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A total of 1,562 meters of Phase III drilling has been completed in nine drill holes providing key information across the
Drill Highlights
JES-22-59 (Core)
116.9m at 1.2 g/t Au and 7 g/t Ag
Including48.1m at 2.8 g/t Au and 9 g/t Ag
Including10.2m at 12.0 g/t Au and 23 g/t Ag
Including4.2m at 28.3 g/t Au and 49 g/t Ag
“Once again core drilling has confirmed the significant grade and distribution of gold-silver mineralization at Pilar”,commented
Discussion of Significant Results
As part of the Phase III program, nine drill holes have been completed totalling over 1,562 meters (Figure 1). Drilling looked to expand the
Confirmation of host rock and structure through the
Figure 1. Map of Phase III Drill Holes.
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Table 1. Summary of JES-22-59 Drill Results.
Hole ID | From (m) | To (m) | Width (m)* | Au (g/t) | Ag (g/t) |
JES-22-59 | 20.20 | 137.05 | 116.85 | 1.19 | 6.57 |
including | 55.70 | 103.75 | 48.05 | 2.81 | 9.03 |
including | 55.70 | 65.90 | 10.20 | 12.04 | 23.35 |
including | 55.70 | 59.90 | 4.20 | 28.34 | 48.91 |
*Reported widths are apparent widths, JES-22-59 was drilled at a 50 degree inclination and is thought to be near perpendicular to the dip of mineralized structures.
Figure 2. Cross-Section of JES-22-59.
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Plate 1. Photo of Core from JES-22-59.
A.102m to 104.5m, silicified mineralized breccia
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Plate 2. Photos of Core from JES-22-59. 55m to 60m.
B.Major fault zone hosting high-grade mineralization.
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C.Start of mineralized breccia zone.
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AGM Summary and Results
The Company is pleased to announce the results of voting at its Annual General Meeting of Shareholders (“AGM”) held
Shareholders voted in favour of all items put forward:
The appointment of the Board of Directors and fixing the Board size to five.
The approval of audited Financial Statements.
The appointment of
Dale Matheson Carr-Hilton Labonte LLP , as Auditors of the Company for the ensuing year with the provision that the auditors remuneration be fixed by the board of directors.Ratifying and approving the continuation of the incentive Stock Option Plan of the Corporation.
A total of 4,055,973
The Company announced at the meeting a webinar will be scheduled for mid-May to go over recent drill results and outline next steps for Pilar and
About the Pilar Property
The
2021 Phase II RC Drilling Highlights include (all lengths are drilled thicknesses):
39.7m @ 0.96 g/t Au, including 1.5m @ 14. g/t Au
47.7m @ 0.70 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
About
Quality Assurance / Quality Control
RC chips and core samples were shipped for sample preparation to ALS Limited in
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 more information, please contact:
Telephone: 1 888 772 2452
Email:ir@tocvan.ca
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