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Tocvan Ventures Corp
Symbol TOC
Shares Issued 28,063,829
Close 2021-05-26 C$ 1.35
Recent Sedar Documents

Tocvan drills 29 m of 0.71 g/t Au at Pilar

2021-05-27 06:04 ET - News Release

Also News Release (C-CBI) Colibri Resource Corp (2)

Mr. Brodie Sutherland of Tocvan Ventures reports

TOCVAN DRILLS 29 METERS OF 0.71 G/T AU AND 24.4 METERS OF 0.56 G/T AU IN HOLE JES-21-38 FROM SURFACE IN EXPANSION DRILLING AT PILAR

Tocvan Ventures Corp. has released results for the first three holes from its phase 2 drill program at the Pilar gold-silver project in Sonora, Mexico. A phase 2 drill program is currently in progress with 2,900 metres of reverse circulation (RC) drilling in 17 drill holes completed to date. Results for the first three drill holes are included in this release. Fourteen drill holes are pending assay results.

Drill result highlights

JES-21-38:

  • 29.0 metres at 0.71 gram per tonne gold from surface to 29.0 metres:
    • Including 3.1 metres at 2.6 g/t Au from surface to 3.1 metres;
    • Also including 6.1 metres at 1.9 g/t Au from 22.9 to 29.0 metres;
  • And 24.4 metres at 0.56 g/t Au from 67.1 to 91.5 metres:
    • Including 9.2 metres at 1.3 g/t Au and 14 g/t silver from 79.3 to 88.5 metres.

JES-21-37:

  • 6.1 metres at 0.48 g/t Au and four g/t Ag (0.52 g/t gold equivalent) from 59.5 to 65.6 metres;
  • And 4.6 metres at 0.50 g/t Au and 11 g/t Ag (0.62 g/t AuEq) from 71.7 to 76.3 metres:
    • Including 1.5 metres at 1.13 g/t Au and 24 g/t Ag (1.4 g/t AuEq) from 71.7 to 73.2 metres.

"We are extremely pleased with these early-stage results," commented vice-president, exploration, Brodie Sutherland. "As we advance north of the Main zone we are finding significant mineralization. We are especially excited to see the continuation of mineralization 30 m on strike with our previous drill hole, JES-20-36, which intersected 24.2 m at 2.5 g/t Au and 73 g/t Ag. Pending assay results for the remaining drill holes will largely focus on our new target areas as we continue to unlock the potential of Pilar."

Results discussion

JES-21-37

The hole was planned to test a CSAMT (controlled-source audio-frequency magnetotellurics) resistivity anomaly that correlated with surface quartz veins. A 6.1 m zone was intersected with 0.52 g/t AuEq, followed by a second zone of 4.6 m at 0.62 g/t AuEq. Consistent with surface observations and other drill holes in the area, copper values were elevated in this hole with one interval returning 1.5 m at 1.1 g/t Au, 24 g/t Ag and 1.2 per cent copper.

JES-21-38

The hole was planned to test the continuation of mineralization intersected in drill hole JES-20-36 and to test 25 m updip and farther east of historic drill hole R-8, which intersected 40.4 m at 1.4 g/t Au, including three m at 10.9 g/t Au and 117 g/t Ag. Two zones of significant mineralization were intersected: 29 m at 0.71 g/t Au and 24.4 m at 0.56 g/t Au. Higher silver values were intersected in the deeper interval with a three m zone grading 1.5 g/t Au and 34 g/t Ag.

JES21-39

The hole was planned to test quartz veining and alteration recorded at surface to the west of the Main zone, which directly correlated with an induced polarization anomaly. The hole was also planned to confirm the location of the regional fault-bounded biotite granodiorite that lies to the west of the Main zone. Anomalous gold values (0.18 to 0.47 g/t Au) were intersected in the andesite and granodiorite host rocks.

 
                        SUMMARY OF DRILL RESULTS
 
Hole ID            From        To     Width*       Au        Ag        AuEq
                    (m)       (m)        (m)    (g/t)     (g/t)       (g/t)

JES-21-37         59.48     65.58       6.10     0.48         4        0.52
and               71.67     76.25       4.58     0.50        11        0.62
including         71.67     73.20       1.53     1.13        24        1.39
JES-21-38          0.00     28.98      28.98     0.71         2        0.73
including          0.00      3.05       3.05     2.59         2        2.62
also              22.88     28.98       6.10     1.87         0        1.87
and               67.10     91.50      24.40     0.56         6        0.62
including         79.30     88.45       9.15     1.27        14        1.41
including         83.88     86.92       3.04     1.51        34        1.87
JES-21-39         39.65     41.17       1.52     0.47         1        0.48

* Insufficient drilling has been undertaken to determine true 
widths. All widths reported are core lengths. Gold equivalent 
is calculated using metal prices of $1,700 (U.S.) per ounce gold 
and $18 (U.S.)/oz silver.

 

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

  • 2020 phase 1 RC drilling highlights (all lengths are drilled thicknesses):
    • 94.6 m at 1.6 grams per tonne gold, including 9.2 m at 10.8 g/t Au and 38 g/t silver;
    • 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.

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.

Quality assurance/quality control

RC chips were shipped for sample preparation to ALS in Hermosillo, Sonora, Mexico, and for analysis at the ALS laboratory in North Vancouver. The ALS Hermosillo and North Vancouver facilities are International Organization for Standardization 9001 and 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 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 it can build upon previous success. Management feels the Pilar gold-silver project in Sonora, Mexico, and the Rogers Creek copper project in Southern British Columbia both represent tremendous opportunity to create shareholder value.

We seek Safe Harbor.

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