Highlights:
- Total of 3,268 meters drilled from 26 RC Drillholes
- Results pending for 11 drillholes totaling 1,442.8 meters
- Summer Surface Mapping, Rock and Soil Sampling Planned Across Southern Block of Expansion Area
- Definition of Expansion Area Footprint; Mine Development Planning
- Placer Miners Open Up New Area in Northern Expansion Block Expanding Target Potential
CALGARY, AB / ACCESSWIRE / June 21, 2024 / Tocvan Ventures Corp. (the “Company”) (CSE:TOC)(OTCQB:TCVNF)(FSE:TV3), is pleased to provide a progress update from its 2024 Reverse Circulation (RC) drill program at its road accessible Pilar Gold-Silver project in mine-friendly Sonora, Mexico.
To date, the 2024 drill program has completed 3,268 meters across 26 drill holes. Results for eleven drill holes are currently pending analysis (green squares on Figure 1). Drilling at Pilar has been paused to allow for the review of results and assess the summer weather conditions. A second drilling rig for core is being contemplated for later this year to expedite the build out of a robust geological model and accompany the remaining infill and step out drill holes for resource estimation.
“We are extremely pleased with the progress of the 2024 drill program, having completed 3.3 kilometers of the planned seven kilometers of drilling at Pilar already,” commented Brodie Sutherland, CEO. “So far this year, we have hit the most significant step-outs ever at Pilar. With more results pending, we are looking forward to the remaining half of the year. To enhance our understanding of Pilar and build out our geologic model, core drilling will be implemented again at Pilar. In 2022, an initial core program yielded some of the best results ever from the Main Zone; we look to continue that work this year. Across the broader expansion area, numerous targets are taking shape; our focus will be on the immediate expansion of Pilar and defining new areas of mineralization along with areas suitable for mine development infrastructure. There is a large footprint to sample, and we are excited to display the ultimate scale of Pilar.”
Insight into Drilling Program Progress
The progress made in the 2024 drill program at the Pilar Gold-Silver project points towards significant discoveries and a potential increase in resource estimation. By completing a substantial portion of the planned drilling and achieving notable step-outs, the company is on track to uncover new mineralization opportunities. Expediting the geological model with core drilling showcases the commitment to thorough exploration and understanding of the project site’s potential.
Current placer mining activity has increased along a new corridor heading northeast along the central part of the property (Figure 2). The new activity indicates another prospective area exists where no sampling data has been collected. The Company will evaluate the area for potential targeting. Across the Northern Alteration Zone (Figures 2 and 3), a major producer has been focused on evaluating the exploration potential of the area. The Company is encouraged by their initial observations. An additional two weeks of work is expected across the expansive area.
Summer Field Operations
Work will be ongoing at Pilar during the summer months with an emphasis on detailed surface evaluation of the geology and geochemistry of the expansion area. Initial rock sampling and mapping have provided key evidence for a much larger mineralized footprint at Pilar. The same volcanic andesite host rock is present across the southern block hosting the same vein, breccia and disseminated mineralization as seen at the Main Zone. Recently built roads have provided new access to the area. Sampling so far has defined an elevated footprint of gold and silver 2.5x larger than the current extent of drilling at Pilar. Mineralization remains open to the north and east across the southern block. Grid soil sampling along with mapping and rock chip sampling will be completed across the area to better define the extents of mineralization. Later in the year, the Company is evaluating a UAV-based magnetics survey to further assist in the definition of fault structures and alteration. The objective of the surface work will be to:
1) Further define drill targets across the expansion area for additional resource potential;
2) Identify areas with no significant mineralization adequate for leach pads, tailings, and other mine infrastructure including processing facilities.
Plate 1. A. Company management meeting with local community stakeholders to discuss plans for 2024 and beyond. B. Project Manager, Isaac Ortega touring local geologist on the expansion area. C. Intense clay alteration at the northern extent of the expansion area. D. Gold from Pilar.
Figure 1. Summary map of drill highlights and surrounding surface results.
Figure 2. Pilar Project Planview map showing the southern block made up of the Pilar Main Zone and the newly discovered placer source with additional gold-silver mineralization extending to the south. Within the northern block, a large alteration zone that spans 3.3 km by 1.5 km (North Alteration Zone) has returned high-grade gold and silver values in the first few sampling programs across the newly acquired area.
Figure 3. Aerial view of the North Alteration Zone where the first two and only samples collected to date returned up to 3.2 g/t Au and 1,225 g/t Ag associated with old underground workings tied to a large area of advanced argillic alteration. The broader North Alteration Zone extends for over 3.3 kilometers in length and is 1.5 kilometers wide.
About Tocvan Ventures Corp.
Tocvan Ventures Corp. continues to showcase its commitment to exploration and development, emphasizing the opportunity to create shareholder value through strategic projects in Sonora, Mexico. By leveraging past successes in the junior mining sector and consolidating attractive land positions like the Pilar Gold-Silver Project, the company is poised for potential near-term production. Through ongoing exploration efforts and promising drill results, Tocvan Ventures Corp. solidifies its position as a key player in the mining industry.
Quality Assurance / Quality Control
Samples 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.
Brodie A. Sutherland, 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.
It is important to note that forward-looking statements contained in this update, while based on current judgment and reasonable assumptions, come with inherent risks and uncertainties. These statements reflect the Company’s optimism and strategic direction but are subject to fluctuating market conditions and unforeseen challenges. Tocvan Ventures Corp. remains vigilant in navigating the dynamic mining landscape and adapting its strategies to maximize opportunities for growth and success.
Cautionary Statement Regarding Forward Looking Statements
Neither the Canadian Securities Exchange nor its regulation services provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact:
TOCVAN VENTURES CORP.
Brodie A. Sutherland, CEO
820-1130 West Pender St.
Vancouver, BC V6E 4A4
403-829-9877
bsutherland@tocvan.ca
The Howard Group
Jeff Walker
VP Howard Group Inc.
403-221-0915
jeff@howardgroupinc.com
SOURCE: Tocvan Ventures Corp
View the original
Highlights:
- Total of 3,268 meters drilled from 26 RC Drillholes
- Results pending for 11 drillholes totaling 1,442.8 meters
- Summer Surface Mapping, Rock and Soil Sampling Planned Across Southern Block of Expansion Area
- Definition of Expansion Area Footprint; Mine Development Planning
- Placer Miners Open Up New Area in Northern Expansion Block Expanding Target Potential
CALGARY, AB / ACCESSWIRE / June 21, 2024 / Tocvan Ventures Corp. (the “Company”) (CSE:TOC)(OTCQB:TCVNF)(FSE:TV3), is pleased to provide a progress update from its 2024 Reverse Circulation (RC) drill program at its road accessible Pilar Gold-Silver project in mine-friendly Sonora, Mexico.
To date, the 2024 drill program has completed 3,268 meters across 26 drill holes. Results for eleven drill holes are currently pending analysis (green squares on Figure 1). Drilling at Pilar has been paused to allow for the review of results and assess the summer weather conditions. A second drilling rig for core is being contemplated for later this year to expedite the build out of a robust geological model and accompany the remaining infill and step out drill holes for resource estimation.
“We are extremely pleased with the progress of the 2024 drill program, having completed 3.3 kilometers of the planned seven kilometers of drilling at Pilar already,” commented Brodie Sutherland, CEO. “So far this year, we have hit the most significant step-outs ever at Pilar. With more results pending, we are looking forward to the remaining half of the year. To enhance our understanding of Pilar and build out our geologic model, core drilling will be implemented again at Pilar. In 2022, an initial core program yielded some of the best results ever from the Main Zone; we look to continue that work this year. Across the broader expansion area, numerous targets are taking shape; our focus will be on the immediate expansion of Pilar and defining new areas of mineralization along with areas suitable for mine development infrastructure. There is a large footprint to sample, and we are excited to display the ultimate scale of Pilar.”
Insight into Drilling Program Progress
The progress made in the 2024 drill program at the Pilar Gold-Silver project points towards significant discoveries and a potential increase in resource estimation. By completing a substantial portion of the planned drilling and achieving notable step-outs, the company is on track to uncover new mineralization opportunities. Expediting the geological model with core drilling showcases the commitment to thorough exploration and understanding of the project site’s potential.
Current placer mining activity has increased along a new corridor heading northeast along the central part of the property (Figure 2). The new activity indicates another prospective area exists where no sampling data has been collected. The Company will evaluate the area for potential targeting. Across the Northern Alteration Zone (Figures 2 and 3), a major producer has been focused on evaluating the exploration potential of the area. The Company is encouraged by their initial observations. An additional two weeks of work is expected across the expansive area.
Summer Field Operations
Work will be ongoing at Pilar during the summer months with an emphasis on detailed surface evaluation of the geology and geochemistry of the expansion area. Initial rock sampling and mapping have provided key evidence for a much larger mineralized footprint at Pilar. The same volcanic andesite host rock is present across the southern block hosting the same vein, breccia and disseminated mineralization as seen at the Main Zone. Recently built roads have provided new access to the area. Sampling so far has defined an elevated footprint of gold and silver 2.5x larger than the current extent of drilling at Pilar. Mineralization remains open to the north and east across the southern block. Grid soil sampling along with mapping and rock chip sampling will be completed across the area to better define the extents of mineralization. Later in the year, the Company is evaluating a UAV-based magnetics survey to further assist in the definition of fault structures and alteration. The objective of the surface work will be to:
1) Further define drill targets across the expansion area for additional resource potential;
2) Identify areas with no significant mineralization adequate for leach pads, tailings, and other mine infrastructure including processing facilities.
Plate 1. A. Company management meeting with local community stakeholders to discuss plans for 2024 and beyond. B. Project Manager, Isaac Ortega touring local geologist on the expansion area. C. Intense clay alteration at the northern extent of the expansion area. D. Gold from Pilar.
Figure 1. Summary map of drill highlights and surrounding surface results.
Figure 2. Pilar Project Planview map showing the southern block made up of the Pilar Main Zone and the newly discovered placer source with additional gold-silver mineralization extending to the south. Within the northern block, a large alteration zone that spans 3.3 km by 1.5 km (North Alteration Zone) has returned high-grade gold and silver values in the first few sampling programs across the newly acquired area.
Figure 3. Aerial view of the North Alteration Zone where the first two and only samples collected to date returned up to 3.2 g/t Au and 1,225 g/t Ag associated with old underground workings tied to a large area of advanced argillic alteration. The broader North Alteration Zone extends for over 3.3 kilometers in length and is 1.5 kilometers wide.
About Tocvan Ventures Corp.
Tocvan Ventures Corp. continues to showcase its commitment to exploration and development, emphasizing the opportunity to create shareholder value through strategic projects in Sonora, Mexico. By leveraging past successes in the junior mining sector and consolidating attractive land positions like the Pilar Gold-Silver Project, the company is poised for potential near-term production. Through ongoing exploration efforts and promising drill results, Tocvan Ventures Corp. solidifies its position as a key player in the mining industry.
Quality Assurance / Quality Control
Samples 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.
Brodie A. Sutherland, 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.
It is important to note that forward-looking statements contained in this update, while based on current judgment and reasonable assumptions, come with inherent risks and uncertainties. These statements reflect the Company’s optimism and strategic direction but are subject to fluctuating market conditions and unforeseen challenges. Tocvan Ventures Corp. remains vigilant in navigating the dynamic mining landscape and adapting its strategies to maximize opportunities for growth and success.
Cautionary Statement Regarding Forward Looking Statements
Neither the Canadian Securities Exchange nor its regulation services provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact:
TOCVAN VENTURES CORP.
Brodie A. Sutherland, CEO
820-1130 West Pender St.
Vancouver, BC V6E 4A4
403-829-9877
bsutherland@tocvan.ca
The Howard Group
Jeff Walker
VP Howard Group Inc.
403-221-0915
jeff@howardgroupinc.com
SOURCE: Tocvan Ventures Corp
View the original
