(TheNewswire)
More PositiveResults as Final Recovery Pendin g
Highlights
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Leaching Process Concluded,Preliminary Results Confirm Process Actively Recovering Gold andSilver
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44 days of Active Leaching wereCompleted for the Test
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Two Certified Labs ConfirmGrade
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Final Results for Recovery arePending
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Company Prepares for NextSteps
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Recovery of Gold and Silver from BulkSample
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Gravity Recovery and Agitated LeachTests
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NEW Agitated Bottle Roll TestReturns:
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81% Recovery of Gold and 99% Recoveryof Silver after 72-hour Retention Time
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Channel Sampling of Trenches
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Drill Program Preparation (Permittedfor 83 Drill Pads)
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Calgary, Alberta - TheNewswire - July 4, 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. The leaching process hasconcluded, and the Company’s technicians are now washing andprepping the leach pad for final sampling, decommissioning andprecious metal recovery. The leaching process was active for 44 days,extracting gold and silver from over 800 tonnes of bulk samplematerial. Sampling of the Bulk Sample material was completed in May,(News Release, May 16, 2023) results from ALS (Hermosillo) provided an average grade of 1.9 g/t Au and 12.7 g/t Ag . An onsite laboratory was used to sample the pregnantsolution during the program with weekly duplicate samples sent tocertified labs LTM (Hermosillo) and SGS (Durango). LTM (Hermosillo)will provide an official calculated head grade and recovery of goldand silver based on their final analysis of the data. The Company ispleased with the progress of data capture throughout the process andencouraged by the early indications of successful gold and silverrecovery.
Agitated Leach Update
As previously announced, an additional 350 tonnes ofcrushed material and 250 tonnes of raw-bulk sample are available forgravity recovery and later agitated leach testing. Samples collectedfrom the fine fraction of screened material not included in the heapleach pile averaged 2.1 g/t Auand 14.8 g/t Ag . The fine fraction along withadditional bulk sample material will be used in testing gravityrecovery methods with later agitated leach, as suggested by theleaching study completed by LTM, showing potential for the highrecovery of both gold and silver. A new agitated cyanide bottle rolltest by LTM of 20 Mesh material has returned 81% recovery of Gold and 99%recovery of Silver after a 72-hour retention time . Over the retention time, a moderate low sodium cyanideconsumption of 0.47 kg/t and moderate CaO consumption of 1.72 kg/twere recorded. LTM recommends bottle roll studies be completed forthree different grind sizes (100 Mesh, 140 Mesh and 200 Mesh) toevaluate the impact to extraction.
“We areextremely excited to have successfully completed this important stepand await the final results imminently.” Stated Brodie Sutherland, CEO. “The datawe have received so far has all been very encouraging and suggestsheap leach recovery at Pilar will match or exceed the recoveriesrecorded at neighboring open pit mines. In addition, continued studiesof the gravity and agitated leach recovery methods look to prove aneven stronger case for high gold and silver recovery at Pilar throughadvanced techniques.”
Plate1. A. Technicians preparingsolution samples. B. Lab Technicians collecting analytical data. C.Heap Leach Pile.
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.
Table1. 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 |
Share Issuance
In accordance with the financing completed on June 28,2022, the Company has issued 59,137 common shares at a deemed price of$0.475, as payment for interest accrued on Convertible Notes. TheCompany currently has 39,985,107 Common Shares outstanding.
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
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.Duplicate samples of cyanide solutions are submitted to LTM(Laboratorio Tecnológico de Metalurgia), in Hermosillo, Sonora. LTMfacilities are an ISO 17025 and ISO 9001:2015 certified lab. A secondduplicate of cyanide solutions are submitted to SGS in Durango. Goldand silver are analyzed using 30 g nominal weight fire assay with AAfinish for Au and gravimetric determination for Ag. Other elements areanalyzed using aqua regia digestion with an ICP finish.
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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