(via TheNewswire)
non-brokered private placement of units (“Units”) for gross proceeds of
In connection with the Offering, the Company paid aggregate cash commissions to arm’s length finders who assisted with the Offering of approximately
The company currently has 31,312,701 Common Shares outstanding.
Discussion on Use of Proceeds
Proceeds from the Offering will be used to advance the
In December, an exploration program of surface mapping and sampling will be conducted at the
“We are now on the ground in
ANNUAL GENERAL MEETING OF SHARHOLDERS (“AGM”) –
The Company is also pleased to announce the date for its AGM has been set for
NO MATERIAL INFORMATION TO ANNOUNCE
The Company is not aware of any material non-public information at this time. The Company would like to address recent market volatility and confirm it is not correlated with any pending material information due for release. Recent market activity is likely due to global uncertainty with the resurgence of a new COVID-19 variant.
About the Pilar Property
The Pilar Gold-Silver property is interpreted as a structurally controlled low-sulphidation epithermal project hosted in andesite rocks. Three zones of mineralization have been identified in the north-west part of the property from historic surface work and drilling and are referred to as the
2021 Phase II RC Drilling Highlights include (all lengths are drilled thicknesses):
39.7m @ 0.96 g/t Au, including 1.5m @ 14.6 g/t Au
47.7m @ 0.75 g/t Au including 3m @ 5.6 g/t Au and 22 g/t Ag
29m @ 0.71g/t Au
35.1m @ 0.66 g/t Au
2020 Phase I RC DrillingHighlights include (all lengths are drilled thicknesses
94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;
41.2m @ 1.1 g/t Au, including 3.1m @ 6.0g/t Au and 12 g/t Ag ;
24.4m @ 2.5 g/t Au and 73 g/t Ag, including 1.5m @ 33.4 g/t Au and 1,090 g/t Ag
17,700m of Historic Core RC drilling. Highlights include:
61.0m @ 0.8 g/t Au
16.5m @ 53.5g/t Au and 53 g/t Ag
13.0m @ 9.6 g/t Au
9.0m @ 10.2 g/t Au and 46 g/t Ag
Soil and Rock sampling results from undrilled areas indicate mineralization extends towards the southeast from the
About
El Picacho Gold-Silver project. Management feels both projects represent tremendous opportunity to create shareholder value.
FOR FURTHER INFORMATION, PLEASE CONTACT:
950-736 6 Ave SW
Telephone: 403-668-7855
Email:bsutherland@tocvan.ca
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.
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Copyright (c) 2021 TheNewswire - All rights reserved., source