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Tocvan Ventures Corp
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Close 2020-09-29 C$ 0.47
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Tocvan Ventures finds pipe-like feature at Pilar

2020-09-29 06:27 ET - News Release

Mr. Derek Wood reports


Tocvan Ventures Corp. has made several key observations and conclusions from recent technical studies focused on the identification of a phase 1 program of drill hole targets at the Pilar gold-silver project in Sonora, Mexico.

As noted in previous press releases going back to Jan. 7, 2020, the work completed on the Pilar gold-silver epithermal project has incorporated a variety of field programs, including geophysical surveys, rock and soil geochemical sampling, and structural analysis.

At the signing of the option agreement the Pilar property had a concentration of over 17,700 m of drilling mainly in the northwest quadrant of the property with the majority of the hole depths reaching approximately 125 m depth from surface, and some soil sampling spaced at a 100 m on the east side of the property.

Results of work since November, 2019, have revealed a gold-silver-mineralized trend extending southeast from the main drilled area, a second parallel mineralized trend of gold and silver to the east of the drilled area, a new high-grade silver zone (East zone), and results also show gold-silver mineralization extending across the property from north to south.

Data synthesis is currently under way to refine drill hole targets. The process for drill hole permitting has begun, and Tocvan is currently entertaining quotes from drilling companies.

Gold-silver epithermal deposits are structurally controlled. To locate the structures containing the mineralization is a specialized process requiring skilled data analyses from proficient specialized professionals. To achieve high-quality analyses various consulting firms were brought together to perform joint examinations: Jeremy S. Brett, MSc, PGeo, senior geophysical consultant with MPH Consulting Ltd.; Dr. Sandy M. Archibald, PhD, PGeo (PGO), Aurum Exploration Services (geochemistry); David Lewis, MSc, PGeo (PGO), consulting structural geologist; and Rodrigo Calles-Montijo, Ing, Geo, CPG-QP, IMEx Servicios Geologicos. Mr. Calles-Montijo is based in Hermosillo and provides a full-service exploration consulting firm. The board of Tocvan would like to commend Mr. Calles-Mintijo for his sterling work and professionalism during a time of restricted travel and government ordered work shutdowns resulting from the current world health crisis. The company looks forward to working with Mr. Calles-Montijo and his team during Tocvan's upcoming maiden Pilar drill program.

Several significant conclusions from the joint effort of these geophysical, geochemical and structural specialists were made. One significant conclusion is the interpretation of a subvertical pipe-like feature that may represent a breccia feeder pipe related to epithermal mineralization. The pipe is about 100 metres in diameter, oval-shaped and has a steep plunge (about 70 degrees) to south-southwest with a 195-degree azimuth, and the pipe location appears to be controlled by a fold nose, based on interpreted basement folding. In relation to the epithermal model, breccia pipes are a significant feature and can hold bonanza grades (greater than one ounce per ton) of gold and silver. The pipes may extend from fissure veins that are known to contain significant grades of gold and silver in other epithermal deposits.

To date the work had located features in the two-dimensional plane on the surface at the Pilar property. Results from further analyses provide a much better understanding of the vertical placement of the Pilar mineralized system in 3-D space. The presence of silica caps was indicated based on geological mapping and interpretation of shallow soil geochemistry. It is recommended that these locations be drill tested since gold mineralization might be present beneath these caps. Geophysical interpretation estimated that the silica caps extend to an approximate depth of 150 m with a varying boundary/transition into the host rock.

Special note

The current world health situation requires adjustments to work programs; health and safety are considered first.

Current health advice is for families and groups to self-isolate and to use caution with suggested recommendations from health leaders when social distancing becomes a challenge. Countries are beginning to allow businesses to operate again. Isolation is an inherent part of mineral development programs.

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. Hydrothermal fluids carrying gold, silver and other elements are transported through the pre-existing structures and precipitate from the fluids to become mineralized veins within the structures and surrounding host rock.

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 17,700 m of drilling have been completed to date. Significant results are highlighted below from previous operators:

  • 17,700 metres of core and RC drilling; highlights include (all lengths are drilled thicknesses):
    • 0.73 g/t Au over 40 m;
    • 0.75 g/t Au over 61 m;
    • 17.3 g/t Au over 1.5 m;
    • 5.27 g/t Au over three m;
    • 53.47 g/t Au and 53.4 g/t Ag over 16 m;
    • 9.64 g/t Au over 13 m;
    • 10.6 g/t Au and 37.8 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;
    • 3.39 g/t Au over 50 m;
  • Soil sampling results from undrilled areas indicating mineralization extends toward the southeast from the Main zone, North Hill zone and 4 Trench zone.

Additional areas of mineralization have been identified resulting from surface rock grab sample assay results that extend known mineralized trends and show a second northwest-southeast trend of mineralization to the east parallel to the trending zone described above; gold-silver mineralization is indicated across the property from the north to the south; see press release dated Jan. 7, 2020. Significant results from that particular survey are highlighted in the associated table.

Sample No.                 Au              Ag              Cu              Pb
                        (g/t)           (g/t)             (%)             (%)

PILAR-MTS-02              0.9            14.3           0.261           0.003
PILAR-MTS-03              1.3             5.4           0.338           0.002
PILAR-MTS-05              0.8            12.7           0.129           0.002
PILAR-MTS-06              3.2             8.3           0.350           0.001
PILAR-MTS-09              0.2             2.2           1.255           0.005
PILAR-MTS-10              0.9            17.2           0.734           0.010
PILAR-MTS-11              3.8            57.4           0.846           0.005
PILAR-MTS-12              0.0             5.6           1.910           0.001
PILAR-MTS-13              0.0            12.9           0.946           0.001
PILAR-MTS-14              0.1             3.3           1.400           0.001
PILAR-MTS-19              0.8             1.7           0.013           0.008
PILAR-MTS-20              5.6            84.2           0.088           1.710
PILAR-MTS-21              0.7            20.3           0.027           0.185
PILAR-MTS-22              9.3            76.4           0.120           2.150
PILAR-MTS-25              0.5           323.0           0.016           0.242
PILAR-MTS-26              1.4             2.4           0.002           0.013
PILAR-MTS-27              2.2            14.7           0.012           0.259
PILAR-MTS-29              4.3           172.0           0.086           1.125
PILAR-MTS-30             23.7           116.0           0.089           0.040
PILAR-MTS-33              4.4            44.5           0.109           0.036
PILAR-MTS-34              7.5            41.9           0.044           0.022
PILAR-MTS-35              2.2             3.5           0.179           0.008

The technical information in this news release pertaining to geological data and their interpretation has been prepared by Mark T. Smethurst, PGeo, chief operating officer, director of the company, and a qualified person within the meaning of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Tocvan Ventures Corp.

Tocvan is a well-structured exploration mining 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 Ventures currently has approximately 17.7 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 projects represent tremendous opportunity.

We seek Safe Harbor.

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