Tocvan Restarts Drilling at Pilar, Targeting Priority Areas for Expansion. Outlines Path Forward for Sonora Projects

Calgary, AlbertaJune 22, 2022 Tocvan Ventures Corp. (the “Company”) (CSE: TOC; OTCQB: TCVNF; FSE: TV3), is pleased to announce drilling has recommenced at its Pilar Au-Ag Project in Sonora, Mexico. As a continuation of Phase III, drilling will focus on priority exploration targets across the property. Targeting parallel trends and trend extensions will remain a focus as the Company looks to rapidly define the extent of mineralization at Pilar. Recent reconnaissance drilling in a 200-meter gap between the Main Zone and 4-T Trend was successful in defining a new parallel trend (JES-22-63 returned 54.9-meters at 0.3 g/t Au and 5 g/t Ag from 6.1-meters depth). Another 200-meters to the east, surface exploration returned chip samples of 6.6 g/t Au and 433 g/t Ag defining an untested extension of the 4-T Trend, both of these targets will be tested during this stage of drilling.

 “We are excited for this next stage of drilling at Pilar, as we feel the potential to expand the known areas of mineralization is very significant,” commented Brodie Sutherland, CEO. “All of these targets have compelling surface geochemistry that warrant further evaluation. Information collected here will be instrumental to the next steps of development as we look to utilize substantial funding to fully unlock the potential of Pilar.” 

Figure 1. Map of Phase ||| Drill Holes with Next Stage of Drilling (Red).

Next Stage Drill Targets

  • Follow-Up on NEW Discovery Trend
  • JES-22-63 (RC)
    • 54.9m at 0.3 g/t Au and 5 g/t Ag, from 6.1m
      • Including 13.7m at 0.6 g/t Au and 13 g/t Ag, from 6.1m
        • Including 4.6m at 1.6 g/t Au and 29 g/t Ag, from 6.1m
      • And 9.2m at 0.6 g/t Au and 3 g/t Ag, from 42.7m
    • Soil Sample 170-meter southeast on trend returned 340 ppb Au and 19 ppm Ag
    • 4-T Extension
      • Surface Chip sampling up to 6.6 g/t Au and 433 g/t Ag in silicified fault (See Plate 1.)
      • Soil Sample 100-meter southeast on trend returned 1,090 ppb Au and 127 ppm Ag
    • 4-T Expansion
      • Untested, elevated surface sampling over 300-meter trend

Plate 1. Photo of rock chip sample 7591, which returned 6.6 g/t Au and 433 g/t Ag as part of the 4-T Extension target.

Near-Term Catalysts at Pilar

  • Ongoing Exploration and Expansion Drilling
  • Ongoing Metallurgical Studies
  • Advancing Towards:
    • Maiden Resource Estimate
    • Bulk Test Mine Determination


Update on Metallurgical Studies

Metallurgical analysis of select trench samples are still underway, the Company expects reports to be available soon. The Company’s expectation is to have Pilar match other regional analogs that show a range of gold recovery between 67.6% (La Colorada, Argonaut Gold. 2022 Technical Report) and 75% (Santana, Minera Alamos. April 7, 2022 News Release). Continuous metallurgical work will be required to understand best methods to recover gold and silver across different domains on the project.

 Exploration Update on El Picacho

Over the past two months field crews have been evaluating priority target areas at the El Picacho Au-Ag project. A total of  180 samples have been collected to date and are pending results. A preliminary trench program assessing the San Ramon and Jabali target areas is being planned for this summer.

Near-Term Catalysts at El Picacho

  • Ongoing Surface Exploration and Mapping
  • Advancing Towards:
    • Trench Program (San Ramon, Jabali, Cornea targets)
    • Maiden Drill Program (San Ramon target)

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