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Tocvan Ventures Corp
Symbol TOC
Shares Issued 27,849,179
Close 2021-05-19 C$ 1.00
Recent Sedar Documents

Tocvan receives permits for 44 Pilar drill pads

2021-05-20 08:59 ET - News Release

Mr. Derek Wood reports

TOCVAN RECEIVES ADDITIONAL PERMIT FOR TRENCHING AND DRILLING AT PILAR

Permits have been received for an additional 44 drill pads and seven trenches at Tocvan Ventures Corp.'s flagship Pilar gold-silver project in Sonora, Mexico. Permitting was initiated as a pro-active measure to ensure the timely and consistent advancement of Pilar. The additional drill pads will be utilized both during the current drill program and during a phase III program planned for the fall of 2021. The trenches are permitted to be five metres by two metres by 20 metres in size and will be utilized later in the year to channel sample across key mineralized sections on the property and to submit bulk sample material for column leach metallurgical analysis. The seven trenches will provide up to 3,500 tonnes of material for metallurgical test work and bulk sampling, ultimately leading toward a larger bulk sample.

Drill program update

To date, 15 drill holes have been completed for a total of 2,370 metres. Samples for the first seven holes have been submitted to ALS Labs in Hermosillo. Early drilling focused on the extension of the Main zone, testing down-dip extensions of mineralization in addition to stepping out along strike. Drill targeting has now shifted toward testing new areas along the 4-Trench Extension and Triple vein zone areas.

"As our current drill program advances we are extremely pleased with our field crews' efforts," commented vice-president of exploration Brodie Sutherland. "In addition, we are excited to have received new drill and trench permits for Pilar to allow for the continued exploration and advancement of the project. The next phase of drilling and trenching will be an important next step for the company and will provide key information as we move towards development."

Corporate update

Tocvan is pleased to announce it has applied for the listing of its common shares on the OTCQB Venture Market, a U.S. trading platform operated by the OTC Markets Group in New York, in addition to applying for eligibility with the Depository Trust Company (DTC).

Tocvan believes that DTC eligibility and trading on the OTCQB will provide additional liquidity and increase its visibility within the U.S. capital markets. The listing of the company's common shares on the OTCQB remains subject to the approval of the OTCQB and the satisfaction of applicable listing requirements. Tocvan will continue to trade on the Canadian Securities Exchange under its symbol TOC.

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 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 m of drilling have been completed to date. Significant results are highlighted below:

  • 2020 phase I RC drilling -- highlights include (all lengths are drilled thicknesses):
    • 94.6 metres at 1.6 grams per tonne Au, including 9.2 m at 10.8 g/t Au and 38 g/t Ag;
    • 41.2 m at 1.1 g/t Au, including 3.1 m at 6.0 g/t Au and 12 g/t Ag;
    • 24.4 m at 2.5 g/t Au and 73 g/t Ag, including 1.5 m at 33.4 g/t Au and 1,090 g/t Ag.
  • 17,700 m of historic core and RC drilling. Highlights include:
    • 61.0 m at 0.8 g/t Au;
    • 16.5 m at 53.5 g/t Au and 53 g/t Ag;
    • 13.0 m at 9.6 g/t Au;
    • 9.0 m at 10.2 g/t Au and 46 g/t Ag.

Soil and rock sampling results from undrilled areas indicate mineralization extends toward 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, PGeo, vice-president of 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 9001 and ISO/IEC 17025 certified. Gold was analyzed using 50-gram nominal weight fire assay with atomic absorption spectroscopy finish. Overlimits for gold (over 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. Overlimit analyses for silver (over 100 g/t) were reassayed 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.

We seek Safe Harbor.

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