Tocvan Announces Change to Executive Management Team, Transitions Leadership Towards Development Focus
Calgary, Alberta – January 14, 2022 Tocvan Ventures Corp. (the “Company”) (CSE: TOC; OTCQB: TCVNF; WKN: TV3/A2PE64), announces strategic changes to executive management as it proactively looks towards the advancement of its core gold-silver assets in Sonora, Mexico. Mr. Brodie A. Sutherland, VP Exploration will replace co-founder, Mr. Derek A. Wood as President, CEO and Corporate Secretary. Mr. Wood will remain a director and strategic advisor of the Company. The changes will better align with technical and professional expertise required as projects advance towards development.
“On behalf of the Company we would like to thank Derek for his hard work and dedication to Tocvan from inception.” commented, Brodie A. Sutherland. “Derek will remain an important advisor to the board while our focus remains on the advancement of our two quality gold-silver assets in Sonora, Mexico.”
The Company also announces its new website has gone live at: (tocvan.com). We thank our shareholders for their patience while updates were made.
The Company has postponed the scheduled AGM to a later date due to the COVID-19 global pandemic and resulting delays obtaining court and shareholder approval of the Cascade Copper spin-out transaction. The Company will provide a further update once a final date for the meeting can be set.
About the Sonora Portfolio
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):
- 7m @ 0.96 g/t Au, including 1.5m @ 14. g/t Au;
- 7m @ 0.70 g/t Au including 3m @ 5.6 g/t Au and 22 g/t Ag;
- 29m @ 0.71g/t Au;
- 1m @ 0.66 g/t Au
- 2020 Phase I RC Drilling Highlights include (all lengths are drilled thicknesses):
- 6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;
- 2m @ 1.1 g/t Au, including 3.1m @ 6.0g/t Au and 12 g/t Ag;
- 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;
- 5m @ 53.5g/t Au and 53 g/t Ag;
- 0m @ 9.6 g/t Au;
- 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.
El Picacho Property
The El Picacho Gold-Silver property is interpreted as a orogenic gold system within the regional Caborca Orogenic Gold Belt known for producing gold mines that include La Herradura and San Francisco. The project is 140 kilometers north of Hermosillo and totals 2,414 hectares. Five primary zones of mineralization have been identified across the property totalling over six kilometers of prospective trends. Surface sampling has identified high-grade gold and silver values. The five primary target areas are summarized below:
- San Ramon
- 4 km prospective trend;
- Several historic mine workings associated with low angle faults;
- Historic Drill Highlights (Both were reconnaissance holes with no follow-up):
- (Drill hole PD-01) 7.6m @ 0.73 g/t Au, including 3.0m @ 1.37g/t Au
- (Drill hole RCP-02) 7m @ 0.67 g/t Au, including 4.6m @ 1.4 g/t Au
- Rock Sampling highlights:
- 22 g/t Au and 22 g/t Ag
- 16 g/t Au and 26 g/t Ag
- 14 g/t Au and 83 g/t Ag
- 3 km prospective trend;
- Historic mine workings up to 30-meters deep along shear-zones;
- Rock Sampling Highlights:
- 26 g/t Au and 340 g/t Ag
- 15 g/t Au and 66 g/t Ag
- 15 g/t Au and 29 g/t Ag
- 0.5 km prospective trend ;
- Historic mine workings among low-angle thrust faults;
- Rock Sampling Highlights
- 32 g/t Au
- 28 g/t Au and 10 g/t Ag
- El Puerto
- 2 km prospective trend ;
- Historic mine workings along vertical shear-zones hosted within a banded gneiss;
- Rock Sampling Highlights
- 8 g/t Au and 10 g/t Ag
- 5 g/t Au and 176 g/t Ag
- 0 km prospective trend;
- Historic mine workings in Jurassic metasediments surrounded by mineralized biotite gneiss;
- Rock Chip Sampling Highlights
- 2m @ 4.4 g/t Au and 46 g/t Ag
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.
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 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.
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:
TOCVAN VENTURES CORP.
Brodie A. Sutherland, President & CEO
950-736 6 Ave SW
Calgary, Alberta T2P 3T7
Email: [email protected]
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.