Tocvan Releases El Picacho Surface Results Identifying Undrilled Au-Ag Target Zone Over 450-meter Trend Highlighted By: 7.2 g/t Au and 36 g/t Ag; 4.5 g/t Au and 197 g/t Ag; and 3.3 g/t Au and 67 g/t Ag.
Calgary, Alberta – TheNewswire - July 6, 2022 Tocvan Ventures Corp. (the “Company”) (CSE:TOC); (OTC:TCVNF); (FSE:TV3), is pleased to announce surface sample results from its El Picacho Au-Ag Project in Sonora, Mexico. A surface exploration program has been ongoing since April. At the Murcielago Prospect, a total of 65 samples were collected with 14 samples returning values greater than 0.1 g/t Au (Table 1). Sampling defined a new target area yet to be drilled. The Murcielago Prospect has been confirmed and expanded with Au-Ag values (7.2 g/t Au and 36 g/t Ag) hosted within a brecciated dolomitic limestone unit along a 450-meter west-southwest trend. Significant lead and zinc mineralization is noted to occur along with gold and silver within the prospect area (4.5 g/t Au, 197 g/t Ag, 4.8% Pb and 7.1% Zn). Murcielago Prospect is the only mineral occurrence on the El Picacho property identified to date hosted within Jurassic aged sedimentary rocks. Historic artisanal workings are present following high-grade mineralization from surface in shafts (Plate 1).
Surface Highlights
Murcielago
450-meter trend of gold-silver hosted in a brecciated dolomitic limestone, highlighted by:
7.2 g/t Au, 36 g/t Ag and 4.4% Pb
4.5 g/t Au, 197 g/t Ag, 4.8% Pb and 7.1% Zn
3.3 g/t Au, 67 g/t Ag and 1.6% Pb
2.7 g/t Au, 25 g/t Ag and 1.9% Zn
Historic Murcielago Results, highlighted by:
15.1 g/t Au, 18 g/t Ag and 2.9% Pb
13.8 g/t Au, 83 g/t Ag and 1.7% Pb
8.8 g/t Au, 234 g/t Ag and 4.6% Pb
“The results from our recent surface exploration program have confirmed another untested drill target at El Picacho.”, commented CEO, Brodie Sutherland. “The Murcielago Prospect is one of six key target areas at El Picacho that has seen little to no drilling. The consistent mineralization seen across a 450-meter trend coupled with high-grade historic results along old shafts, makes Murcielago an additional compelling drill target as we look to unlock the potential of the project. Sonora is well known for cost-effective mines that can operate open pits with grades below 0.5 g/t Au with very favourable production costs. Seeing this broad low-grade mineralization and higher-grade within gives us a lot of confidence in the potential we have here.”
Update on Pilar Drill Program
As part of the ongoing Phase III drill program, a total of four reverse circulation (“RC”) drill holes have been completed since the program restarted on June 22nd, totalling 796-meters. Drilling completed to date has focused on the 4-T Expansion and Extension targets. Samples for the first two drill holes have been submitted to the lab for analysis. Samples for the other two completed holes will be submitted later this week. Results are pending. As drilling continues, follow-up drilling on the new Discovery Trend is planned next for targeting.
Table 1. Select Surface Exploration Program Results, Murcielago Prospect.
Grab samples are selective in nature and may not be representative of broader mineralized zones.
Plate 1. Historic Artisanal Shaft, Murcielago Prospect.
Figure 2. Plan Map Highlighting the Surface Exploration Program Results, Murcielago Prospect.
About the El Picacho Property
The El Picacho Gold-Silver property is interpreted as an orogenic gold system within the regional Caborca Orogenic Gold Belt known for producing gold mines that include La Herradura and San Francisco. The project is 140 kilometers north of Hermosillo and totals 2,414 hectares. Mineralization has been identified across the property totalling over six kilometers of prospective trends. Surface sampling has identified high-grade gold and silver values.
Primary target areas are summarized below:
San Ramon
1.4 km prospective trend;
Several historic mine workings associated with low angle faults;
Historic Drill Highlights (Both were reconnaissance holes with no follow-up):
(Drill hole PD-01) 7.6m @ 0.73 g/t Au, including 3.0m @ 1.37g/t Au
(Drill hole RCP-02) 10.7m @ 0.67 g/t Au, including 4.6m @ 1.4 g/t Au
Rock Sampling highlights:
22 g/t Au and 22 g/t Ag
16 g/t Au and 26 g/t Ag
14 g/t Au and 83 g/t Ag
Cornea
2.3 km prospective trend;
Historic mine workings up to 30-meters deep along shear-zones;
Rock Sampling Highlights:
26 g/t Au and 340 g/t Ag
15 g/t Au and 66 g/t Ag
15 g/t Au and 29 g/t Ag
Jabali
0.5 km prospective trend ;
Historic mine workings among low-angle thrust faults;
Rock Sampling Highlights:
32 g/t Au
28 g/t Au and 10 g/t Ag
El Puerto
1.2 km prospective trend ;
Historic mine workings along vertical shear-zones hosted within a banded gneiss;
Rock Sampling Highlights:
8 g/t Au and 10 g/t Ag
6.5 g/t Au and 176 g/t Ag
Tortuga
1.0 km prospective trend;
Historic mine workings in Jurassic metasediments surrounded by mineralized biotite gneiss;
Rock Chip Sampling Highlights:
2m @ 4.4 g/t Au and 46 g/t Ag
Quality Assurance / Quality Control
RC chips were shipped for sample preparation to ALS Limited in Hermosillo, Sonora, Mexico and for analysis at the ALS laboratory in North Vancouver. The ALS Hermosillo and North Vancouver facilities are ISO 9001 and ISO/IEC 17025 certified. Gold was analyzed using 50-gram nominal weight fire assay with atomic absorption spectroscopy finish. Over limits for gold (>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 finish. Over limit analyses for silver (>100 g/t) were re-assayed using an ore-grade four-acid digestion with ICP-AES 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 the junior mining exploration sector, by identifying and negotiating interest in opportunities where management feels they can build upon previous success. Tocvan has approximately 33 million shares outstanding and is earning 100% into two exciting opportunities in Sonora, Mexico: the Pilar Gold-Silver project and the El Picacho Gold-Silver project. Management feels both projects represent tremendous opportunity to create shareholder value.
Brodie A. Sutherland, P.Geo., CEO for Tocvan Ventures Corp. and a qualified person ("QP") as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.
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 more information, please contact:
TOCVAN VENTURES CORP.
Brodie A. Sutherland, CEO 820-1130 West Pender St. Vancouver, BC V6E 4A4 Telephone: 1 888 772 2452 Email: ir@tocvan.ca