Tocvan Announces Core Drilling Underway at Gran Pilar Gold Silver Project
PRESS RELEASE
Tocvan Announces Core Drilling Underway at Gran Pilar Gold Silver Project
Highlights:
• Core Drilling has commenced at Pilar’s Main Zone
• Four RC Drillholes Completed Prior to Holiday Break on Expansion Area
• Assays Pending for 776.2 meters
Calgary, Alberta – January 8 , 2025 – Tocvan Ventures Corp. (the “ Company”) (CSE: TOC; OTCQB: TCVNF ; WKN:
TV3/A2PE64), is pleased to announce core drilling has commenced at its Gran Pilar Gold Silver Project in mine-f riendly
Sonora, Mexico. An initial nine core drill holes a re budgeted and pre- paid through an existing credit with partial joint
venture partner, Colibri Resources Corp. (Colibri). Tocvan and Colibri share 51/49 percent interest in the 105-hectare area
that contains Pilar’s Main Zone, core drilling will be focused on the JV area across the Main Zone to build out a robust
geological model needed for resource estimation (see Figure 1).
Prior to the holiday break, four RC drillholes were completed, totaling 776.2 meters . Several trends extending into the
100% controlled expansion area (over 2,100 hectares) are being tested for the first time, pushing the known boundary of
mineralization farther out than ever before. Assays are pending for the four drillholes. RC drilling is planned to continue
throughout the year.
“We welcome 2025 as important year with a focus on two key project advancements: 1) the establishment and ongoing
expansion of a resource estimate; 2) the setup and processing of a proof-of-concept test mine.” commented, CEO Brodie
Sutherland. “With drilling ongoing we expec t results from RC drilling and surface exploration across the Gran Pilar
expansion area starting the later half of January into February. First results from core drilling we expect later in February
into early March. During this time, we will continue to build towards test mine operation with aim for proof-of-concept
production during the third quarter of this year. The Tocvan team wishes everyone a happy and healthy 2025. With the
progression of the exciting events unfolding, we are optimistic for a great year ahead for Tocvan and its shareholders.”
Plate 1. Photo of Core Drilling starting at the Gran Pilar Gold-Silver Project, Sonora, Mexico.
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Pilar Drill Highlights:
• 2024 RC Drilling Highlights include (all lengths are drilled thicknesses):
o 42.7m @ 1.0 g/t Au, including 3.1m @ 10.9 g/t Au
o 56.4m @ 1.0 g/t Au, including 3.1m @ 14.7 g/t Au
o 16.8m @ 0.8 g/t Au and 19 g/t Ag
• 2022 Phase III Diamond Drilling Highlights include (all lengths are drilled thicknesses):
o 116.9m @ 1.2 g/t Au, including 10.2m @ 12 g/t Au and 23 g/t Ag
o 108.9m @ 0.8 g/t Au, including 9.4m @ 7.6 g/t Au and 5 g/t Ag
o 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):
o 39.7m @ 1.0 g/t Au, including 1.5m @ 14.6 g/t Au
o 47.7m @ 0.7 g/t Au including 3m @ 5.6 g/t Au and 22 g/t Ag
o 29m @ 0.7 g/t Au
o 35.1m @ 0.7 g/t Au
• 2020 Phase I RC Drilling Highlights include (all lengths are drilled thicknesses):
o 94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;
o 41.2m @ 1.1 g/t Au, including 3.1m @ 6.0 g/t Au and 12 g/t Ag ;
o 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:
o 61.0m @ 0.8 g/t Au
o 21.0m @ 38.3 g/t Au and 38 g/t Ag
o 13.0m @ 9.6 g/t Au
o 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
o 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
o 95 to 99% Recovery of Gold
o 73 to 97% Recovery of Silver
o 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 m ineral 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 majo rity 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 51 million shares outstanding.
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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.
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,
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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-loo king
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: [email protected]