(TheNewswire)
Calgary, Alberta – TheNewswire - March 30, 2022 Tocvan Ventures Corp. (the “Company”) (CSE:TOC ) ; ( OTC:TCVNF ) ; ( FSE:TV3), is pleased to announce initial drill results from its PilarAu-Ag Project in Sonora, Mexico. Results for the first three drillholes are provided in this release, totaling 513.3 meters of drillingwithin the Main Zone (see Figure 1). A total of 1,540 meters of PhaseIII drilling has been completed in nine drill holes providing keyinformation across the Main Zone and 4-T Trend. Drill hole JES-22-58 intersected 21.7-meters of 0.94 g/t Au , including 4.0 meters of 4.3 g/t Au and 7g/t Ag . JES-22-58 was a diamond drill hole toconfirm host rock and structure from the local Reverse Circulation(“RC”) drill hole JES-20-36 which intersected 24.4 meters of 2.5g/t Au and 73 g/t Ag, including a high-grade interval of 1.5 meters of33.4 g/t Au and 1,090 g/t Ag.
Drill Highlights
JES-22-58 (Core)
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33.3m at 0.63 g/t Au and 2 g/t Ag,from 85.6 meters
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Including 21.7mat 0.94 g/t Au
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Including 4.0mat 4.3 g/t Au and 7 g/t Ag
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JES-21-57 (RC)
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6.1m at 0.51 g/t Au and 8 g/t Ag,from 6.1-meters downhole depth
JES-22-60 (Core)
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5.5m at 0.64 g/t Au and 10 g/t Ag,from 5.4-meters downhole depth
“Core drilling continues todemonstrate the continuity and strength of oxide gold-silvermineralization at Pilar”, commented BrodieSutherland, CEO . “ Intersectinganother broad low-grade zone with a high-grade core is extremelyencouraging as we look to advance our understanding of the Main Zoneand move the project towards the next stage of development. With moreresults pending we look forward to outlining the next steps forexpansion at Pilar.”
Discussion of SignificantResults
As part of the Phase III program, nine drill holes havebeen completed totalling over 1,540 meters (Figure 1). Drilling lookedto expand the Main Zone through 25, 50 and 100-meter step-outs to thesoutheast in a gap zone that has seen little drilling focused on themain trend between hole JES-20-32 (94.6m at 1.6 g/t Au) and holeJES-21-50 (39.7m at 0.96 g/t Au). Drilling also covered the 4-T Trendtesting below trench T-21-3, which returned 19.5 meters at 0.61 g/tAu.
Confirmation of host rock and structure through theMain Zone was completed with core drilling, targeting key areas wherepast RC drilling has intersected significant gold—silvermineralization. Drill hole JES-22-58 was successful in intersecting asignificant zone of oxide gold with broad mineralization in asilicified brecciated andesite host (33.3 meters of 0.63 g/t Au,including 21.7 meters of 0.94 g/t Au). The intersection included ahigh-grade center of intensely silicified breccia vein grading 4.3 g/tAu and 7 g/t Ag over 4.0 meters. This breccia vein correlates with thehigh-grade mineralization seen in RC hole JES-20-36, which returned1.5 meters at 33.4 g/t Au and 1,090 g/t Ag.
Figure 1. Map of Phase III DrillHoles.
Table 1. Summary of Phase III DrillResults.
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 24,200 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.
Quality Assurance / QualityControl
RC chips and core samples were shipped for samplepreparation to ALS Limited in Hermosillo, Sonora, Mexico and foranalysis at the ALS laboratory in North Vancouver. The ALS Hermosilloand North Vancouver facilities are ISO 9001 and ISO/IEC 17025certified. Gold was analyzed using 50-gram nominal weight fire assaywith atomic absorption spectroscopy finish. Over limits for gold(>10 g/t), were analyzed using fire assay with a gravimetricfinish. Silver and other elements were analyzed using a four-aciddigestion with an ICP finish. Over limit analyses for silver (>100g/t) were re-assayed using an ore-grade four-acid digestion withICP-AES finish. Control samples comprising certified reference samplesand blank samples were systematically inserted into the sample streamand analyzed as part of the Company’s robust quality assurance /quality control protocol.
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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