallic shallow mineralization, hosted in NW-SE structures in the vicinity of the Plomosas mine. The E-W portion of the mineralization and extensions for the main N-S Plomosas fault remain under-explored.

In addition to the resource potential at Plomosas, a review of the existing drill hole database, geophysical surveys and geochemical data covering most of the concession, has defined 16 new exploration targets from which 11 have high priority for future exploration programs.

SAN MARCIAL PROJECT

San Marcial is a near-surface, high-grade silver-lead-zinc open pit-amenable project, which contains a 36 Moz AgEq (Indicated) and 11 Moz AgEq (Inferred) NI 43-101 resource estimate. The company recently completed over 320 m of underground development in the San Marcial Resource Area, from which underground drilling is planned to expand the high-grade portions of the resource down dip. The Company recently discovered additional mineralization in the footwall, outside of the existing resource, and will also be drilling this area. GR Silver Mining is the first company to conduct exploration at San Marcial in over 10 years. The NI 43-101 resource estimate (San Marcial Project – Resource Estimation and Technical Report) was completed by WSP Canada Inc. on March 18, 2019 and amended on June 10, 2020.

Recent exploration has identified silver and gold mineralization in areas previously defined as non-mineralized, discovering evidence of pervasively altered rocks with intense silicification, veining and associated wide, silver and gold mineralized zones on the footwall of the NI 43-101 resource.

Plomosas and San Marcial collectively represent a geological setting resembling the multimillion-ounce San Dimas Mining District which has historically produced more than 600 Moz silver and 11 Moz gold over a period of more than 100 years.

OTHER PROJECTS

GR Silver Mining’s other projects are situated in areas attractive for future discoveries and development in the same vicinity of Plomosas and San Marcial in the Rosario Mining District.

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

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

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements 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.

SOURCE GR Silver Mining Ltd.

For further information: +1 (604) 202 3155, Email: info@grsilvermining.com

Related Links

http://www.grsilvermining.com/

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Tocvan Completes Phase One Drilling and Provides Update

Tocvan Ventures Corp. (CSE:TOC) (CNSX:TOC.CN) (“Tocvan” or the “Corporation”) is pleased to announce the completion of its maiden drill program (the “Program”) at the Pilar Gold-Silver Project in Sonora, Mexico. A total of 1,505 meters of reverse circulation (RC) drilling was completed in nine (9) drill holes. All samples have been submitted to the lab in Hermosillo, results are expected in early 2021 and will be released in batches as they are received.

 

The Phase I program was designed to provide important structural information for defining drill targets along the main mineralized trend and across the deep-seated feeder-pipe like structures interpreted from geophysics. As the Corporation looks to continue the advancement of the Pilar Project, a Phase II drill program to test these targets is planned for early 2021.

 

“The ability to efficiently execute our first drill program at Pilar is an important milestone for Tocvan.” commented President and CEO Derek Wood. “As we await drill results, planning has begun for the next phase of exploration. 2021 will be an important year for the Corporation as we look forward to the continued advancement of Pilar.”

 

A video of the drill program can be found here:

  

Review of 2020

 

Just a little over a year ago Tocvan finalized their agreement to acquire up to 100% of the Pilar gold project located in the Sonora state of Mexico. What attracted Tocvan to the Pilar property was the amount of successful drilling that had occurred on a very concentrated area of the Pilar property. 17,700 meters of previous drilling from surface to a maximum depth of just 150 meters led management to believe the property likely contained an at surface deposit amenable to an open pit within the known mineralized zone.  Tocvan completed detailed geophysical and ground analysis of the property prior to defining drill targets and making application for drilling. Most of the year was spent gaining valuable information relating to structure of the epithermal system as well as identifying brand new targets never explored on the property. Exploration progress at Pilar over the last year included:

 

  • – Discovery of High-Grade Gold & Silver Surface Mineralization at Two New Showings, extending Known Mineralized Trends: Highlights included 323 g/t Silver & 9.3 g/t Gold

Please see news release dated Jan 7th 2020

  • – Geophysical Survey Results identified Several New Targets not previously explored

Please see news release dated May 20th 2020

  • – Results from Property Scale Soil Survey, Included Highest Soil Results to Date with 8 g/t Gold & 317 g/t Silver at New East Zone Discovery

Please see news release from June 24th 2020

  • – Initial Results from Structural Analysis; Identified possible Major Structures or “Plumbing” for Gold Silver-Mineral-Rich Fluids

Please see news release from September 29th 2020

  • – Commenced Drill Program at the Pilar Project in Sonora

Please see news release from Dec 1st 2020

        

Tocvan also had great corporate developments over the past year, these included:

 

  • – Adding depth to the Board of Directors with the appointment of Fred Jones;

    – In February, Tocvan Closed on the first private placement financing since their IPO;

    – In August, approximately 95% of the outstanding IPO warrants exercised. Providing necessary working capital;

    – Appointment of Brodie Sutherland to VP Exploration;

    – Adding Donn Lovett as Strategic Advisor

Derek Wood CEO commented that “We are very pleased with the success Tocvan has enjoyed over the last year in terms of de-risking the Pilar project while strengthening management and managing finances to minimize shareholder dilution. Although the shares have already rewarded early investors, we still believe that the current valuation represents tremendous value as we continue to de-risk the Pilar project and move towards demonstrating Pilar as both near term production story and an exciting exploration opportunity. Tocvan also plans to move forward this year advancing the Roger Creek property located in Southern British Columbia. Rogers Creek is a large property showing promise for a potential porphyry copper-gold discovery. Tocvan remains committed to maximizing shareholder value by further de-risking advanced explorations assets with minimal dilution to their enviable capital structure.”

 

Exploration and work towards the development of Pilar will continue in 2021. Following the receipt of Phase I drill results expected early in the new year, a Phase II drill program will be designed to test deeper drill targets and continue the expansion of the known mineralized trends. In addition, metallurgical work to determine the amenability for potential heap leaching is planned. Surface exploration work will continue with mapping and sampling along the expanded mineralized trends recently defined by soil and rock sampling.

    

About the Pilar Property

The Pilar Gold-Silver property is interpreted as a structurally controlled low-sulphidation epithermal project hosted in andesite and rhyolite rocks. Hydrothermal fluids carrying gold, silver and other elements are transported through the pre-existing structures and precipitate from the fluids to become mineralized veins within the structures and surrounding host rock. 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 17,700m of drilling have been completed to date. Significant results are highlighted below from previous operators:

  • – 17,700m of Core & RC drilling. Highlights include (all lengths are drilled thicknesses):
    • – 0.73g/t Au over 40m

      – 0.75g/t Au over 61m

      – 17.3g/t Au over 1.5m

      – 5.27g/t Au over 3m

      – 53.47g/t Au & 53.4g/t Ag over 16m

      – 9.64g/t Au over 13m

      – 10.6g/t Au & 37.8g/t Ag over 9m

    – 2,650m of surface and trench channel sampling. Highlights include:

    • – 55g/t Au over 3m

      – 28.6g/t Au over 6m

      – 3.39 g/t Au over 50m

    – Soil sampling results from undrilled areas indicating mineralization extends towards the southeast from the Main Zone, North Hill Zone, and 4-Trench Zone


Click Image To View Full Size

 

Figure 1. 3D Inversion processed from Induced Polarization (IP) geophysics survey showing interpreted feeder-pipe structures.

Additional areas of mineralization have been identified from surface rock-grab-sample assay results that extend known mineralized trends and show a second NW-SE trend of mineralization to the east parallel to the trending zone described above; gold-silver mineralization is indicated across the property from the north to the south, see press release dated January 7, 2020.


Click Image To View Full Size

 

Figure 2. Results from 2020 Surface Sampling at Pilar Au-Ag Project. Showing existing zones and trends of mineralization, along with the recently discovered East Zone of mineralization showing high grade silver.

  

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 mining company. Tocvan was created 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 Ventures Currently has approximately 24.5 million shares outstanding and is earning into two exciting opportunities. The Pilar Gold project in the Sonora state of Mexico and the Rogers Creek project in Southern British Columbia, Management feels both projects represent tremendous opportunity.

  

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 using 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 because 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 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) 200-3569

Email:  dwood@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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Eloro Resources Announces Filing of Preliminary Short Form Prospectus

 Eloro Resources Ltd. (the “Company” or “Eloro”) (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) is pleased to announce that, in connection with its previously announced bought deal financing (see Eloro press releases dated December 9, 2020), it has filed a preliminary short form prospectus with the applicable securities regulators in each of the provinces of Canada, except Quebec. Under the terms of the financing, Haywood Securities Inc., as lead underwriter, and Echelon Wealth Partners Inc. (the “Underwriters”) have agreed to purchase, on a bought deal basis, 3,548,400 units (the “Units”) at a price of Cdn$1.55 per Unit (the “Issue Price”) for gross proceeds to the Company of Cdn$5,500,020 (the “Offering”).

Each Unit will consist of one common share (a “Common Share”) of the Company and one-half (1/2) of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”) of the Company. Each Warrant shall be exercisable to acquire one Common Share at a price of Cdn$2.00 for a period of 24 months from the closing date of the Offering.

In addition, the Company has agreed to grant to the Underwriters an option to purchase up to an additional 15% of the number of Units sold under the Offering at a price per Unit equal to the Issue Price, on the same terms and conditions as the Offering, exercisable at any time, in whole or in part, until the date that is 30 days following the closing of the Offering.

The Company intends to use the majority of the net proceeds from the Offering for continued exploration of the Company’s Iska Iska project in Bolivia, including 10,000 metres of additional diamond drilling planned to be carried out on the property (6,000 metres of drilling at Santa Barbara/Huayra Kasa and 4,000 metres of initial drilling at the Central Breccia Pipe). To date, the Company’s drill program at Iska Iska has completed more than 4,800 metres of drilling in 19 underground and surface drill holes. Assay results for the first five drill holes were reported in the Company’s November 18, 2020 press release; assay results for the balance of the holes are pending.

The Offering is scheduled to close on or about December 30, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Venture Exchange and applicable securities regulatory authorities.

The preliminary short form prospectus is still subject to completion or amendment. A copy of the preliminary short form prospectus is available electronically at www.sedar.com. There will not be any sale of or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.

The securities offered in the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Qualified Person

Dr. Bill Pearson, P.Geo., Chief Technical Advisor for Eloro and a Qualified Person as such term is defined in National Instrument 43-101, has reviewed and approved the technical content of this news release.

About Eloro

Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec. Eloro has an option to acquire a 99% interest in the highly prospective Iska Iska Property, which can be classified as a polymetallic epithermal-porphyry complex, a significant mineral deposit type in the Potosi Department, in southern Bolivia. Eloro commissioned a NI 43-101 Technical Report on Iska Iska, which was completed by Micon International Limited and is available on Eloro’s website and under its filings on SEDAR. Iska Iska is a road-accessible, royalty-free property. Eloro also owns an 82% interest in the La Victoria Gold/Silver Project, located in the North-Central Mineral Belt of Peru some 50 km south of Barrick’s Lagunas Norte Gold Mine and Pan American Silver’s La Arena Gold Mine. La Victoria consists of eight mining concessions and eight mining claims encompassing approximately 89 square kilometres. La Victoria has good infrastructure with access to road, water and electricity and is located at an altitude that ranges from 3,150 m to 4,400 m above sea level.

For further information please contact either Thomas G. Larsen, Chairman and CEO, or Jorge Estepa, Vice-President, at (416) 868-9168.

Information in this news release may contain forward-looking information. Statements containing forward looking information express, as at the date of this news release, the Company’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company (forward-looking statements in this news release include, without limitation, statements regarding the completion of the Offering, the use of proceeds from the Offering and the Company’s exploration plans at the Iska Iska property). There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.

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.

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GR Silver Mining Reports Significant Drill Results at the Plomosas Silver Project:


  • 4.2 m @ 778 g/t AgEq1
  • 16.0 m @ 254 g/t AgEq, including 4.0 m @ 429 g/t AgEq
  • 25.7 m @ 200 g/t AgEq
  • 7.3 m @ 800 g/t AgEq
  • 1.0 m @ 1,807 g/t AgEq

VANCOUVER, BCDec. 15, 2020 /CNW/ – GR Silver Mining Ltd. (TSXV: GRSL) (FRANKFURT: GPE) (OTCQB: GRSLF) (“GR Silver Mining” or the “Company”) – is pleased to report drill results from the Company’s recently announced surface and underground core drilling program in the Plomosas Mine Area, as well as validation sampling results from historic drilling at its 100%-owned Plomosas Silver Project (“Plomosas Project”) in Sinaloa, Mexico.

Two underground drill holes (PLI20-01, PLI20-02) drilled by GR Silver Mining have confirmed attractive new mineralized zones in the footwall and hanging wall of previously mined areas in the Plomosas Mine Area. These areas were previously thought to be barren wall rock zones. The surface drill hole (PLS20-04), also drilled by the Company, has identified the presence of a wide polymetallic (lead-zinc) mineralized zone along strike from recently drilled areas, supporting ongoing surface work to expand shallow resources.

Our ongoing review and validation of historic data (SD-62 and SD-63) has confirmed the presence of Au-Cu rich mineralization in other levels of the Plomosas Mine Area (similar to the Zone 775 Discovery – see News Release dated September 28, 2020). In addition, the review has confirmed the presence of massive sulphide (sphalerite-galena) narrow veins in historic workings (PD-121) in the Plomosas Mine Area, presenting a new target for future underground drilling along strike and down dip.

The integration of current drilling results with sampling and validation of historic data, has proved to be a valuable tool to support ongoing resource modelling, identifying potential areas to delineate additional underground resources and near surface resources.

The drilled area represents a highly prospective mineralized system incorporating multiple mineralization styles. The system is open for expansion along strike and down dip (see Figure 1). GR Silver Mining’s current underground drilling has identified the presence of high-grade narrow Ag-Au-Pb-Zn hydrothermal breccias, as well as multiple precious and base metal rich veinlets on the hanging wall of the Plomosas Fault. The hanging wall zone has defined a mineralized corridor ranging from 20 m to 50 m thick (Link to Section). The broad geometry of this structural corridor provides opportunity for delineation of high volume, bulk mineable style mineralization as part of the ongoing resource modelling process.

The review, sampling and validation of the historical data has also revealed Au-Cu rich zones and narrow massive sphalerite-galena veins in the vicinity of high-grade polymetallic (Au-Cu-Ag-Pb-Zn) sulphide-rich mineralization, which was discovered during initial underground channel sampling on the lower (775m RL) level of the Plomosas Mine.

GR Silver Mining President and CEO, Marcio Fonseca, commented, “The assays resulting from GR Silver Mining’s current Plomosas drilling program continue to validate the presence of a large hydrothermal system at the Plomosas Mine Area. They have identified a wide mineralized corridor on the hanging wall of the Plomosas Fault with attractive precious and base metals grades. Our integration of the recent and historic drilling data continues to define new Au-Cu-Ag-Pb-Zn mineralized structures and is discovering several attractive, near surface Pb-Zn zones. The integration of all data for the first time in a 3D model, is a valuable exploration tool to maximize the opportunity to continue to drill and expand the footprint of the potential resource area.”

Based on the recent underground and surface drilling results, GR Silver Mining has added another drill rig on site. The Company currently has five drill rigs operating at the Plomosas Project: three at the Plomosas Mine Area and two at the San Juan Area. The initial 4,500 m surface core drilling program (see News Release dated July 15, 2020), has been increased to 11,900 m, aiming to delineate a much larger initial resource footprint in both areas.

The Company has recently completed processing of an aeromagnetic and ground geophysical (IP) survey in both areas, with positive results identifying new anomalies in areas outside of the historic underground workings.

Table 1 summarizes the latest, most significant assay results for the Company’s drilling program.

Table 1: Summary 2020 Surface-Underground Drill Hole Results – News Release December 15, 2020 (Plomosas Mine Area)

PLOMOSAS DRILLING PROGRAM 2020

Hole No.

Type

From
(m)

To
(m)

Drilled
width
(m)

Est.
true
width
(m)

Ag g/t

Au g/t

Pb %

Zn %

Cu %

AgEq g/t

PLI20-01

UG

0.0

16.0

16.0

16.0

30

0.01

1.3

2.8

254

includes

0.0

4.0

4.0

4.0

55

0.01

4.0

8.3

429

PLI20-02

UG

3.4

35.4

32.0

32.0

18

0.30

1.0

1.7

130

includes

3.4

7.6

4.2

4.2

107

1.70

6.6

9.6

0.2

778

AgEq is based on long term gold, silver, zinc and lead prices of US$1600 per ounce gold, US$16.50 per ounce silver, US$0.85 per pound zinc, US$0.95 per pound lead and US$2.00 per pound copper. The metallurgical recoveries are assumed as 90% Ag, 95% Au, 78% Pb, 70% Zn.and 70% Cu.  “na” = no relevant assays. All numbers are rounded. Results are uncut and undiluted. UG: Underground Drill Hole, SURF: Surface Drill Hole

The review and validation of historic data is an important component of the upcoming resource modelling, due to its location on the surface and in the underground areas. The Company continues to release this historic information as validation is completed on site. Table 2 summarizes the most significant drill assay results for historic drilling data for this News Release.

Table 2: Summary Surface-Underground Historic Drill Hole Results – News Release December 15, 2020 (Plomosas Mine Area)

HISTORIC DRILLING DATA**

Hole No.

Type

From
(m)

To
(m)

Drilled
width
(m)

Est.
true
width
(m)

Ag g/t

Au g/t

Pb %

Zn %

Cu %

 AgEq g/t

SD-58

SURF

256.1

282.0

25.9

25.5

9

na

0.5

0.8

0.2

SD-62

SURF

307.2

332.9

25.7

25.3

31

0.12

0.8

1.4

1.3

200

SD-66

SURF

271.0

273.4

2.4

2.4

7

1.63

0.2

2.5

na

297.8

308.2

10.4

10.4

12

0.27

2.2

1.4

na

318.0

345.8

27.9

27.8

17

0.12

0.7

0.9

na

351.4

366.9

15.5

15.4

17

1.19

0.6

1.1

na

SD-67

SURF

84.6

91.8

7.3

6.1

115

1.04

11.3

5.4

0.7

800

99.9

107.2

7.3

6.1

11

0.10

0.6

2.7

na

SD-69

SURF

96.6

111.9

15.3

15.0

59

0.13

0.3

0.6

0.4

125

SD-71

SURF

133.4

137.3

4.0

3.9

297

na

3.9

0.2

na

436

SD-74

SURF

74.4

84.2

9.8

7.0

106

0.86

11.2

2.8

0.4

680

102.8

142.5

39.7

39.1

13

0.16

0.8

1.2

na

158

UG

0.0

7.0

7.0

6.8

21

0.32

2.9

2.4

na

219

PD-121

UG

47.5

48.5

1.0

0.9

72

2.80

27.5

18.5

na

1,807

** Drilling Program completed by Grupo Mexico

AgEq is based on long term gold, silver, zinc and lead prices of US$1600 per ounce gold, US$16.50 per ounce silver, US$0.85 per pound zinc, US$0.95 per pound lead and US$2.00 per pound copper. The metallurgical recoveries are assumed as 90% Ag, 95% Au, 78% Pb, 70% Zn.and 70% Cu.  “na” = no relevant assays. All numbers are rounded. Results are uncut and undiluted. UG: Underground Drill Hole, SURF: Surface Drill Hole

The Company continues to review and sample attractive new zones of mineralization in historical holes that were previously un-sampled. This has identified new mineralized zones providing additional surface and underground targets for the current drill program at the Plomosas Mine Area. Table 3 highlights sampling of historical holes related to the current News Release.

Table 3: Summary Sampling Results Historical Core – News Release December 15, 2020 (Plomosas Mine Area)

SAMPLING OF AVAILABLE UN-SAMPLED CORE***

Hole No.

Type

From
(m)

To
(m)

Drilled
width
(m)

Est.
true
width
(m)

Ag g/t

Au g/t

Pb %

Zn %

AgEq
g/t

PLI16-03

UG

148.9

152.8

4.0

3.9

17

0.04

0.1

0.2

PLI16-04

UG

280.9

301.7

20.9

20.2

4

0.06

0.1

0.2

*** Drilling Program completed by First Majestic

AgEq is based on long term gold, silver, zinc and lead prices of US$1600 per ounce gold, US$16.50 per ounce silver, US$0.85 per pound zinc, US$0.95 per pound lead and US$2.00 per pound copper. The metallurgical recoveries are assumed as 90% Ag, 95% Au, 78% Pb, 70% Zn.and 70% Cu.  “na” = no relevant assays. All numbers are rounded. Results are uncut and undiluted. UG: Underground Drill Hole, SURF: Surface Drill Hole

The Plomosas Mine Area has a series of surface outcrops representing quartz stockwork veining and locally hydrothermal breccias hosted in a Tertiary bimodal volcanic (andesitic-rhyolitic) sequence, commonly intruded by rhyolitic dykes. Structurally, the area is marked by a series of high angle NW trending faults which are commonly intersecting the N-S low angle Plomosas Fault, a common host structure for Ag-Au-Pb-Zn polymetallic hydrothermal breccias. Alteration is mainly represented by a propylitic assemblage containing chlorite-epidote-quartz-pyrite and abundant specular hematite. Locally, on surface, argillic alteration halos and large oxidized zones are observed, a result of previous accumulation of pyrite and other sulphides. The polymetallic mineralization is mainly represented by fine galena and sphalerite, common hematite-quartz cemented hydrothermal breccias and vein infill. Late-stage quartz Ag-Au epithermal veining is commonly observed overprinting Ag-Pb-Zn mineralization in the hydrothermal breccias. Table 4 provides collar co-ordinates for the drill holes presented in this News Release.

Table 4: Drill Hole Locations – News Release December 15, 2020 (Plomosas Mine Area)

Hole No.

East (m)

North (m)

RL (m)

Azimuth

Dip

Depth (m)

PLI20-01

451155

2551911

753

270

-30

90

PLI20-02

451155

2551911

753

270

-75

112

128

451061

2551906

751

0

-90

100

130

451044

2551898

759

80

-55

85

135

451420

2551881

927

90

-80

88

138

451421

2551881

927

90

-55

69

140

451422

2551881

927

90

-35

65

158

451157

2551921

766

270

30

117

PD-121

451063

2551905

753

90

-50

85

SD-58

451108

2551881

1036

270

-83

282

SD-62

450993

2551881

1018

90

-85

350

SD-66

450990

2551858

1010

0

-90

377

SD-67

451405

2551868

1011

0

-90

111

SD-69

451408

2551891

1010

270

-74

112

SD-71

450993

2551881

1018

270

-62

143

SD-73

451408

2551891

1011

270

-83

410

SD-74

451405

2551868

1011

90

-74

151

PLI16-03

450913

2551886

705

180

-75

242.6

PLI16-04

450913

2551885

705

183

-51

352.1

All numbers are rounded.

GR Silver Mining believes that the Plomosas Mine Area is part of a much larger low sulphidation epithermal system as indicated by field evidence along 1.0 km of strike length, where only 400 m of that strike had previously been drilled. This represents an opportunity for the Company’s current surface drilling program to continue discovering new mineralized zones close to the surface.

Qualified Person

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

Quality Assurance Program and Quality Control Procedures (“QA/QC”)

The Company has implemented QA/QC procedures which include insertion of blank and standard samples in all sample lots sent to SGS de México, S.A. de C.V laboratory facilities in Durango, Mexico, for sample preparation and assaying. For every sample with results above Ag >100 ppm (over limits), these samples are submitted directly by SGS de Mexico to SGS Canada Inc at Burnaby, BC. The analytical methods are 4-acid Digest and Inductively Coupled Plasma Optical Emission Spectrometry with Lead Fusion Fire Assay with gravimetric finish for silver above over limits. For gold assays the analytical methods are Lead Fusion and Atomic Absorption Spectrometry Lead Fusion Fire Assay and gravimetric finish for gold above over limits.

The recent drill holes, completed by First Majestic from 2016 to 2018, followed QA/QC protocols reviewed and validated by GR Silver Mining, including insertion of blank and standard samples in all sample lots sent to First Majestic’s Laboratorio Central facilities in La Parilla, Durango, for sample preparation and assaying. Additional validation and check assays were performed by an independent laboratory at SGS de México, S.A. de C.V. facilities in Durango, Mexico. The analytical methods applied for these recent holes for Ag and Au assays comprised of Fire Assay with Atomic Absorption finish for samples above Au >10ppm and Ag >300ppm and Gravimetric Finish. Pb and Zn were analyzed using Inductively Coupled Plasma Optical Emission Spectrometry. GR Silver Mining has not received information related to the Grupo Mexico QA/QC and assay protocols and at this stage is considering the information historic for news release purposes.

About GR Silver Mining Ltd.

GR Silver Mining Ltd. is a Mexico-focused company engaged in cost-effective silver-gold resource expansion on its key assets which lie on the eastern edge of the Rosario Mining District, Sinaloa, Mexico.

PLOMOSAS SILVER PROJECT

GR Silver Mining owns 100% of the Plomosas Silver Project located near the historic mining village of La Rastra, within the Rosario Mining District. The Project is a past-producing asset where only one mine, the Plomosas silver-gold-lead-zinc underground mine, operated from 1986 to 2001. The Project has an 8,515-hectare property position and is strategically located within 5 km of the Company’s San Marcial Silver Project in the southeast of Sinaloa State, Mexico.

The March 2020 acquisition of the Plomosas Silver Project included 563 historical and recent drill holes from both surface and underground locations. These drill holes represent an extensive database allowing the Company to advance towards resource estimation and potential project development in the near future.

The Company has commenced an 11,900 m drilling program with surface holes focused on expanding known mineralization along strike in two initial areas, the Plomosas Mine Area and the San Juan Area. Underground drilling included in the program will target the extension of recent polymetallic discoveries at the lowest level (775 m RL, or ~250 m below surface) of the Plomosas Mine Area and six low sulphidation epithermal veins at San Juan Area. Both areas will be the subject of NI 43-101 resource estimations following completion of this drill program.

The 100%-owned assets include all facilities and infrastructure including: access roads, surface rights agreement, water use permit, 8,000 m of underground workings, water access, 60 km – 33 KV power line, offices, shops, 120-person camp, infirmary, warehouses and assay lab representing approximately US$30 million of previous capital investments. The previous owners invested approximately US$18 million in exploration, including extensive geophysics and geochemistry programs.

The silver and gold mineralization on this Project display the alteration, textures, mineralogy and deposit geometry characteristics of a low sulphidation epithermal silver-gold-base metal vein/breccia mineralized system. Previous exploration was focused on Pb-Zn-Ag-Au polymetallic shallow mineralization, hosted in NW-SE structures in the vicinity of the Plomosas mine. The E-W portion of the mineralization and extensions for the main N-S Plomosas fault remain under-explored.

In addition to the resource potential at Plomosas, a review of the existing drill hole database, geophysical surveys and geochemical data covering most of the concession, has defined 16 new exploration targets from which 11 have high priority for future exploration programs.

SAN MARCIAL PROJECT

San Marcial is a near-surface, high-grade silver-lead-zinc open pit-amenable project, which contains a 36 Moz AgEq (Indicated) and 11 Moz AgEq (Inferred) NI 43-101 resource estimate. The company recently completed over 320 m of underground development in the San Marcial Resource Area, from which underground drilling is planned to expand the high-grade portions of the resource down dip. The Company recently discovered additional mineralization in the footwall, outside of the existing resource, and will also be drilling this area. GR Silver Mining is the first company to conduct exploration at San Marcial in over 10 years. The NI 43-101 resource estimate (San Marcial Project – Resource Estimation and Technical Report) was completed by WSP Canada Inc. on March 18, 2019 and amended on June 10, 2020.

Recent exploration has identified silver and gold mineralization in areas previously defined as non-mineralized, discovering evidence of pervasively altered rocks with intense silicification, veining and associated wide, silver and gold mineralized zones on the footwall of the NI 43-101 resource.

Plomosas and San Marcial collectively represent a geological setting resembling the multimillion-ounce San Dimas Mining District which has historically produced more than 600 Moz silver and 11 Moz gold over a period of more than 100 years.

OTHER PROJECTS

GR Silver Mining’s other projects are situated in areas attractive for future discoveries and development in the same vicinity of Plomosas and San Marcial in the Rosario Mining District.

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

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

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements 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.

________________________________
1AgEq is based on long term gold, silver, zinc, lead and copper prices of US$1600 per ounce gold, US$16.50 per ounce silver, US$0.85 per pound zinc, US$0.95 per pound lead and US$3.00 per pound copper. The metallurgical recoveries are assumed as 90% Ag, 95% Au, 78% Pb, 70% Zn and 70% Cu.

SOURCE GR Silver Mining Ltd.

For further information: +1 (604) 202 3155, Email: info@grsilvermining.com

Related Links

http://www.grsilvermining.com/

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Donn Lovett Joins Tocvan Ventures Corp. as Strategic Advisor

Tocvan Ventures Corp. (CSE: “TOC”) (CNSX:TOC.CN) (“Tocvan” or the “Corporation”) is. is pleased to announce the appointment of Mr. Donn Lovett as a Strategic Advisor to the Board of Directors.

 

Based in Calgary, Alberta, Canada, Mr. Lovett is a Government and Public Relations professional.

Donn is the President of Donn Lovett Agency in Calgary, AB, Canada since 1990. The Donn Lovett Agency is an International Consultancy focused on Agriculture, Financing, Oil & Gas Exploration & Development in Canada, Oman, Iran, Qatar and the UK.

 

He is the former General Manager of Oman Energy Services LLC (OES) from March 2004 to April 2012. OES is an Omani company with its head office in Muscat, in the Sultanate of Oman. Combined with their Omani partners, they have several years of experience in the Oil & Gas sector.

 

Since 2019 Mr. Lovett has worked with senior Omani Private and Public persons committed to improving the economy and environment of Oman. They encourage a responsible environmental footprint on energy projects making the country more competitive, prosperous and respected.

 

He’s played a role over the years in trying to bring States closer together with Canada, including Oman, Iran, Iraq, Qatar, Turkey and now Mexico.

 

Mr. Lovett also works with Indigenous people to ensure they get a reasonable ESG relationship to any exploration or extraction project worldwide.

 

Donn represented Tocvan Ventures at the Discovery Mining conference in Guadalajara Mexico this past November and has already helped build relationships within the private and public sector of Mexico.

Please Click to View Donn’s interview at the Discovery Mining Conference in November.

Mr. Lovett also made key introductions with First Nations people as Tocvan works on exploration agreements in British Columbia to advance the Rogers Creek property. Tocvan wants to proceed in a manner that benefits all stake holders, including First Nations.

 

Donn is actively connected within Canada’s political landscape and can provide introductions when necessary to help advance responsible resource exploration and development.

 

Derek Wood, Tocvan CEO advised “I am extremely pleased to be working with Donn. Donn has been able to make some very important introductions and provides great experience and guidance as Tocvan continues to diligently work to create additional value for the benefit of its shareholders.”

Mr. Lovett has been granted 100 000 stock options of the company at an exercise price of .40 and a 5-year term.

  

About Tocvan Ventures Corp.

Tocvan is a well-structured exploration mining 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 Ventures Currently has approximately 24.5 million shares outstanding and is earning into two exciting opportunities. The Pilar Gold project in the Sonora state of Mexico and the Rogers Creek project in Southern British Columbia, Management feels both projects represent tremendous opportunity.

  

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 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) 200-3569

Email:  dwood@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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