(TheNewswire)
Calgary, Alberta – TheNewswire - August 30, 2022 - Tocvan Ventures Corp. (the “Company”)(CSE:TOC ) ; ( OTC:TCVNF ) ; ( FSE:TV3), is pleased to announce thelatest drill results from its Pilar Au-Ag Project in Sonora, Mexico. Seven drill holes were completed, totalling1,382-meters. Results for the final four drill holes are highlightedin this release. All four drill holes were drilled in new areas andintersected alteration and structures known to host gold-silvermineralization at Pilar. Hole JES-22-72, 125-meters southeast of drillhole JES-22-63 (13.7m of 0.6 g/t Au and 13 g/t Ag and 9.2m of 0.6 g/tAu) returned 22.9-meters of0.3 g/t Au and 19 g/t Ag, including 7.6-meters of 0.8 g/t Au and 51g/t Ag (Figure 1) Three drill holes intersectedlow-grade gold and silver values indicating close proximity tosignificant mineralization. Hole JES-22-70 returned 12.2-meters of 0.3g/t Au, including 3.1-metersof 0.8 g/t Au and 3.1-meters of 0.5 g/t Au . Hole JES-22-69 intersected 1.5-meters of 0.7 g/t Au at the end of hole, leaving it open at depth for targeting.The Company is extremely encouraged by these reconaissaince resultsand planning is underway for the next stage of drilling atPilar.
Figure 1. Plan Map highlighting theresults from the latest stage of drilling at Pilar.
Drill Highlights
JES-22-72
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22.9m of 0.3 g/t Au and 19 g/t Ag(0.5 g/t AuEq ), from 27.5m
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Incl., 10.7m of 0.6 g/t Au and 40 g/t Ag (1.0 g/t AuEq)
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Incl., 7.6m of 0.8 g/t Au and 51 g/t Ag (1.3 g/t AuEq)
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Incl., 3.1m of 1.6 g/t Au and 109 g/t Ag (2.8 g/t AuEq)
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*Note: AuEq calculated based onmetal price assumptions of $1,700/oz gold and $18.00/oz silver
JES-22-70
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12.2m of 0.3 g/t Au, fromsurface
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Incl., 3.1m of 0.8 g/t Au and 5 g/tAg
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And 3.1m of 0.5 g/t Au
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JES-22-69
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1.5m of 0.7 g/t Au at end of hole,open at depth
“With each progressive stage ofreconnaissance drilling along previously untested trends we areuncovering excellent indications that mineralization continues to thesoutheast and in parallel trends to our Main Zone”, commented CEO, Brodie Sutherland . “All seven drill holes intersectedalteration, quartz-veining and fault structures know to hostsignificant mineralization at Pilar. All three trends tested duringthis stage of drilling have shown indications of continuedmineralization and warrant follow-up drilling as we believe a muchlarger system is yet to be defined at Pilar.”
Discussion of Results
As part of the ongoing Phase III drill program, a totalof seven reverse circulation (“RC”) drill holes have beencompleted, totalling 1,382-meters. Drilling focused on the 4-TExpansion and Extension targets and a new trend discovered during thelast stage of drilling (Figure 1 and Table 1).
JES-22-69
This drill hole was targeting the 4-T Extension, wheresurface sampling of artisanal workings returned 6.6 g/t Au and 433 g/t Ag . Four quartz-sericite veins with pyrite were intersected at10.7 to 30.5-meters, 82.4 to 86.9-meters, 157.1 to 158.6-meters and173.9 to 176.9-meters. Low-grade gold mineralization was intersectedfrom surface to 16.8-meters depth. A 1.5-meter interval of 0.7 g/tAu was recorded at the end of the hole withcoincident elevated arsenic values (>1500 ppm) which suggestmineralization is open at depth. Follow-up targeting up and down-dipof this drill hole is warranted to test continuation ofmineralization.
JES-22-70
This drill hole was targeting the 4-T Trend, 80-meterssoutheast of where a recent surface trench (T-21-2) returned 19.5-meters of 0.6 g/tAu . Three quartz-sericite veins with pyrite wereintersected at 58.0 to 63.0-meters, 132.7 to 143.8-meters, and 163.2to 164.7-meters. From surface, JES-22-70 returned 12.2-meters of 0.3 g/t Au including,3.1-meters of 0.8 g/t Au and 3.1-meters of 0.5 g/t Au . Low-grade gold and zinc were recorded further down holefrom 77.8-meters (3.1-meters of 0.4 g/t Au and 1.82% Zn). The 4-TTrend remains larger untested down-dip at depth, the indications ofmineralization and structure recorded warrant further follow-up of thetrend for broad, higher-grade intervals.
JES-22-71
This drill hole was targeting the Discovery Trend,115-meters southeast of JES-22-72 (see below). Quartz-sericite veinswith pyrite were intersected from surface to 36.0-meters, 90.0 to95.0-meters, 108.7 to 112.9-meters and 154.0 to 158.6-meters.Low-grade silver and zinc were recoded from surface to 6.1-meters (6g/t Ag and 0.1% Zn). Although no significant mineralization wasrecorded the structure and alteration intersected indicate potentialfor significant mineralization continues along this trend.
JES-22-72
This drill hole was targeting the newly identifiedDiscovery Trend, 125-meters southeast of drill hole JES-22-63 which returned, 54.9-meters of 0.3 g/t Au and 5 g/tAg including, 13.7-meters of 0.6 g/t Au and 13 g/tAg and 9.2-meters of 0.6 g/t Au ) . Drill hole JES-22-72 returned 22.9-meters of 0.3 g/t Au and 19 g/t Ag or0.5 g/t AuEq including, 7.6-meters of 0.8 g/t Au and 51 g/t Ag or1.3 g/t AuEq . Zinc values are elevated acrossthe upper half of the drill hole with high concentrations( 1.97% Zn over7.6-meters ) associated with high Au-Ag values. Quartz-sericite veins with pyrite were intersected at 9.2 to15.0-meters, 91.5 to 100.7-meters and 120.5 to 129.7-meters. Thehighest-grade mineralization is hosted with in a silicified andesitewith quartz veinlets and moderate iron-oxide alteration. BothJES-22-63 and JES-22-72 remain untested down-dip, mineralization andstructure seen in JES-22-71 indicates the system has room to expandfurther to the southeast. The discovery trend remains open to thenorthwest.
Table 1. Summary of Results fromlatest Stage of Drilling at Pilar.
Hole ID | From (m) | To (m) | Width (m)* | Au (g/t) | Ag (g/t) |
JES-22-66 | 30.50 | 47.28 | 16.78 | 0.11 | 17.6 |
including | 30.50 | 36.60 | 6.10 | 0.25 | 47.4 |
including | 35.08 | 36.60 | 1.53 | 0.55 | 185.0 |
JES-22-67 | 0.00 | 138.78 | 138.78 | 0.10 | 0.3 |
including | 0.00 | 30.50 | 30.50 | 0.41 | 0.3 |
including | 0.00 | 1.53 | 1.53 | 7.61 | 0.8 |
JES-22-68 | No Significant Values | ||||
JES-22-69 | 0.00 | 16.78 | 16.78 | 0.15 | 1.1 |
including | 0.00 | 7.63 | 7.63 | 0.19 | 1.0 |
and | 82.35 | 86.93 | 4.58 | 0.12 | 6.8 |
and | 128.10 | 134.20 | 6.10 | 0.13 | 5.8 |
including | 128.10 | 129.63 | 1.53 | 0.33 | 17.2 |
and | 187.58 | 189.10 | 1.53 | 0.70 | 2.2 |
JES-22-70 | 0.00 | 18.30 | 18.30 | 0.24 | 1.4 |
including | 0.00 | 12.20 | 12.20 | 0.34 | 1.8 |
including | 0.00 | 3.05 | 3.05 | 0.78 | 4.5 |
and | 9.15 | 12.20 | 3.05 | 0.49 | 1.8 |
and | 77.78 | 85.40 | 7.63 | 0.18 | 0.9 |
including | 77.78 | 80.83 | 3.05 | 0.39 | 1.9 |
and | 109.80 | 111.33 | 1.53 | 0.29 | 0.3 |
JES-22-71 | 0.00 | 6.10 | 6.10 | 0.07 | 6.2 |
JES-22-72 | 0.00 | 50.33 | 50.33 | 0.14 | 9.6 |
including | 0.00 | 38.13 | 38.13 | 0.17 | 12.3 |
or | 25.93 | 50.33 | 24.40 | 0.27 | 18.1 |
including | 27.45 | 38.13 | 10.68 | 0.59 | 40.4 |
including | 30.50 | 38.13 | 7.63 | 0.78 | 51.0 |
including | 35.08 | 38.13 | 3.05 | 1.64 | 109.0 |
including | 36.60 | 38.13 | 1.53 | 2.39 | 165.0 |
and | 106.75 | 128.10 | 21.35 | 0.13 | 0.9 |
including | 106.75 | 109.80 | 3.05 | 0.49 | 0.3 |
and | 152.50 | 154.03 | 1.53 | 0.38 | 16.5 |
Table 2. Collar Data for Latest stageof Drilling at Pilar.
Hole_ID | Easting | Northing | Elevation (m) | Depth | Azimuth | Dip |
JES-22-66 | 617873 | 3144802 | 409 | 180.0 | 230 | -50 |
JES-22-67 | 617976 | 3144759 | 420 | 213.5 | 230 | -55 |
JES-22-68 | 618104 | 3144528 | 460 | 213.5 | 225 | -55 |
JES-22-69 | 618044 | 3144610 | 448 | 189.1 | 225 | -55 |
JES-22-70 | 617833 | 3144623 | 437 | 201.3 | 230 | -55 |
JES-22-71 | 617840 | 3144377 | 445 | 207.4 | 230 | -55 |
JES-22-72 | 617783 | 3144472 | 447 | 176.9 | 230 | -50 |
About the Pilar Property
The Pilar Gold-Silver property is interpreted as astructurally controlled low-sulphidation epithermal system 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-T. Structural features and zones ofmineralization within the structures follow an overall NW-SE trend ofmineralization. Over 22,000 m of drilling has been completed to date.Significant results are highlighted below:
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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, including 10.2m@ 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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15,000 of Historic Core RC drilling.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 the junior mining exploration sector, byidentifying and negotiating interest in opportunities where managementfeels they can build upon previous success. Tocvan has approximately36 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.
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.
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 (includingnegative variations) of such words and phrases, or state that certainactions, events or results “may”, “could”, “would”,“might” or “will” be taken, occur or be 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
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