Tocvan Announces Results for Gold - Silver Bulk Sample Heap Leaching; Outlines Process Flow to Further Optimize Rapid Recovery Potential
-1-
PRESS RELEASE
Tocvan Announces Results for Gold - Silver Bulk Sample Heap Leaching
Outlines Process Flow to Further Optimize Rapid Recovery Potential
Highlights
• Recovery Results for Heap Leaching Match Regional Operating Mines; Head Grade Exceeds Expectations
o 62% Recovery of Gold Achieved Over 46-day Leaching Period
o Report Confirms with Increase in Irrigation Flowrate, Higher Recovery Can Be Achieved
o 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
o Bulk Sample Only Included Coarse Fraction of Material (+3/4” to +1/8”)
o Fine Fraction (-1/8”) Indicates Rapid Recovery with Agitated Leach
• Recap of Fine Fraction and Gravity Recovery Results
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
o 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
• Video Summary: Tocvan Ventures - Final Bulk Sample Results - YouTube
Calgary, Alberta – August 22 , 2023 – Tocvan Ventures Corp. (the “Company”) (CSE: TOC; OTCQB: TCVNF ; FSE: TV3),
is pleased to provide results from a Bulk Sample completed at its Pilar gold -silver project Sonora, Mexico. Independent
Qualified Professionals at LTM of Hermosillo have provided a final report after the completion of final analytical results.
The report findings include a base of 62% recovery of gold and 47% recovery of silver. Head grade results were calculated
by LTM as 1.9 g/t Au and 7 g/t Ag, with calculated recoverable metal extracted at 1.2 g/t Au and 3 g/t Ag. Importantly the
report notes that the first 30 days of leaching was restricted by an errat ic and low flowrate of cyanide leaching solution.
This was corrected once identified through the installation of updated irrigation systems and began instantly improving
irrigation flowrate and metal recovery. LTM notes that increased gold and silver recov ery is likely with a more consistent
flowrate. LTM has recommended a duplicate column leach study of available bulk sample composite material to verify the
ultimate gold and silver extractions under heap leach. It is also i mportant to note the l ow cyanide (NaCN) consumption
recorded (0.19 kg/t), indicating low cost of operation. In addition to the heap leach study, an agitated bottle roll test was
completed by LTM on a bulk sample composite for comparison of the two methods. Rapid gold and silver recovery was
recorded from minus 20 Mesh material returning 80% recovery of gold and 94% recovery of silver after just 24 -hours of
retention time. Follow-on agitated leach and gravity tests are recommended to further evaluate the ability to utilize rapid
recovery methods in lieu of the slower heap leach method. The Company is extremely pleased with the analytical results
and insights gained through the bulk sample process which will guide future development and provide added confidence
in the optimal extraction method.
“The Bulk Sample process has been extremely important to the understanding of the surface expression of mineralization
at Pilar along with defining a path towards optimal gold and silver recovery .” Stated Brodie Sutherland, CEO. “ We are
encouraged by t he strong heap leach results for gold where the data suggests recovery can be improved through
increased leaching solution flowrate over a consistent and longer leaching period. Perhaps the most encouraging
development from the study is the characterization of exposed gold and silver amenable to rapid gravity and agitated
leach recovery. A quicker turnaround for metal extract ion at very high recovery rates adds a new positive factor to the
-2-
development path of the relatively high -grade nature of Pilar. Having optionality to explore both methods as viable
extraction techniques makes Pilar a unique and standout deposit for the re gion and with the potential now to explore
an even greater area around to add to the potential resource size makes us even more excited for the future of the
project.”
Figure 1. Heap Leach Bulk Composite Sample. Flowrate versus time and Cumulative Gold and Silver Extraction versus time.
Irrigation flowrate was improved after day 30 of the test having a positive impact on metal recovery.
LTM Conclusions and Recommendations
1. A cyanide agitated bottle roll test conducted on the Bulk Composite Sample at a grind size of 100% minus 20 Mesh (850
microns) showed high gold and silver extractions of approximately 81% and 99% respectively after a re tention time of
72 hours. It is important to point out that fast gold and silver dissolution kinetics were obtained and gold and silver
extractions of 80% and 94% respectively were achieved after 24 hours of retention time.
2. It is recommended to conduct a cyanide agitated bottle roll study on the Bulk Composite Sample at three grind sizes of
P80 of 100 Mesh (150 µm), 140 Mesh (106 µm) and 200 Mesh (75 µm) to evaluate the impact of grind size upon gold
and silver extraction.
3. The cyanide pilot heap test conduc ted on the Bulk Composite Sample at a crush sizes of +3/4”+1/8” showed gold and
silver extractions of 61.84% and 47.27% respectively after a leach cycle of 46 days. Problems in the solution pumping
system during the first 30 days of leach cycle affected the gold and silver extractions during the first 30 days of leach
cycle. Therefore, it is recommended to conduct a duplicate column tests on the Bulk Composite Sample at a crush sizes
of +3/4”+1/8” for determining the ultimate gold and silver extractions under heap leach type of leaching regime.
4. It is recommended to conduct additional metallurgical test work on the Bulk Composite Sample at a crush size of 100%
-1/8” which will provide additional information on the overall gold and silver recoveries and potent ial process options
for processing the mineral resources from the El Pilar Gold Project. The following paragraphs summarize the
recommended testwork and the objectives:
A. Two cyanide locked cycle column tests (1 Test with Agglomeration with Portland Cement & 1 Test Without
Agglomeration) to evaluate if it is feasible to leach the fine fraction (100% -1/8”) of the Bulk Composite Sample
without presenting percolation problems.
B. Gravity Concentration at a grind of 80% minus 150 µm using a Knelson Laboratory Conc entrator. The objective of
the test will be to evaluate the amenability of recovery the free gold contained in the fine fraction of the Bulk
Composite Sample.
Improved Irrigation
-3-
C. Gravity Concentration at a grind of 80% minus 150 µm using a Wilfley Concentrator Table. The obje ctive will be to
evaluate the amenability of recovery potential free gold contained in the fine fraction of the Bulk Composite Sample
using the Wilfley Concentrator Table.
Figure 2. Cyanide Agitated Bottle Roll Test from Bulk Composite Sample. Rapid recovery of gold (80%) and silver (94%)
achieved after 24-hours of retention time.
Diagnostic Leach Study Summary
Full results from the Diagnostic Leach Study are available on the Company’s website and in the March 29th news release. A
summary is provided below to further demonstrate the potential to utilize rapid recovery methods.
Table 1. Summary of Results from the Precious Metals Diagnostic Leach Study completed by LTM.
Sample ID Location Head Screen Assay Gravity Concentrate Assay
Total Recoverable by
Gravity and Agitated
Cyanide Leach
Au (g/t) Ag (g/t) Au (g/t) Ag (g/t) Au (%) Ag (%)
494741 Main Zone (Surface) 6.2 23 76.2 237 95 78
494743 Main Zone (Surface) 8.2 68 117.0 1152 98 97
494745 Main Zone (Surface) 2.7 9 35.6 82 97 90
494747 4-T (Surface) 20.4 74 290.3 568 98 85
494749 Main Zone (Drill Core) 24.9 9 231.1 53 99 73
Share Issuance
The Company plans to issue 300,000 Common Shares at a deemed price of $0.5 0, as a debt settlement to a consultant of
the Company. The Company currently has 40,285,107 Common Shares outstanding.
About the Pilar Property
The Pilar Gold-Silver property has recently returned some of the regions best drill results. Coupled with encouraging gold
and silver recovery results from metallurgical test work, Pilar is primed to be a potential near -term producer. Pilar is
interpreted as a structurally controlled low-sulphidation epithermal system hosted in andesite rocks. Three primary 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 M ain Zone, North Hill and 4 -T. The Main Zone and 4 -T trends are open to the southeast and new
parallel zones have been recently discovered. Structural features and zones of mineralization within the structures follow
-4-
an overall NW -SE trend of mineralization. Mineralization extends along a 1.2 -km trend, only half of that trend has been
drill tested so far. To date, over 23,000 m of drilling has been completed.
• 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 16.5m @ 53.5 g/t Au and 53 g/t Ag
o 13.0m @ 9.6 g/t Au
o 9.0m @ 10.2 g/t Au and 46 g/t Ag
About Tocvan Ventures Corp.
Tocvan is a well -structured exploration development company. Tocvan was created in order to take advantage of the
prolonged downturn in the junior mining exploration sector, by identifying and negotiating interest in opportunities where
management feels they can build upon previous success. Tocvan has approximately 40 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.
Quality Assurance / Quality Control
Oversight and management of the Bulk Sample was completed by an independent group of qualified professionals at LTM
(Laboratorio Tecnológico de Metalurgia) of Hermosillo. As part of the Company’s robust QA/QC procedures, d uplicate
samples of cyanide solutions are submitted to LTM in Hermosillo, Sonora. LTM facilities are an ISO 17025 and ISO 9001:2015
certified lab. A second duplicate of cyanide solutions are submitted to SGS in Durango. Gold and silver are analyzed using
30g nominal weight fire assay with AA finish for Au and gravimetric determination for Ag. Other elements are analyzed
using aqua regia digestion with an ICP finish.
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 directio n 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
-5-
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: [email protected]