Calgary, Alberta – May 20, 2021. Tocvan Ventures Corp. (CSE: “TOC”) (“Tocvan” or the “Corporation”) is pleased to announce permits have been received for an additional 44 drill pads and seven (7) trenches at its flagship Pilar Gold-Silver Project in Sonora, Mexico. Permitting was initiated as a proactive measure to ensure the timely and consistent advancement of Pilar. The additional drill pads will be utilized both during the current drill program and during a Phase III program planned for the fall of 2021. The trenches are permitted to be five-meters by two-meters by twenty-meters (5m x 20 m x 2 m) in size and will be utilized later in the year to channel sample across key mineralized sections on the property and to submit bulk sample material for column leach metallurgical analysis. The seven trenches will provide up to 3,500 tonnes of material for metallurgical test work and bulk sampling, ultimately leading towards a larger bulk sample.
Drill Program Update
To date, fifteen (15) drill holes have been completed for a total of 2,370 meters (Figure 1). Samples for the first seven holes have been submitted to ALS Labs in Hermosillo. Early drilling focused on the extension of the Main Zone, testing down-dip extensions of mineralization in addition to stepping out along strike. Drill targeting has now shifted towards testing new areas along the 4-Trench Extension and Triple Vein Zone areas.
“As our current drill program advances we are extremely pleased with our field crews’ efforts”, commented VP Exploration, Brodie Sutherland. “In addition, we are excited to have received new drill and trench permits for Pilar to allow for the continued exploration and advancement of the project. The next phase of drilling and trenching will be an important next step for the company and will provide key information as we move towards development.”
Corporate Update
Tocvan is pleased to announce it has applied for the listing of its common shares on the OTCQB® Venture Market (“OTCQB”), a U.S. trading platform operated by the OTC Markets Group in New York, in addition to applying for eligibility with the Depository Trust Company (“DTC”).
Tocvan believes that DTC eligibility and trading on the OTCQB will provide additional liquidity and increase its visibility within the U.S. capital markets. The listing of the Company’s common shares on the OTCQB remains subject to the approval of the OTCQB and the satisfaction of applicable listing requirements. Tocvan will continue to trade on the CSX Canadian Securities Exchange under its symbol “TOC”.
