Unlock stock picks and a broker-level newsfeed that powers Wall Street.
Tocvan Discovers New High-Grade Gold in First Drilling on 100% Controlled Expansion Area. RC Drilling Returns 19.4 g/t Au over 3.1 meters within 106.8 meters of 0.6 g/t Au from Surface
CALGARY, AB / ACCESS Newswire / February 25, 2025 / Tocvan Ventures Corp. (the "Company") (CSE:TOC)(OTCQB:TCVNF)(WKN:TV3/A2PE64), is pleased to announce a new discovery from Reverse Circulation (RC) drilling at Gran Pilar Gold Silver Project in mine-friendly Sonora, Mexico. A total of four drill holes, totaling 776.2 meters were completed on the 100% controlled expansion area immediately north of known mineralized trends. The program was the first ever focused on the Expansion Area Tocvan acquired 100% interest in, consolidating over 22 square kilometers of area surrounding the majority held Main Zone. Two exploration holes were completed testing northwest trending mineralization. Two scout holes were completed in a northwest direction to test for a further continuation of mineralization. Scout hole, JES-24-101 discovered a previously unknown, near surface high grade section returning 19.8 meters of 3.1 g/t Au from surface, including 3.1m of 19.4 g/t Au. The zone is within a broader anomalous section that extends from surface downhole to 106.8 meters where gold is averaging 0.6 g/t Au. Mineralization coincides with a mineralized and sulphide bearing granitoid body and it's contact with the Main Zone altered andesite volcanics. The result is the best yet outside of the Main Zone and a great indication of the broader potential across the Southern Block of the Expansion Area (Figure 1). The successful drill hit is also 250m northwest of last years drillhole, JES-24-79 which returned 42.7 meters of 1.0 g/t Au. 185 meters to the northeast of JES-24-101, scout hole JES-24-102 returned 16.8 meters of 0.4 g/t Au and 6 g/t Ag, including 3.1 meters of 2.0 g/t Au. The result currently is the northern most successful hit of mineralization ever on the property and is an excellent indication of continued mineralization. The hole was stopped early at 166.2 meters due to the intersection of a significant source of subsurface water. Recent soil sampling further north on the trend returned 519 ppb Au, more drilling will be planned on these corridors to further evaluate the full potential of area. Recent surface sampling and mapping has indicated mineralization continues 700 m north and 2,000 m east of this area.
"Having an instant new discovery of unique high-grade mineralization on our expansion area is an incredible advancement for our first four drill holes ever in the area." commented, CEO Brodie Sutherland. "We will look to build off this success with continuous testing of the north and eastern extension of mineralization. It is early in our understanding of this new mineralization but its nature suggests further potential of high-grade gold and silver tied to shallow intrusive rocks, that have the potential to host sheeted veins with more high-grade gold. We are preparing for immediate follow-up of these drill targets."
Figure 1. Planview map of the Main Zone area and immediately north where new drilling has discovered the extension of mineralization along parallel trends.
Table 1. Summary of RC Drill Results in today's release.
Figure 2. A 3D North to South Long-Section of the drilled Main Zone area, new drilling has returned significant mineralization the furthest north yet.
Figure 3. Gran Pilar Project Overview, > 22km2 of prospective ground.
Marketing Engagement
The Company announces it has entered into an agreement with Evolux Capital ("Evolux") to provide marketing services to the Company. The services are expected to include the creation and distribution of social media advertising, development and implementation of communications strategies, assisting with brand development, and coordinating with social media and advertising partners.
Evolux is an arm's-length marketing firm and has been engaged for an initial 12-month term ending February, 2026 for total consideration of $130,000. The Company does not propose to issue any securities to Evolux in consideration for the services to be provided to the Company.
Pilar Drill Highlights:
2024 RC Drilling Highlights include (all lengths are drilled thicknesses):
42.7m @ 1.0 g/t Au, including 3.1m @ 10.9 g/t Au
56.4m @ 1.0 g/t Au, including 3.1m @ 14.7 g/t Au
16.8m @ 0.8 g/t Au and 19 g/t Ag
2022 Phase III Diamond Drilling Highlights include (all lengths are drilled thicknesses):
116.9m @ 1.2 g/t Au, including 10.2m @ 12 g/t Au and 23 g/t Ag
108.9m @ 0.8 g/t Au, including 9.4m @ 7.6 g/t Au and 5 g/t Ag
63.4m @ 0.6 g/t Au and 11 g/t Ag, including 29.9m @ 0.9 g/t Au and 18 g/t Ag
2021 Phase II RC Drilling Highlights include (all lengths are drilled thicknesses):
39.7m @ 1.0 g/t Au, including 1.5m @ 14.6 g/t Au
47.7m @ 0.7 g/t Au including 3m @ 5.6 g/t Au and 22 g/t Ag
29m @ 0.7 g/t Au
35.1m @ 0.7 g/t Au
2020 Phase I RC Drilling Highlights include (all lengths are drilled thicknesses):
94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;
41.2m @ 1.1 g/t Au, including 3.1m @ 6.0 g/t Au and 12 g/t Ag ;
24.4m @ 2.5 g/t Au and 73 g/t Ag, including 1.5m @ 33.4 g/t Au and 1,090 g/t Ag
15,000m of Historic Core & RC drilling. Highlights include:
61.0m @ 0.8 g/t Au
21.0m @ 38.3 g/t Au and 38 g/t Ag
13.0m @ 9.6 g/t Au
9.0m @ 10.2 g/t Au and 46 g/t Ag
Pilar Bulk Sample Summary:
62% Recovery of Gold Achieved Over 46-day Leaching Period
Head Grade Calculated at 1.9 g/t Au and 7 g/t Ag; Extracted Grade Calculated at 1.2 g/t Au and 3 g/t Ag
Bulk Sample Only Included Coarse Fraction of Material (+3/4" to +1/8")
Fine Fraction (-1/8") Indicates Rapid Recovery with Agitated Leach
Agitated Bottle Roll Test Returned Rapid and High Recovery Results: 80% Recovery of Gold and 94% Recovery of Silver after Rapid 24-hour Retention Time
Additional Metallurgical Studies:
Gravity Recovery with Agitated Leach Results of Five Composite Samples Returned
95 to 99% Recovery of Gold
73 to 97% Recovery of Silver
Includes the Recovery of 99% Au and 73% Ag from Drill Core Composite at 120-meter depth.
Based on management's strong belief in the project's potential, the Company is outlining a permitting and operations strategy for a pilot facility at Pilar. The facility would underpin a robust test mine scenario with aims to process up to 50,000 tonnes of material. Timelines and budget are being prepared with the aim of moving forward with the development early in 2025. With gold prices hitting all-time highs, the Company believes the onsite test mine will provide key economic parameters and showcase the mineral potential of the area. In 2023, the Company completed an offsite bulk sample that produced important data showcasing the potential to recover both gold and silver through a variety of methods including heap leach, gravity and agitated leach (see August 22, 2023, news release for more details).
About Tocvan Ventures Corp.
Tocvan's advancing gold-silver projects are located in the mine-friendly jurisdiction of Sonora, Mexico. Through ongoing exploration programs, Company is unveiling the high-potential at its Gran Pilar Gold-Silver Project where it holds 100% interests in over 21 square kilometers of prospective area and a majority ownership (51%) in a one square kilometer area shared with Colibri Resources. The Company also holds 100% interest in the Picacho Gold-Silver project in the Caborca Trend of northern Sonora, a trend host to some of the major gold deposits of the region. Management feels both projects represent tremendous opportunity to create shareholder value.
Tocvan has approximately 59 million shares outstanding.
Quality Assurance / Quality Control
Rock and Drill 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.
Soil 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 and multi-element analysis of soils was completed by aqua regia digestion and ICP-MS finish using a 50-gram nominal weight. Over limit gold values greater than 1 g/t were re-assayed with a more robust aqua regia digestion ad ICP-MS 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 blank samples and certified reference materials 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.
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.
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
