g cem one

Tocvan Announces Start of Exploration at Pilar and Updates on Financing

(TheNewswire)



Calgary, Alberta - TheNewswire November 30, 2021 . TOCVAN Ventures Corp. ( CSE:TOC) (CNSX:TOC.CN) (OTC:TCVNF) (WKN:TV3A2PE64) (" Tocvan " or the " Company ") is pleased to announce that it has closed a first tranche of its previously announced non-brokered private placement of units (" Units ") for gross proceeds of $471,225.00 (the " Offering ").  The Offering consisted of the issuance of an aggregate of 471,225 Units at a price of $1.00 per Unit.  Each Unit consists of one common share (" Common Share ") in the capital of the Company and one-half common share purchase warrant (" Warrant "). Each Warrant entitles the holder thereof to acquire one Common Share at a price of $1.50, for a period of 24 months from the closing of the Offering.

In connection with the Offering, the Company paid aggregate cash commissions to arm's length finders who assisted with the Offering of approximately $20,098 and issued 20,098 finder warrants (" Finder Warrants "). Each Finder Warrant is exercisable at a price of $1.50 per Common Share for a period of 24 months from the closing of the Offering.

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 Pilar Gold-Silver Project in Sonora, Mexico. VP Exploration, Brodie Sutherland is currently in Mexico to initiate the next phase of exploration. The company will be evaluating surface mineralization with trenching and channel sampling followed by a series of column leach studies on representative sites across the Main Zone. In addition, drilling is planned with between 5,000 to 8,000 meters estimated between now and July of 2022. Drilling will focus on continued step-out drilling along the Main Zone and new 4-Trench Trend, following up on Phase II step-outs highlighted by JES-21-50 which intersected 39.7m at 0.96 g/t Au including 1.5m at 14.6 g/t Au . Exploration drilling will continue to evaluate target areas along the Triple Vein Zone. Surface exploration work will continue with trenching and sampling along the southeastern extension of the Main Zone.

In December, an exploration program of surface mapping and sampling will be conducted at the El Picacho Gold-Silver Project in Sonora, Mexico. The program aims to advance key target areas towards trenching and ultimately drill targeting.

"We are now on the ground in Mexico with our exploration team and we are very much looking forward to this next phase of exploration.", commented VP Exploration, Brodie Sutherland. "I will updating on our progress over the next few weeks as we begin trenching for detailed metallurgical analysis at our Main Zone and exploration of key target areas. At the same time, we look to rapidly move towards our next phase of drilling. Despite recent market volatility the Company's exploration program will go forward as planned and I will be on site at Pilar to oversee the start."

ANNUAL GENERAL MEETING OF SHARHOLDERS ("AGM") – JANUARY 31, 2022

The Company is also pleased to announce the date for its AGM has been set for January 31, 2022. The Company encourages all shareholders to take part as it will be voting on the spin-out of the 100% owned Rogers Creek Property in British Columbia into a new company focused on copper assets, Cascade Copper.

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 Main Zone, North Hill and 4-Trench. Structural features and zones of mineralization within the structures follow an overall NW-SE trend of mineralization. Over 22,700 m of drilling have been completed to date. Significant results are highlighted below:

  • 2021 Phase II RC Drilling Highlights include ( all lengths are drilled thicknesses ):

    • 39.7m @ 0.96 g/t Au, including 1.5m @ 14.6 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 Drilling Highlights include ( all lengths are drilled thicknesses

    • 94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;

    • 41.2m @ 1.1 g/t Au, including 3.1m @ 6.0g/t Au and 12 g/t Ag ;

    • 24.4m @ 2.5 g/t Au and 73 g/t Ag, including 1.5m @ 33.4 g/t Au and 1,090 g/t Ag

  • 17,700m of Historic Core RC drilling. Highlights include:

    • 61.0m @ 0.8 g/t Au

    • 16.5m @ 53.5g/t Au and 53 g/t Ag

    • 13.0m @ 9.6 g/t Au

    • 9.0m @ 10.2 g/t Au and 46 g/t Ag

Soil and Rock sampling results from undrilled areas indicate mineralization extends towards the southeast from the Main Zone and 4-Trench Zone. Recent Surface exploration has defined three new target areas: Triple Vein Zone, SE Vein Zone and 4 Trench Extension.

Brodie A. Sutherland, P.Geo., VP Exploration for Tocvan Ventures Corp. and a qualified person ("QP") as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.

About TOCVAN Ventures Corp .

Tocvan is a well-structured exploration development company. Tocvan was created in order to take advantage of the prolonged downturn the junior mining exploration sector, by identifying and negotiating interest in opportunities where management feels they can build upon previous success. Tocvan has approximately 31 million shares outstanding and is earning into two exciting opportunities in Sonora, Mexico: the Pilar Gold-Silver project and the
El Picacho Gold-Silver project. Management feels both projects represent tremendous opportunity to create shareholder value.

FOR FURTHER INFORMATION, PLEASE CONTACT:

TOCVAN Ventures Corp.

Brodie A. Sutherland, VP Exploration

950-736 6 Ave SW

Calgary, Alberta T2P 3T7

Telephone: 403-668-7855

Email: bsutherland   @tocvan.c   a

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.

Copyright (c) 2021 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

The Conversation (0)
Pacgold

Successful $5.6 million Placement for Exploration Program at Alice River Gold Project

Ǫueensland focused gold explorer, Pacgold Limited (ASX: PGO) (Pacgold or the Company) is pleased to announce it has received firm commitments for a $5.6 million two-tranche placement (Placement) via the issue of 93.3 million new fully paid ordinary shares in the Company (New Shares).

Keep reading...Show less
B2Gold Releases its Ninth Annual Responsible Mining Report and its Fourth Annual Climate Strategy Report

B2Gold Releases its Ninth Annual Responsible Mining Report and its Fourth Annual Climate Strategy Report

B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) ("B2Gold" or the "Company") is pleased to announce that it has published its ninth annual Responsible Mining Report entitled "Raising the Bar" (the "Report"), which details B2Gold's global economic contributions and its environmental, social, and governance ("ESG") management practices, together with the Company's performance against key indicators in 2024. Highlights of the Report are presented below, and full details are outlined in the Report, which is available to view or download at the link provided below. All dollar figures are in United States dollars unless otherwise indicated.

B2Gold is also pleased to announce that it has published its 2024 Climate Strategy Update. The Climate Strategy Update presents stakeholders with information on how B2Gold manages its climate-related risks and impacts and is the Company's fourth annual report in line with the recommendations of the Task Force on Climate-related Financial Disclosures.

To view or download a copy of the Responsible Mining Report and Climate Strategy Update, and all other documents referred to in this press release, please visit www.b2gold.com/sustainability/esg-reporting-portal

In announcing the release of the Report and the Climate Strategy Update, Clive Johnson, President & CEO of B2Gold, states "As I reflect on the achievements and challenges of the past year, I am particularly proud of the dedication of our people, who continue to drive B2Gold forward. We have successfully navigated dynamic capital markets, regulatory changes, and evolving ESG expectations while maintaining our high standards of responsible mining. Together, we strive to continue to create long-term value for all of our stakeholders, while upholding the level of operational excellence, environmental stewardship, and social responsibility that define B2Gold."

Highlights from the 2024 "Raising the Bar" Responsible Mining Report

Economic Contribution

As a responsible gold miner, B2Gold aims to create and distribute economic value among its stakeholders. B2Gold's economic performance is measured by the economic value that it generates for others, including payments to governments through taxes and royalties, local hiring and procurement and investment in communities. In 2024, B2Gold:

  • Achieved total consolidated gold production of 804,778 ounces (including 19,644 ounces of attributable production from Calibre Mining Corp.);

  • Generated $1.9 billion in annual revenue;

  • Paid $283 million in employee wages and benefits;

  • Invested $12.8 million in its local communities 1 ; and

  • Paid $564 million to governments (through taxes and royalties).

B2Gold is committed to maximizing local and national economic benefits from its contracting and purchasing. The Company is conscious of the high priority that host communities and governments place on local procurement. In sourcing the goods and services necessary to run its operations, B2Gold gives preference to local businesses where possible, provided they meet minimum safety, quality, ethical, and cost requirements. In 2024, over $600 million of goods and services were procured from local and host-country businesses. Several 2024 success stories are outlined in the Report.

People

As a reputable corporate citizen, B2Gold generates national employment and opportunities for people to develop their careers, trains employees to acquire new skills, and opens doors to women, under-represented groups and previously disadvantaged people. The Company fosters positive and productive engagement with employees, provides safe workplaces, and believes that investing in people attracts and retains talented individuals and assists in their abilities to provide for themselves, their families and their futures.

At the end of 2024, B2Gold employed 6,478 2 people across all operations. The Company continues to maintain high local employment rates by targeting recruitment efforts at regional and national levels. Across all operations, 97% of the total workforce, and 58% of Senior Management 3 were comprised of national 4 employees.

B2Gold values a diverse workforce. In recent years, the Company has made significant strides in advancing its Equity, Diversity and Inclusion initiatives. In 2021, the adoption of a Diversity Policy by the Company's Board established a target of 30% female representation on the Board and in management-level positions, underscoring its commitment to promoting and achieving gender diversity at all levels of the organization. B2Gold is pleased to report that as of the end of 2024, 40% of Company directors identify as gender diverse.

Health and Safety

As a result of B2Gold's focus on injury prevention, the Company is once again pleased to report that for the ninth consecutive year, it has maintained a zero-fatality workplace. Additionally, B2Gold's injury rates remain amongst the lowest in the mining industry, with a Lost Time Injury Frequency Rate of 0.05 5 in 2024. These achievements underscore the Company's position as a leader in safety performance within the industry.

Communities

B2Gold maintains its social licence to operate by building trust-based relationships, actively engaging with stakeholders, and implementing community investment activities based on local ownership and development priorities. Highlights of the 2024 community investment programs include:

  • At the Fekola Complex, the 70-hectare Goungoubato Agricultural Project is supporting over 250 households affected by resettlement, directly addressing food insecurity whilst fostering small- and medium-sized enterprise growth through newly formed farmers' associations. Additionally, B2Gold continued its partnership with Global Affairs Canada and its support of the FEMA Project, which aims to improve conditions for women and children living in artisanal mining communities within the Fekola Mine's area of influence. The FEMA Project was initiated in March 2022 and will continue until 2027.

  • At the Masbate Gold Project, investment continued to focus on education, access to health services and facilities, and programs that enhance local economic opportunities, including skills training and small enterprise support. The Training for Employment Program reached its fifth year of partnership in 2024 and remains a powerful driver of economic mobility by equipping individuals with the skills and training needed to build sustainable livelihoods. Over the lifetime of the project, 1,521 individuals have received training and over 600 participants have secured employment.

  • At the Otjikoto Mine, B2Gold Namibia achieved significant milestones that reflect the Company's commitment to meeting critical needs, supporting long-term development, and fostering resilience beyond the life of the mine. Notable achievements include the completion of the Ombili Clinic, which will improve access to healthcare in the region, and the Otavi Water Project, which enhances water security through the construction of a tower and water distribution system.

  • At the Back River Gold District, B2Gold Nunavut continues to strengthen its close relationships with the Kitikmeot Inuit Association and communities across Canada's Arctic. The Company is investing in collaborative projects throughout the Kitikmeot region that promote community wellness, support youth through sports, recreation, and education, and advance initiatives focused on women and Elders. A standout initiative is the Inuit Workplace Experience Program, delivered in partnership with the Redfish Arts Society, which provides Kitikmeot Inuit youth with hands-on training in welding and fabrication—equipping them with valuable skills for employment in Nunavut's growing mineral development sector. B2Gold Nunavut remains committed to working alongside the Kitikmeot Inuit Association to advance further initiatives that ensure the benefits of the Back River Gold District reach the communities of Cambridge Bay, Kugluktuk, Gjoa Haven, Taloyoak, and Kugaaruk.

Environment

B2Gold's remains firmly committed to reducing greenhouse gas ("GHG") emissions, with a target to reduce Scope 1 and 2 emissions by 30% by 2030 against a 2021 baseline. The completion of the Fekola solar plant expansion in early 2025 underscores this commitment by advancing the decarbonization of operations through innovative and sustainable energy solutions. The expanded Fekola facility is expected to supply approximately 30% of the site's electricity demand and reduce annual emissions by an estimated 63,000 tonnes of carbon dioxide equivalent (CO 2 e).

Approach to Reporting

B2Gold is committed to the transparency of its sustainability risks, management and performance. The Report is aligned with the Global Reporting Initiative Sustainability Reporting Standards and the Sustainability Accounting Standards Board Mining and Metals Sustainability Accounting Standard . The Company firmly believes that the mining industry has an opportunity to contribute positively to the United Nations Sustainable Development Goals and it has reported its contribution in this regard since 2018.

Highlights from the 2024 Climate Strategy Update

2024 Highlights

  • B2Gold is committed to a GHG emissions reduction target of a 30% reduction in Scope 1 and 2 emissions by 2030 against a 2021 baseline.

  • The Company continued evaluation of financial impacts of key climate risks identified at sites during previous climate scenario analysis workshops.

  • The total Scope 1 and 2 GHG emissions (for the Fekola, Masbate and Otjikoto operations) remained relatively stable in 2024, with a slight decrease to an estimated 699 thousand tonnes CO 2 e compared to 701 thousand tonnes in 2023. The Company's consolidated GHG emissions intensity was 0.89 tonnes CO 2 e per gold ounce produced in 2024 (compared with 0.71 in 2023), a modest increase driven in part by a reduction in total gold production.

  • The proportion of electricity consumed at B2Gold operations from renewable sources was 21.7% in 2024. At Otjikoto, the proportion of electricity consumed from renewable sources was over 70%.

Looking Forward – 2025 and Beyond

In 2025, B2Gold looks forward to strengthening its global partnerships and deepening its commitment to the diverse communities in which it operates. The Company will continue investing in initiatives that expand vocational training and promote job creation, improve access to education, and enhance healthcare services. B2Gold believes that by building local capacity and fostering strong alignment among governments, communities, stakeholders, and the Company, it can help create resilient, healthy, and prosperous communities throughout the mining lifecycle.

As part of its climate strategy, B2Gold will continue to advance renewable energy initiatives across its operations, supporting its target to reduce Scope 1 and 2 GHG emissions by 30% by 2030 against a 2021 baseline. At the Masbate Gold Project, an 8.2-megawatt ("MW") solar plant is scheduled for installation in 2025, which will further reduce emissions and heavy fuel oil ("HFO") consumption. In Nunavut, following regulatory approvals received in 2024, B2Gold is finalizing project plans and environmental commitments for the proposed Back River Energy Centre—a renewable energy facility that could include up to thirteen wind turbines, solar panels, and battery storage, with the potential to deliver more than 55 MW of clean energy. This facility is expected to significantly reduce reliance on HFO, as well as the number of fuel barges and fuel truck trips along the winter ice road.

Beyond increasing the share of renewable energy in its operations, B2Gold is actively assessing a range of additional carbon reduction opportunities, including energy efficiency improvements, the use of alternative fuels, and optimization of materials movement. The Company remains committed to innovation by working closely with industry-leading partners and staying prepared to adopt emerging technologies that align with its decarbonization goals.

About B2Gold

B2Gold is a responsible international senior gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Mali, Namibia and the Philippines, the Goose Project under construction in northern Canada and numerous development and exploration projects in various countries including Mali, Colombia and Finland.

ON BEHALF OF B2Gold Corp.

"Clive T. Johnson"
President and Chief Executive Officer

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Canadian Gold Corp. Provides an Update on the Forest Fire Situation Near the Tartan Mine

Canadian Gold Corp. Provides an Update on the Forest Fire Situation Near the Tartan Mine

Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") has temporarily suspended drilling operations at its Tartan Mine property near Flin Flon, Manitoba, due to a forest fire in the nearby vicinity.

"We have withdrawn our staff and continue to monitor our facilities remotely in accordance with local directives. Our team is in constant communication with local and provincial authorities to coordinate all efforts during this difficult time. All personnel are safe, and the Tartan facilities are secure. While all activities at the site are currently suspended, we remain hopeful that the nearby forest fire activity will not have any material impact on our Phase 4 drilling program.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
North Bay Resources Announces April Gold Concentrate Sales and Mobilization at Fran Gold Project, British Columbia

North Bay Resources Announces April Gold Concentrate Sales and Mobilization at Fran Gold Project, British Columbia

North Bay Resources, Inc. (the " Company " or " North Bay ") (OTC: NBRI) is pleased to announce final acceptance and settlement of the Company's 2 nd and 3 rd gold concentrate test shipments from the Company's Fran Gold Project processed at the Company's Bishop Gold Mill. Results of April test shipments are as follows:

Refinery Settlement   #2
LBS. (WET) 265
MOISTURE 16.20%
LBS (DRY) 222
DST 0.111
Au oz/dst 5.614
Ag oz/dst 2.506
Au: 0.623 oz
Ag: 0.278 oz
Metal Price May 20, 2025
Au $3,261.55
Ag $32.50
Total Value $1,836.88


News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Brixton Metals Commences Drilling at its Thorn Copper-Gold Project

Brixton Metals Commences Drilling at its Thorn Copper-Gold Project

Brixton Metals Corporation (TSX-V: BBB, OTCQB: BBBXF) (the " Company " or " Brixton ") is pleased to announce that its Thorn exploration camp is now open for the season and drilling has commenced. Brixton is fully funded for the 2025 exploration program with plans to expand near surface gold mineralization within the Camp Creek Corridor and at the Trapper Gold Target, and to drill test new, near surface copper porphyry mineralization at Catalyst Target. The 2,945 km 2 project is located in Northwest British Columbia, Canada, approximately 90 km northeast from Juneau, Alaska.

2025 Thorn Exploration Plan Highlights:

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×