Calgary, Alberta – March 31st, 2020. Tocvan Ventures Corp. (CSE: “TOC”) (“Tocvan” or the “Corporation”) is pleased to announce the commencement of the 2020 field program at the Pilar Gold-Silver Project in Sonora, Mexico.
The objectives of the program are:
1. Expand the known areas of mineralization;
2. Refine linear structural features that control mineralization emplacement;
3. Identify new mineralization targets;
4. Define targets for drill testing.
TMC Exploration has been retained to undertake the multiple-task geophysical survey. Work has begun as of March 21. The results will be combined with multiple other distinct surveys.
Close-spaced soil sampling will proceed concurrently with the geophysical survey program. Previous soil sampling results at 100m spacing worked very well to identify mineralization targets and provide directional trends of mineralization. Closer-spaced soil sampling will be used to help refine linear mineralized structures in conjunction with other survey tools.
These surveys will be followed with forthcoming additional surveys of structural geology (specialist structural geologist), and XRF survey of samples across the property and of historic drill hole samples held in storage, and make up Phase 1 of 2. The XRF will collect data to identify elements and their amounts. This will assist in identifying alteration minerals and pathfinder elements, knowing the intensity of alteration minerals and their location will help to define linear mineralized structural features that contain gold and silver.
Note that the Pilar property has been identified as a structurally controlled epithermal gold-silver property. 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. Alteration minerals help to identify the location and direction of the structural features containing the gold and silver.In addition, pre-existing data from historic drill holes and the assayed gold and silver results from those holes will be included as part
of the collected data to identify the structural features that contain the gold-silver mineralization.
The results of Phase 1 surveys will be combined with pre-existing data and together help to create a structural mineralization model to
identify drill targets for the Phase 2 campaign. Drilling is expected in late summer to early fall of 2020, and may be delayed due to
continued travel restrictions related to the current global health crisis.
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. Isolation is an inherent part of mineral development programs. Currently, a geophysics crew is performing work on the Pilar property in Mexico, and a soil-sampling program is also underway. The geophysics crew have been working in isolation in remote areas as a group to themselves. The soil-sampling crew are a small group of family members who live together as a group to themselves.
Forthcoming work surveys are budgeted, planned and ready to execute. These surveys will remain on hold until health leaders change their advisements.
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 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):
o 0.73g/t Au over 40m
o 0.75g/t Au over 61m
o 17.3g/t Au over 1.5m
o 5.27g/t Au over 3m
o 53.47g/t Au & 53.4g/t Ag over 16m
o 9.64g/t Au over 13m
o 10.6g/t Au & 37.8g/t Ag over 9m
• 2,650m of surface and trench channel sampling. Highlights include:
o 55g/t Au over 3m
o 28.6g/t Au over 6m
o 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 %|
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 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 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 – 7
th Avenue SW
Calgary, Alberta T2P 3H6
Telephone: (403) 200-3569
Email: [email protected]
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.