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Calgary, Alberta - TheNewswire -August 25, 2020. Tocvan Ventures Corp. (CSE:TOC) (CNSX:TOC.CN) ("Tocvan" or the "Corporation") is pleased to announce initial results from the structural analysis at the Pilar Gold-Silver Project in Sonora, Mexico.
Major significant large structures ("plumbing") with significant depth extents containing additional structures favorable for gold-silver mineralization have been recognized on the property. These standout features cover a large area extending across the property from the NW to the SE.
Structural analyses have begun on the Pilar project incorporating all the data that has been collected to date. The goal is to establish drill targets to intercept grades similar to the high grades found in the historic hole S-10 of over 1.7oz/t gold and silver over an intercept of 16.5m located in the North Hill Zone (Figure 1b). Gold and silver are located within and about structures. Structures act as conduits or plumbing for metal-mineral-rich fluids to flow through and deposit.
The initial overview of the 3D inversion of magnetic susceptibility data has revealed stand-out significant major structures that are universally associated with "plumbing" systems for gold-silver fluid flow and deposition. It is important and key to note that epithermal-style mineralization, as with the Pilar project, rely on structure ("plumbing") in order to form a gold and silver deposit. Structures appear as shear zones, faults, brecciated rock, rotational gashes within shear zones and other such dilation structures. Where there are structures of expansion and other openings then heated gold-silver bearing fluids can deposit.
For a high quality analysis two consulting firms have come together to begin a joint examination; Marion Iseppi Ph.D. Structural Geologist with SRK Consulting (Canada) Inc., and Jeremy S. Brett, M.Sc., P.Geo., Senior Geophysical Consultant with MPH Consulting Limited.
SRK commented "SRK Consulting initiated a structural analysis of the Pilar property. A preliminary structural analysis of recently acquired Ground Magnetic and Induced Polarization (IP) data revealed several areas of structural complexity that usually represent high permeability zones as well as post mineral faults that displace the supergene profile, and which may constitute post-mineralization reactivation of important syn-mineralization structures." (Supergene is a mineral enrichment process that is known to deposit metals in higher contents as opposed to the primary ore).
There are several initial findings which include a major significant large structure trending NW-SE with approximate dimensions of 250m x 1000m with vertical extents measured in multiple 100's metres extending to surface (Figure 1a, 2), and bounded within this main structure corridor are additional structures trending N-S with approximate lengths of 300m (Figure 1a). Previous workers performing a structural overview described the NW-SE structure as a structural corridor holding a shear zone with rotational features. Such features provide excellent means of plumbing for metal-mineral-rich fluids to flow through and deposit.
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Figure 1a (top) Figure 1b (bottom).3D Inversion Magnetic Susceptibility slice at ~350m depth. NW-SE shear corridor with N-S structures bounded within, and, zones of mineralization (North Hill, Main, 4-Trench) outlined by over 17,700m of drilling.
Figures 1a and 1b show a plan view of a 3D Inversion Magnetic Susceptibility slice at ~350m depth and the full Voxel of the magnetic Inversion. Comparing Figure 1a with Figure 1b, the vast majority of the historic drilling has primarily been at shallow depths extending to ~125m in the Main Zone and the North Hill Zone (the location of the S-10 drill hole with over 1.7oz/t gold and silver over 16.5m).
There is clear opportunity to intercept mineralized targets extending to depth, consistent with an epithermal-model of mineralization with the very real possibility, and goal, of intercepting high grade gold and silver similar to the historic S-10 hole.
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Figure 2. 3D Inversion Magnetic Susceptibility. NW-SE shear corridor with N-S structures bounded within structures bounded within, at ~350m depth.
Derek Wood CEO commented " We are extremely enthusiastic that the work done at every stage of exploration since negotiating the option to acquire up to 100% interest in the Pilar propertyhas exceeded expectations and increased our understanding and the potential of the property both as having near term production capability and now as potential to host a world class discovery.
Previous drilling had identified a high grade system at surface in the Northwest area of the property known as the Main Zone. Upcoming drilling will be focused on expanding areas of known high grade gold and silver mineralization at surface within areas of previous drilling success and also will now test newly discovered 'at surface' zones and will include deeper drilling to test the mineralization within the newly identified IP anomaly. I would like to thank Mark Smethurst for his work in advancing exploration activity on time and on budget in spite of challenges created by the Covid-19 Pandemic. "
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 has been identified as a structurally controlled low-sulphidation epithermal project hosted in Andesite and Rhyolite rocks. Hydrothermal fluids carrying gold, silver and other minerals are transported through the pre-existing structures and deposit out of the fluids and become emplaced 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):
- 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 18.9 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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