(TheNewswire)



Calgary, Alberta - TheNewswire - September 29, 2020. Tocvan Ventures Corp. (CSE:TOC) (CNSX:TOC.CN) (“Tocvan” or the “Corporation”) is pleased to announce several key observations and conclusions from recent technical studies focused on the identification of a Phase 1 program of drill-hole targets at the Pilar Gold-Silver Project in Sonora, Mexico.

 

As noted in previous press releases going back to January 7, 2020, the work completed on the Pilar Gold-Silver epithermal project has incorporated a variety of field programs, including geophysical surveys, rock and soil geochemical sampling, and structural analysis.

 

At the signing of the option agreement the Pilar property had a concentration of over 17,700m of drilling mainly in the north-west quadrant of the property with the majority of the hole depths reaching approximately 125m depth from surface, and some soil sampling spaced at a 100m on the east side of the property.

 

Results of work since November 2019 have revealed a gold-silver mineralized trend extending southeast from the main drilled area, a second parallel mineralized trend of gold and silver to the east of the drilled area, a new high-grade silver zone (East Zone), and results also show gold-silver mineralization extending across the property from north to south.

 

Data synthesis are currently underway to refine drill-hole targets. The process for drill hole permitting has begun, and Tocvan is currently entertaining quotes from drilling companies.

 

Gold-silver epithermal deposits are structurally controlled. To locate the structures containing the mineralization is a specialized process requiring skilled data analyses from proficient specialized professionals. To achieve high quality analyses various consulting firms were brought together to perform joint examinations; Jeremy S. Brett, M.Sc., P.Geo., Senior Geophysical Consultant with MPH Consulting Limited, Sandy M. Archibald, Ph.D., P.Geo. (PGO), Aurum Exploration Services (geochemistry), David Lewis, M.Sc., P.Geo. (PGO), consulting structural geologist, and Rodrigo Calles Montijo, Ing. Geo., CPG-QP , IMEx Servicios Geologicos. Rodrigo is based in Hermosillo and provides a full-service exploration consulting firm. The board of Tocvan would like to commend Mr. Calles-Mintijo for his sterling work and professionalism during a time of restricted travel and government ordered work shut downs resulting from our current world health crisis. We look forward to working with Rodrigo and his team during Tocvan’s upcoming maiden Pilar drill program.

 

Several significant conclusions from the joint effort of these geophysical, geochemical and structural specialists were made. One significant conclusion is the interpretation of a sub-vertical pipe-like feature that may represent a breccia feeder pipe related to epithermal mineralization. The pipe is ~100m in diameter, oval shaped, and has a steep plunge (~70°) to SSW with a 195° azimuth (Figures 1, 2, 3), and the pipe location appears to be controlled by a fold nose, based on interpreted basement folding. In relation to the epithermal model, breccia pipes are a significant feature and can hold bonanza grades (>1opt) of gold and silver. The pipes may extend from fissure veins that are known to contain significant grades of gold and silver in other epithermal deposits.

To date the work had located features in the 2-dimensional plane on the surface at the Pilar property. Results from further analyses provide a much better understanding of the vertical placement of the Pilar mineralized system in 3D space. The presence of silica caps were indicated based on geological mapping and interpretation of shallow soil geochemistry. It is recommended that these locations be drill-tested since gold mineralization might be present beneath these caps. Geophysical interpretation estimated that the silica caps extend to an approximate depth of 150m with a varying boundary/transition into the host rock.

   ------------------------------------------------------------------------------------------------ |  | | | | | | | | | | | |----------------------------------------------------------------------------------------------| |Click Image To View Full Size | | |  | | |Figure 1. Geochemical interpretation of shallow soil data (from Aurum Exploration Services).| | |  | | |Click Image To View Full Size | | |  | | |Figure 2. Interpretation of ground Induced Polarization data (MPH Consulting Ltd). | | ------------------------------------------------------------------------------------------------   

Note on Figure2. An Induced Polarization Resistivity Inversion depth slice at 325m ASL is shown, with interpretation notes. A significant NNW-SSE ~100m wide corridor is present as a strong resistivity low, and is coincident with much of the drilling performed on the property to date. It is interpreted as increased rock porosity related to an alteration corridor. Another resistivity low is present to the east of this, and takes the form of a discrete 100m diameter oval. Although visibly controlled by a NNE-SSW structure, it terminates abruptly and is interpreted as a potential epithermal feeder pipe. This is quite visible in the 3D inversion in Figure 3.

 


Click Image To View Full Size

 

Figure 3 - A 3D Inversion of the Induced Polarization Resistivity data (looking west from below). A discrete ~100m diameter oval pipe target is interpreted, bounded below only by the depth of investigation of the IP survey. It appears to dip to the SSW (azimuth 195°), with a steep plunge (~70°).

 

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

      - 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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