The Conversation (0)
(TheNewswire)
Calgary, Alberta - TheNewswie July 29, 2021 . TOCVAN Ventures Corp. ( CSE:TOC) (CNSX:TOC.CN) (" Tocvan " or the " Corporation ") is pleased to announce final drill results from its Phase II drill program (the " Program ") at the Pilar Gold-Silver Project in Sonora, Mexico. A Phase II drill program was completed in June with over 3,500 meters of reverse circulation (RC) drilling in twenty (20) drill holes. Final results are included in this release, highlighted by drill hole JES-21-50 which returned 39.7 meters at 0.96 gt Au in a 50 meter step-out to the Main Zone on trend with drill hole JES-21-47 which intersected 47.3 meters at 0.75 gt Au . In addition, the first reconnaissance drill hole at the Triple Vein Zone (TVZ) was completed 400 meters to the east (JES-21-56) and was successful in intersecting mineralization at depth, returning 1.5 meters at 0.6 gt Au and 139 gt Ag .
Tocvan is now preparing plans for the next steps at Pilar which will include continued expansion drilling, exploration drilling at 4-Trench and TVZ and trenching followed by preliminary bulk sampling through key sections of the Main Zone.
Drill Result Highlights
JES-21-50 (Figure 1)
- 39.7 meters at 0.96 g/t Au and 2 g/t Ag from 39.7 to 79.3 meters
- Including 12.2 meters at 3.0 g/t Au and 6 g/t Ag from 39.7 to 51.9 meters
- Including 1.5 meters at 14.6 g/t Au and 11 g/t Ag from 48.8 to 50.3 meters
JES-21-56
- 1.5 meters at 0.57 g/t Au and 139 g/t Ag from 216.6 to 218.1 meters
"During our Phase I and II drill programs we have been extremely successful in steadily increasing the known size of our Main Zone.", commented VP Exploration, Brodie Sutherland. "JES-21-50 clearly shows the trend remains open to the southeast and we are excited to drill test this further later in the year. Beyond that we are seeing great indications that the Triple Vein Zone is developing into a new area for drill targeting. Surface sampling, mapping and geophysics are all aligned and with JES-21-56 intersecting mineralization at depth we are excited to see how this new trend can develop. "
Results Discussion
JES-21-50 – The hole was planned to test the continuation of the Main Zone to the southeast, as a 50m step-out to JES-21-47 which intersected 47.7m of 0.75 g/t Au. Drilling in JES-21-50 intersected a broad zone of mineralization in altered andesites over 39.7 meters of 0.96 g/t Au , including a vein zone grading 1.5 meters of 14.6 g/t Au and 11 g/t Ag (see Table 1). The Main Zone continues to extend to the southeast and remains open as an expansion target for the next phase of drilling.
JES-21-56 – The hole was planned to test the eastern most extent of the Triple Vein Zone where surface sampling recovered 4.5 g/t Au and 735 g/t Ag from a rock chip along an artisanal working. Drilling intersected a silver rich zone grading 0.57 g/t Au and 139 g/t Ag , 216.6 meters downhole. Hitting mineralization at depth now opens this target area up for further exploration drilling along the 400 meter trend .
Click Image To View Full Size
Figure 1. Planview Map of Phase II Drill Program Update.
Table 1. Summary of Today's Drill Results
Click Image To View Full Size
*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 950
736 – 6 th Avenue SW
Calgary, Alberta T2P 3TJ
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.
