(TheNewswire)
Calgary, Alberta – TheNewswire - January 24, 2023 Tocvan Ventures Corp. (the “Company”)(CSE:TOC ) ; ( OTC:TCVNF ) ; ( FSE:TV3), is pleased to announce it hasbegun preparation for an initial Bulk Sample at its Pilar Gold-SilverProject in Sonora, Mexico. Up to 1,000 tonnes of oxide-gold materialwill be extracted from select areas exposed at surface across theproject area, focusing on the Main Zone and 4-T Trends wherepreliminary column leach studies have returned promising head-gradeand recovery results ( seesummary below ). Bulk Sample material will beextracted and prepared in February for processing by heap-leach methodat a private mining operation less than 25 kilometers to the west ofPilar. Information from the sample will aim to provide a more detailedaccount of expected head-grade and recovery percentage of gold alongwith providing key information to optimize future productionfacilities. In coordination with the Bulk Sample, additionalmetallurgical sampling will be completed to identify goldcharacteristics to further improve gold extraction techniques. Theprocess will be managed by an independent qualified professionalspecializing in the metallurgy of oxide-gold deposits. Total durationof the processing and analysis of the bulk sample is expected to spanthree to four months depending on the rate of precious metals activelyrecovered through the heap-leach process. The information providedfrom the sample will be used for planning in coordination forpermitting of full-scale mine and process facilities on-site atPilar.
"We are excited for thisimportant next step at Pilar that will enhance our understanding ofmineralization and open the door to new opportunities,” stated Brodie Sutherland, CEO . “Information collected from the bulksample and metallurgical test work will give investors even moreconfidence in the potential of the project and show the possibilitiesto produce gold and silver from Pilar. In addition, it will provePilar is an attractive target for other producers of oxide-gold in theregion. All during a time where we are seeing a renewed interesttowards precious metals through strong gold and silver prices. Beyondthe bulk sample, there remains a tremendous opportunity to expand themineralized area at Pilar as a large part of the 1.2-kilometercorridor remains untested and open for exploration and expansion. Intandem, we are seeing great early results from our El Picacho projectwhere we recently completed a successful first round of drilling,confirming our model and discovering significant near-surfacemineralization stepped-out from historic workings. 2023 is shaping upto be another fantastic year for the company as we unlock thepotential of both of our projects.”
Pilar Metallurgy Highlights
2021 Bottle Roll Results SGS(Durango) – Main Zone RC Drill Hole Composites (from JES-20-32,94.6m at 1.6 g/t Au)
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Sample 494801 – 1.15 g/t Au HeadGrade, 91.6% Recovery of Au
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Sample 494804 – 0.63 g/t Au HeadGrade, 90.6% Recovery of Au
2022 Column Leach Study
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Four (4) Column Leach Samples from Surface Trenchesacross Main Zone and 4T Trend
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Head Grade Range: 0.4 g/t Au to 5.0 g/t Au*
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Gold Recovery Range: 88.9% to 96.9%*
*Important Note – Testing wascompleted by a local private producer and contractor based in Sonora,Mexico. The facility used to calculate head-grade and recovery is nota certified lab.
Pilar Project Overview:
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Over 23,000 metersdrilled to date
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Gold-Silver Mineralization defined along a 600-meter Trend and expanding over a1.2-kilometer corridor
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Drilling Highlighted by: 116.9-meters of 1.2 g/t Au , including 10.2-meters of 12 g/t Au and 23 g/t Ag
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Preliminary Gold Recovery from Bottle-Roll and ColumnLeach above 85%
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 ofmineralization have been identified in the north-west part of theproperty from historic surface work and drilling and are referred toas the Main Zone, North Hill and 4-T. The Main Zone and 4-T trends areopen to the southeast and new parallel zones have been recentlydiscovered. Structural features and zones of mineralization within thestructures follow an overall NW-SE trend of mineralization.Mineralization extends along a 1.2-km trend, only half of that trendhas been drill tested so far. To date, over 23,000 m of drilling hasbeen completed.
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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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15,000m of Historic Core RCdrilling. 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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Figure 1. Map ofSonora, Mexico with the location of Tocvan’s Projects relative toother major Sonora projects
About the El 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 of areashowing similarities in geology and structure as the San FranciscoMine. Five primary zones of mineralization have been identified acrossthe property totalling over six kilometers of prospective trends.Surface sampling and historic workings have identified high-grade goldand silver values. Recently the Company completed its first drillprogram at El Picacho, confirming its model and hitting significantgold mineralization In a step-out to historic workings. Drill holeSRA-22-010, intersected 44.2-metersof 0.6 g/t Au, including 12.2-meters of 2.0 g/t Au and 7 g/tAg . As exploration and drilling continues, Tocvan believes thisprovide an excellent opportunity for discovery of a muti-million ouncedistrict.
Figure 2. Overviewmap of the El Picacho Gold-Silver Project.
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 release includes statementsregarding the use of proceeds from the Offering. Such forward-lookinginformation is often, but not always, identified by the use of wordsand phrases such as “plans”, “expects”, “is expected”,“budget”, “scheduled”, “estimates”, “forecasts”,“intends”, “anticipates”, or “believes” or variations(including negative variations) of such words and phrases, or statethat certain actions, 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
Email: ir @tocvan.c a
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