Calgary, Alberta - TheNewswire – June 15, 2021. Tocvan Ventures Corp. (CSE:TOC) (CNSX:TOC.CN) (“Tocvan” or the “Corporation”) is pleased to announce results for the next four drill holes from its Phase II drill program (the “Program”) at the Pilar Gold-Silver Project in Sonora, Mexico. A Phase II drill program is currently in progress with 3,500 meters of reverse circulation (RC) drilling in twenty (20) drill holes. Results for four drill holes are included in this release, highlighted by drill hole JES-21-43 which returned 35.1 meters at 0.66 g/t Au and 6 g/t Ag (0.72 g/t AuEq). Thirteen (13) drill holes are pending assay results.
Drill Result Highlights
JES-21-43 (Figure 1)
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- 35.1 meters at 0.66 g/t Au and 6 g/t Ag (0.72 g/t AuEq) from 97.6 to 132.7 meters
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- Including 13.7 meters at 1.7 g/t Au from 119 to 132.7 meters
- Including 3.1 meters at 6.8 g/t Au and 7 g/t Ag from 119 to 122 meters
- Also Including an upper elevated Ag zone, 7.6 meters at 17 g/t Ag from 97.6 to 105.2 meters
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“JES-21-43 is a significant step-out to our Main Zone, 100-meters east of our Phase I drill hole JES-20-32”, commented VP Exploration, Brodie Sutherland. “This not only expands the potential width of our Main Zone but also shows a continuation of mineralization down dip towards the east. Pending assay results for the remaining drill holes includes a series of holes stepped further east to test the 4-Trench Extension and the continuation of mineralization at depth.”
Results Discussion
JES-21-40 – The hole was planned to test the Main Zone at depth and to the east. Drilling intersected a broad low grade zone from surface of 58m of 0.19 g/t Au. (see Table 1). Results from drill holes JES-20-33 (41.2m at 1.14 g/t Au) and JES-13-15 (34.5m at 1.27 g/t Au) through the same area of the Main Zone intersected higher grade, but were drilled from the opposite direction to JES-21-40, suggesting drilling from the east to the west through the zone is the optimal angle for intersecting mineralized structure.
JES-21-41 – The hole was planned to test 50m down dip of drill hole JES-20-32, which returned 94.6m at 1.6 g/t Au. Several zones of anomalous gold were intersected including, 3m of 0.54 g/t AuEq, 4.6m of 0.43 g/t AuEq, 1.5m of 0.54 g/t AuEq and near the bottom of the hole from 199.8 to 212m, 12.2m of 0.28 g/t AuEq. The results from JES-21-43 suggest mineralization can widen with depth as the system dips to the east, stepping out to the east of this area remains a strong target for drill testing.
JES-21-42 – The hole was planned to test quartz veining and alteration recorded at surface along the 4-Trench Extension in a new corridor with little previous drilling. Anomalous gold was intersected, highlighted by 1.5m at 0.46 g/t Au and 5 g/t Ag.
JES-21-43 – The hole was planned to test the eastern extent of the Main Zone which correlates with a resistivity anomaly from a CSAMT survey. An oxide zone with quartz veinlets was recorded from 41m depth to 93m followed by several quartz veins in oxidized andesite from 93m to 130m. 35.1m at 0.66 g/t Au and 6 g/t Ag was drilled from 97.6m to 132.7m. The interval is significant as it is spatially 100m to the east of drill hole JES-20-32 and historic drill hole JES-18-19, both which returned grade above 0.75 g/t Au over wide intervals (see Figure 1).
Figure 1. Cross-Section of Drill Hole JES-21-43
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Table 1. Summary of Drill Results
|
Hole ID |
From (m) |
To (m) |
Width* (m) |
Au (g/t) |
Ag (g/t) |
AuEq (g/t) |
|
JES-21-40 |
1.52 |
59.48 |
57.96 |
0.19 |
1 |
0.20 |
|
JES-21-41 |
44.23 |
47.27 |
3.04 |
0.36 |
17 |
0.54 |
|
and |
65.58 |
70.15 |
4.57 |
0.39 |
4 |
0.43 |
|
and |
85.40 |
86.92 |
1.52 |
0.47 |
7 |
0.54 |
|
and |
199.78 |
211.97 |
12.19 |
0.19 |
4 |
0.24 |
|
JES-21-42 |
12.20 |
13.72 |
1.52 |
0.46 |
5 |
0.51 |
|
JES-21-43 |
97.60 |
132.68 |
35.08 |
0.66 |
6 |
0.72 |
|
including |
118.95 |
132.68 |
13.73 |
1.65 |
3 |
1.68 |
|
including |
118.95 |
122.00 |
3.05 |
6.79 |
7 |
6.87 |
|
also |
97.60 |
105.22 |
7.62 |
0.01 |
16 |
0.19 |
*Insufficient drilling has been undertaken to determine true widths. All widths reported are core length. Gold equivalent (“AuEq”) is calculated using metal prices of $1,700/oz gold and $18/oz silver.
About the Pilar Property
The Pilar Gold-Silver property is interpreted as a structurally controlled low-sulphidation epithermal project hosted in andesite rocks. Three zones of mineralization have been identified in the north-west part of the property from historic surface work and drilling and are referred to as the Main Zone, North Hill and 4-Trench. Structural features and zones of mineralization within the structures follow an overall NW-SE trend of mineralization. Over 19,200 m of drilling have been completed to date. Significant results are highlighted below:
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2020 Phase I RC Drilling Highlights include (all lengths are drilled thicknesses):
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o94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;
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o41.2m @ 1.1 g/t Au, including 3.1m @ 6.0g/t Au and 12 g/t Ag ;
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o24.4m @ 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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17,700m of Historic Core & RC drilling. Highlights include:
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o61.0m @ 0.8 g/t Au
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o16.5m @ 53.5g/t Au and 53 g/t Ag
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o13.0m @ 9.6 g/t Au
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o9.0m @ 10.2 g/t Au and 46 g/t Ag
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Soil and Rock sampling results from undrilled areas indicate mineralization extends towards the southeast from the Main Zone and 4-Trench Zone. Recent Surface exploration has defined three new target areas: Triple Vein Zone, SE Vein Zone and 4 Trench Extension.
Brodie A. Sutherland, P.Geo., VP Exploration for Tocvan Ventures Corp. and a qualified person ("QP") as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.
Quality Assurance / Quality Control
RC chips were shipped for sample preparation to ALS Limited in Hermosillo, Sonora, Mexico and for analysis at the ALS laboratory in North Vancouver. The ALS Hermosillo and North Vancouver facilities are ISO 9001 and ISO/IEC 17025 certified. Gold was analyzed using 50-gram nominal weight fire assay with atomic absorption spectroscopy finish. Over limits for gold (>10 g/t), were analyzed using fire assay with a gravimetric finish. Silver and other elements were analyzed using a four-acid digestion with an ICP finish. Over limit analyses for silver (>100 g/t) were re-assayed using an ore-grade four-acid digestion with ICP-AES finish. Control samples comprising certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the Company’s robust quality assurance / quality control protocol.
About Tocvan Ventures Corp.
Tocvan is a well-structured exploration development company. Tocvan was created in order to take advantage of the prolonged downturn the junior mining exploration sector, by identifying and negotiating interest in opportunities where management feels they can build upon previous success. Tocvan currently has approximately 28 million shares outstanding and is earning into two exciting opportunities. The Pilar Gold-Silver project in Sonora, Mexico and the Rogers Creek Copper project in southern British Columbia, management feels both projects represent tremendous opportunity to create shareholder value.
FOR FURTHER INFORMATION, PLEASE CONTACT:
TOCVAN VENTURES CORP.
Derek A. Wood, President and CEO
Suite 1150 Iveagh House,
707 – 7th Avenue SW
Calgary, Alberta T2P 3H6
Telephone: (403) 668 7855 EXT 101
Email: dwood@tocvan.ca
Cautionary Statement Regarding Forward Looking Statements
This news release contains “forward-looking information” which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Forward-looking information in this news release includes statements regarding the use of proceeds from the Offering. Such forward-looking information is often, but not always, identified by 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 and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.
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