Calgary, Alberta - TheNewswire - December 8, 2020 - Tocvan Ventures Corp. (CSE:TOC) (CNSX:TOC.CN) (“Tocvan” or the “Corporation”) is pleased to provide an update for its maiden drill program (the “Program”) at the Pilar Gold-Silver Project in Sonora, Mexico. Phase I of the Program plans for up to 1,500 meters of reverse circulation (RC) drilling utilizing one drill rig at the Pilar Main Zone.
Field crews were able to mobilize so rapidly to start drilling and have already completed 400 meters of the Program in three (3) drillholes. Assay results for the Program are expected early in the New Year. The Phase I program will provide important structural information for defining drill targets along the main mineralized trend and across the deep seated feeder-pipe like structures interpreted from geophysics. As the Corporation looks to continue the advancement of the Pilar Project, a Phase II drill program to test these targets is planned for early 2021.
“The ability to quickly mobilize equipment and field crews to Pilar is a testament to the strong team we have here in Mexico,” commented President and CEO Derek Wood. “After visiting the site this past week, I am very happy with the progress to date and look forward to continued exploration at Pilar. Tocvan is excited to lead the advancement of Pilar and would like to thank all of the field crews for their efforts.”
VP Exploration, Brodie Sutherland was recently interviewed by Steve Darling at Proactive Investors, a link to the video can be found here: Tocvan Venture updates drill program at Pilar Project as they continue to look at Main Zone - YouTube (proofpoint.com)
Photo 1. RC Drill Rig operating at the Pilar Gold-Silver Project.
Photo 2. RC Drill Rig operating at the Pilar Gold-Silver Project.
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. Hydrothermal fluids carrying gold, silver and other elements are transported through the pre-existing structures and precipitate from the fluids to become mineralized veins within the structures and surrounding host rock. 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 17,700m of drilling have been completed to date. Significant results are highlighted below from previous operators:
- 17,700m of Core & RC drilling. Highlights include (all lengths are drilled thicknesses):
- 0.73g/t Au over 40m
- 0.75g/t Au over 61m
- 17.3g/t Au over 1.5m
- 5.27g/t Au over 3m
- 53.47g/t Au & 53.4g/t Ag over 16m
- 9.64g/t Au over 13m
- 10.6g/t Au & 37.8g/t Ag over 9m
- 2,650m of surface and trench channel sampling. Highlights include:
- 55g/t Au over 3m
- 28.6g/t Au over 6m
- 3.39 g/t Au over 50m
- Soil sampling results from undrilled areas indicating mineralization extends towards the southeast from the Main Zone, North Hill Zone, and 4-Trench Zone
Figure 1. 3D Inversion processed from Induced Polarization (IP) geophysics survey showing interpreted feeder-pipe structures.
Additional areas of mineralization have been identified from surface rock-grab-sample assay results that extend known mineralized trends and show a second NW-SE trend of mineralization to the east parallel to the trending zone described above; gold-silver mineralization is indicated across the property from the north to the south, see press release dated January 7, 2020.
Figure 2. Results from 2020 Surface Sampling at Pilar Au-Ag Project. Showing existing zones and trends of mineralization, along with the recently discovered East Zone of mineralization showing high grade silver.
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 24.5 million shares outstanding and is earning into two exciting opportunities. The Pilar Gold project in the Sonora state of 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:
TOCVAN VENTURES CORP.
Derek A. Wood, President and CEO
Suite 1150 Iveagh House,
707 – 7th Avenue SW
Calgary, Alberta T2P 3H6
Telephone: (403) 200-3569
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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