(TheNewswire)
Calgary, Alberta – TheNewswire - October 13, 2022 - Tocvan Ventures Corp. (the “Company”) (CSE:TOC ) ; ( OTC:TCVNF ) ; ( FSE:TV3), is pleased to announce preparations are underway for itsmaiden drill program at the El Picacho gold-silver Project in Sonora,Mexico. After a longer than expected wet season due to adverse weatherconditions in the region, the Company is now set to start itsoperating season with drilling at Picacho. Operations are expected tocontinue through to June of 2023, as the Company evaluates thepotential of several target areas at Picacho and continues to explore,drill and advance its Pilar project also in Sonora. Figure 1,highlights the key target areas across Picacho’s western half,including Tortuga, San Ramon (see news release September 13, 2022),Murcielago (see news release July 6, 2022), Virgen Maria and Jabali.All targets have artisanal workings with high-grade gold-silvermineralization, the Company is targeting the high-grade along with theuntested potential for broader low-grade zones. It should be notedthat no comprehensive modern exploration has been conducted betweenthe target areas and the Company believes there is significantevidence to suggest other target areas can be identified across the 24km 2 area that makes up the El Picacho Project.
“We are very excited to be backoperating in Sonora as we prepare for drilling our initial program atEl Picacho and continuing to evaluate and prepare for the next stepsat Pilar”, commented, Brodie Sutherland,CEO . At Picacho, we will beworking with an experienced drill contractor with extensive experiencedrilling the San Francisco Mine from exploration to mine development.We anticipate a busy operating season ahead and look forward toadvancing both our projects in Sonora.”
Figure 1. 3D Map of El PicachoProject, Highlighting Key Western Prospects including the Drill ReadySan Ramon Area
Sonora Site Tour Update
From October 1 st to 3 rd the Companycoordinated a site tour with investors and industry specialists toboth Sonora projects.
A summary video was created where CEO, BrodieSutherland outlines key prospect areas during the visit.
Please see the link below to watch the video:
The Company also took part in the core shack andpresented at the annual Discoveries Conference in Hermosillo, Mexicofrom October 4 th to 6 th . Core fromPilar was showcased over three-days drawing interest from regional& foreign professionals.
Pilar Next Steps
• Bulk Sampling of TrenchMaterial
• Continued Drilling ofInfill and Step-outs
? 2,000-meter InfillDrilling
? 3,000-meter Step-outand Exploration Drilling
• Permitting for on-site testfacilities
• Updated TechnicalReport
El Picacho Next Steps
• Maiden Drill Program (SanRamon Prospect)
• Trenching and SurfaceEvaluation across Target Areas:
? San Ramon (500m by500m target area)
? Jabali (450mtrend)
? Cornea (2,300mtrend)
• Prioritization of OtherDrill Targets
• Permitted for 15,000-metersof Drilling and 2,000-meters of Trenching
Figure 2. Map of Sonora, Mexico withthe location of Tocvan’s Projects relative to other major projectsin the region
Plate 1. Photos from the Site Tourand Discoveries Conference. A. Pilar, Main Zone Trench, 19.8m of 0.7g/t Au. B. Investors at North Hill Prospect, Pilar. C. Day One of CoreDisplay from Pilar, Main Zone, drillhole JES-22-59, 10.2m of 12 g/t Auand 23 g/t Ag. D. Dr. Raul Lugo displaying his structuralinterpretation from Pilar surface and televiewer data.
About the 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 provides an excellentopportunity for discovery of a muti-million ounce district.
Click Image To View Full Size
Figure 3. Overview map of the ElPicacho Gold-Silver Project.
Outlines of the San Francisco Mine Pits shown forreference.
Figure 4. Schematic X-Section of theEl Picacho Exploration Model showing potential across several untestedtrends. The San Francisco pit outline is usedfor reference only. Drill traces shown are conceptual based on theexploration model.
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 22,000 m of drilling has been completed.
• 2022 Phase III DiamondDrilling Highlights include (all lengths are drilledthicknesses):
? 116.9m @ 1.2 g/t Au,including 10.2m @ 12 g/t Au and 23 g/t Ag
? 108.9m @ 0.8 g/t Au,including 9.4m @ 7.6 g/t Au and 5 g/t Ag
? 63.4m @ 0.6 g/t Auand 11 g/t Ag, including 29.9m @ 0.9 g/t Au and 18 g/t Ag
• 2021 Phase II RC DrillingHighlights include (all lengths are drilled thicknesses):
? 39.7m @ 1.0 g/t Au,including 1.5m @ 14.6 g/t Au
? 47.7m @ 0.7 g/t Auincluding 3m @ 5.6 g/t Au and 22 g/t Ag
? 29m @ 0.7 g/tAu
? 35.1m @ 0.7 g/tAu
• 2020 Phase I RC DrillingHighlights include (all lengths are drilled thicknesses):
? 94.6m @ 1.6 g/t Au,including 9.2m @ 10.8 g/t Au and 38 g/t Ag;
? 41.2m @ 1.1 g/t Au,including 3.1m @ 6.0 g/t Au and 12 g/t Ag ;
? 24.4m @ 2.5 g/t Auand 73 g/t Ag, including 1.5m @ 33.4 g/t Au and 1,090 g/t Ag
• 15,000m of Historic Core& RC drilling. Highlights include:
? 61.0m @ 0.8 g/tAu
? 16.5m @ 53.5 g/t Auand 53 g/t Ag
? 13.0m @ 9.6 g/t Au
? 9.0m @ 10.2 g/t Auand 46 g/t Ag
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 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 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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