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Tocvan Ventures Corp
Symbol TOC
Shares Issued 24,480,287
Close 2020-12-01 C$ 0.43
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Tocvan Ventures starts drilling at Pilar

2020-12-01 06:38 ET - News Release

Mr. Derek Wood reports


Tocvan Ventures Corp. has started up its maiden drill program at the Pilar gold-silver project in Sonora, Mexico. Phase 1 of the program plans for up to 1,500 metres of reverse circulation (RC) drilling utilizing one drill rig at the Pilar Main zone.

"We are excited to start our first drill program and continue to show the potential of Pilar," commented president and chief executive officer Derek Wood. "Tocvan's work over the past year has generated new target areas and shown great potential for deeper mineralization. Phase 1 drilling will focus on expanding known mineralization within the Main zone whilst acquiring important data to continue advancing the new target areas for later drilling. Field crews are on site with COVID-19 mitigation plans in place and are ready to commence drilling."

Priority drill targets

The program will provide important structural data to incorporate into the recently interpreted deep feeder zones and controlling north-south faults (see press release from Oct. 26, 2020). The results of phase 1 will be used to define deeper drill targets (greater than 125 metres) and delineate key structures for exploring on trend and parallel to the Main zone. A phase 2 program will utilize the key structural data acquired in phase 1 to begin testing the feeder pipe structures interpreted from ground geophysical surveys.

In addition, drilling is planned at the Pilar Main zone to expand the area of known mineralization, building upon the success of previous drill programs. Plans include stepout drilling of drill holes JESP-13-15 and JES-18-24 that intersected:

  • JESP-13-15: 34.5 m grading 1.3 grams per tonne gold:
    • Including three m grading 9.5 g/t Au and 28 g/t Ag;
    • And 21 m grading 0.83 g/t Au;
  • JES-18-24: 48 m grading 0.87 g/t Au:
    • Including 1.5 m grading 17.3 g/t Au.

Confirmation drilling of historic drill holes from 1996 and 1997 will also be completed so these data can be included in future resources estimation.

Management change

Tocvan would like to announce Mark T. Smethurst will be stepping down from his role as chief operating officer. Mr. Smethurst will remain on the Tocvan board of directors as an important adviser to the corporation. Tocvan would like to acknowledge Mr. Smethurst for his efforts in identifying the potential of the Pilar project and his work to generate new target areas across the project. Tocvan director Brodie A. Sutherland, PGeo, will be taking over as vice-president, exploration, and seeing to the advancement of the Pilar project. Mr. Sutherland has 14 years of experience managing exploration and resource definition drill programs across the globe.

"Tocvan would like to thank Mr. Smethurst for his role in developing the Pilar project to date," commented Mr. Wood. "As the Pilar project advances we are excited to have Mr. Sutherland take on a management role to see to the continued development of Pilar."

About the Pilar property

The Pilar gold-silver property is interpreted as a structurally controlled low-sulphidation epithermal project hosted in andesite and rhyolite rocks. Hydrothermal fluids carrying gold, silver and other elements are transported through the pre-existing structures and precipitate from the fluids to become mineralized veins within the structures and surrounding host rock.

Three zones of mineralization have been identified in the northwest 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 northwest-southeast trend of mineralization. Over 17,700 m of drilling has been completed to date. Significant results are highlighted below from previous operators:

  • 17,700 m of core and reverse circulation drilling; highlights include (all lengths are drilled thicknesses):
    • 0.73 gram per tonne gold over 40 metres;
    • 0.75 g/t Au over 61 m;
    • 17.3 g/t Au over 1.5 m;
    • 5.27 g/t Au over three m;
    • 53.47 g/t Au and 53.4 g/t Ag over 16 m;
    • 9.64 g/t Au over 13 m;
    • 10.6 g/t Au and 37.8 g/t Ag over nine m;
  • 2,650 m of surface and trench channel sampling; highlights include:
    • 55 g/t Au over three m;
    • 28.6 g/t Au over six m;
    • 3.39 g/t Au over 50 m;
  • Soil sampling results from undrilled areas indicating mineralization extend toward the southeast from the Main zone, North Hill zone and 4-Trench zone.

Additional areas of mineralization have been identified resulting from surface rock grab sample assay results that extend known mineralized trends and show a second northwest-southeast trend of mineralization to the east parallel to the trending zone described herein. Gold-silver mineralization is indicated across the property from the north to the south. See press release dated Jan. 7, 2020. Significant results from that particular survey are highlighted in the attached table.

Mr. Sutherland, a qualified person as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.

About Tocvan Ventures Corp.

Tocvan is a well-structured exploration mining company. Tocvan was created to take advantage of the prolonged downturn in the junior mining exploration sector by identifying and negotiating interest in opportunities where management feels it can build upon previous success. Tocvan Ventures currently has approximately 17.7 million shares outstanding and is earning into two exiting opportunities: the Pilar gold project in the Sonora state of Mexico and the Rogers Creek project in Southern British Columbia. Management feels both projects represent tremendous opportunity.

We seek Safe Harbor.

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