Good update and overview of Phase 1 drilling results in the context of historical drilling. Looks like they have a plan moving forward for trenching, bulk sample and Phase 2 drilling with permits in place. Playing these low number of share plays, in particular one that has undergone a year of share consolidation in both Canada and Germany, it is like waiting for paint to dry before applying the second coat. But all the time knowing once the painting is finished, the room will look great. It has been over a year and overall great progress. I suspect they need to raise some money here, and that combined with exercise of warrants, we should be off to the races later in the fall. Patience is not only important, it is imperative if you want to see the big gains. But of course, all of this hinges on TOC delivering the goods. The bulk sample is important as it will lead to the 43-101 resource statement, I can't wait to see this step.
2021-08-26 07:01 ET - News Release
Mr. Brodie Sutherland reports
TOCVAN PROVIDES SUMMARY OF PHASE II DRILL PROGRAM AND OUTLINES NEXT STEPS FOR PILAR PROJECT
Tocvan Ventures Corp. has provided a summary from its phase 2 drill program at the Pilar gold-silver project in Sonora, Mexico. A phase 2 drill program was completed in June with over 3,500 metres of reverse circulation (RC) drilling in 20 drill holes. Drilling was successful in three key target areas: (1) Main zone expansion, 30 m to the northwest and a total of 150 m to the southeast; (2) 4-Trench zone, definition of a new mineralized trend over a 500 m strike, parallel to the Main zone; (3) Triple vein zone, one hole drilled, intersected a narrow silver-rich zone with gold. Results for the phase 2 program are encouraging and warrant further drill definition to continue to expand the know areas of gold-silver mineralization at Pilar, highlights from the phase 2 program are summarized below.
Tocvan plans to initiate its next phase of exploration with the start of a trenching program in October of this year. Trenches will be used to better define surface mineralization and provide material for initial bulk sampling. Immediately following trenching a phase 3 drill program of a similar scope to phase 2 will continue the advancement of the project. The project is permitted to complete the planned trench and drill programs.
Phase 2 drill highlights
Main zone
JES-21-38 -- 30 m northwest of phase 1 stepout JES-20-36:
- 29.0 metres at 0.71 gram per tonne gold and two g/t silver (0.73 gold equivalent) from surface to 29.0 metres:
- Including 3.1 metres at 2.6 g/t Au from surface to 3.1 metres;
- Also including 6.1 metres at 1.9 g/t Au from 22.9 to 29.0 metres;
- And 24.4 metres at 0.56 g/t Au from 67.1 to 91.5 metres;
- Including 9.2 metres at 1.3 g/t Au and 14 g/t Ag from 79.3 to 88.5 metres.
JES-21-43 -- 100 m east of phase 1 JES-20-32:
- 35.1 metres at 0.66 g/t Au and six g/t Ag (0.72 g/t AuEq) from 97.6 to 132.7 metres:
- Including 13.7 metres at 1.7 g/t Au from 119 to 132.7 metres;
- Including 3.1 metres at 6.8 g/t Au and seven g/t Ag from 119 to 122 metres.
JES-21-47 -- 100 m southeast of phase 1 JES-20-32:
- 47.3 metres at 0.70 g/t Au and five g/t Ag (0.80 g/t AuEq) from surface to 47.3 metres:
- Including 12.2 metres at 1.1 g/t Au and 12 g/t Ag from surface to 12.2 metres;
- Also 19.8 metres at 0.94 g/t Au and 6.6 g/t Ag from 27.5 to 47.3 metres;
- Including 3.1 metres at 5.6 g/t Au and 22 g/t Ag from 44.2 to 47.3 metres.
JES-21-50 -- 50 m southeast of JES-21-47:
- 39.7 metres at 0.96 g/t Au and two g/t Ag from 39.7 to 79.3 metres:
- Including 12.2 metres at 3.0 g/t Au and six g/t Ag from 39.7 to 51.9 metres;
- Including 1.5 metres at 14.6 g/t Au and 11 g/t Ag from 48.8 to 50.3 metres.
4-Trench zone
JES-21-53:
- 15.3 metres at 1.1 g/t Au and two g/t Ag from 36.6 to 51.9 metres:
- Including 4.6 metres at 2.4 g/t Au and three g/t Ag from 41.2 to 45.8 metres;
- Including 1.5 metres at 4.6 g/t Au and three g/t Ag from 42.7 to 44.2 metres.
Triple vein zone
JES-21-56:
- 1.5 metres at 0.57 g/t Au and 139 g/t Ag from 216.6 to 218.1 metres.
About the Pilar property
The Pilar gold-silver property is interpreted as a structurally controlled low-sulphidation epithermal project hosted in andesite rocks.
Three zones of mineralization have been identified in the northwest 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 northwest-southeast trend of mineralization. Over 19,200 m of drilling have been completed to date. Significant results are highlighted below.
- 2020 phase 1 RC drilling highlights include (all lengths are drilled thicknesses):
- 94.6 m at 1.6 g/t Au, including 9.2 m at 10.8 g/t Au and 38 g/t Ag;
- 41.2 m at 1.1 g/t Au, including 3.1 m at 6.0 g/t Au and 12 g/t Ag;
- 24.4 m at 2.5 g/t Au and 73 g/t Ag, including 1.5 m at 33.4 g/t Au and 1,090 g/t Ag.
- 17,700 m of historic core and RC drilling. Highlights include:
- 61.0 m at 0.8 g/t Au;
- 16.5 m at 53.5 g/t Au and 53 g/t Ag;
- 13.0 m at 9.6 g/t Au;
- 9.0 m at 10.2 g/t Au and 46 g/t Ag.
Soil and rock sampling results from undrilled areas indicate mineralization extends toward the southeast from the Main zone and 4-Trench zone. Recent surface exploration has defined three new target areas: Triple vein zone, SE vein zone and 4-Trench extension.
Brodie A. Sutherland, PGeo, vice-president of exploration for Tocvan Ventures and a qualified person (QP) as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.
Quality assurance/quality control
RC chips were shipped for sample preparation to ALS Ltd. in Hermosillo, Sonora, Mexico, and for analysis at the ALS laboratory in North Vancouver. The ALS Hermosillo and North Vancouver facilities are International Organization for Standardization 9001 and International Organization for Standardization/International Electrotechnical Commission 17025 certified. Gold was analyzed using 50-gram nominal weight fire assay with atomic absorption spectroscopy finish. Overlimits for gold (over 10 g/t) were analyzed using fire assay with a gravimetric finish. Silver and other elements were analyzed using a four-acid digestion with an ICP (inductively coupled plasma) finish. Overlimit analyses for silver (over 100 g/t) were reassayed using an ore-grade four-acid digestion with ICP-AES (inductively coupled plasma atomic emission spectroscopy) finish. Control samples comprising certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the company's robust quality assurance/quality control protocol.
About Tocvan Ventures Corp.
Tocvan is a well-structured exploration development company. Tocvan was created in order to take advantage of the prolonged downturn in the junior mining exploration sector, by identifying and negotiating interest in opportunities where management feels it can build upon previous success. Tocvan currently has approximately 28 million shares outstanding and is earning into two exciting opportunities: the Pilar gold-silver project in Sonora, Mexico, and the Rogers Creek copper project in Southern British Columbia. Management feels both projects represent tremendous opportunity to create shareholder value.