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Tocvan mapping finds drill targets at Pilar

2021-03-18 07:06 ET - News Release

Mr. Derek Wood reports

TOCVAN COMPLETES EXPLORATION PROGRAM AT PILAR GOLD-SILVER PROJECT SONORA, MEXICO. MAPPING DEFINES THREE NEW VEIN ZONES.

Tocvan Ventures Corp. has provided an update on exploration at its flagship Pilar gold-silver project. Work completed includes detailed mapping and sampling of key targets across the project area. The aim of the program was to advance key targets with no previous mapping or detailed sampling to drill-ready status for a phase 2 drill program. A total of 207 rock chip samples were collected covering the entire property; assay results are pending.

Mapping of the project has identified key target vein zones including a new Triple vein zone (TVZ) that extends 350 metres south of the Main zone. The TVZ has mapped veins five to 15 metres wide, all hosted with the same oxidized andesite rock seen at the drill defined Main zone. Mapped structures correlate with a previous CSAMT (controlled-source audio-frequency magnetotellurics) geophysics survey, increasing the confidence in the understanding of the geology. In addition, veins mapped along the 4 Trench trend indicate over 400 metres of vein strike length previously untested by drilling. A new Southeast vein zone along the eastern edge of the property has been identified with two dominant vein trends. The first trend with the same northwest strike as seen at Main zone and 4 Trench areas, the other trending north-south and correlating with anomalous gold values recorded from previous rock and soil sampling. Two separate north-south veins have been identified and have been inferred to extend for 200 metres.

The surface exploration work completed will provide important information for the final planning for the next phase of drilling expected to start in the next month.

Summary of mapping program

New Main zone extension:

  • 800-metre southeast extension of the Main zone:
    • New Triple vein zone, extending for 350 metres; altered vein zones ranging from five to 20 metres wide;
    • New Southeast vein zone, extending over 200 metres; veins with north-south orientation;
    • Broad, property-wide oxide alteration;
    • 800 metres of anomalous soils with values ranging from 106 parts per billion to 911 ppb gold;
    • 2019 rock grab samples including 9.3 grams per tonne gold and 76 g/t silver.

4 Trench:

  • 600-metre trend that includes the 4 Trench zone highlighted by:
    • New veins mapped indicate over 400-metre strike length untested by drilling;
    • 600 metres of anomalous soils with values ranging from 118 ppb to 2,030 ppb Au;
    • 2019 rock grab samples including 24 g/t Au and 116 g/t Ag;
    • Network of historic artisanal workings over a 350-metre strike.

"We are extremely pleased with how the geologic model is advancing at Pilar," commented vice-president, exploration, Brodie Sutherland. "By going back to the basics, our geologists have identified several new vein zones that correlate with previous reconnaissance rock and soil sampling. These vein zones are also hosted in the same altered oxidized andesite host rock we see at the Main zone. This is an important step to unlocking the full potential of Pilar as we move towards our next phase of drilling."

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.

Mr. Sutherland, a qualified person (QP) 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 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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