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Calgary, Alberta – April 26, 2022 Tocvan Ventures Corp. (the “Company”) (CSE: TOC; OTCQB: TCVNF; FSE: TV3), is pleased to announce drill results from its Pilar Au-Ag Project in Sonora, Mexico. Results for core drill hole JES-22-62 are provided in this release, a 125m southeast step-out from hole JES-22-59 (116.9m at 1.2 g/t Au), infilling a gap 100m west of hole JES 21-47 (47.3m at 0.7 g/t Au, see Figure 1). JES-22-62 returned 108.6-meters at 0.8 g/t Au and 3 g/t Ag, including 31.9-meters at 2.4 g/t Au and 2 g/t Ag. Within the broader mineralized interval, consistent high-grade gold mineralization was recorded within a silicified sulphide-bearing breccia returning 9.4-meters at 7.6 g/t Au and 5 g/t Ag (see Table 2).
A total of 1,562 meters of Phase III drilling has been completed in nine drill holes providing key information across the Main Zone and 4-T Trend. Results for four drill holes are pending.
“We consider this new discovery of high-grade breccia hosted mineralization on trend with our Main Zone one of our most significant findings to date.”, commented Brodie Sutherland, CEO. “It also confirms our exploration model for targeting Pilar is effective in defining and expanding our mineralized zones. Past drilling had returned good indications of mineralization through this 200-meter gap area, but this is the first significant interval to date that outlines the larger potential, and so far, the furthest mineralization recorded to the southwest. Drill hole JES-22-62 expands our Main Zone and further confirms there is more to be discovered at Pilar. We look forward to reviewing the remaining drill hole data as it becomes available and planning our next steps at Pilar.”
Discussion of 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 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.
Drill hole JES-22-62 was successful in intersecting a significant zone of gold with broad mineralization in a silicified andesite host (108.9 meters of 0.8 g/t Au, including 31.9 meters of 2.4 g/t Au). The intersection included a high-grade breccia zone grading 7.6 g/t Au and 5 g/t Ag over 9.4 meters. The broader low-grade interval correlates with mineralization in the Main Zone Trend, the well-established centre of mineralization at Pilar. Results are pending for two holes on this trend on either side of JES-22-62. Historic drill hole JES-18-3 intersected a high-grade Au-Ag zone returning 13.5 meters of 5.6 g/t Au and 21 g/t Ag, 75-meters east of JES-22-62. Indicating there are other parallel high-grade zones present in the area.
Table 1. Summary of JES-22-62 Drill Results.
*Reported widths are apparent widths, JES-22-62 was drilled at a 60 degree inclination and is thought to be near perpendicular to the dip of mineralized structural trends.
Table 2. Summary of results from high-grade breccia zone.
Sections from 146.6m to 152.5m, silicified mineralized breccia, part of high-grade interval, 9.4m at 7.6 g/t Au and 5 g/t Ag.
The Company is hosting an investors webinar on Thursday, May 12th at 2:15 PM CST. Please join us in registering as we will discuss the Company’s path forward:
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 20,700 m of drilling have been completed to date. Significant results are highlighted below:
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.
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, CEO
820-1130 West Pender St.
Vancouver, BC V6E 4A4
Telephone: 1 888 772 2452