(TheNewswire)
Confirms Consistent Silver Valueswith Sampling of Bulk Crush Material at Pilar
Highlights
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Cascade Copper, a company formed withTocvan’s original project, Rogers Creek, is now trading on theCSE
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Dividend to Tocvan ShareholdersPlanned (See May 19th, 2022, news release)
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Initial Duplicate Sampling of BulkCrush Material Returning Consistent Silver Values Along withGold
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15 samples assayed up to 14.9 g/t Ag,averaging 8.8 g/t Ag
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Same 15 samples range between 1.11and 2.18 g/t Au, averaging 1.64 g/t Au (previouslyreported)
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Additional Samples (130 in total) arePending Results
Calgary, Alberta – TheNewswire - April 26, 2023 – Tocvan Ventures Corp. (the “ Company ” )(CSE:TOC ) ; ( OTC:TCVNF ) ; ( FSE:TV3), is pleased to announceCascade Copper (CSE: CASC) has completed its Initial Public Offeringand is now trading on the CSE as of April 25, 2023. As previouslyannounced in a news release on May 19, 2022, Tocvan plans to dividendshares of Cascade acquired from the sale of Rogers Creek toshareholders. Tocvan will update once a timeline for the dividend hasbeen set.
"We are excited to see Cascadecomplete its IPO and look forward to unlocking the value of this newopportunity to our shareholders” stated BrodieSutherland, CEO. “Cascadehas assembled a portfolio of exploration projects with excellentexposure to copper and gold targets in southern British Columbia. Wewish the Cascade team all the best in this new endeavor. Meanwhile,Bulk Sample results at Pilar continue to produce encouraging resultsof consistent gold and silver values. We look forward to updatingshareholders very soon with additional results.”
About Cascade Copper
Cascade Copper is an exploration stage natural resourcecompany engaged in the evaluation, acquisition and exploration ofmineral resource properties with the intention, if warranted, ofplacing them into production. More specifically, Cascade’s objectiveis to conduct an exploration program on its flagship Rogers CreekProperty located in the Coastal Mountain Belt of British Columbiaabout 90 kilometres northeast of Vancouver, in the Southwest MiningRegion. Cascade currently has three projects, with its core projectbeing the Rogers Creek Property. The Rogers Creek Property iscomprised of 10 mineral claims within two non-contiguous blockscovering approximately 10,586 hectares or about 105.86 squarekilometres. The Rogers Creek Property is currently being operated andexplored by Cascade. Refer to the Cascade’s Prospectus dated January24, 2023 on www.sedar.com for details of the Rogers Creek Property andthe exploration program.
Bulk Sample Update
In addition, the Company is pleased to provide andupdate from its Pilar gold-silver projects in Sonora, Mexico. Bulksample progress is ongoing, initial sampling of crush reject orduplicate material from the first two-days of crushing blendedmaterial has returned consistent gold and silver values. Samples weresubmitted to local certified lab, LTM. In total, 15 samples werecollected averaging 1.64 g/tAu and 8.8 g/t Ag (see Table 1 for fullresults, gold values were previously released). An additional 130samples have been submitted to ALS for full Fire Assay and ICPanalysis to evaluate gold and silver; results are pending. Over 800tonnes of bulk sample material have been prepared for processing, anadditional 350 tonnes of crushed material and 250 tonnes of raw-bulksample are available for gravity recovery and later agitated leachtesting as recommended by an independent report provided by LTM (seeDiagnostic Leach Study Summary below).
Crush Reject Sampling Results
Sample ID | Au (g/t)* | Ag (g/t) |
332651 | 2.17 | 11.5 |
Duplicate | 1.80 | 10.2 |
332653 | 1.79 | 3.8 |
332654 | 1.89 | 9.3 |
332657 | 1.71 | ND |
332658 | 1.83 | 7.0 |
332659 | 1.83 | 5.0 |
332660 | 2.18 | 13.7 |
332662 | 1.42 | 7.5 |
332663 | 1.25 | 11.0 |
332664 | 1.36 | 7.2 |
332665 | 1.53 | 14.9 |
332666 | 1.19 | 6.0 |
332667 | 1.11 | 10.6 |
332668 | 1.16 | 12.3 |
332669 | 1.99 | 10.7 |
Table1 . Summary of Results fromDuplicate Samples from On-site Crushing of Bulk Sample Material.Samples were collected during the first two-days of crushing. *Goldvalues were previously released on April 20 th . ND – no detection recorded.
Photo1. Bulk Sample Heap LeachPile Dimensions.
Photo 2. Heap Leach Pile ready forprocessing.
About the Bulk Sample
Over 1,400 tonnes of oxide-gold material have beenextracted from select areas exposed at surface across the projectarea, focusing on the Main Zone and 4-T Trends where preliminarycolumn leach studies have returned promising head-grade and recoveryresults. Bulk Sample material will be prepared for processing byheap-leach method at a private mining operation less than 25kilometers to the west of Pilar. Information from the sample will aimto provide a more detailed account of expected head-grade and recoverypercentage of gold along with providing key information to optimizefuture production facilities. The information provided from the samplewill be used for planning in coordination for permitting of full-scalemine and process facilities on-site at Pilar.
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.
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 |
Table2 . Summary of Results fromthe Precious Metals Diagnostic Leach Study completed by LTM.
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 the El Picacho Property
The El Picacho Gold-Silver property is interpreted asan orogenic gold system within the regional Caborca Orogenic Gold Beltknown for producing gold mines that include La Herradura (>10 MozAu) and San Francisco (>3 Moz Au). The project is 140 kilometersnorth of Hermosillo and only 18 kilometers southwest of the producingSan Francisco Mine. The Project totals 24 square kilometers of areashowing similarities in geology and structure as the San FranciscoMine. Five primary zones of mineralization have been identified acrossthe property totalling over six kilometers of prospective trends.Surface sampling and historic workings have identified high-grade goldand silver values. Recently the Company completed its first drillprogram at El Picacho, confirming its model and hitting significantgold mineralization In a step-out to historic workings. Drill holeSRA-22-010, intersected 44.2-meters of 0.6 g/t Au, including 12.2-meters of 2.0 g/t Au and 7g/t Ag . As exploration and drilling continues,Tocvan believes this provide an excellent opportunity for discovery ofa muti-million ounce district.
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 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
Composite samples were shipped for sample preparationand analysis to LTM in Hermosillo, Sonora, Mexico.
The LTM Hermosillo facilities are ISO 9001 and ISO/IEC 17025certified. Gold was analyzed using 30-gram nominal weight fire assaywith atomic absorption spectroscopy finish. Silver was analyzed aquaregia digestion with atomic absorption spectroscopy finish. Controlsamples comprising certified reference samples and blank samples weresystematically inserted into the sample stream and analyzed as part ofthe Company’s robust quality assurance / quality control protocol. Afull report from the Diagnostic Leach Study is available on theCompany website for review.
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
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