04:59:15 EST Wed 02 Dec 2020
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
Tocvan Ventures Corp
Symbol TOC
Shares Issued 24,447,537
Close 2020-10-26 C$ 0.43
Recent Sedar Documents

Tocvan identifies Pilar drill targets, awaits permit

2020-10-27 02:14 ET - News Release

Mr. Derek Wood reports

TOCVAN ANNOUNCES DRILL TARGETS, AT THE PILAR GOLD-SILVER PROJECT IN SONORA, MEXICO

Tocvan Ventures Corp. has drill targets for the next phase of the development program at the Pilar gold-silver project in Sonora, Mexico. Drill permitting is under way and is pending.

Successes have been achieved from the phase 1 target-generating program over the past six months to locate targets for drill testing. MPH Consulting Ltd. and SRK Consulting (Canada) Inc. have completed the structural analyses on the Pilar property in Mexico. High-grade gold and silver are located within and controlled by structures such as faults, intersecting faults and dilated structures.

Results from the study show deep penetrating subvertical north-trending structures found within the northwest-trending structural shear corridor. Gold and silver mineralization corresponds with north-trending structures bounded within the northwest-trending shear zone. The north-trending faults are extensional features that can be interpreted as en echelon (dilational) structures. These dilational faults have an approximate length of 300 metres, extend from surface to an approximate depth of 600 metres and are repeating structures within the northwest-trending large shear corridor across the property for at least 1,000 m. Additional drill targets, where gold values are also controlled, are at the intersections of north-trending faults with northwest-trending shear structures. These intersections are often areas of weaknesses, dilated, and present as pockets and chutes.

The north-trending extensional structures (en echelon) are dominant features becoming more conspicuous with depth and likely acted as the plumbing system for the mineralized hydrothermal fluids. These structures start to become more discernible at 250 m below surface with increasing clarity approaching 600 m below surface. Also note in the press release dated Sept. 29, 2020, the additional target of the near/at-surface pipe-structure discovery and its correlation with the middle north-trending structure. Pipe structures are features formed in areas of weakness -- that is, intersecting faults -- and have the possibility of containing high-grade gold and silver. Note in the press release dated Oct. 15, 2020, the spatial correlation of the recently identified high-grade silver East zone with an interpreted pipe feature from geochemistry analyses.

According to the epithermal model, which draws comparisons from epithermal deposits from around the world, high-grade gold and silver, including bonanza grades (greater than one ounce per ton gold), have commonly been found at depths of 250 m to as far as 800 m below surface (G.J. Corbett and T.M. Leach, 1997). Those high-grade intercepts have been found within large vein structures, fissures, pipe structures and other extensional (dilation) structures. The target-generating work completed over the past six months has revealed structures amenable to possessing high-grade mineralization consistent with the low-sulphide epithermal model.

Results from the structural study reinforce a previous recent study (press release dated Sept. 29, 2020) based on geochemistry of locating the epithermal gold-silver system vertically in space. This is key in estimating the depth to intercept high-grade gold and silver. Highly silicified rocks trend northwest-southeast and have a spatial correlation to northwest-southeast-trending faults. These silica caps (silica sinters) are located in the Main zone and North Hill zone, and are believed to have thicknesses of at least 150 m. Silica sinters are indicative of the paleosurface (the original surface at the time of emplacement). It is the surface expression of the hydrothermal system. According to the epithermal model, it is not uncommon for highly silicified areas to contain leakage anomalies of mineralization, which is an indicator of higher-grade mineralization deeper down in an epithermal gold-silver system beneath the silica caps. From comparisons of epithermal deposits from around the world, high-grade gold and silver have commonly been found at depths of 250 m to as far as 800 m below the paleosurface (G.J. Corbett and T.M. Leach, 1997).

Reference:

G.J. Corbett and T.M. Leach, 1997, Southwest Pacific Gold-Copper Systems: Structure, Alteration and Mineralization: Short Course Manual.

Special note

The current world health situation requires adjustments to work programs, and 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 has been completed to date. Significant results are highlighted below from previous operators:

  • 17,700 m of core and reverse circulation drilling; highlights include (all lengths are drilled thicknesses):
    • 0.73 gram per tonne gold over 40 metres;
    • 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 extend 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 herein. 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 attached table.

                         SIGNIFICANT RESULTS

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

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, 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 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 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.

© 2020 Canjex Publishing Ltd. All rights reserved.