(TheNewswire)



 

Calgary, Alberta - TheNewswire – October 26, 2020 - Tocvan Ventures Corp. (CSE:TOC) (CNSX:TOC.CN) (“Tocvan” or the “Corporation”) is pleased to announce drill targets for the next phase of the development program at the Pilar Gold-Silver Project in Sonora, Mexico. Drill permitting is underway and is pending.

 

Successes have been achieved from the Phase 1 target generating program over the past six months to locate targets for drill testing. MPH Consulting Limited, and SRK Consulting (Canada) Inc. have completed the structural analyses on the Pilar Property in Mexico. High grade gold and silver are located within and controlled by structures such as faults, intersecting faults, and dilated structures.

 

Results from the study show deep penetrating sub-vertical north-trending structures found within the northwest trending structural shear corridor. Gold and silver mineralization correspond with north-trending structures and are bounded within the northwest trending shear zone. The north-trending faults are extensional features that can be interpreted as en-echelon (dilational) structures. These dilational faults have an approximate length of 300m, extend from surface to an approximate depth of 600m, and are repeating structures within the northwest trending large shear corridor across the property for at least 1,000m. Additional drill targets, where gold values are also controlled, are at the intersections of north-trending faults with northwest-trending shear structures. These intersections are often areas of weaknesses, dilated, and present as pockets and chutes.

 

The north-trending extensional structures (en echelon) are dominant features becoming more conspicuous with depth and likely acted as the plumbing system for the mineralized hydrothermal fluids. These structures start to become more discernible at 250m below surface with increasing clarity approaching 600m below surface. Figures 1 and 2 show depth slices at 400m and 600m below surface. Note the blue features in Figures 1 and 2, these are magnetic lows representing the north-trending extensional structures within the northwest trending shear corridor. Also note in press release dated Sept. 29, 2020 the additional target of the near/at-surface pipe-structure discovery (Figure 3) and its correlation with the middle north-trending structure (blue, white-dashed line) in Figure 1. Pipe-structures are features formed in areas of weakness, ie. intersecting faults, and have the possibility of containing high grade gold and silver. Note in press release dated Oct. 15, 2020 the spatial correlation of the recently identified high grade silver East Zone with an interpreted pipe-feature from geochemistry analyses.

 

According to the epithermal model which draws comparisons from epithermal deposits from around the world, high grade gold and silver including bonanza grades (> 1opt gold) have commonly been found at depths of 250m to as far as 800m below surface (Corbett, C., Leach, T., 1997). Those high grade intercepts have been found within large vein structures, fissures, pipe-structures, and other extensional (dilation) structures. The target generating work completed over the past 6 months have revealed structures amenable to possessing high grade mineralization consistent with the low-sulphide epithermal model.

 

Results from the structural study reinforce a previous recent study (press release Sept. 29, 2020) based on geochemistry of locating the epithermal gold-silver system vertically in space, this is key in estimating the depth to intercept high grade gold and silver. Highly silicified rocks trend northwest – southeast and have a spatial correlation to northwest- southeast trending faults. These silica caps (silica sinters) are located in the Main Zone and North Hill Zone and are believed to have thicknesses of at least 150m. Silica sinters are indicative of the paleo-surface (the original surface at the time of emplacement), it is the surface expression of the hydrothermal system. According to the epithermal model, it is not uncommon for highly silicified areas to contain leakage anomalies of mineralization, from which, is an indicator of higher grade mineralization deeper down in an epithermal gold-silver system beneath the silica caps. From comparisons of epithermal deposits from around the world, high grade gold and silver have commonly been found at depths of 250m to as far as 800m below the paleo-surface (Corbett, C., Leach, T., 1997).

 

Reference:

Corbett, G.J., and Leach, T.M., 1997, Southwest Pacific Gold-Copper Systems: Structure, Alteration and Mineralization: Short Course Manual.


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Figure 1. 3D Inversion Magnetic Susceptibility slice at ~600m below surface (MPH Consulting Ltd) (SRK Consulting (Canada) Inc.).

 


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Figure 2. 3D Inversion Magnetic Susceptibility slice at ~400m below surface (MPH Consulting Ltd) (SRK Consulting (Canada) Inc.).


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Figure 3. Interpretation of ground Induced Polarization data (MPH Consulting Ltd).

Special Note:

The current world health situation requires adjustments to work programs, health and safety is considered first.

Current health advice is for families and groups to self-isolate and to use caution with suggested recommendations from health leaders when social-distancing becomes a challenge. Countries are beginning to allow businesses to operate again. Isolation is an inherent part of mineral development programs.

 

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

    • oo- 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

Additional areas of mineralization have been identified resulting 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. Significant results from that particular survey are highlighted below:

  ---------------------------------------- |Sample # |Au g/t|Ag g/t|Cu % |Pb % | |--------------------------------------| |PILAR-MTS-02|0.9 |14.3 |0.261|0.003| |--------------------------------------| |PILAR-MTS-03|1.3 |5.4 |0.338|0.002| |--------------------------------------| |PILAR-MTS-05|0.8 |12.7 |0.129|0.002| |--------------------------------------| |PILAR-MTS-06|3.2 |8.3 |0.350|0.001| |--------------------------------------| |PILAR-MTS-09|0.2 |2.2 |1.255|0.005| |--------------------------------------| |PILAR-MTS-10|0.9 |17.2 |0.734|0.010| |--------------------------------------| |PILAR-MTS-11|3.8 |57.4 |0.846|0.005| |--------------------------------------| |PILAR-MTS-12|0.0 |5.6 |1.910|0.001| |--------------------------------------| |PILAR-MTS-13|0.0 |12.9 |0.946|0.001| |--------------------------------------| |PILAR-MTS-14|0.1 |3.3 |1.400|0.001| |--------------------------------------| |PILAR-MTS-19|0.8 |1.7 |0.013|0.008| |--------------------------------------| |PILAR-MTS-20|5.6 |84.2 |0.088|1.710| |--------------------------------------| |PILAR-MTS-21|0.7 |20.3 |0.027|0.185| |--------------------------------------| |PILAR-MTS-22|9.3 |76.4 |0.120|2.150| |--------------------------------------| |PILAR-MTS-25|0.5 |323.0 |0.016|0.242| |--------------------------------------| |PILAR-MTS-26|1.4 |2.4 |0.002|0.013| |--------------------------------------| |PILAR-MTS-27|2.2 |14.7 |0.012|0.259| |--------------------------------------| |PILAR-MTS-29|4.3 |172.0 |0.086|1.125| |--------------------------------------| |PILAR-MTS-30|23.7 |116.0 |0.089|0.040| |--------------------------------------| |PILAR-MTS-33|4.4 |44.5 |0.109|0.036| |--------------------------------------| |PILAR-MTS-34|7.5 |41.9 |0.044|0.022| |--------------------------------------| |PILAR-MTS-35|2.2 |3.5 |0.179|0.008| ----------------------------------------   

The technical information in this news release pertaining to geological data and its interpretation has been prepared by Mark T. Smethurst, P.Geo., COO, Director of the Company, and a “qualified person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

 

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 17.7 million shares outstanding and is earning into two exiting 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       

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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