(TheNewswire)
Highlights
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Consistent Gold Values Reported fromBulk Sample Improve Grade
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148 samples range between 0.8 and 3.4g/t Au, weighted mean of 1.85 g/t Au
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Silver values range between 5 and 26g/t Ag, weighted mean of 12.7 g/t Ag
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Fine Fraction Samples (excluded fromHeap Leach Process), Report Equal Gold and Silver Values
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32 Samples range between 1.2 and 2.8g/t Au, weighted mean of 2.02 g/t Au
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Silver values range between 9 and 25g/t Au, weighted mean of 15.6 g/t Ag
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Leaching Process Underway for BulkSample
Webinar Scheduled, 9am MST, May17 th . Sign up here:
https://meeting.zoho.com/meeting/register?sessionId=1035157013
Calgary, A B - TheNewswire - May 16, 2023 - Tocvan Ventures Corp. (the “ Company ” ) (CSE:TOC ) ( OTC:TCVNF ) ( FSE:TV3) , is pleased to provide an update andsampling results from a Bulk Sample being completed at its Pilargold-silver project in Sonora, Mexico. Sampling of duplicatematerial collected at regular intervals during crushing/screeningprocess from the Bulk Sample have returned consistent gold and silvervalues. In total, 148 samples were collected averaging 1.87 g/t Au and 13 g/tAg (see Table 1 for full results). The first batch of 32 samples (111 samples pending) were collected from the fine fractionof screened material not included in the heap leach pile, are showingslightly higher grades of gold and silver, averaging 2.02 g/t Au and 15.6 g/t Ag (see Table 2 for full results). The fine fractionalong with additional bulk sample material will be used in testinggravity recovery methods. Samples were submitted to ALS Hermosillo forfire assay and ICP analysis. Blanks and standards were submitted intothe sample stream as part of the Company’s robust QA/QC protocol Thesamples total 910.7 kg of crush reject material from the Bulk Samplecollected for heap leach testing. The heap leach process is currentlyunderway for the Bulk Sample. Over 800 tonnes of Bulk Sample materialhave been prepared for heap leach processing, an additional 350 tonnesof crushed material and 250 tonnes of raw-bulk sample are availablefor gravity recovery and later agitated leach testing as recommendedby an independent report provided by LTM.
"Pilarcontinues to surprise with excellent gold and silvervalues.” stated BrodieSutherland, CEO. “The results are clearly indicating the averagegrade of material making up the Bulk Sample are well above ourexpectations for gold and silver. To see this represented in the datagives us added confidence that Pilar can be advanced towardsproduction, especially with these impressive grades. We eagerly awaitthe results from heap leaching and further evaluation of gravityrecovery methods.”
Photo 1 &2. Bulk Sample heap leachpile during irrigation setup.
Table1 . Summary of results fromBulk Sample Duplicate Sampling.
Sample ID | Weight (kg) | Au (g/t) | Ag (g/t) | Sample ID | Weight (kg) | Au (g/t) | Ag (g/t) | Sampl e ID | Weight (kg) | Au (g/t) | Ag (g/t) | ||
407154 | 2.89 | 0.81 | 11.2 | 332701 | 6.43 | 1.90 | 15.7 | 332748 | 6.28 | 1.86 | 11.9 | ||
407155 | 2.22 | 1.39 | 8.7 | 332702 | 6.58 | 2.05 | 18.8 | 332750 | 5.77 | 1.48 | 9.9 | ||
407156 | 3.11 | 1.60 | 6.8 | 332703 | 5.79 | 1.68 | 24.9 | 332751 | 5.62 | 2.16 | 12.6 | ||
407157 | 5.97 | 2.12 | 17.6 | 332704 | 5.86 | 1.60 | 15.8 | 332752 | 6.59 | 1.84 | 9.9 | ||
407158 | 5.38 | 1.36 | 9.0 | 332705 | 6.85 | 1.37 | 9.6 | 332753 | 6.59 | 1.95 | 10.3 | ||
407159 | 6.70 | 1.59 | 9.6 | 332706 | 5.79 | 1.50 | 10.2 | 332754 | 6.27 | 0.97 | 10.3 | ||
407160 | 5.25 | 2.22 | 15.7 | 332707 | 6.02 | 2.28 | 4.7 | 332755 | 6.38 | 1.54 | 12.5 | ||
407161 | 6.05 | 1.17 | 7.0 | 332708 | 5.67 | 1.70 | 11.4 | 332756 | 6.13 | 2.12 | 10.2 | ||
407162 | 6.09 | 1.08 | 6.3 | 332709 | 5.77 | 1.19 | 14.6 | 332757 | 6.00 | 1.28 | 13.5 | ||
407164 | 4.86 | 1.04 | 6.5 | 332710 | 5.62 | 1.95 | 8.1 | 332758 | 6.03 | 1.41 | 8.8 | ||
407165 | 5.84 | 2.17 | 25.8 | 332712 | 6.01 | 2.11 | 17.7 | 332760 | 6.75 | 1.98 | 13.0 | ||
407166 | 5.82 | 1.97 | 17.1 | 332713 | 6.09 | 2.63 | 11.1 | 332761 | 5.45 | 1.29 | 10.1 | ||
407167 | 5.37 | 1.26 | 9.7 | 332714 | 5.35 | 1.97 | 11.2 | 332762 | 5.62 | 1.55 | 12.8 | ||
407168 | 5.47 | 1.44 | 17.5 | 332715 | 5.25 | 2.13 | 8.8 | 332763 | 6.83 | 1.78 | 13.0 | ||
407169 | 5.21 | 1.55 | 8.3 | 332716 | 7.54 | 2.66 | 6.2 | 332764 | 5.81 | 1.50 | 11.0 | ||
407170 | 6.14 | 2.06 | 11.4 | 332717 | 6.59 | 3.39 | 8.7 | 332766 | 6.36 | 3.00 | 10.6 | ||
407171 | 5.27 | 1.73 | 16.8 | 332718 | 7.37 | 1.49 | 8.7 | 332767 | 5.87 | 1.54 | 13.8 | ||
407172 | 6.18 | 2.18 | 19.3 | 332719 | 6.05 | 1.52 | 10.8 | 332768 | 6.29 | 1.66 | 9.5 | ||
407173 | 6.56 | 1.57 | 23.1 | 332720 | 6.15 | 1.49 | 10.8 | 332769 | 6.08 | 1.32 | 15.6 | ||
407174 | 6.12 | 2.87 | 13.8 | 332721 | 6.45 | 1.50 | 10.3 | 332770 | 6.30 | 1.36 | 11.6 | ||
407175 | 6.59 | 2.43 | 17.8 | 332723 | 6.08 | 2.21 | 9.6 | 332771 | 5.99 | 3.02 | 13.5 | ||
407177 | 6.65 | 1.60 | 18.9 | 332724 | 6.28 | 2.77 | 8.1 | 332772 | 6.68 | 1.48 | 11.2 | ||
407178 | 6.07 | 1.06 | 14.8 | 332725 | 6.65 | 1.96 | 10.2 | 332773 | 6.45 | 1.59 | 13.2 | ||
407179 | 5.87 | 1.49 | 14.9 | 332726 | 6.03 | 1.63 | 11.9 | 332774 | 5.84 | 1.55 | 15.6 | ||
407181 | 6.62 | 1.95 | 12.4 | 332727 | 7.07 | 1.17 | 7.1 | 332776 | 5.48 | 1.33 | 11.0 | ||
407182 | 6.68 | 1.47 | 16.2 | 332728 | 6.01 | 1.07 | 6.7 | 332777 | 5.95 | 2.56 | 16.9 | ||
407183 | 5.11 | 1.22 | 10.2 | 332729 | 6.23 | 1.54 | 13.6 | 332778 | 6.39 | 1.63 | 16.3 | ||
407184 | 5.61 | 1.40 | 6.3 | 332730 | 6.86 | 1.89 | 11.2 | 332779 | 6.35 | 1.49 | 15.1 | ||
407185 | 6.52 | 2.80 | 9.5 | 332731 | 6.46 | 2.18 | 10.0 | 332780 | 6.68 | 1.69 | 15.1 | ||
407186 | 6.29 | 2.29 | 11.4 | 332732 | 7.29 | 2.13 | 14.4 | 332781 | 5.63 | 2.25 | 16.8 | ||
407187 | 6.68 | 2.10 | 11.5 | 332733 | 6.04 | 3.14 | 11.0 | 332782 | 6.39 | 1.72 | 19.1 | ||
407188 | 5.80 | 3.37 | 9.1 | 332734 | 6.21 | 1.33 | 13.8 | 332783 | 5.97 | 1.67 | 14.9 | ||
407189 | 6.67 | 2.58 | 18.9 | 332735 | 6.44 | 1.30 | 15.9 | 332784 | 6.18 | 1.75 | 13.1 | ||
407190 | 5.85 | 1.94 | 18.3 | 332737 | 6.19 | 1.53 | 11.8 | 332785 | 5.94 | 1.62 | 16.9 | ||
407191 | 5.76 | 2.12 | 13.8 | 332739 | 5.73 | 1.49 | 18.7 | 332787 | 5.77 | 2.33 | 9.7 | ||
407192 | 6.40 | 1.83 | 13.5 | 332740 | 6.90 | 1.75 | 15.5 | 332788 | 6.23 | 1.88 | 10.8 | ||
407193 | 6.63 | 2.76 | 10.5 | 332741 | 6.72 | 1.24 | 13.6 | 332789 | 6.95 | 2.24 | 13.5 | ||
407195 | 6.13 | 2.75 | 7.8 | 332742 | 6.00 | 1.76 | 10.4 | 332790 | 4.35 | 1.74 | 15.1 | ||
407196 | 6.98 | 2.31 | 9.5 | 332743 | 5.53 | 1.28 | 10.7 | 332791 | 5.37 | 1.96 | 16.2 | ||
407197 | 6.14 | 2.44 | 12.1 | 332744 | 6.31 | 1.64 | 15.2 | 332792 | 6.07 | 2.38 | 15.1 | ||
407198 | 6.01 | 1.76 | 10.8 | 332745 | 7.22 | 1.53 | 15.0 | 332793 | 6.77 | 1.68 | 9.0 | ||
407199 | 7.08 | 1.87 | 14.2 | 332746 | 6.90 | 1.35 | 8.8 | 332794 | 6.64 | 1.82 | 13.6 | ||
407200 | 5.78 | 1.61 | 6.1 | 332747 | 5.08 | 1.58 | 10.6 | 332795 | 7.26 | 2.84 | 10.7 |
Table1 . Summary of results fromBulk Sample Duplicate Sampling (continued).
Weight (kg) | Au (g/t) | Ag (g/t) | |
332805 | 6.20 | 1.48 | 12.9 |
332807 | 6.06 | 2.75 | 13.4 |
332808 | 7.81 | 2.01 | 15.9 |
332809 | 6.26 | 1.53 | 20.1 |
332810 | 7.18 | 2.81 | 18.3 |
332811 | 6.59 | 1.74 | 14.2 |
332812 | 6.34 | 2.06 | 14.7 |
332813 | 5.90 | 2.43 | 9.7 |
332814 | 5.26 | 1.67 | 15.1 |
332815 | 6.75 | 1.67 | 12.1 |
332816 | 7.21 | 1.93 | 13.3 |
Table2 . Summary of results fromFine Fraction Material (not included in the bulk sample heap leachpile).
Sample ID | Weight (kg) | Au (g/t) | Ag (g/t) |
332818 | 5.25 | 1.83 | 18.1 |
332819 | 6.11 | 2.02 | 9.5 |
332820 | 6.11 | 1.95 | 11.4 |
332821 | 4.14 | 2.66 | 17.1 |
332822 | 4.42 | 1.15 | 9.3 |
332823 | 5.82 | 1.85 | 8.6 |
332824 | 4.93 | 2.21 | 11.0 |
332825 | 4.62 | 1.98 | 11.5 |
332826 | 6.23 | 1.44 | 12.3 |
332827 | 4.18 | 1.38 | 11.0 |
332828 | 6.29 | 1.76 | 20.3 |
332829 | 4.80 | 1.79 | 18.9 |
332830 | 5.36 | 2.56 | 12.1 |
332832 | 5.01 | 2.62 | 24.5 |
332833 | 3.48 | 2.17 | 10.6 |
332834 | 6.19 | 2.84 | 14.0 |
332835 | 4.20 | 2.19 | 14.0 |
332836 | 4.93 | 2.83 | 22.2 |
332837 | 5.18 | 2.62 | 22.8 |
332838 | 5.85 | 2.16 | 19.3 |
332839 | 7.00 | 2.63 | 19.7 |
332841 | 7.30 | 1.80 | 24.9 |
332842 | 5.69 | 1.92 | 23.3 |
332843 | 6.61 | 1.58 | 21.2 |
332844 | 6.67 | 1.34 | 16.9 |
332845 | 5.97 | 2.1 | 16.7 |
332846 | 6.58 | 1.37 | 14.5 |
332847 | 6.36 | 1.69 | 8.6 |
332848 | 6.88 | 2.08 | 10.5 |
332849 | 6.52 | 2.53 | 12.0 |
332850 | 5.23 | 1.86 | 11.5 |
332851 | 5.77 | 2.12 | 10.3 |
Diagnostic LeachStudy Summary
Full results from the Diagnostic Leach Study areavailable on the Company’s website and in the March 29 th news release.A summary is provided below.
Table3 . Summary of Results fromthe Precious Metals Diagnostic Leach Study completed by LTM.
Sample ID | Location | Head Screen Assay | Gravity Concentrate Assay | Total Recoverable by Gravity andAgitated Cyanide Leach | ||||
Au (g/t) | Ag (g/t) | Au (g/t) | Ag (g/t) | Au (%) | Ag (%) | |||
494741 | Main Zone (Surface) | 6.2 | 23 | 76.2 | 237 | 95 | 78 | |
494743 | Main Zone (Surface) | 8.2 | 68 | 117.0 | 1152 | 98 | 97 | |
494745 | Main Zone (Surface) | 2.7 | 9 | 35.6 | 82 | 97 | 90 | |
494747 | 4-T (Surface) | 20.4 | 74 | 290.3 | 568 | 98 | 85 | |
494749 | Main Zone (Drill Core) | 24.9 | 9 | 231.1 | 53 | 99 | 73 |
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 Drilling Highlights include( all lengths are drilledthicknesses ):
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116.9m @ 1.2 g/t Au, including 10.2m @ 12 g/t Au and 23g/t Ag
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108.9m @ 0.8 g/t Au, including 9.4m @ 7.6 g/t Au and 5g/t Ag
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63.4m @ 0.6 g/t Au and 11 g/t Ag, including 29.9m @ 0.9g/t Au and 18 g/t Ag
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2021 Phase II RC Drilling Highlights include( all lengths are drilledthicknesses ):
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2020 Phase I RC Drilling Highlights include ( all lengths are drilled thicknesses
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94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38g/t Ag;
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41.2m @ 1.1 g/t Au, including 3.1m @ 6.0 g/t Au and 12g/t Ag ;
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24.4m @ 2.5 g/t Au and 73 g/t Ag, including 1.5m @ 33.4g/t Au and 1,090 g/t Ag
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15,000m of Historic Core RC drilling. Highlightsinclude:
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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
Samples were shipped for sample preparation to ALSLimited in Hermosillo, Sonora, Mexico and for analysis at the ALSlaboratory in North Vancouver. The ALS Hermosillo and North Vancouverfacilities are ISO 9001 and ISO/IEC 17025 certified. Gold was analyzedusing 50-gram nominal weight fire assay with atomic absorptionspectroscopy finish. Silver and other elements were analyzed using afour-acid digestion with an ICP finish. Control samples comprisingcertified reference samples and blank samples were systematicallyinserted into the sample stream and analyzed as part of theCompany’s robust quality assurance / quality control protocol.
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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