(TheNewswire)



  

Calgary, Alberta – TheNewswire - January 7, 2020 - Tocvan Ventures Corp. (CNSX:TOC.CN) (“Tocvan” or the “Corporation”) reports high grade gold (Au) and silver (Ag) assay results at two new showings that significantly extend the known mineralization on the Pilar property. Among the assay results are values up to 9.3 g/t Au and 76.4 g/t Ag at the south-east part of the property, and up to 323 g/t Ag and 0.5 g/t Au midway along the property, the NW part of the property has seen extensive drilling (17,700+m’s) along the known NW-SE trend of mineralization.

Rock-grab-samples were collected as part of the due-diligence field survey of the Pilar property conducted this past November, Tocvan Ventures has entered into a property option agreement with Colibri Resources for the 100% acquisition of the Pilar property in the state of Sonora, Mexico. The surface rock-grab samples were collected in order to locate the source of the high grade soil sample results from previous operators. Additional rock-grab samples were collected in the extensively drilled area of the property at the North Hill Zone and Main Zone in the north-west to confirm surface mineralization above the historic drill-intercepts, refer to the tables and map below.

The assay results are very encouraging and provide new areas to potentially develop and define additional mineralization east and south-east of the main area of drilling of the North Hill Zone, Main Zone, and 4-Trench Zone.

Having significant assay results across the Pilar property from the north to the south along the NW-SE mineralized trend is very encouraging for expanding the known mineralization.

Another success was on a check of the S-10 drill intercept from the mid 1990’s which returned 53.47 g/t Au and 53.4 g/t Ag over 16.5m. The drill intercept location was estimated and then projected to surface where a dark red hematite sheared outcrop was located, uncovered and sampled, among the assay returns is 3.8 g/t Au and 57.4 g/t Ag showing mineralizing fluid flow in the structures.

35 samples were sent for assay, four of which were QA-QC samples (sample #’s 15,16,31,32). Significant results were found in 22 samples, see below for the map and table.

Table 1: Significant results as seen in the map.

---------------------------------------- |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| ----------------------------------------  


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Figure 1. Plan view map showing the new target areas and results from surface rock-grab sampling.

 

Samples were assayed for Au and a suite of 33 elements. The samples included quality control checks appropriate for exploration stage programs. Rock samples are selective in nature and do not represent uniform mineralization across the property. Samples were sent to the ALS Geochemistry laboratories in Hermosillo, Sonora. Rock samples were analyzed using inductively coupled plasma (ICP) for gold on a 50g pulp split (ALS Code: Au-ICP22) and ICP (ALS Code: ME-MS61) for 33 elements. Locations of samples were collected by handheld GPS.

The target elements (gold and silver) and other significant results (copper and lead) have been presented here. Below are all 35 samples submitted for assay.

Table 2. Complete results from due-diligence survey

-------------------------------------------- |North Hill Zone |  |  |  |  | |------------------------------------------| |Sample # |Au g/t|Ag g/t|Cu % |Pb % | |------------------------------------------| |PILAR-MTS-01 |0.3 |4.5 |0.399|0.005| |------------------------------------------| |PILAR-MTS-02 |0.9 |14.3 |0.261|0.003| |------------------------------------------| |PILAR-MTS-03 |1.3 |5.4 |0.338|0.002| |------------------------------------------| |PILAR-MTS-04 |0.2 |5.8 |0.251|0.003| |------------------------------------------| |PILAR-MTS-05 |0.8 |12.7 |0.129|0.002| |------------------------------------------| |PILAR-MTS-06 |3.2 |8.3 |0.350|0.001| |------------------------------------------| |PILAR-MTS-07 |0.1 |5.3 |0.933|0.002| |------------------------------------------| |PILAR-MTS-08 |0.2 |2.9 |0.190|0.007| |------------------------------------------| |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-17 |0.2 |1.2 |0.010|0.003| |------------------------------------------| |PILAR-MTS-18 |0.3 |1.3 |0.008|0.003| |------------------------------------------| |PILAR-MTS-19 |0.8 |1.7 |0.013|0.008| |------------------------------------------| |PILAR-MTS-35 |2.2 |3.5 |0.179|0.008| |------------------------------------------| |  |  |  |  |  | |------------------------------------------| |"A" map location|  |  |  |  | |------------------------------------------| |Sample # |Au g/t|Ag g/t|Cu % |Pb % | |------------------------------------------| |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| |------------------------------------------| |  |  |  |  |  | |------------------------------------------| |"D" map location|  |  |  |  | |------------------------------------------| |Sample # |Au g/t|Ag g/t|Cu % |Pb % | |------------------------------------------| |PILAR-MTS-23 |0.0 |0.8 |0.002|0.009| |------------------------------------------| |  |  |  |  |  | |------------------------------------------| |  |  |  |  |  | |------------------------------------------| |"C" map location|  |  |  |  | |------------------------------------------| |Sample # |Au g/t|Ag g/t|Cu % |Pb % | |------------------------------------------| |PILAR-MTS-24 |0.0 |0.6 |0.001|0.002| |------------------------------------------| |PILAR-MTS-25 |0.5 |323.0 |0.016|0.242| |------------------------------------------| |  |  |  |  |  | |------------------------------------------| |"B" map location|  |  |  |  | |------------------------------------------| |Sample # |Au g/t|Ag g/t|Cu % |Pb % | |------------------------------------------| |PILAR-MTS-26 |1.4 |2.4 |0.002|0.013| |------------------------------------------| |PILAR-MTS-27 |2.2 |14.7 |0.012|0.259| |------------------------------------------| |PILAR-MTS-28 |0.3 |2.2 |0.001|0.007| |------------------------------------------| |  |  |  |  |  | |------------------------------------------| |"E" map location|  |  |  |  | |------------------------------------------| |Sample # |Au g/t|Ag g/t|Cu % |Pb % | |------------------------------------------| |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| --------------------------------------------

About the Pilar Property

The Pilar Gold-Silver property is a low-sulphidation epithermal project hosted in Andesite and Rhyolite rocks. Three zones of mineralization have been identified 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

 

The technical information in this news release 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 10.8 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 opportunities 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: 403-668-7855       

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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