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Tocvan Ventures Corp
Symbol TOC
Shares Issued 28,441,496
Close 2021-07-27 C$ 1.40
Recent Sedar Documents

Tocvan, Colibri drill 15.3 m of 1.1 g/t Au at Pilar

2021-07-27 05:58 ET - News Release

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

Mr. Brodie Sutherland of Tocvan Ventures reports

TOCVAN DRILLS 15.3 METERS OF 1.1 G/T AU IN NEW 4-TRENCH EXTENSION DEFINES NEW MINERALIZED TREND OVER A 500 METER STRIKE AT PILAR

Tocvan Ventures Corp. and Colibri Resource Corp. have released results for the next four drill holes from their phase 2 drill program at the Pilar gold-silver project in Sonora, Mexico. A phase 2 drill program was completed in June with over 3,500 metres of reverse circulation (RC) drilling in 20 drill holes. Results for four drill holes from the 4-Trench target area are included in this release, highlighted by drill hole JES-21-53, which returned 15.3 metres at 1.1 grams per tonne gold. The results from 4-Trench have defined a new mineralized trend 500 metres long adjacent to the established Main zone. Three drill holes from new target areas are pending results.

Drill result highlights:

  • JES-21-53 -- 15.3 metres at 1.1 g/t Au and two g/t Ag from 36.6 to 51.9 metres:
    • Including 4.6 metres at 2.4 g/t Au and three g/t Ag from 41.2 to 45.8 metres;
    • Including 1.5 metres at 4.6 g/t Au and three g/t Ag from 42.7 to 44.2 metres;
  • JES-21-52 -- 3.0 metres at 0.63 g/t Au and 47 g/t Ag from 33.6 to 36.6 metres:
    • And 3.0 metres at 0.49 g/t Au and 31 g/t Ag from 41.2 to 44.2 metres;
  • JES-21-55 -- 10.7 m at 0.43 g/t Au and four g/t Ag from 10.7 to 21.4 metres:
    • Including 1.5 metres at 1.2 g/t Au and seven g/t Ag from 12.2 to 13.7 metres.

"Drilling along the 4-Trench extension target has defined a new trend over a 500 m strike length immediately adjacent to our Main zone," commented vice-president, exploration, Brodie Sutherland. "We are seeing mineralization in every hole along the trend with grades above one g/t gold in holes JES-21-53 and JES-21-44, 100 m apart. This first pass of drilling has started to unlock the potential of a new parallel trend to our Main zone, which we are excited to test in our next phase of drilling."

Results discussion

JES-21-52

The hole was planned to test the 4-Trench extension target. Drilling intersected a broad low-grade zone from 7.6 to 44.2 m of 0.18 g/t Au and seven g/t Ag, including two higher-grade sections with three m of 0.63 g/t Au and 47 g/t Ag along with three m of 0.49 g/t Au and 31 g/t Ag.

JES-21-53

The hole was planned to test the 4-Trench extension target 100 m on trend with drill hole JES-21-44. The hole intersected 15.3 m of 1.1 g/t Au, including 1.5 m of 4.6 g/t Au.

JES-21-54

The hole was planned to test the 4-Trench extension target 100 m along trend from JES-21-53. Drilling intersected a broad low-grade zone from 45.8 to 74.2 m of 0.11 g/t Au.

JES-21-55

The hole was planned to test 4-Trench extension target at the northwest extent of the trend. The hole intersected 10.7 m of 0.43 g/t Au, including two elevated zones each 1.5 m at 1.2 g/t Au. The hole was stopped due to a mechanical issue before reaching final target depth. The hole ended in 0.19 g/t Au and 31 g/t Ag.

Insufficient drilling has been undertaken to determine true widths. All widths reported are core length. Gold equivalent (AuEq) is calculated using metal prices of $1,700 (U.S.)/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 m of drilling have been completed to date. Significant results are highlighted below.

  • 2020 phase 1 RC drilling highlights include (all lengths are drilled thicknesses):
    • 94.6 m at 1.6 g/t 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 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 (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 (inductively coupled plasma) finish. Overlimit analyses for silver (over 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 in the junior mining exploration sector, by identifying and negotiating interest in opportunities where management feels it 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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