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Calgary, Alberta – February 15, 2022 Tocvan Ventures Corp. (the “Company”) (CSE: TOC; OTCQB: TCVNF; FSE: TV3), is pleased to provide an update on operations at its Pilar Au-Ag Project in Sonora, Mexico. A Phase III drill program is currently underway following up on Main Zone expansion targets and new target areas identified in 2021. A second drill rig has been mobilized to increase productivity, a diamond drill rig will accompany RC drilling and assist in understanding the key geological and structural controls of mineralization.
Core drilling (JES-22-59) has been successful in intersecting a heavily oxidized and fractured mineralized breccia in a twin hole of RC drill hole JES-20-32, completed in 2020 (94.6m at 1.6g/t Au). The strongest mineralization noted in JES-20-32, at 9.2m of 10.8 g/t Au and 38 g/t Ag correlates with a strongly oxidized, brecciated andesite bounded by a distinct fault gauge. Mineralization appears to be primarily hosted in an intensely silicified breccia with pyrite and in select areas copper sulphides (chalcopyrite and cuprite) (see Plates 1 & 2.). Assay results for JES-22-59 are pending. This information will be integral to the planning and design of future drill programs and will provide a more accurate account of the distribution of grade through the Main Zone, helping to define a reliable geological model and future resource estimate. At the Main Zone, four drill holes have been completed to date totalling 684 meters.
“Although the results of JES-22-59 are visual at this stage, the direct correlation with assays results in the twin RC hole JES-20-32, indicate our Main Zone is hosted within a mineralized breccia.”, commented CEO, Brodie Sutherland. “This is significant as it suggests that mineralization is not isolated to narrow veins but in places hosted in a broad breccia body that is much more attractive as a development target. Historically Pilar has seen over 22,200 meters of RC drilling and only 1,307 meters of core drilling leaving a lot unknown about the true style and host of mineralization. What we have been able to accomplish early on in this program will have a profound impact on how we explore Pilar moving forward. We are excited to apply this knowledge across the property as we drill target beyond our Main Zone.”
In addition, the Company would like to announce that it has entered a strategic arrangement with a local producer to assist in the advancement of metallurgical studies. A bulk sample from trench T-21-3 (Figure 1.) has been submitted to SGS (Durango) for column leach study. In tandem with the processing and evaluation of this material, the local producer has agreed to process additional samples to aid in the advancement and optimization of metallurgical work. These studies have the ultimate goal of preparing Pilar for a larger bulk test mine scenario.
Plate 1. Photos of Core from JES-22-59, twin of RC drillhole JES-20-32. 55m to 60m.
A. Major fault zone bounding mineralization.
B. Start of mineralized breccia zone.
Plate 2. Photo of Core from JES-22-59, twin of RC drillhole JES-20-32.
C. 102m to 105m, silicified mineralized breccia
Figure 1. Cross-section of drill hole JES-20-32
Table 1. Recap of results from RC drillhole JES-20-32
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 22,700 m of drilling have been completed to date. Significant results are highlighted below:
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.
Quality Assurance / Quality Control
RC chips and drill core 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.
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.
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