Tocvan drills 35.1 m of 0.72 g/t AuEq at Pilar

Jun 15, 2021

2021-06-15 06:07 ET – News Release

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

Mr. Derek Wood of Tocvan Ventures reports

TOCVAN DRILLS 35.1 METERS OF 0.72 G/T AUEQ IN 100 METER STEP-OUT EAST OF THE MAIN ZONE AT PILAR

Tocvan Ventures Corp. has released the results for the next four drill 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 3,500 metres of reverse circulation (RC) drilling in 20 drill holes. Results for four drill holes are included in this release, highlighted by drill hole JES-21-43, which returned 35.1 metres at 0.66 gram per tonne gold and six g/t silver (0.72 g/t gold equivalent). Thirteen drill holes are pending assay results.

Drill result highlights

JES-21-43:

35.1 metres at 0.66 g/t Au and six g/t Ag (0.72 g/t AuEq) from 97.6 to 132.7 metres:
- Including 13.7 metres at 1.7 g/t Au from 119 to 132.7 metres;
- Including 3.1 metres at 6.8 g/t Au and seven g/t Ag from 119 to 122 metres;
- Also including an upper elevated Ag zone, 7.6 metres at 17 g/t Ag from 97.6 to 105.2 metres.

“JES-21-43 is a significant stepout to our Main zone, 100 metres east of our phase 1 drill hole JES-20-32,” commented vice-president, exploration, Brodie Sutherland. “This not only expands the potential width of our Main zone but also shows a continuation of mineralization down dip towards the east. Pending assay results for the remaining drill holes includes a series of holes stepped further east to test the 4 Trench extension and the continuation of mineralization at depth.”

Results discussion

JES-21-40

The hole was planned to test the Main zone at depth and to the east. Drilling intersected a broad low-grade zone from surface of 58 m of 0.19 g/t Au. Drill holes JES-20-33 (41.2 m at 1.14 g/t Au) and JES-13-15 (34.5 m at 1.27 g/t Au) through the same area of the Main zone intersected higher grade but were drilled from the opposite direction of JES-21-40, suggesting drilling from the east to the west through the zone is the optimal angle for intersecting mineralized structure.

JES-21-41

The hole was planned to test 50 m downdip of drill hole JES-20-32, which returned 94.6 m at 1.6 g/t Au. Several zones of anomalous gold were intersected, including three m of 0.54 g/t AuEq, 4.6 m of 0.43 g/t AuEq, 1.5 m of 0.54 g/t AuEq and, near the bottom of the hole from 199.8 to 212 m, 12.2 m of 0.28 g/t AuEq. The results from JES-21-43 suggest mineralization can widen with depth as the system dips to the east; stepping out to the east of this area remains a strong target for drill testing.

JES-21-42

The hole was planned to test quartz veining and alteration recorded at surface along the 4 Trench extension in a new corridor with little previous drilling. Anomalous gold was intersected, highlighted by 1.5 m at 0.46 g/t Au and five g/t Ag.

JES-21-43

The hole was planned to test the eastern extent of the Main zone, which correlates with a resistivity anomaly from a CSAMT (controlled-source audio magnetotelluric) survey. An oxide zone with quartz veinlets was recorded from 41 m depth to 93 m followed by several quartz veins in oxidized andesite from 93 m to 130 m. The company drilled 35.1 m at 0.66 g/t Au and six g/t Ag from 97.6 m to 132.7 m. The interval is significant as it is spatially 100 m to the east of drill hole JES-20-32 and historic drill hole JES-18-19, both of which returned grades above 0.75 g/t Au over wide intervals.

                       SUMMARY OF DRILL RESULTS

Hole ID            From         To    Width*        Au        Ag       AuEq
                    (m)        (m)       (m)     (g/t)     (g/t)      (g/t)

JES-21-40          1.52      59.48     57.96      0.19         1       0.20
JES-21-41         44.23      47.27      3.04      0.36        17       0.54
and               65.58      70.15      4.57      0.39         4       0.43
and               85.40      86.92      1.52      0.47         7       0.54
and              199.78     211.97     12.19      0.19         4       0.24
JES-21-42         12.20      13.72      1.52      0.46         5       0.51
JES-21-43         97.60     132.68     35.08      0.66         6       0.72
including        118.95     132.68     13.73      1.65         3       1.68
including        118.95     122.00      3.05      6.79         7       6.87
also              97.60     105.22      7.62      0.01        16       0.19
    
* 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 per ounce gold 
and $18/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.

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.

https://tocvan.com/