Trojan Gold Inc. (CSE: TGII) (the "Company" or "Trojan") is pleased to announce that, further to the press release of the Company dated April 25, 2024, it has issued 5,000,000 common shares in the capital of the Company (the "Shares") to arms-length third parties, at a price of $0.05 per Share, as consideration for the assignment to Trojan of the option agreement disclosed in the press release noted above.
The Shares will be subject to a four-month and one-day hold period.
About Trojan Gold Inc.
Trojan is an active Ontario-based prospect generator junior exploration company, led by a team of professionals having exploration, engineering, project financing and permitting experience. Trojan has accumulated land positions in the Hemlo Gold Camp and Shebandowan Greenstone Belt which in management's view represent mineral exploration potential. For further information on the Company, please visit www.trojangold.com. Trojan is listed on the Canadian Securities Exchange under the symbol (CSE: TGII), on the OTC Pink Market under the ticker symbol TRJGF and on the Frankfurt Exchange under the symbol KC1.
For further information, please contact:
Charles J. Elbourne, President & CEO
Trojan Gold Inc.
82 Richmond St. East, Suite 401
Toronto, Ontario M5C 1P1
Telephone: 416-315-6490
Email: elbourne007@gmail.com
Website: www.trojangold.com
Further Information
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as "may", "will", "expect", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions, and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy. Forward-looking information contained in this press release includes, but is not limited to, statements relating to the future potential of the Company's mineral properties.
Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that the Company will have the resources, financial and otherwise, required to complete exploration activities on its properties as currently anticipated or at all.
However, forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such risks include, but are not limited to: the risk that the Company will not be able to proceed with anticipated exploration activities on its properties as anticipated or at all; risks relating to the junior mining industry; global economic trends; and other risks as described in the Company's public disclosure record at www.sedarplus.ca.
Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and are based on the beliefs, estimates, expectations, and opinions of management on such date. The Company does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/209164
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For full details please see the Tocvan Ventures news release dated May 14th, 2024 below:
Calgary, Alberta – May 14, 2024 – Tocvan Ventures Corp. (CSE: TOC) (OTCQB: TCVNF) (FSE: TV3) (the "Company"), is pleased to announce first drill results from its 2024 Reverse Circulation (RC) drill program at its road accessible Pilar Gold-Silver project in mine-friendly Sonora, Mexico. A total of 1,825.4 meters has been drilled to date in 15 drillholes.
Results today are highlighted by drillhole JES-24-77 which returned 56.4 meters of 1.0 g/t Au from 18.3 meters vertical depth, including 9.2 meters of 5.3 g/t Au. The entire length of the hole returned anomalous gold values averaging 76.3 meters of 0.8 g/t Au. A high-grade center to the mineralized zone returned 5.3 g/t Au and 3 g/t Ag over 9.2 meters, including 1.5 meters of 26.7 g/t Au. Like the Main Zone, the 4-T trend is exposed at surface along a rounded ridge top, allowing the potential for a low strip ratio during early development. The hole tested near-surface mineralization and was stopped at 76.3 meters, mineralization at 4-T remains open at depth. Results for eleven drill holes are currently pending analysis, including holes further northwest, along the 4-T trend.
"We are extremely excited with the results today highlighting the additional resource potential that exists along the several parallel trends to the Main Zone which we believe can be tied together into a sizable area," commented Brodie Sutherland, CEO. "Today's results are the best from the 4-T Trend to date and rank as a top five drill intersect in Tocvan's history of drilling at Pilar. Gold mineralization intersected in hole JES-24-77 is close to surface, projecting to workings exposed along a low rolling ridgeline much like the Main Zone. This allows for low-strip ratio potential in future mine development, reducing costs for extraction. We are confident the 4-T Trend will continue to develop into another key resource area for Pilar, being just 400 meters from the heart of our Main Zone. Part of our bulk sample was extracted from 4-T adding to that confidence of resource viability. More results from the trend are pending. As for our exploration drill targets, it is still early in testing these areas and the data available suggests more work is needed to fully evaluate and target mineralization. Surface mapping and geochemistry strongly suggests the known trends extend to the southeast and northwest, while new trends have yet to be tested. Recent sampling across the expansion area supports this thesis, indicating much more is to be uncovered."
Figure 1. Summary map of today's drill highlight and surrounding surface results. JES-24-77 returned 56.4m of 1.0 g/t Au, 400m east of the Main Zone trend.
In addition, three exploration holes on the southeastern flanks of known mineralization (JES-24-74, 75 and 76) are also included in this release, testing known areas of significant surface mineralization. Although anomalous intervals were encountered, no significant mineralization has been recorded yet.
Discussion of Results
JES-24-77
The drillhole targeted near surface mineralization vertically below the Four Trench (4-T) prospect. The Prospect gets its name from four trenches completed historically across a known area of artisanal underground workings. The prospect was first drilled in 1996 by Santa Catalina, a Lundin Company evaluating Pilar. First drilling hit 7.5 meters of 3.3 g/t Au and 31 g/t Ag in drillhole K-16 (hole was stopped at 7.5m). Follow-up drilling over 15 years later by a private operator returned 30.5 meters of 0.7 g/t Au (JESP-18). In 2021, Tocvan drilled 15.3 meters of 1.1 g/t Au along the same ridgeline 300 meters to the northwest. The result released today from JES-24-77 is the most significant result along the 4-T trend drilled to date and ranks as the fifth best drill result ever from the over 60 drillholes Tocvan has completed thus far at Pilar. JES-24-77 was a vertical drillhole testing the down-dip projection of surface mineralization, successfully intersecting several zones of low-grade gold and silver and one high-grade zone. Follow-up work is to be completed along this developing trend.
Exploration Drill Results
Drillholes JES-24-74 and 75 tested an area southeast of the Main Zone where local surface mineralization hosted along structures and veins had returned 5.1 g/t Au and 24 g/t Ag. Although no significant mineralization was recorded in these holes, anomalous values of silver warrant further investigation. Drillhole JES-24-76 tested the southernmost flank of the 4-T trend, alteration and veining was recorded in logging although no significant mineralization was recorded.
Figure 2. Pilar Project Planview map showing the southern block made up of the Pilar Main Zone and the newly discovered placer source with additional gold-silver mineralization extending to the south. Within the northern block, a large alteration zone that spans 3.3 km by 1.5 km (North Alteration Zone) has returned high-grade gold and silver values in the first few sampling programs across the newly acquired area.
Table 1. Summary of Drill Results Released Today from Pilar Project Drill Hole JES-24-77.
All interval lengths are drilled widths.
| Hole ID | From (m) | To (m) | Width (m) | Au (g/t) | Ag (g/t) |
| JES-24-77 | 0.00 | 76.25 | 76.25 | 0.75 | 0.91 |
| including | 18.30 | 74.73 | 56.43 | 1.00 | 1.10 |
| including | 27.45 | 36.60 | 9.15 | 5.25 | 2.51 |
| including | 35.08 | 36.60 | 1.52 | 26.79 | 4.92 |
Table 2. Drillhole locations released today.
| Hole ID | Azimuth | Dip | Depth (m) | Easting | Northing | Elevation (m) |
| JES-24-74 | 243 | 45 | 125.05 | 617666 | 3144245 | 421 |
| JES-24-75 | 060 | 45 | 128.10 | 617670 | 3144243 | 421 |
| JES-24-76 | 000 | 90 | 91.50 | 617927 | 3144475 | 437 |
| JES-24-77 | 000 | 90 | 76.25 | 617897 | 3144687 | 447 |
About the Pilar Property
The Pilar Gold-Silver property has returned some of the regions best drill results. Coupled with encouraging gold and silver recovery results from metallurgical test work, Pilar is primed to be a potential near-term producer. Pilar is interpreted as a structurally controlled low-sulphidation epithermal system hosted in andesite rocks. Initially three primary zones of mineralization were identified on the original property from historic surface work and drilling and are referred to as the Main Zone, North Hill and 4-T. Each trend remains open to the southeast and north and new parallel zones have been discovered. Structural features and zones of mineralization within the structures follow an overall NW-SE trend of mineralization. Mineralization extends along a 1.2-km trend, only half of that trend has been drill tested so far. The Company has now expanded its interest in the area by consolidating 22 square-kilometers of highly prospective ground where it has already made significant surface discoveries.
Pilar Drill Highlights:
Pilar Bulk Sample Summary:
Additional Metallurgical Studies:
Quality Assurance / Quality Control
RC samples were shipped for sample preparation to ALS Limited in Hermosillo, Sonora, Mexico and for analysis at the ALS laboratory in North Vancouver. The ALS Hermosillo and North Vancouver facilities are ISO 9001 and ISO/IEC 17025 certified. Gold was analyzed using 50-gram nominal weight fire assay with atomic absorption spectroscopy finish. Over limits for gold (>10 g/t), were analyzed using fire assay with a gravimetric finish. Silver and other elements were analyzed using a four-acid digestion with an ICP finish. Over limit analyses for silver (>100 g/t) were re-assayed using an ore-grade four-acid digestion with ICP-AES finish. Control samples comprising certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the Company's robust quality assurance / quality control protocol.
Brodie A. Sutherland, CEO for Tocvan Ventures Corp. and a qualified person ("QP") as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.
ABOUT COLIBRI RESOURCE CORPORATION:
Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) and is focused on acquiring, exploring, and developing prospective gold & silver properties in Mexico. The Company holds five high potential precious metal projects: 1) 100% of EP Gold Project in the significant Caborca Gold Belt which has delivered highly encouraging exploration results and is surround by Mexico's second largest major producer of gold on four sides, 2) 49% Ownership of the Pilar Gold & Silver Project which is believed to hold the potential to be a near term producing mine, and 3) three highly prospective interests in the Sierra Madre (Diamante Gold & Silver Project, Jackie Gold & Silver Project, and Mezquite Gold & Silver Project.
For more information about all Company projects please visit: www.colibriresource.com.
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.
Notice Regarding Forward-Looking Statements:
This news release contains "forward-looking statements". Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate.
Impact’s Managing Director, Dr Mike Jones, said, “The results of the flora and fauna baseline surveys further confirm that the environmental impact of our proposed development of the Lake Hope alumina deposit will be exceptionally small. Given that mining will only leave a hole about one to two metres deep in the lake, the environmental risk and any post-mine rehabilitation are considered to be minimal at this stage.
We are also pleased to announce the appointment of Indigenous Services Australia to help with our discussions and negotiations with the Ngadju Aboriginal group upon whose lands the Lake Hope project is located. ISA played a pivotal role in negotiating a mining agreement between the Ngadju people and Sirius Resources (now IGO) for the Nova-Bollinger mine near Norseman.
In addition, we have appointed a well-respected and very experienced Feasibility Study manager for Lake Hope, Mr David English. David helped lead the teams that developed both the De Grussa copper mine (Sandfire Resources) and the Nova-Bollinger nickel-copper mine and he was instrumental in getting both projects to production in near-record times. David has already added significantly to the team and our forward plans, and we are on schedule to complete the PFS by the end of the year.
David’s appointment has allowed Roland Gotthard, who discovered Lake Hope and developed the metallurgical processes to produce HPA from lake mud, to focus on the metallurgical test work and accelerate end-product development. We look forward to announcing the results of that on-going work”.
Figure 1. Location of the Lake Hope Project (northernmost red star). Lake Hope is one of five exploration licences owned by Playa One Pty Limited, in which Impact has the right to earn an 80% interest (ASX Release March 21st 2023)
Baseline flora and fauna studies have not identified any Threatened or Priority species in and around the salt lakes that host the alumina-bearing mud at Impact Minerals Limited’s Lake Hope project, located 500 km east of Perth in Western Australia (Figure 1). Together with the already-received Heritage Clearance from the Ngadju Aboriginal people, this is a further significant milestone on Impact’s journey to producing High-Purity Alumina (HPA) from the aluminous mud at Lake Hope.
The surveys, which were undertaken by Biota Environmental Sciences, were completed in the spring season in late 2023 and were focused on E63/2086, which contains the Lake Hope alumina deposit. The studies covered the deposit, which lies in the top two metres of two salt pans and the surrounding areas, small areas of which will be required for site logistics, mainly haulage roads and stockpiles and temporary accommodation.
A few species that will require an environmental management plan are present in a few places close to some of the proposed site logistics but will not have a material effect on development. Further surveys will be completed in these areas and also along the route of the proposed haul road to the Norseman-Hyden road in due course.
Click here for the full ASX Release
This article includes content from Impact Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
“Applying a peer-based EV/resource multiple approach, we derive the valuation of AU$0.09 in a base case scenario and AU$0.11 per share in a bull case scenario,” analyst Behzad Golmohammadi wrote in the report.
Warriedar Resources is an advanced gold and copper exploration company with an existing resource base of about 2 million ounces of gold between its projects in Western Australia (Golden Range and Fields Find) and Nevada, USA (Big Springs). The analyst report cites Warriedar’s successful exploration to date of Golden Range and Fields Find with highly encouraging results suggesting a potential for high-grade gold discoveries and a porphyry system hosting polymetallic mineralisation, including gold, copper, molybdenum and silver.
“Successful resource expansion from the upcoming aggressive drilling campaigns, enhanced by
positive metallurgy and new discovery potential could drive a substantial rerating, in our view,” Golmohammadi wrote.
The report also cited the current positive gold outlook that is expected to drive gold prices higher, adding to the upside potential of Warriedar Resources.
For the full analyst report, click here.
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