Calgary, Alberta - TheNewswire - March 2, 2022 - Tocvan Ventures Corp. (the "Company") TOC TOC TCVNF (FSE:TV3), is pleased to provide an update from its Pilar Au-Ag Project in Sonora, Mexico. Phase III drilling is currently in progress, 1,200 meters of core drilling has been completed providing essential information across the Main Zone and 4-T Trend. Over 40% of these samples have been submitted to ALS (Hermosillo) for preparation and analysis. The remaining samples are expected to be submitted over the next two weeks with more drilling planned in the coming months. The company expects first results to be available later this month, including results from the previously announced (see February 15, 2022, announcement) intersection of silicified breccia host through the Main Zone, a core twin of RC hole JES-20-32 which returned 94.6 meters of 1.6 g/t Au, including 9.2 meters of 10.8 g/t Au and 38 g/t Ag. Five (5) metallurgical samples for column leach study have been submitted for analysis by SGS and a strategic partner. Results for metallurgy are expected to be available in Q2 2022. 2021 bottle roll studies returned over 90% recovery of gold after a 48-hour retention time.
Summary of Near-Term Catalysts
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Currently drilling Phase III drill program. First results pending.
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Bulk samples for advanced metallurgy currently at lab
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Moving towards maiden resource estimate and bulk test mine
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Exploration starting at brownfields Au-Ag project, Picacho 6 km of prospective trend, 18km from producing San Francisco Mine
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Spin-out of BC Copper asset into new Cu focused company
Marketing and Investor Awareness Campaigns
The Company has been actively growing its investor engagement through social media, YouTube and in person meetings. A series of videos with CEO, Brodie Sutherland will be released weekly to discuss the latest results and forward-looking plans.
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Annual General Meeting
The company's Annual General Meeting (AGM) will take place April 8th, 2022. Information regarding the meeting will be disseminated over the next few weeks. The AGM was delayed due to the COVID-19 global pandemic and resulting delays obtaining court approval of the spin-out transaction. The Company encourages all shareholders to participate in the meeting.
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 22,700 m of drilling have been completed to date. Significant results are highlighted below:
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2021 Phase II RC Drilling Highlights include (all lengths are drilled thicknesses):
39.7m @ 0.96 g/t Au, including 1.5m @ 14. g/t Au
47.7m @ 0.70 g/t Au including 3m @ 5.6 g/t Au and 22 g/t Ag
29m @ 0.71g/t Au
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2020 Phase I RC Drilling Highlights include (all lengths are drilled thicknesses
94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;
41.2m @ 1.1 g/t Au, including 3.1m @ 6.0g/t Au and 12 g/t Ag ;
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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17,700m of Historic Core RC drilling. Highlights include:
61.0m @ 0.8 g/t Au
16.5m @ 53.5g/t Au and 53 g/t Ag
13.0m @ 9.6 g/t Au
9.0m @ 10.2 g/t Au and 46 g/t Ag
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.
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 has approximately 32 million shares outstanding and is earning 100% into two exciting opportunities in Sonora, Mexico: the Pilar Gold-Silver project and the El Picacho Gold-Silver project. Management feels both projects represent tremendous opportunity to create shareholder value.
Brodie A. Sutherland, P.Geo., CEO 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.
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.
These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. 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 different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to the speculative nature of the Company's business, the Company's formative stage of development and the Company's financial position. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws.
There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue 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: 403-668-7855
Email: bsutherland@tocvan.ca
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