(TheNewswire)
Calgary, A B - TheNewswire - December 15, 2022 - Tocvan Ventures Corp. (the “Company”)(CSE:TOC ) ( OTC:TCVNF ) ( FSE:TV3), is pleased to announce it hasentered into an agreement with a neighboring private mining companyfor the completion of its first bulk sample from the Pilar Gold-SilverProject in Sonora, Mexico. Bulk sample material will be prepared earlyin 2023 for processing by heap-leach method at a private miningoperation less than 25 kilometers to the west of Pilar. Up to 1,000tonnes of material will be processed for the bulk sample, which willaim to provide a more detailed account of expected head-grade andrecovery percentage of gold. Total duration of the processing andanalysis of the bulk sample is expected to span three to four months.The information provided from the sample will be used for planning incoordination for permitting of full-scale mine and process facilitieson-site at Pilar.
Pilar Project Summary:
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Over 22,000 metersdrilled to date
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Gold-Silver Mineralization defined from surface along a 600-meter Trend andexpanding
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Drilling Highlighted by: 116.9-meters of 1.2 g/t Au , including 10.2-meters of 12 g/t Au and 23 g/t Ag
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Preliminary Gold Recovery from Bottle-Roll and ColumnLeach above 85%
Next Steps:
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Bulk Sampling
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Continued Drilling (SE Extensions and Infill)
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Updated Reporting and Maiden Resource Estimate
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Permitting for Full-Scale On-site Mine Facilities and Processing
Video Summary of the Upcoming BulkSample:
"A bulk sample at Pilar is animportant next step in showcasing the head-grade and recovery ofgold,” stated Brodie Sutherland,CEO . “We are very fortunateto have access to a local facility with all the needed equipment andsupport staff to conduct the sample. Planning is now underway to beginthe collection and processing of the sample in early 2023. Resultsfrom this sample will be used for permitting a full-scale facility atPilar, expected to be filed early in 2023. The next year is shaping upto be our most important and exciting yet as we continue to advanceboth our projects in Sonora. We wish all our shareholders a MerryChristmas and a happy and successful New Year and we’ll be back inearly January with more good things to come.”
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 recentlydiscovered. Structural features and zones of mineralization within thestructures follow an overall NW-SE trend of mineralization.Mineralization extends along a 1.2-km trend, only half of that trendhas been drill tested so far. To date, over 22,000 m of drilling hasbeen completed.
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2022 Phase III Diamond DrillingHighlights include ( all lengths are drilled thicknesses ):
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oo 116.9m @ 1.2g/t Au, including 10.2m @ 12 g/t Au and 23 g/t Ag
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oo 108.9m @ 0.8g/t Au, including 9.4m @ 7.6 g/t Au and 5 g/t Ag
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oo 63.4m @ 0.6g/t Au and 11 g/t Ag, including 29.9m @ 0.9 g/t Au and 18 g/tAg
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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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oo 94.6m @ 1.6g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;
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oo 41.2m @ 1.1g/t Au, including 3.1m @ 6.0 g/t Au and 12 g/t Ag ;
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oo 24.4m @ 2.5g/t Au and 73 g/t Ag, including 1.5m @ 33.4 g/t Au and 1,090 g/tAg
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15,000m of Historic Core RCdrilling. Highlights include:
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oo 61.0m @ 0.8g/t Au
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oo 16.5m @ 53.5g/t Au and 53 g/t Ag
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oo 13.0m @ 9.6g/t Au
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oo 9.0m @ 10.2g/t Au and 46 g/t Ag
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Figure 1. Map ofSonora, Mexico with the location of Tocvan’s Projects relative toother major Sonora projects
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 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 earning100% into two exciting opportunities in Sonora, Mexico: the PilarGold-Silver project and the El Picacho Gold-Silver project. Managementfeels both projects represent tremendous opportunity to createshareholder 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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