TCVNF - Tocvan Recon Sampling Returns New Surface Discovery at Pilar Gold - Silver Expansion
(TheNewswire)
Samples Include5.6 g/t Au and 106 g/t Ag, 4.5-kilometers from Pilar
Highlights
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Sign up for Webinar, October19 th here: TOCWebinar
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Rock Grab Sampling in Expansion AreaYields:
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NEW Surface Discovery, 4.5-km fromPilar - 5.6 g/t Au and 106 g/tAg
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Samples Immediately North of PilarYield:
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3.5 g/t Au and 645 g/t Ag
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1.8 g/t Au and 177 g/t Ag
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Historic sampling from dataset, 10g/t Au
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NEW Targets Will Be Quickly Advancedfor Drilling
Calgary, Alberta - TheNewswire - October 19, 2023 - Tocvan Ventures Corp. (the “ Company ” ) (CSE:TOC ) ( OTC:TCVNF ) ( FSE:TV3) , is pleased to announce first passreconnaissance results from its Pilar Gold-Silver Expansion Area inSonora, Mexico. The area includes highly prospective zones that haveseen limited exploration to date, recent placer mining in conjunctionwith historic mine workings, suggests untested gold and silverpotential (see Figure 1). Tocvan geologists have already completedinitial field reconnaissance to evaluate new target areas, the resultshave returned high-grade gold and silver values associated withintense hydrothermal altered volcanic rocks on the newly acquiredexpansion area, highlighting new prospects for further evaluation.Only twenty-three samples were collected during the first passreconnaissance, already discovering new target areas, including 5.6 g/t Au and 106 g/t Ag in a sample taken 4.5-kilometers from the Pilar MainZone . The rock grab sample was the first takenfrom a large hydrothermal alteration zone hosted in andesitic rockssimilar to those seen at Pilar. The extent of alteration in the areaof the sample spans for over 3.3-kilometers of strike and over a1.5-kilometer width as defined by satellite ASTER data (Figure 2).
Figure 1. Summary of Pilar Expansion Area Sampling. Large hydrothermalalteration cells, recent placer mining and similar geology to Pilarall indicate the area is highly prospective for Au-Ag and Cumineralization. The area has never seen systematic Au-Agexploration .
“Initial due diligence wascompleted to get a sense for the area, to quicky see those resultsyield high values for gold and silver showcases the true potentialbeyond Pilar.” stated Brodie Sutherland, CEO. “Not only are weseeing an extension of the Pilar mineralized system immediately to thenorth of the previous boundary, we are seeing significant gold valueswell beyond with excellent indications in the geochemistry that thereis more to be discovered. The source of the placer gold remainsuntested and open for evaluation. These areas will become focal pointsfor new targeting to rapidly advance drilling in the expansion area.The value of the acquisition at a strategic development standpoint wasinstrumental, now to be able to showcase the prospectivity of thisarea is an added benefit to our shareholders as we look to discoverthe true extent of Pilar and new satellite deposits.”
Figure 2. Highlights of Pilar Expansion Area Sampling with satellite ASTERinterpretation data denoting alteration mineralogy. Base image fromGoogle Earth.
Figure 3. High-grade sample 494827 returned5.6 g/t Au and 106 g/t Ag hosted in a strongly silicified andfractured andesite with boxwork pyrite.
Table 1. Summary of rock samples collectedacross the Pilar Property during reconnaissance sampling.
About the Pilar Property
The Pilar Gold-Silver property has recently returnedsome of the regions best drill results. Coupled with encouraging goldand silver recovery results from metallurgical test work, Pilar isprimed to be a potential near-term producer. Pilar is interpreted as astructurally controlled low-sulphidation epithermal system hosted inandesite rocks. Three primary zones of mineralization have beenidentified in the north-west part of the property from historicsurface work and drilling and are referred to as the Main Zone, NorthHill and 4-T. The Main Zone and 4-T trends are open to the southeastand new parallel zones have been recently discovered. Structuralfeatures and zones of mineralization within the structures follow anoverall NW-SE trend of mineralization. Mineralization extends along a1.2-km trend, only half of that trend has been drill tested so far. Todate, over 23,000 m of drilling has been completed.
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2022 Phase III Diamond DrillingHighlights include ( all lengths are drilled thicknesses ):
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116.9m @ 1.2 g/t Au, including 10.2m@ 12 g/t Au and 23 g/t Ag
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108.9m @ 0.8 g/t Au, including 9.4m @7.6 g/t Au and 5 g/t Ag
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63.4m @ 0.6 g/t Au and 11 g/t Ag,including 29.9m @ 0.9 g/t Au and 18 g/t Ag
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2021 Phase II RC Drilling Highlightsinclude ( all lengths are drilled thicknesses ):
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2020 Phase I RC Drilling Highlights include ( all lengths are drilledthicknesses
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94.6m @ 1.6 g/t Au, including 9.2m @10.8 g/t Au and 38 g/t Ag;
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41.2m @ 1.1 g/t Au, including 3.1m @6.0 g/t Au and 12 g/t Ag;
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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
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15,000m of Historic Core RCdrilling. Highlights include:
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61.0m @ 0.8 g/t Au
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16.5m @ 53.5 g/t Au and 53 g/t Ag
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13.0m @ 9.6 g/t Au
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9.0m @ 10.2 g/t Au and 46 g/t Ag
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About Tocvan VenturesCorp .
Tocvan is a well-structured exploration developmentcompany. Tocvan was created in order to take advantage of theprolonged downturn in the junior mining exploration sector, byidentifying and negotiating interest in opportunities where managementfeels they can build upon previous success. Tocvan has approximately39.9 million shares outstanding and is earning 100% into two excitingopportunities in Sonora, Mexico: the Pilar Gold-Silver project and theEl Picacho Gold-Silver project. Management feels both projectsrepresent tremendous opportunity to create shareholder value.
Brodie A. Sutherland, P.Geo., CEO for Tocvan VenturesCorp. and a qualified person (" QP ") as definedby Canadian National Instrument 43-101, has reviewed and approved thetechnical information contained in this release.
Quality Assurance / QualityControl
Rock chip grab samples were shipped for samplepreparation to ALS Limited in Hermosillo, Sonora, Mexico and foranalysis at the ALS laboratory in North Vancouver. The ALS Hermosilloand North Vancouver facilities are ISO 9001 and ISO/IEC 17025certified. Gold was analyzed using 50-gram nominal weight fire assaywith atomic absorption spectroscopy finish. Over limits for gold(>10 g/t), were analyzed using fire assay with a gravimetricfinish. Silver and other elements were analyzed using a four-aciddigestion with an ICP finish. Over limit analyses for silver (>100g/t) were re-assayed using an ore-grade four-acid digestion withICP-AES finish.
Cautionary Statement RegardingForward Looking Statements
Neither the Canadian SecuritiesExchange nor its regulation services provider (as that term is definedin the policies of the Canadian Securities Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
This news release contains“forward-looking information” which may include, but is notlimited to, statements with respect to the activities, events ordevelopments that the Company expects or anticipates will or may occurin the future. Forward-looking information in this news releaseincludes statements regarding the use of proceeds from the Offering.Such forward-looking information is often, but not always, identifiedby 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 andphrases, or state that certain actions, events or results “may”,“could”, “would”, “might” or “will” be taken, occur orbe achieved.
These forward-looking statements,and any assumptions upon which they are based, are made in good faithand reflect our current judgment regarding the direction of ourbusiness. 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 differentfrom any future results, performance or achievements expressed orimplied by the forward-looking information. Such factors include,among others, risks related to the speculative nature of theCompany’s business, the Company’s formative stage of developmentand the Company’s financial position. Forward-looking statementscontained herein are made as of the date of this news release and theCompany disclaims any obligation to update any forward-lookingstatements, whether as a result of new information, future events orresults, except as may be required by applicable securities laws.
There can be no assurance thatforward-looking information will prove to be accurate, as actualresults and future events could differ materially from thoseanticipated in such statements. Accordingly, readers should not placeundue 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.c a
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