(TheNewswire)
Calgary, Alberta – TheNewswire - June 22, 2022 Tocvan Ventures Corp. (the “Company”) (CSE:TOC ) ; ( OTC:TCVNF ) ; ( FSE:TV3), is pleased to announce drilling has recommenced at its PilarAu-Ag Project in Sonora, Mexico. As a continuation of Phase III,drilling will focus on priority exploration targets across theproperty. Targeting parallel trends and trend extensions will remain afocus as the Company looks to rapidly define the extent ofmineralization at Pilar. Recent reconnaissance drilling in a 200-metergap between the Main Zone and 4-T Trend was successful in defining anew parallel trend (JES-22-63 returned 54.9-meters at 0.3 g/t Au and 5g/t Ag from 6.1-meters depth). Another 200-meters to the east, surfaceexploration returned chip samples of 6.6 g/t Au and 433 g/t Agdefining an untested extension of the 4-T Trend, both of these targetswill be tested during this stage of drilling.
“We are excited for this nextstage of drilling at Pilar, as we feel the potential to expand theknown areas of mineralization is very significant,” commented Brodie Sutherland, CEO. “ All of these targets have compellingsurface geochemistry that warrant further evaluation. Informationcollected here will be instrumental to the next steps of developmentas we look to utilize substantial funding to fully unlock thepotential of Pilar.”
Figure 1. Map of Phase III DrillHoles with Next Stage of Drilling (Red).
Next Stage Drill Targets
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1) Follow-Up on NEW Discovery Trend
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JES-22-63 (RC)
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54.9m at 0.3 g/t Au and 5 g/t Ag,from 6.1m
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Including 13.7mat 0.6 g/t Au and 13 g/t Ag, from 6.1m
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Including 4.6m at 1.6 g/t Au and 29g/t Ag, from 6.1m
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And 9.2m at 0.6g/t Au and 3 g/t Ag, from 42.7m
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Soil Sample 170-meter southeast ontrend returned 340 ppb Au and 19 ppm Ag
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2) 4-T Extension
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Surface Chip sampling up to 6.6 g/tAu and 433 g/t Ag in silicified fault (See Plate 1.)
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Soil Sample 100-meter southeast ontrend returned 1,090 ppb Au and 127 ppm Ag
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3) 4-T Expansion
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Untested, elevated surface samplingover 300-meter trend
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Plate 1. Photo of rock chip sample7591, which returned 6.6 g/t Au and 433 g/t Ag as part of the 4-TExtension target.
Near-Term Catalysts at Pilar
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Ongoing Exploration and ExpansionDrilling
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Ongoing MetallurgicalStudies
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Advancing Towards:
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Maiden Resource Estimate
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Bulk Test Mine Determination
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Update on MetallurgicalStudies
Metallurgical analysis of select trench samples arestill underway, the Company expects reports to be available soon. TheCompany’s expectation is to have Pilar match other regional analogsthat show a range of gold recovery between 67.6% (La Colorada,Argonaut Gold. 2022 Technical Report) and 75% (Santana, Minera Alamos.April 7, 2022 News Release). Continuous metallurgical work will berequired to understand best methods to recover gold and silver acrossdifferent domains on the project.
Exploration Update on ElPicacho
Over the past two months field crews have beenevaluating priority target areas at the El Picacho Au-Ag project. Atotal of 180 samples have been collected to date and are pendingresults. A preliminary trench program assessing the San Ramon andJabali target areas is being planned for this summer.
Near-Term Catalysts at ElPicacho
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Ongoing Surface Exploration andMapping
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Advancing Towards:
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Trench Program (San Ramon, Jabali,Cornea targets)
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Maiden Drill Program (San Ramontarget)
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Plate 2. Photos from recent surfacesampling at El Picacho, results are pending.
Click Image To View Full Size
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 20,700 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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Historic Core RC drilling.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 approximately33 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: 1 888 772 2452
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