Tocvan Drills 21.7-meters of 0.94 g/t Oxide Au including 4.0-meters of 4.3 g/t Au and 7 g/t Ag at Pilar.
Calgary, Alberta – March 30, 2022 Tocvan Ventures Corp. (the “Company”) (CSE: TOC; OTCQB: TCVNF; FSE: TV3), is pleased to announce initial drill results from its Pilar Au-Ag Project in Sonora, Mexico. Results for the first three drill holes are provided in this release, totaling 513.3 meters of drilling within the Main Zone (see Figure 1). A total of 1,540 meters of Phase III drilling has been completed in nine drill holes providing key information across the Main Zone and 4-T Trend. Drill hole JES-22-58 intersected 21.7-meters of 0.94 g/t Au, including 4.0 meters of 4.3 g/t Au and 7 g/t Ag. JES-22-58 was a diamond drill hole to confirm host rock and structure from the local Reverse Circulation (“RC”) drill hole JES-20-36 which intersected 24.4 meters of 2.5 g/t Au and 73 g/t Ag, including a high-grade interval of 1.5 meters of 33.4 g/t Au and 1,090 g/t Ag.
Drill Highlights
JES-22-58 (Core)
- 33m at 0.63 g/t Au and 2 g/t Ag, from 85.6 meters
- Including 21.7m at 0.94 g/t Au
- Including 4.0m at 4.3 g/t Au and 7 g/t Ag
JES-21-57 (RC)
- 6.1m at 0.51 g/t Au and 8 g/t Ag, from 6.1-meters downhole depth
JES-22-60 (Core)
- 5.5m at 0.64 g/t Au and 10 g/t Ag, from 5.4-meters downhole depth
“Core drilling continues to demonstrate the continuity and strength of oxide gold-silver mineralization at Pilar”, commented Brodie Sutherland, CEO. “Intersecting another broad low-grade zone with a high-grade core is extremely encouraging as we look to advance our understanding of the Main Zone and move the project towards the next stage of development. With more results pending we look forward to outlining the next steps for expansion at Pilar.”
Discussion of Significant Results
As part of the Phase III program, nine drill holes have been completed totalling over 1,540 meters (Figure 1). Drilling looked to expand the Main Zone through 25, 50 and 100-meter step-outs to the southeast in a gap zone that has seen little drilling focused on the main trend between hole JES-20-32 (94.6m at 1.6 g/t Au) and hole JES-21-50 (39.7m at 0.96 g/t Au). Drilling also covered the 4-T Trend testing below trench T-21-3, which returned 19.5 meters at 0.61 g/t Au.
Confirmation of host rock and structure through the Main Zone was completed with core drilling, targeting key areas where past RC drilling has intersected significant gold—silver mineralization. Drill hole JES-22-58 was successful in intersecting a significant zone of oxide gold with broad mineralization in a silicified brecciated andesite host (33.3 meters of 0.63 g/t Au, including 21.7 meters of 0.94 g/t Au). The intersection included a high-grade center of intensely silicified breccia vein grading 4.3 g/t Au and 7 g/t Ag over 4.0 meters. This breccia vein correlates with the high-grade mineralization seen in RC hole JES-20-36, which returned 1.5 meters at 33.4 g/t Au and 1,090 g/t Ag.
Figure 1. Map of Phase III Drill Holes
Table 1. Summary of Phase III Drill Results
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 24,200 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. 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 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
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 32 million shares outstanding and is earning 100% 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.
Quality Assurance / Quality Control
RC chips and core 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, P.Geo., 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.
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.
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For more information, please contact:
TOCVAN VENTURES CORP.
Brodie A. Sutherland, CEO
820-1130 West Pender St.
Vancouver, BC V6E 4A4
Telephone: 403-668-7855
Email: [email protected]