(TheNewswire)
Calgary, Alberta – TheNewswire - September 13, 2022 - Tocvan Ventures Corp. (the “Company”) (CSE:TOC ) ; ( OTC:TCVNF ) ; ( FSE:TV3), is pleased to announce the completion of data compilationand surface evaluation of the San Ramon Prospect within the El PicachoGold-Silver Project in Sonora, Mexico. Historic underground samplingcompeted by Timmins Gold in 2008, returned 23 one to two-meter rock chip samplesranging from 0.3 g/t Au to 22 g/t Au with Ag values up to 26g/t (see Figure 1). Later sampling in 2016 byMillrock confirmed the high-grade results with five rock chip samplesreturning between 2.0 g/t Auto 18 g/t Au . The underground drive is thoughtto be completed between the 1950’s and 1970’s. A secondunderground working located 250-meters to the north returned nine rock chip samples rangingbetween 0.5 g/t Au and 8.2 g/t Au with Ag values up to 32g/t (see Tables 1 & 2 for results). At SanRamon, high-grade gold values are recorded at surface over a 500-metertrend along a regional thrust fault contact. The Priority drill targetarea includes this trend plus the down-dip extension along the faultat depth to the west over 500-meters. The regional thrust fault isthought to be a major conduit for mineralization and both the olderPrecambrian gneiss and the younger Jurassic sediments below the faultshow indications of strong alteration and high-grade mineralization.
Figure 1. Planview of the San Ramon Prospect, highlighting high-grademineralization
“The data clearly shows that SanRamon is a high-priority target showcasing mineralization from surfaceto a minimum depth of 60-meters, over a 500-meter trend and open inall directions.”, commented CEO, BrodieSutherland . “Past work hasde-risked this target as we know mineralization extends to depth fromhistoric drill logs. The high-grade gold and silver seen at surfaceand recorded from the underground workings confirms a robust system ispresent. Follow-up grid drilling of the area will be a priority for ElPicacho’s development.”
Figure 2. Planview and X-Section of the San Ramon Underground Drive. High-grademineralization is open at depth and along strike.
Discussion
The San Ramon Prospect has significant historicworkings that include two underground workings thought to be completedbetween the 1950’s and 1970’s. Sampling of the underground by pastoperators has returned consistent high-grade gold and silvermineralization within silicified quartz-carbonate veins hosted withinshear zones parallel to a large regional fault that dips shallowly tothe west. Mineralization does not appear to be isolated to thePrecambrian gneiss host rocks in the hangingwall of the fault but alsopresent in the younger Jurassic sediments (sandstones to dolostones)in the footwall. This is most evident 1.4 kilometers to the south atthe Murcielago Prospect where mineralization is hosted within abrecciated dolostone.
The target area currently consists of a 500-meter by500-meter area focused around historic workings trending south alongthe contact of a regional fault. Reconnaissance drilling completed byTimmins Gold in 2012 and 2013 identified multiple mineralized horizons(low-angle shear zones) hosting gold and silver mineralization down toa depth of 60-meters. These shear zones align with high-grademineralization outcropping at surface and sampled in the undergroundworkings. Although follow-up grid drilling was planned, due tobudgetary constraints by Timmins Gold and priorities towards near-mineexploration, no follow-up work was completed at the San RamonProspect. The Company believes the past drilling has proven the modelfor a continuation of mineralization at depth and that follow-updrilling is needed to intersect the higher-grades recorded in theunderground workings. The San Francisco deposit is hosted within thesame rock type seen at San Ramon and is related to similar regionalfaults. With the rain season coming to an end in Sonora, planning isunderway to initiate drilling at San Ramon as soon as possible.
Prospect Highlights
Two Underground HistoricWorkings
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90-meter underground drive, chipsamples returned from 0.3 to22 g/t Au over length ofdrive. Averaging 5.0 g/t Au and 8 g/t Ag.
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See Figure 2 and Table 1
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Historic shaft and adit, chip samplesreturned from 0.5 to 8 g/t Au over 20-meter by 30-meterarea. Averaging 3.6 g/t Au and 10 g/t Ag. SeeFigure 1 and Table 2
Table 2. Summaryof Rock Chip Samples from Underground Working at San RamonProspect
Table 1. Summaryof Rock Chip Samples from 90-meter underground drive at San RamonProspect
Click Image To View Full Size
Coordinate System:WGS84, Zone 12. Historic samples were taken over 1 to 2-meterchips.
Three Historic Reconnaissance DrillHoles (Timmins Gold, 2012) were completed. All three IntersectedMineralization. No follow-up work was completed due to a stop inregional exploration by Timmins Gold at the time.
RCP-09
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59.3m of 0.2 g/t Au, from surface
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Incl., 12.2m of 0.6 g/t Au, from 21.3m
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Incl. 7.6m of 0.9 g/t Au
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Incl., 4.6m of 1.4 g/t Au
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And, 3.0m of 0.7 g/t Au, from 56.2m
PD-01
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39.0m of 0.2 g/t Au, from 15.0m
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Incl., 7.5m of 0.7 g/t Au
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Incl., 4.5m of 1.2 g/t Au
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PD-02
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15.0m of 0.1 g/t Au, from 22.5m
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Incl., 3.0m of 0.6 g/t Au
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Incl., 1.5m of 1.1 g/t Au
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Figure 3.X-Section of the San Ramon Prospect and Drill hole RCP-09. The drillhole was lost at 88.4-meters, failing to test the lower sediment hosttarget horizon.
Figure 4. Schematic X-Section of theEl Picacho Exploration Model showing potential across several untestedtrends. The San Ramon target outcrops at surface and been intersectedat a vertical depth of 60-meters. The SanFrancisco pit outline is used for reference only. Drill traces shownare conceptual based on the exploration model.
Figure 5. Overview map of the ElPicacho Gold-Silver Project
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.
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.
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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