Tocvan Ventures Corp. (CSE:TOC) (CNSX:TOC.CN) (“Tocvan” or the “Corporation”) is pleased to announce results for the next four drill holes from its Phase II drill program (the “Program”) at the Pilar Gold-Silver Project in Sonora, Mexico. A Phase II drill program was completed in June with over 3,500 meters of reverse circulation (RC) drilling in twenty (20) drill holes. Results for four drill holes from the 4-Trench target area are included in this release, highlighted by drill hole JES-21-53 which returned 15.3 meters at 1.1 g/t Au. The results from 4-Trench have defined a new mineralized trend 500 meters long adjacent to the established Main Zone (Figure 1). Three (3) drill holes from new target areas are pending results.
Drill Result Highlights
JES-21-53 (Figure 1)
- – 15.3 meters at 1.1 g/t Au and 2 g/t Ag from 36.6 to 51.9 meters
- – Including 4.6 meters at 2.4 g/t Au and 3 g/t Ag from 41.2 to 45.8 meters
– Including 1.5 meters at 4.6 g/t Au and 3 g/t Ag from 42.7 to 44.2 meters
- – Including 4.6 meters at 2.4 g/t Au and 3 g/t Ag from 41.2 to 45.8 meters
JES-21-52
- – 3.0 meters at 0.63 g/t Au and 47 g/t Ag from 33.6 to 36.6 meters
– And 3.0 meters at 0.49 g/t Au and 31 g/t Ag from 41.2 to 44.2 meters
JES-21-55
- – 10.7m at 0.43 g/t Au and 4 g/t Ag from 10.7 to 21.4 meters
- – Including 1.5 meters at 1.2 g/t Au and 7 g/t Ag from 12.2 to 13.7 meters
“Drilling along the 4-Trench extension target has defined a new trend over a 500m strike length immediately adjacent to our Main Zone”, commented VP Exploration, Brodie Sutherland. “We are seeing mineralization in every hole along the trend with grades above 1 g/t gold in holes JES-21-53 and JES-21-44, 100m apart. This first pass of drilling has started to unlock the potential of a new parallel trend to our Main Zone which we are excited to test in our next phase of drilling.”
Results Discussion
JES-21-52 – The hole was planned to test the 4-Trench Extension target. Drilling intersected a broad low-grade zone from 7.6 to 44.2m of 0.18 g/t Au and 7 g/t Ag, including a two higher grade sections with 3m of 0.63 g/t Au and 47 g/t Ag along with 3m of 0.49 g/t Au and 31 g/t Ag. (see Table 1).
JES-21-53 – The hole was planned to test the 4-Trench Extension target 100m on trend with drill hole JES-21-44. The hole intersected 15.3m of 1.1 g/t Au, including 1.5m of 4.6 g/t Au.
JES-21-54 – The hole was planned to test the 4-Trench Extension target 100m along trend from JES-21-53. Drilling intersected a broad low-grade zone from 45.8 to 74.2m of 0.11 g/t Au.
JES-21-55 – The hole was planned to test 4-Trench Extension target at the northwest extent of the trend. The hole intersected 10.7m of 0.43 g/t Au, including two elevated zones each 1.5m at 1.2 g/t Au. The hole was stopped due to a mechanical issue before reaching final target depth. The hole ended in 0.19 g/t Au and 31 g/t Ag.
Click Image To View Full Size
Figure 1. Planview Map of Phase II Drill Program Update.
Table 1. Summary of Drill Results
Click Image To View Full Size
*Insufficient drilling has been undertaken to determine true widths. All widths reported are core length. Gold equivalent (“AuEq”) is calculated using metal prices of $1,700/oz gold and $18/oz silver.
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 19,200 m of drilling have been completed to date. Significant results are highlighted below:
- – 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
– 17,700m of 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
- – 94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;
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.
Brodie A. Sutherland, P.Geo., VP Exploration 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.
Quality Assurance / Quality Control
RC chips 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 currently has approximately 28 million shares outstanding and is earning into two exciting opportunities. The Pilar Gold-Silver project in Sonora, Mexico and the Rogers Creek Copper project in southern British Columbia, management feels both projects represent tremendous opportunity to create shareholder value.
FOR FURTHER INFORMATION, PLEASE CONTACT:
TOCVAN VENTURES CORP.
Derek A. Wood, President and CEO
Suite 1150 Iveagh House,
707 – 7th Avenue SW
Calgary, Alberta T2P 3H6
Telephone: (403) 668 7855 EXT 101
Email: dwood@tocvan.ca
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.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.