meter

Tocvan Drills 35.1 meters of 0.72 g/t AuEq in 100 meter Step-out East of the Main Zone at Pilar

 

(TheNewswire)

   

Calgary, Alberta - TheNewswire June 15, 2021 . TOCVAN Ventures Corp. ( CSE:TOC) (CNSX:TOC.CN) (" Tocvan " or the " Corporation ") is pleased to announce results for the next four drill 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 3,500 meters of reverse circulation (RC) drilling in twenty (20) drill holes. Results for four drill holes are included in this release, highlighted by drill hole JES-21-43 which returned 35.1 meters at 0.66 gt Au and 6 gt Ag (0.72 gt AuEq) . Thirteen (13) drill holes are pending assay results.

 

  Drill Result Highlights  

 

  JES-21-43   (Figure 1)  

 
  •  

      - 35.1 meters at 0.66 g/t Au and 6 g/t Ag (0.72 g/t AuEq)   from 97.6 to 132.7 meters  

     
    •  

        - Including   13.7 meters at 1.7 g/t Au   from 119 to 132.7 meters  

       

        - Including   3.1 meters at 6.8 g/t Au and 7 g/t Ag   from 119 to 122 meters  

       

        - Also Including an upper elevated Ag zone,   7.6 meters at 17 g/t Ag   from 97.6 to 105.2 meters  

       
    •  
  •  

  "JES-21-43 is a significant step-out to our Main Zone,   100-meters   east of our Phase I drill hole JES-20-32", commented VP 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   58m of 0.19 g/t Au   . (see Table 1). Results from drill holes JES-20-33 (41.2m at 1.14 g/t Au) and JES-13-15 (34.5m at 1.27 g/t Au) through the same area of the Main Zone intersected higher grade, but were drilled from the opposite direction to 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 50m down dip of drill hole JES-20-32, which returned 94.6m at 1.6 g/t Au. Several zones of anomalous gold were intersected including,   3m of 0.54 g/t AuEq   ,   4.6m of 0.43 g/t AuEq   ,   1.5m of 0.54 g/t AuEq   and near the bottom of the hole from 199.8 to 212m,   12.2m 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   1.5m at 0.46 g/t Au and 5 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 survey. An oxide zone with quartz veinlets was recorded from 41m depth to 93m followed by   several quartz veins in oxidized andesite from 93m to 130m   .   35.1m at 0.66 g/t Au and 6 g/t Ag   was drilled from 97.6m to 132.7m.   The interval is significant as it is spatially 100m to the east of drill hole JES-20-32 and historic drill hole JES-18-19   , both which returned grade above 0.75 g/t Au over wide intervals (see Figure 1).  

 

  Figure 1. Cross-Section of Drill Hole JES-21-43  

 

    
Click Image To View Full Size
 

 

 

 

   
Click Image To View Full Size

 

  Table 1. Summary of Drill Results  

 
                                                                                                  
 

Hole ID

 
 

From (m)

 
 

To (m)

 
 

Width* (m)

 
 

Au (g/t)

 
 

Ag (g/t)

 
 

AuEq (g/t)

 
 

JES-21-40

 
 

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/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   )   :  

     
    •  

        o   94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;  

       
    •  
    •  

        o   41.2m @ 1.1 g/t Au, including 3.1m @ 6.0g/t Au and 12 g/t Ag ;  

       
    •  
    •  

        o   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:  

     
    •  

        o   61.0m @ 0.8 g/t Au  

       
    •  
    •  

        o   16.5m @ 53.5g/t Au and 53 g/t Ag  

       
    •  
    •  

        o   13.0m @ 9.6 g/t Au  

       
    •  
    •  

        o   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:  

 

  TOCVAN Ventures Corp.  

 

  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.  

 

  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.  

 

Copyright (c) 2021 TheNewswire - All rights reserved.

 

News Provided by TheNewsWire via QuoteMedia

The Conversation (0)
Gold bars with text: "5 Top Canadian Mining Stocks This Week."

Top 5 Canadian Mining Stocks This Week: Avanti Gold Gains 158 Percent on Misisi Settlement

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

Statistics Canada released its June Labour Force Survey on Friday (July 11). The data indicated that 83,000 new jobs were added to the workforce, led by 34,000 new employees in the wholesale and retail trade category and a 17,000 worker rise in the healthcare and social assistance category.

In other positive news for the Canadian job market, the overall employment rate rose by 0.1 percent to 60.9 percent, while the unemployment rate declined by 0.1 percent to 6.9 percent.

Keep reading...Show less
Gold bar on nuggets with "5 Top Australian Mining Stocks" text overlay.

Top 5 Australian Mining Stocks This Week: Yandal Shares Double on Arrakis Drilling Results

Welcome to the Investing News Network's weekly round-up of Australia’s top-performing mining stocks on the ASX, starting with news in Australia's resource sector.

This week's top-performing stocks list is dominated by oil and gas companies, alongside gold and lithium companies.

In Australian mining news, the Fair Work Commission ruled that BHP (ASX:BHP,NYSE:BHP,LSE:BHP) must raise the wages of 2,200 workers at three coal mines in Queensland. The workers in question were employed indirectly through a hiring firm and were being paid significantly less than their peers working directly under BHP.

The case was brought by two worker's unions and based on the Same Job, Same Pay reforms made by the government last year. To align wages, the FWC ruled BHP must raise the labour hire employees' wages by AU$30,000 each.

Keep reading...Show less
Pilbara region, Western Australia, Australia.

Pilbara 2.0: Inside Australia’s Newest Gold Frontier

The Central Pilbara region of Western Australia is undergoing a quiet revolution that is rapidly reshaping the global gold exploration landscape.

Once dismissed as a technically challenging and geologically inconsistent terrain, Pilbara is now emerging as one of the world’s most exciting new gold frontiers and drawing serious attention from institutional investors, driven by transformative discoveries, a maturing geological model and a wave of junior explorers tapping into underexplored intrusive-hosted systems.

Anchored by the multimillion-ounce Hemi discovery — one of the most significant gold finds in Australia in over a decade — this region is not just proving its geological potential, but also demonstrating the kind of scale, consistency and margin profile that modern gold investors seek. As the discovery window remains wide open and valuations are still accessible, the Central Pilbara presents a rare opportunity for early exposure to what may become one of Australia’s next tier-one gold districts.

Keep reading...Show less
A mining truck within the outline of Australia's map on a clear day.

Is Australia on the Brink of a New Mining Super Cycle?

Mining remains as a cornerstone of Australia’s GDP and export earnings, but current global challenges such as trade disputes and price changes may be straining its foundations.

A recent FocusEconomics report tackled Australia’s resource wealth, tracing from the gold rushes of the 1850s to the iron ore and coal booms of the 21st century.

Keep reading...Show less
Kobo Resources Confirms Additional High-Grade Gold Mineralization at Kossou with 15.5 m at 2.3 g/t Au, incl. 8.3 m at 3.43 g/t Au; Outlines Next Phase of Exploration at Kossou

Kobo Resources Confirms Additional High-Grade Gold Mineralization at Kossou with 15.5 m at 2.3 g/t Au, incl. 8.3 m at 3.43 g/t Au; Outlines Next Phase of Exploration at Kossou

 
  •   High-grade gold intercepts highlighted by 15.5 m at 2.30 g/t Au, incl. 8.3 m at 3.43 g/t Au at the Road Cut Zone  
  •  
  •   Initial drilling on the gap between Jagger and Road Cut Zone confirms target structure, warrants further testing  
  •  
  •   Current drill phase complete; Geological modelling and planning underway for 15,000 m drill program expected to begin in H2 2025  
  •  

 

 Kobo Resources Inc. (" Kobo" or the " Company ") ( TSX.V: KRI ) is pleased to report additional diamond drill results from the Road Cut Zone at its 100%-owned Kossou Gold Project (" Kossou ") in Côte d'Ivoire. Results from these holes continue to strengthen the Company's understanding of the key structural controls that define this prospective target area.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×