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Releases Phase II Results for the First Three Drill Holes
TOCVAN Ventures Corp. ( C NSX :TOC. CN ) (" Tocvan " or the " Corporation ") is pleased to announce results for the first three holes from its Phase II drill program (the " Program ") at the Pilar Gold-Silver Project in Sonora, Mexico. A Phase II drill program is currently in progress with 2,900 meters of reverse circulation (RC) drilling in seventeen (17) drill holes completed to date. Results for the first three drill holes are included in this release. Fourteen (14) drill holes are pending assay results
Drill Result Highlights
JES-21-38 (Figure 1)
- 29.0 meters at 0.71 g/t Au from surface to 29.0 meters
- Including 3.1 meters at 2.6 g/t Au from surface to 3.1 meters
- Also, Including 6.1 meters at 1.9 g/t Au from 22.9 to 29.0 meters
- And, 24.4 meters at 0.56 g/t Au from 67.1 to 91.5 meters
- Including 9.2 meters at 1.3 g/t Au and 14 g/t Ag from 79.3 to 88.5 meters
JES-21-37
- 6.1 meters at 0.48 g/t Au and 4 g/t Ag (0.52 g/t AuEq) from 59.5 to 65.6 meters
- And, 4.6 meters at 0.50 g/t Au and 11 g/t Ag (0.62 g/t AuEq) from 71.7 to 76.3 meters
- Including 1.5 meters at 1.13 g/t Au and 24 g/t Ag (1.4 g/t AuEq) from 71.7 to 73.2 meters
"We are extremely pleased with these early stage results", commented VP Exploration, Brodie Sutherland. "As we advance north of the Main Zone we are finding significant mineralization. We are especially excited to see the continuation of mineralization 30m on strike with our previous drill hole JES-20-36, which intersected 24.2m at 2.5 g/t Au and 73 g/t Ag. Pending assay results for the remaining drill holes will largely focus on our new target areas as we continue to unlock the potential of Pilar."
Results Discussion
JES-21-37 – The hole was planned to test a CSAMT resistivity anomaly that correlated with surface quartz veins. A 6.1m zone was intersected with 0.52 g/t AuEq (see Table 1). Followed by a second zone of 4.6m at 0.62 g/t AuEq . Consistent with surface observations and other drill holes in the area, copper values were elevated in this hole with one interval returning 1.5m at 1.1 g/t Au, 24 g/t Ag and 1.2% Cu .
JES-21-38 – The hole was planned to test the continuation of mineralization intersected in drill hole JES-20-36 and to test 25m up dip and further east of historic drill hole R-8, which intersected 40.4m at 1.4 g/t Au , including 3m at 10.9 g/t Au and 117 g/t Ag . Two zones of significant mineralization were intersected, 29m at 0.71 g/t Au and 24.4m at 0.56 g/t Au . Higher silver values were intersected in the deeper interval with a 3m zone grading 1.5 g/t Au and 34 g/t Ag .
JES21-39 – The hole was planned to test quartz veining and alteration recorded at surface to the west of the Main Zone which directly correlated with an IP anomaly. The hole was also planned to confirm the location of the regional fault bounded biotite granodiorite that lies to the west of the Main Zone. Anomalous gold values (0.18 to 0.47 g/t Au) were intersected in the andesite and granodiorite host rocks.
Figure 1. Cross-Section of Drill Hole JES-21-28
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Figure 2. Planview Map of Phase II Drill Program Update
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Table 1. Summary of Drill Results
Hole ID | From (m) | To (m) | Width* (m) | Au (g/t) | Ag (g/t) | AuEq (g/t) |
JES-21-37 | 59.48 | 65.58 | 6.10 | 0.48 | 4 | 0.52 |
and | 71.67 | 76.25 | 4.58 | 0.50 | 11 | 0.62 |
including | 71.67 | 73.20 | 1.53 | 1.13 | 24 | 1.39 |
JES-21-38 | 0.00 | 28.98 | 28.98 | 0.71 | 2 | 0.73 |
including | 0.00 | 3.05 | 3.05 | 2.59 | 2 | 2.62 |
also | 22.88 | 28.98 | 6.10 | 1.87 | 0 | 1.87 |
and | 67.10 | 91.50 | 24.40 | 0.56 | 6 | 0.62 |
including | 79.30 | 88.45 | 9.15 | 1.27 | 14 | 1.41 |
including | 83.88 | 86.92 | 3.04 | 1.51 | 34 | 1.87 |
JES-21-39 | 39.65 | 41.17 | 1.52 | 0.47 | 1 | 0.48 |
*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 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:
- 2020 Phase I RC Drilling Highlights include ( all lengths are drilled thicknesses ) :
- 94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;
- 41.2m @ 1.1 g/t Au, including 3.1m @ 6.0g/t Au and 12 g/t Ag ;
- 24.4m @ 2.5 g/t Au and 73 g/t Ag, including 1.5m @ 33.4 g/t Au and 1,090 g/t Ag
- 17,700m of Historic Core & RC drilling. Highlights include:
- 61.0m @ 0.8 g/t Au
- 16.5m @ 53.5g/t Au and 53 g/t Ag
- 13.0m @ 9.6 g/t Au
- 9.0m @ 10.2 g/t Au and 46 g/t Ag
Soil and Rock sampling results from undrilled areas indicate mineralization extends towards 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, 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.
Quality Assurance / Quality Control
RC chips were shipped for sample preparation to ALS Limited 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. Over limits for gold (>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. Over limit analyses for silver (>100 g/t) were re-assayed 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.
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) 668 7855 EXT 101
Email: dwood@tocvan.ca
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.
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