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Tocvan Ventures Corp
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Shares Issued 24,688,837
Close 2021-02-08 C$ 0.61
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Tocvan Ventures drills 94.6 m of 1.6 g/t Au at Pilar

2021-02-09 05:52 ET - News Release

Mr. Derek Wood reports


Tocvan Ventures Corp. has released results from its maiden drill program at the Pilar gold-silver project in Sonora, Mexico. A phase 1 drill program was completed in December of 2020 totalling 1,505 metres of reverse circulation (RC) drilling in nine drill holes. Results for all nine drill holes are included in this release; all drill targets were stepouts of historic drill holes within the Main zone.

Drilling highlights:

  • JES-20-32 -- 94.6 metres at 1.6 grams per tonne gold from 57.9 to 152.5 metres, including a high-grade core of 9.2 metres at 10.8 g/t Au and 38 g/t silver from 57.9 to 67.1 metres;
  • JES-20-33 -- 41.2 metres at 1.1 g/t Au from 57.9 to 99.1 metres, including a high-grade core of 3.1 metres at 6.0 g/t Au and 12 g/t Ag from 71.6 to 74.8 metres;
  • JES-20-36 -- 24.4 metres at 2.5 g/t Au and 73 g/t Ag from 96.1 to 120.5 metres, including a high-grade core of 9.2 metres at 6.3 g/t Au and 192 g/t Ag from 96.1 to 105.2 metres, including 1.5 metres at 33.4 g/t Au and 1,090 g/t Ag from 96.1 to 97.6 metres.

"We are excited to announce the results for our first drill program at Pilar," commented president and chief executive officer Derek Wood. "Today's results confirm the impressive gold and silver mineralization at Pilar is open for expansion. Planning is well under way for our next phase of drilling that will continue to expand the areas of known mineralization and test other property-wide targets, drilling deeper and farther out from our established Main zone."

Drill results discussion

A total of 1,505 metres of RC drilling in nine drill holes were completed during the phase 1 program. All drill holes were stepouts or extensions of previously drilled areas. Results are summarized in a table on the company's website and highlights of the program are shown in an image on the company's website. JES-20-32 was a 25-metre stepout of historic drill hole P-9B, which reported 28.5 metres at 3.4 g/t Au and 22 g/t Ag; hole P-9B ended within a mineralized zone. JES-20-32 was successful in extending the broad mineralization zone seen in P-9B by reporting similar grades and extending the total depth extent of mineralization recorded. JES-20-33 tested 30 metres downdip of historic drill hole JESP-13-15, which reported 37.5 metres at 1.2 g/t Au. The results from JES-20-33 show continuity of grade at depth. JES-20-36 was a 25-metre stepout from historic drill hole Q8-B, which reported 18 metres at 7.3 g/t Au. Mineralization in JES-20-36 was intersected deeper than anticipated and included a high-grade gold-silver interval of 1.5 metres at 33.4 g/t Au and 1,090 g/t Ag. The Pilar Main zone remains open at depth and along the southeast extension.

Five of the remaining six drill holes returned anomalous values for gold and silver. Structural and geochemical investigations are under way to determine the significance of each.

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. 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 19,200 metres of drilling have been completed to date. Significant results are highlighted below from previous operators:

  • 17,700 m of historic core and RC drilling; highlights include (all lengths are drilled thicknesses):
    • 0.8 g/t Au over 61 m;
    • 53.5 g/t Au and 53 g/t Ag over 16.5 m;
    • 9.6 g/t Au over 13 m;
    • 10.2 g/t Au and 46 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;
    • 3.4 g/t Au over 50 m;
  • Soil and rock sampling results from undrilled areas indicate mineralization extends toward the southeast from the Main zone, North Hill zone and 4 trench zone.

Brodie A. Sutherland, PGeo, vice-president, exploration, for Tocvan Ventures 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 Ltd. in Hermosillo, Sonora, Mexico, and for analysis at the ALS laboratory in North Vancouver. The ALS Hermosillo and North Vancouver facilities are ISO (International Organization for Standardization) 9001 and ISO/IEC (International Organization for Standardization/International Electrotechnical Commission) 17025 certified. Gold was analyzed using 50-gram nominal weight fire assay with atomic absorption spectroscopy finish. Overlimits for gold (greater than 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 (inductively coupled plasma) finish. Overlimit analyses for silver (greater than 100 g/t) were reassayed using an ore-grade four-acid digestion with ICP-AES (inductively coupled plasma atomic emission spectroscopy) 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 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 24.5 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 opportunities represent tremendous opportunity.

We seek Safe Harbor.

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