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Tocvan Ventures Drills 63.4 m of 0.6 g/t Au and 11 g/t Ag, including 29.9 m of 0.9 g/t Au and 18 g/t Ag at Pilar, Main Zone Extension

27.05.2022  |  The Newswire
Calgary, May 27, 2022 - Tocvan Ventures Corp. (the "Company") (CSE:TOC); (OTC:TCVNF); (FSE:TV3), is pleased to announce drill results from its Pilar Au-Ag Project in Sonora, Mexico. Results for core drill holes JES-22-61 and JES-22-64 are provided in this release, both Main Zone extension targets infilling a gap and stepping out from holes JES-22-59 (116.9m at 1.2 g/t Au) and JES-22-62 (108.6m at 0.8 g/t Au) (see Figure 1). JES-22-61 returned 63.4-meters at 0.6 g/t Au and 11 g/t Ag, including 29.9-meters at 0.9 g/t Au and 18 g/t Ag. Within the broader mineralized interval, consistent gold mineralization was recorded within a silicified sulphide-bearing breccia returning 8.9-meters at 2.1 g/t Au, 45 g/t Ag and 6.1% Zn, the highest consistent base-metal mineralization drilled to date (see Plate 1). JES-22-64 was successful in intersecting a broad anomalous gold zone, indicating mineralization continues further to the southeast.

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 two drill holes are pending.

Drill Highlights

JES-22-61 (Core)

  • 63.4m at 0.6 g/t Au and 11 g/t Ag, from 60.8m

    • Including 29.9m at 0.9 g/t Au and 18 g/t Ag, from 60.8m

    • Including 8.9m at 2.1 g/t Au, 45 g/t Ag and 6.1% Zn, from 81.8m

JES-22-64 (Core)

  • 107.3m at 0.1 g/t Au, from 60.3m - Anomalous Zone on trend with JES-22-62

    • Including 44.8m at 0.2 g/t Au, from 93.2m

"Drilling southeast of our Main Zone continues to return excellent gold and silver values in intensely silicified breccia-hosted mineralization.", commented Brodie Sutherland, CEO. "Once again, the orientation of drilling has maximized success through this extension zone returning consistent values that warrant more drilling to fully evaluate the potential of the area. We are excited to evaluate the next steps at Pilar as we continue to move the project forward."

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-22-61 was successful in intersecting a significant zone of gold with broad mineralization in a silicified andesite host (63.4 meters of 0.6 g/t Au, including 29.9 meters of 0.9 g/t Au). The intersection included a silicified breccia zone grading 2.1 g/t Au, 45 g/t Ag and 6.1% Zn over 8.9 meters. This is the highest-grade base metal mineralization recorded to date. The broader low-grade interval correlates with mineralization in the Main Zone Trend, 85-meters southeast of JES-22-59 (116.9m of 1.2 g/t Au) and 50-meters northwest of JES-22-62 (108.6m of 0.8 g/t Au).

Drill hole JES-22-64, a 35-meter southeast step-out from JES-22-62, intersected a broad anomalous zone of 107.3-meters at 0.1 g/t Au. Mineralization looks to continue to the southeast, further drill testing along the trend will be required to confirm.

Results are pending for two holes on separate parallel trends.

Figure 1. Map of Phase III Drill Holes.


Click Image To View Full Size

Table 1. Summary of Drill Results.

Hole ID

From (m)

To (m)

Width (m)*

Au (g/t)

Ag (g/t)

JES-22-61

60.75

124.10

63.35

0.61

10.74

including

60.75

90.65

29.90

0.91

18.27

including

81.75

90.65

8.90

2.11

44.81

JES-22-64

60.30

167.60

107.30

0.08

2.25

including

93.20

138.00

44.80

0.15

1.00

including

135.30

138.00

2.70

1.21

2.33

*Reported widths are apparent widths, JES-22-61 and JES-22-64 were drilled at a 45 degree inclination both are thought to be near perpendicular to the dip of mineralized structural trends.

Figure 2. Cross-Section of JES-22-61.

­
Click Image To View Full Size

Plate 1. Photo of HQ Core from JES-22-61. Sections from 81.8m to 90.7m, silicified mineralized breccia,

part of higher-grade interval, 8.9m at 2.1 g/t Au, 45 g/t Ag and 6.1% Zn.


Click Image To View Full Size


Click Image To View Full Size

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:

  • 2021 Phase II RC Drilling Highlights include (all lengths are drilled thicknesses):

    • 39.7m @ 0.96 g/t Au, including 1.5m @ 14. g/t Au

    • 47.7m @ 0.70 g/t Au including 3m @ 5.6 g/t Au and 22 g/t Ag

    • 29m @ 0.71g/t Au

    • 35.1m @ 0.66 g/t Au

  • 2020 Phase I RC Drilling Highlights include (all lengths are drilled thicknesses

    • 94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;

    • 41.2m @ 1.1 g/t Au, including 3.1m @ 6.0g/t Au and 12 g/t Ag ;

    • 24.4m @ 2.5 g/t Au and 73 g/t Ag, including 1.5m @ 33.4 g/t Au and 1,090 g/t Ag

  • Historic Core RC drilling. Highlights include:

    • 61.0m @ 0.8 g/t Au

    • 16.5m @ 53.5g/t Au and 53 g/t Ag

    • 13.0m @ 9.6 g/t Au

    • 9.0m @ 10.2 g/t Au and 46 g/t Ag

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 33 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

Email: ir@tocvan.ca

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