(TheNewswire)
Updates on LatestResults as Heap Leach Continues
Highlights
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Leaching Process Ongoing, PreliminaryResults Confirm Process Actively Recovering Gold and Silver
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Gold and Silver Reported in InitialTesting of Carbon Filters
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Solution Samples Assayed at TwoSeparate Certified Labs Confirm Grade
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Fine Fraction Samples (to be used forGravity Recovery and Agitated Leach Tests)
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New samples range between 1.2 and 4.9g/t Au, weighted mean of 2.1 g/t Au
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Silver values range between 5 and 29g/t Ag, weighted mean of 14.8 g/t Ag
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Leach Study Returned 95-99% Recoveryof Gold; 73-97% Recovery of Ag
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Metallic Screen Results Show 12.4 to14.1% of the Gold is Coarse (+140 mesh)
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Calgary, AB - TheNewswire - June 13,2023 - 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 Company’s fieldmanagement and technicians remain active with the heap leach processongoing for the Bulk Sample. Over 800 tonnes of material are beingprocessed through heap leach, an additional 350 tonnes of crushedmaterial and 250 tonnes of raw-bulk sample are available for gravityrecovery and later agitated leach testing. Initial results from thefirst week of leaching highlight the start of gold and silver goinginto solution for recovery. An onsite laboratory is being used duringthe program with weekly duplicate samples sent to LTM (Hermosillo) andSGS (Durango). The results confirm the performance of the onsitelaboratory and indicate a successful start to the leaching process(see Charts 1 and 2). Results from initial sampling of the carbonmaterial used to filter the leaching solution and capture gold andsilver indicate the process is performing well. In addition, 148samples new samples were collected from the fine fraction of screenedmaterial not included in the heap leach pile are showing improvedgrades of gold and silver, averaging 2.1 g/t Au and 14.8 g/t Ag . The finefraction along with additional bulk sample material will be used intesting gravity recovery methods with later agitated leach, assuggested by the leaching study completed by LTM, showing potentialfor the high recovery of both gold and silver (see Table 2). LTM alsocompleted a metallic screen study on the fine fraction materialindicating that 12.4 to 14.1% of the Gold and 4.5 to 5.3% of theSilver are distributed within the coarser screened (+140 mesh)material, suggesting that most of the gold and silver is fine butcoarse and free gold are still present. All other samples weresubmitted to ALS Hermosillo for fire assay and ICP analysis. Blanksand standards were submitted into the sample stream as part of theCompany’s robust QA/QC protocol. The assayed samples total 815.8 kgof fine fraction material.
"As the bulksample continues, preliminary results are showing the excellentpotential of Pilar.” statedBrodie Sutherland, CEO. “With each step forward, we are getting a moreaccurate representation of what kind of grade and recovery potentialexist at Pilar, giving us added confidence for the development of theproject. We look forward to updating as we continue to evaluate thebulk sample and compare multiple recovery methods to optimize thatpotential.”
Plate1. A. Bulk Sample heap leachpile. B. Testing solution during leaching. C. Initial loading ofcarbon in leaching tanks.
Table1 . Summary of Metallic ScreenResults from Two Tests of the Fine Fraction Material. Data provided byindependent, ISO certified, LTM of Hermosillo, Mexico. Up to 14.1% ofthe gold is showing up in the coarer, +140 mesh screen size .
Sample ID | Au (g/t) | Ag (g/t) | Au Distribution (%) | Ag Distribution (%) | |
332655 | +140 mesh | 11.46 | 21.98 | 12.44 | 5.34 |
-140 mesh | 2.68 | 12.95 | 87.56 | 94.66 | |
Calculated Head | 2.97 | 13.24 | |||
332656 | +140 mesh | 8.05 | 15.27 | 14.07 | 4.47 |
-140 mesh | 1.42 | 9.40 | 85.93 | 95.53 | |
Calculated Head | 1.60 | 9.56 |
Chart1 . Solution Sample Resultsfrom initial 53 hours of testing, provided by independent and ISOcertified, LTM of Hermosillo, Mexico. Values are for gold (ppm or g/t)displaying a steady progression of concentration from 0.7 ppm to 3.5ppm. The results match expectations and are expected to taper offslightly over time.
Chart 2
. Comparison of Solution SampleResults from SGS, LTM and Internal Labs confirming grades reported.All show strong correlation with the internal lab reporting the mostconservative results.
Click Image To View Full Size
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.
Table2. 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 DrillingHighlights include ( all lengths are drilled thicknesses ):
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116.9m @ 1.2 g/t Au, including10.2m @ 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 are submitted to LTM (Laboratorio Tecnológico deMetalurgia), in Hermosillo, Sonora. LTM facilities are an ISO 17025and ISO 9001:2015 certified lab. Gold and silver are analyzed using 30g nominal weight fire assay with AA finish for Au and gravimetricdetermination for Ag. Other elements are analyzed using aqua regiadigestion 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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