(TheNewswire)
Calgary, A B - TheNewswire - March 14, 2023 - Tocvan Ventures Corp. (the “ Company ”) (CSE:TOC ) ( OTC:TCVNF ) ( FSE:TV3) , is pleased to provide a progressupdate on its first bulk sample at the Pilar Gold-Silver Project inSonora, Mexico. Material preparation and heap leach pad preparationare ongoing. Trenching and sample extraction at Pilar are ongoing. Atthe processing site, crusher and conveyor belt circuits have beenbrought online and are ready for testing. Ground conditioning iscomplete and ready for liner installation followed by gravel bed anddrainage system setup. Laboratorio Technologico de Metalurgia (LTM)has been selected to oversee and quality check the progress of thebulk sample. LTM is an ISO Certified Lab based in Hermosillo withinternationally trained and certified technical experts inmetallurgical analysis. Concurrently with the bulk sample, a PreciousMetal Diagnostic Leach study will be completed by LTM to assist in theunderstanding of gold characteristics and leach kinetics to optimizefuture process facilities. Five (5) – 10-kilogram samples collectedfrom surface and drill core for the Precious Metal Diagnostic Leachstudy. Scope of work will include: 1) Head Grade Analysis; 2) PreciousMetal Characterization (Results for each category to be provided: FreeGold; Exposed but Attached; Associated with Carbonates; SulphideAssociated; and Encapsulated in Siliceous Minerals).
Highlights
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Samples Selected for Precious MetalDiagnostic Leach
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Bulk Sampling and Metallurgical PlantConditioning Ongoing
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Local ISO Certified Lab, LTM selectedfor Analysis and Bulk Sample Quality Control
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Permit Confirmed for an AdditionalTwo-years of Drilling and Trenching at Pilar
In addition, the Company is also pleased to announce ithas completed a renewed permit for Pilar. The permit is valid fortwo-years, allowing for nine trench areas and 83 drill pads at Pilar.The permit will provide access for planned infill and step-outdrilling along the 1.2-kilometer trend that remains largely untestedat Pilar.
"This is a very exciting timefor us as we get ready for the first bulk sample of surface materialfrom Pilar” stated Brodie Sutherland,CEO . “This will set thestage for moving Pilar towards development, showcasing the expectedhead grade and recovery blended across our key oxide zones. Having alocal certified laboratory to assist in the metallurgical analysis andto quality check the results is just another added benefit ofoperating in a top mining jurisdiction. Gold characterization studieswill guide us on improving recovery and understanding the mineralizedsystem at Pilar. With the addition of being able to drill Pilar foranother two-years, this completely opens the potential for definingmore mineralization on a very prospective trend. We look forward onupdating shareholders as the operation progresses.”
About the Bulk Sample
Up to 1,000 tonnes of oxide-gold material will beextracted from select areas exposed at surface across the projectarea, focusing on the Main Zone and 4-T Trends where preliminarycolumn leach studies have returned promising head-grade and recoveryresults. Bulk Sample material will be extracted and prepared forprocessing by heap-leach method at a private mining operation lessthan 25 kilometers to the west of Pilar. Information from the samplewill aim to provide a more detailed account of expected head-grade andrecovery percentage of gold along with providing key information tooptimize future production facilities. The information provided fromthe sample will be used for planning in coordination for permitting offull-scale mine and process facilities on-site at Pilar.
Photos 1 & 2.Above, Ground conditioning for heap leach pad. Below, Absorption Tanksfor treating solution.
Click Image To View Full Size
Photos 3 & 4.Above, Stockpiling at Pilar – Main Zone. Below, Trenching at Pilar– Main Zone.
Photo 5.Excavation Prep at Pilar – Main Zone. Recent Channel Sampling WillGuide Bulk Sampling
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 of mineralization have beenidentified in the north-west part of the property from historicsurface work and drilling and are referred to as the Main Zone, NorthHill and 4-T. The Main Zone and 4-T trends are open to the southeastand new parallel zones have been recently discovered. Structuralfeatures and zones of mineralization within the structures follow anoverall NW-SE trend of mineralization. Mineralization extends along a1.2-km trend, only half of that trend has been drill tested so far. Todate, over 23,000 m of drilling has been 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 23g/t Ag
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108.9m @ 0.8 g/t Au, including 9.4m @ 7.6 g/t Au and 5g/t Ag
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63.4m @ 0.6 g/t Au and 11 g/t Ag, including 29.9m @ 0.9g/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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39.7m @ 1.0 g/t Au, including 1.5m @ 14.6 g/t Au
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47.7m @ 0.7 g/t Au including 3m @ 5.6 g/t Au and 22 g/tAg
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29m @ 0.7 g/t Au
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35.1m @ 0.7 g/t Au
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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 38g/t Ag;
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41.2m @ 1.1 g/t Au, including 3.1m @ 6.0 g/t Au and 12g/t Ag ;
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24.4m @ 2.5 g/t Au and 73 g/t Ag, including 1.5m @ 33.4g/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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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.
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 approximately38 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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