Tocvan drills 47.3 m of 0.75 g/t Au at Pilar

Jul 8, 2021

2021-07-08 07:12 ET – News Release

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

Mr. Derek Wood of Tocvan Ventures reports

TOCVAN DRILLS 47.3 METERS OF 0.75 G/T AU FROM SURFACE IN STEP-OUT SOUTH OF THE MAIN ZONE ALSO DRILLS 7.6 METERS OF 1.7 G/T AU AND 7 G/T AG AT NEW 4-TRENCH EXTENSION TARGET

Tocvan Ventures Corp. has provided results for the next six drill holes from its phase II drill program at the Pilar gold-silver project in Sonora, Mexico. A phase II drill program has concluded with over 3,500 metres of reverse circulation (RC) drilling in 20 drill holes. Results for six drill holes are included in this release, highlighted by drill hole JES-21-47, which returned 47.3 metres at 0.75 gram per tonne Au and five g/t silver (0.80 g/t gold equivalent (AuEq). Seven drill holes from new target areas are pending assay results.

Drill result highlights

JES-21-47

47.3 metres at 0.75 g/t Au and five g/t Ag (0.80 g/t AuEq) from surface to 47.3 metres:
- Including 12.2 metres at 1.1 g/t Au and 12 g/t Ag from surface to 12.2 metres;
- Also 19.8 metres at 1.06 g/t Au and four g/t Ag from 27.5 to 47.3 metres;
- Including 3.1 metres at 5.6 g/t Au and 22 g/t Ag from 44.2 to 47.3 metres.

New 4-Trench extension target

JES-21-44

44.2 metres at 0.41 g/t Au and 4 g/t Ag (0.45 g/t AuEq) from 10.7 to 54.9 metres:
- Including 7.6 metres at 1.7 g/t Au and seven g/t Ag from 47.3 to 54.9 metres.

“JES-21-47 is another significant step-out to our Main zone, expanding the potential further southeast along trend,” commented vice-president of exploration Brodie Sutherland. “With each hole we learn a little more about how this system behaves, giving us more confidence to test our new target areas at Pilar. In addition, we are starting to see results for the 4-Trench extension target and we are excited to have intersected 7.6 m at 1.7 g/t Au, in one of our first holes in that area. With the conclusion of our phase II drill program, we look forward to releasing the remaining results once available and begin planning for the next phase of program development.”

Results discussion

JES-21-44

The hole was planned to test the 4-Trench extension target. Drilling intersected a broad low-grade zone from 10.7 to 54.9 m of 0.41 g/t Au, including a higher grade section at depth of 7.6 m of 1.7 g/t Au and seven g/t Ag (see table available on-line). Historic results from drill hole N-12 intersected 4.5 m of 1.42 g/t Au, 40 m to the east of JES-21-44, suggesting mineralization is widening to the northwest along this trend.

JES-21-47

The hole was planned to test southeast along the Main zone trend 100 m from drill hole JES-20-32. The hole also tested 60 m down dip of historic hole JES-18-03, which intersected 13.5 m of 5.6 g/t Au and 22 g/t Ag. A broad zone was intersected from surface to 47.3 m of 0.75 g/t Au and five g/t Ag with higher grade intervals up to 3.1 m of 5.6 g/t Au and 22 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/oz 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 I 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 ISO 9001 and ISO/IEC 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 finish. Overlimit analyses for silver (over 100 g/t) were reassayed using an ore-grade four-acid digestion with ICP-AES 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 they 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.

https://tocvan.com/