Tocvan, Colibri complete four trenches at Pilar

Dec 9, 2021

2021-12-09 07:24 ET – News Release

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

Mr. Brodie Sutherland of Tocvan reports

TOCVAN UPDATES ON TRENCHING PROGRAM AT ITS PILAR AU-AG PROJECT

Tocvan Ventures Corp. and Colibri Resource Corp. have provided an update on the trenching program at their Pilar gold-silver project in Sonora, Mexico. Trenching has started with four trenches completed to date at 4-Trench, North Hill and Main zone targets. A trench at North Hill is complete and has been channel sampled to analyze an anomalous copper zone with oxide gold-silver mineralization. A trench at 4-Trench is complete and will be used for structural analysis and future drill targeting. Two Main zone trenches are complete and material will be used for column leach studies and detailed structural analysis. Channel sample results from trenches are expected in January, 2022, followed by submittal of bulk sample material for metallurgical testwork. Drilling following up on phase 2 drill program targets is scheduled to begin within the next week.

Trench plan overview:

Up to seven trenches proposed for the operating season, totalling 140 metres;
Targets include:
- Main zone oxide mineralization;
- North Hill oxide and copper zone;
- 4-Trench trend, structural analysis.

“Trenching is well under way and we look forward to starting drilling in the next few days,” commented vice-president, exploration, Brodie Sutherland. “Our trench program at Pilar will assist in guiding future drill programs as well as provide bulk sampling material across our oxide targets for more advanced metallurgical testwork scheduled to be completed in the new year.”

Trench target details

Main zone

The primary target in the Main zone is the centre of high-grade oxide gold-silver mineralization. One 20-metre trench is planned to cut through the Main zone where surface channel sampling has yielded 10 metres at 2.5 grams per tonne gold and 27 g/t silver.

A second trench is planned 100 m northwest of the primary target to test oxide mineralization at surface where surface sampling returned a range between 0.3 g/t and 6.2 g/t Au.

North Hill

The target for the North Hill prospect is a broad 20-metre zone of oxide gold-silver mineralization associated with anomalous copper (malachite and azurite after chalcopyrite) hosted in quartz veins, stockwork and breccias. Channel surface sampling across this zone averaged 1.7 g/t Au, 56 g/t Ag and 0.4 per cent Cu.

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 22,700 metres of drilling have been completed to date. Significant results are highlighted below:

2021 phase 2 RC (reverse circulation) drilling highlights include (all lengths are drilled thicknesses):
- 39.7 m at 0.96 g/t Au, including 1.5 m at 14. g/t Au;
- 47.7 m at 0.75 g/t Au, including three m at 5.6 g/t Au and 22 g/t Ag;
- 29 m at 0.71 g/t Au;
- 35.1 m at 0.66 g/t Au.
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 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.

https://tocvan.com/