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Calgary, Alberta - TheNewswire March 04, 2021 . TOCVAN Ventures Corp. ( CSE:TOC) (CNSX:TOC.CN) (" Tocvan " or the " Corporation ") is pleased to provide an update on exploration at its flagship Pilar Gold-Silver Project. Work completed to date includes detailed mapping and sampling of key targets across the Project Area (Figure 1). The aim of the program is to advance key targets to drill ready status for a Phase II drill program. 150 rock chip samples have been collected to date, covering 60% of the property. Work will continue for the next two weeks followed by final planning for the next phase of drilling.
"We are very pleased with how rapidly our geologists are able to cover the area at Pilar," commented VP Exploration, Brodie Sutherland. "Historic drilling and mapping focused on the Main Zone, our geologists are now mapping and sampling beyond the Main Zone to help define our next drill targets. Among other targets, the 4 Trench Trend shows great potential with historic adits and shafts extending for over 350 meters, this is further backed by a trend of anomalous soils and rock samples that include 24 g/t Au and 172 g/t Ag. The overall trend continues to the southeast for 1,200 meters and to date has only been evaluated with reconnaissance soil and rock sampling. The potential to expand the area of known mineralization along strike and at depth at Pilar is excellent and we are excited to continue to advance the Project."
Summary of Key Target Areas:
Main Zone Extension
- - 800 meter southeast extension of the Main Zone
- - Historic drillhole JES-18-03 13.5 m @ 5.6 g/t Au and 22 g/t Ag - 800 meters of anomalous soils with values ranging from 106 ppb to 911 ppb Au - Rock grab samples including 9.3 g/t Au and 76 g/t Ag
4-Trench
- - 600 meter trend that includes the 4-Trench Zone highlighted by:
- - Historic drillhole K-16: 7.5 m @ 3.3 g/t Au and 31 g/t Ag - 600 meters of anomalous soils with values ranging from 118 ppb to 2,030 ppb Au - 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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Photo 1. Geologists Overlooking the Pilar Property.
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Photo 2. Geologists sampling along mineralized corridors that include historic adits and shafts.
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:
- - 17,700m of Historic Core & RC drilling. Highlights include ( all lengths are drilled thicknesses ):
- - 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
- - 55 g/t Au over 3 m - 28.6 g/t Au over 6 m - 3.4 g/t Au over 50 m
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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Table 1 – Kirgella Gift and Providence Mineral Resource at a 0.5 g/t gold cut-off Note totals may not sum due to rounding.
Figure 1: Regional Map with locations of Sifang licenses.