(TheNewswire)
Calgary, Alberta - TheNewswire- March 24, 2022 - Tocvan Ventures Corp. (the “Company”)(CSE:TOC ) (CNSX:TOC.CN) ( OTC:TCVNF ) ( FSE:TV3), is pleased to provide anupdate from its Pilar Au-Ag Project in Sonora, Mexico. 1,500 meters ofPhase III drilling has been completed in nine drill holes providingessential information across the Main Zone and 4-T Trend (see Figure1). All samples have been submitted to ALS (Hermosillo) forpreparation and analysis and will start to be releasedimminently.
Update on Drilling
Nine drill holes have been completed totalling over1,540 meters (Figure 1). Drilling looked to expand the Main Zonethrough 25, 50 and 100-meter step-outs to the southeast in a gap zonethat has seen little drilling focused on the main trend between holeJES-20-32 (94.6m at 1.6 g/t Au) and hole JES-21-50 (39.7m at 0.96 g/tAu). Drilling also covered the 4-T Trend testing below trench T-21-3,which returned 19.5 meters at 0.61 g/t Au.
Figure 1. Map of Pending Phase IIIDrill Holes.
“As we prepare to receive thedrill results from the start of Phase III drilling, we look forward tothe next stage of planning and drilling at Pilar”, commented Brodie Sutherland, CEO . “ Results have taken longer to process dueto the changing COVID-19 environment, but we are thankful to see thatimproving in Mexico and thank our shareholders for their patience.Metallurgical results are also anticipated to be analyzed and releasedover the next two months and will provide us with further insight ongold and silver recoveries at Pilar.”
Update on Metallurgy
The Company has submitted five samples from Pilar forcolumn leach study. A summary is provided in the Table 2. Head graderesults for the first sample submitted to SGS Durango has returned0.95 g/t Au and 9.5 g/t Ag.
Table 1. Summary of Metallurgical Bulk Samples
Sample ID | Weight (Kg) | Head Grade (Au) | Head Grade (Ag) | Note |
Met-Pil-01 | 321.6 | 0.95 g/t | 9.5 g/t | |
Met-Pil-01 | 106.4 | TBD | TBD | Duplicate |
Met-Pil-02 | 110.1 | TBD | TBD | |
Met-Pil-03 | 113.4 | TBD | TBD | |
Met-Pil-04 | 135.8 | TBD | TBD |
Annual General Meeting
The company’s Annual General Meeting (AGM) will takeplace April 8 th , 2022 . The Companyencourages all shareholders to participate in the meeting.
Update on El Picacho Project
Site visits and planning are underway at Picacho todetermine the best use of exploration funds in the near-term.Currently permitting is in place for up to 15 kilometers of drillingand two kilometers of trenching. Drilling will take place onceassessment of key target areas by mapping, geochemistry and geophysicsare complete. The Company believes El Picacho will create significantshareholder value. Highlights of the Picacho project are:
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Multi-Million Gold-Silver OuncePotential
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24 km 2 area to explore
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6 km of prospective trend definedthus far
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18 km from producing San FransicoMine (3 Moz Au)
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Road accessible (2.5 hrs fromHermosillo)
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National Rail line 3km to theeast
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Fully permitted:
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2 km trenching
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15 km drilling
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A video on El Picacho can be found here:
About the Pilar Property
The Pilar Gold-Silver property is interpreted as astructurally controlled low-sulphidation epithermal project hosted inandesite rocks. Three zones of mineralizationhave been identified in the north-west part of the property fromhistoric surface work and drilling and are referred to as the MainZone, North Hill and 4-Trench. Structural features and zones ofmineralization within the structures follow an overall NW-SE trend ofmineralization. Over 22,700 m of drilling have been completed to date.Significant results are highlighted below:
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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 @6.0g/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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17,700m of Historic Core RCdrilling. Highlights include:
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61.0m @ 0.8 g/t Au
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16.5m @ 53.5g/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 the junior mining exploration sector, byidentifying and negotiating interest in opportunities where managementfeels they can build upon previous success. Tocvan has approximately32 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: 403-668-7855
Email: bsutherland @tocvan.c a
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