Tag: pilar

Tocvan Closes $5.125 Million Private Placement with Institutional Investor

MotherlodeTV
CSE:TOC, TocVan Ventures, gold, mexico

Tocvan Ventures Corp. (the “Company”) (CSE:TOC); (OTC:TCVNF) (WKN:TV3/A2PE64), is pleased to announce the closing of a private placement to an institutional investor (the “Placement”) to raise an aggregate amount of $5.125 million (CAD). The proceeds from the Placement will be deposited with a third-party escrow agent (the “Escrow Agent”) and delivered to the Corporation in monthly tranches over the next 24 months pursuant to the terms and conditions of a Sharing Agreement (as defined below) and an escrow agreement dated June 28, 2022 between the Corporation, Sorbie Bornholm LP, and Orrick, Herrington & Sutcliffe (UK) LLP (the “Escrow Agreement”). The funds will go towards the advancement of the Pilar and El Picacho Au-Ag projects in Sonora, Mexico and for general working capital purposes. read more

Tocvan Restarts Drilling at Pilar, Targeting Priority Areas for Expansion. Outlines Path Forward for Sonora Projects

MotherlodeTV
CSE:TOC, TocVan Ventures, gold, mexico

Tocvan Ventures Corp. (the “Company”) (CSE:TOC); (OTC:TCVNF); (FSE:TV3), is pleased to announce drilling has recommenced at its Pilar Au-Ag Project in Sonora, Mexico. As a continuation of Phase III, drilling will focus on priority exploration targets across the property. Targeting parallel trends and trend extensions will remain a focus as the Company looks to rapidly define the extent of mineralization at Pilar. Recent reconnaissance drilling in a 200-meter gap between the Main Zone and 4-T Trend was successful in defining a new parallel trend (JES-22-63 returned 54.9-meters at 0.3 g/t Au and 5 g/t Ag from 6.1-meters depth). Another 200-meters to the east, surface exploration returned chip samples of 6.6 g/t Au and 433 g/t Ag defining an untested extension of the 4-T Trend, both of these targets will be tested during this stage of drilling. read more