(TheNewswire)
Highlights
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Maiden Drill Program Ongoing at ElPicacho, within the Caborca Gold Trend, 18km from San FranciscoMine
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Initial Drilling at San Ramon Target,500-meter by 500-meter initial target area
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Two Key Target Areas with high-gradegold mineralization:
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Las Guijas – Underground workings,chip samples range from 0.5 to 8.2 g/t Au, Average 3.6 g/t Au
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San Ramon – 90-meter undergrounddrive, chip samples range from 0.3 to 22 g/t Au, Average 5.0 g/tAu
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Currently Permitted for 14 Drill Padsat San Ramon
Calgary, Alberta – TheNewswire - November 17, 2022 - Tocvan Ventures Corp. (the “Company”) (CSE:TOC ) ; ( OTC:TCVNF ) ; ( FSE:TV3), is pleased to announce drilling is ongoing at its El PicachoGold-Silver Project in Sonora, Mexico. Initial drilling is focused ontwo primary areas within the San Ramon Prospect, Las Guijas and SanRamon. Both target areas have returned high-grade gold with silvermineralization associated with historic mine workings. In 2012, threereconnaissance RC drill holes were completed by Timmins Gold. Allthree drill holes intersected low-grade mineralization and alterationassociated with multiple shear-zones, de-risking the potential forcontinued mineralization at depth. The high-grade corridors associatedwith the old mine workings were never drill targeted. The Companyplans to tie together the low-grade mineralization seen in historicdrilling with the high-grade sampled from the workings throughtargeted drilling. Analysis and interpretation of this data will beused to plan follow-up drilling. El Picacho is host to several othertarget areas permitted for drilling that span across the 24km 2 project area.
"We are very excited to bedrilling at El Picacho where there is no shortage of drill targets toevaluate the potential of this highly prospective area,” stated Brodie Sutherland, CEO . “San Ramon has long been our prioritytarget due to the established historic workings identifying high-gradestructures with the potential of low-grade mineralization in between.There are a lot of parallels to the local San Francisco Mine which wasdiscovered from very similar surface characteristics and substantialartisanal workings. We look forward to evaluating these results as westart to unlock the potential of El Picacho.”
Click below to hear CEO, BrodieSutherland explain more:
Figure 1. ElPicacho Project, San Ramon Prospect Target Map.
About the El Picacho Property
The El Picacho Gold-Silver property is interpreted as an orogenic goldsystem within the regional Caborca Orogenic Gold Belt known forproducing gold mines that include La Herradura (>10 Moz Au) and SanFrancisco (>3 Moz Au). The project is 140 kilometers north ofHermosillo and only 18 kilometers southwest of the producing SanFrancisco Mine. The Project totals 24 square kilometers. Five primaryzones of mineralization have been identified across the propertytotalling over six kilometers of prospective trends. Surface samplingand historic workings have identified high-grade gold and silvervalues. The project has only seen widely spaced reconnaissancedrilling with no follow-up. Tocvan believes this provide an excellentopportunity for discovery of a muti-million ounce district.
Figure 2. Overviewmap of the El Picacho Gold-Silver Project.
Figure 3.Schematic Cross-Section of The El Picacho Exploration Model.
San Francisco Pit outline shown assize reference only
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 22,000 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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Figure 3. Map ofSonora, Mexico with the location of Tocvan’s Projects relative toother major Sonora projects
About Tocvan VenturesCorp .
Tocvan is a well-structured exploration developmentcompany. Tocvan was created in order to take advantage of theprolonged downturn the junior mining exploration sector, byidentifying and negotiating interest in opportunities where managementfeels they can build upon previous success. Tocvan has approximately37 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 defined by CanadianNational Instrument 43-101, has reviewed and approved the technicalinformation contained in this release.
Cautionary Statement RegardingForward Looking Statements
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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