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Calgary, Alberta TheNewswire - March 18, 2021 - TOCVAN Ventures Corp. ( C NSX: TOC. CN ) (" Tocvan " or the " Corporation ") is pleased to provide an update on exploration at its flagship Pilar Gold-Silver Project. Work completed includes detailed mapping and sampling of key targets across the Project Area (Figure 1). The aim of the program was to advance key targets with no previous mapping or detailed sampling to drill ready status for a Phase II drill program. A total of 207 rock chip samples were collected covering the entire property, assay results are pending.
Mapping of the project has identified key target vein zones including a new Triple Vein Zone ("TVZ") that extends 350 meters south of the Main Zone. The TVZ has mapped veins 5 to 15 meters wide, all hosted with the same oxidized andesite rock seen at the drill defined Main Zone. Mapped structures correlate with a previous CSAMT geophysics survey, increasing the confidence in the understanding of the geology. In addition, veins mapped along the 4 Trench Trend indicate over 400 meters of vein strike length previously untested by drilling. A new SE Vein Zone along the eastern edge of the property has been identified with two dominant vein trends. The first trend with the same northwest strike as seen at Main Zone and 4 Trench areas, the other trending north-south and correlating with anomalous gold values recorded from previous rock and soil sampling. Two separate north-south veins have been identified and have been inferred to extend for 200 meters.
The surface exploration work completed will provide important information for the final planning for the next phase of drilling expected to start in the next month.
Summary of Mapping Program:
NEW Main Zone Extension
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- 800 meter southeast extension of the Main Zone
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- NEW Triple Vein Zone , extending for 350 meters . Altered vein zones ranging from 5 to 20 meters wide
- NEW SE Vein Zone, extending over 200 meters. Veins with north-south orientation.
- Broad, property wide oxide alteration
- 800 meters of anomalous soils with values ranging from 106 ppb to 911 ppb Au
- 2019 rock grab samples including 9.3 g/t Au and 76 g/t Ag
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4-Trench
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- 600 meter trend that includes the 4-Trench Zone highlighted by:
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- NEW veins mapped indicate over 400 meter strike length untested by drilling
- 600 meters of anomalous soils with values ranging from 118 ppb to 2,030 ppb Au
- 2019 rock grab samples including 24 g/t Au and 116 g/t Ag
- Network of historic artisanal workings over a 350 meter strike
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"We are extremely pleased with how the geologic model is advancing at Pilar," commented VP Exploration, Brodie Sutherland. "By going back to the basics, our geologists have identified several new vein zones that correlate with previous reconnaissance rock and soil sampling. These vein zones are also hosted in the same altered oxidized andesite host rock we see at the Main Zone. This is an important step to unlocking the full potential of Pilar as we move towards our next phase of drilling."
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Figure 1. 3D Target Map of Pilar Gold-Silver Project. New veins are outlined in red. Outside of the Main Zone the majority of the project area has not been drill tested.
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. Three zones of mineralization have been identified in the north-west 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 NW-SE trend of mineralization. Over 19,200 m of drilling have been completed to date. Significant results are highlighted below from previous operators:
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- 17,700m of Historic Core & RC drilling. Highlights include ( all lengths are drilled thicknesses ):
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- 0.8 g/t Au over 61 m
- 53.5g/t Au & 53 g/t Ag over 16.5 m
- 9.6 g/t Au over 13 m
- 10.2 g/t Au & 46 g/t Ag over 9 m
- 2,650m of surface and trench channel sampling. Highlights include:
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- 55 g/t Au over 3 m
- 28.6 g/t Au over 6 m
- 3.4 g/t Au over 50 m
- Soil and Rock sampling results from undrilled areas indicate mineralization extends towards the southeast from the Main Zone, North Hill Zone, and 4-Trench Zone.
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Brodie A. Sutherland, P.Geo., VP Exploration for Tocvan Ventures Corp. and a qualified person ("QP") as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.
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 25 million shares outstanding and is earning into two exciting opportunities. The Pilar Gold project in Sonora, Mexico and the Rogers Creek project in southern British Columbia, management feels both projects represent tremendous opportunity.
Cautionary Statement Regarding Forward Looking Statements
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Forward-looking information in this news release includes statements regarding the use of proceeds from the Offering. Such forward-looking information is often, but not always, identified by the use of words and phrases such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to the speculative nature of the Company's business, the Company's formative stage of development and the Company's financial position.
Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Derek A. Wood, President and CEO
Suite 1150 Iveagh House,
707 – 7 th Avenue SW
Calgary, Alberta T2P 3H6
Telephone: (403) 200-3569
Email: dwood@tocvan.ca
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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