Tocvan Outlines Areas for Bulk Sample with Surface Channel Sampling Yielding High-Grade Gold Up to 8.3 g/t Au and 38 g/t Ag at Pilar Gold-Silver Project
PRESS RELEASE
Tocvan Outlines Areas for Bulk Sample with Surface Channel Sampling Yielding High-Grade Gold
Up to 8.3 g/t Au and 38 g/t Ag at Pilar Gold-Silver Project
Highlights
• Gold values averaging 1.4 g/t, reported up to 8.3 g/t Au
• Silver values averaging 11 g/t, reported up to 65 g/t Ag
• Results will guide Bulk Sampling to produce a representative blend of material from surface at Pilar
Calgary, Alberta – February 23, 2023 Tocvan Ventures Corp. (the “Company”) (CSE: TOC; OTCQB: TCVNF; FSE: TV3), is
pleased to announce the results from surface channel sampling across areas being prepared for the excavation of material
for a Bulk Sample at its Pilar Gold-Silver Project in Sonora, Mexico. Channel sampling was completed every 5 -meters
perpendicular to exposed mineralization and alteration at surface along the Main Zone and 4-T trends. Eight locations were
sampled to test varying levels of exposed mineralization, all eight trench locations returned anomalous gold and silver
values. At the Main Zone, trench TR -2023-01, seven samples over a 35-meter trend returned an average grade of 2.2 g/t
Au and 14.2 g/t Ag, ranging from 8.3 g/t to 0.1 g/t Au (see Table 1 and Figure 1). Along trench TR -2023-02, five samples
over a 20-meter trend returned an average grade of 2.8 g/t Au and 9.5 g/t Ag, ranging from 7.1 to 0.7 g/t Au. Trench TR-
2023-07 consisted of five samples along a 25-meter trend which returned an average grade of 2.2 g/t Au and 30.5 g/t Ag,
ranging from 7.3 g/t to 0.1 g/t Au. Along the Main Zone south trend anomalous values of gold and silver were returned at
surface where mineralization is known to be more pronounced at depth confirmed by drill hole JES-22-62, which returned
108.6m of 0.8 g/t Au. In total, 37 channel samples were collected across the property ; 22 samples returned values above
0.15 g/t Au, including 12 samples above 1.0 g/t Au (see Figure 1 and Table 1 for full results).
"The results from channel sampling at Pilar are extremely encouraging, exceeding our expectations and showcasing the
potential for consistent high-grade gold with silver values for our bulk sampling” stated Brodie Sutherland, CEO. “As we get
set for our first bulk sample at Pilar this provides us with confidence in extracting significant grade over the already exposed
portions of the mineralization not only at our established Main Zone but also along the 4-T trend.”
Up to 1,000 tonnes of oxide -gold material will be extracted from select areas exposed at surface across the project area,
focusing on the Main Zone and 4 -T Trends where preliminary column leach studies have returned promising head -grade
and recovery results. Bulk Sample material will be extracted and prepared for processing by heap-leach method at a private
mining operation less than 25 kilometers to the west of Pilar. Information from the sample will aim to provide a more
detailed account of expected head-grade and recovery percentage of gold along with providing key information to optimize
future production facilities. In coordination with the Bulk Sample, additional metallurgical sampling will be completed to
identify gold characteristics to further improve gold extraction techniques. The process will be managed by an independent
qualified professional specializing in the metallurgy of oxide-gold deposits. Total duration of the processing and analysis of
the bulk sample is expected to span three to four months depending on the rate of precious metals actively recovered
through the heap-leach process. The information provided from the sample will be used for planning in coordination for
permitting of full-scale mine and process facilities on-site at Pilar.
Figure 1. Map of Channel Sampling Results from Bulk Sample Program at Pilar Project
Table 1. Channel Sampling Results from Bulk Sample Program at Pilar Project
Channel samples were taken approximately 5-meters apart, perpendicular to the trend of trench locations. Coordinates are in UTM NAD 27.
TARGET TRENCH ID SAMPLE ID Easting Northing Elevation (m) Weight (kg) Au (g/t) Ag (g/t)
MAIN ZONE
TR-2023-01 494701 617429 3144559 415 3.85 8.30 37.9
TR-2023-01 494702 617431 3144553 407 6.70 6.62 45.5
TR-2023-01 494703 617432 3144549 403 6.64 0.16 5.0
TR-2023-01 494704 617435 3144547 401 5.40 0.18 5.3
TR-2023-01 494705 617437 3144541 404 6.29 0.23 3.9
TR-2023-01 494706 617434 3144536 408 6.70 0.04 1.3
TR-2023-01 494707 617435 3144530 404 5.02 0.07 0.8
TR-2023-02 494708 617426 3144564 399 6.38 0.69 5.5
TR-2023-02 494709 617426 3144569 398 7.00 7.06 8.7
TR-2023-02 494710 617422 3144574 398 4.93 1.67 14.0
TR-2023-02 494711 617422 3144579 399 5.72 2.36 13.8
TR-2023-02 494712 617418 3144565 397 7.73 2.30 5.3
TR-2023-03 494738 617394 3144631 395 5.56 4.39 7.9
TR-2023-03 494739 617404 3144679 400 6.62 0.52 1.5
TR-2023-03 494740 617411 3144629 400 6.66 0.02 0.3
TR-2023-04 494713 617405 3144592 396 6.69 0.04 1.3
TR-2023-04 494714 617401 3144596 396 5.98 0.03 2.5
TR-2023-04 494715 617399 3144601 396 6.54 0.03 1.7
4-T
TR-2023-05 494735 617763 3144650 430 5.57 2.47 23.0
TR-2023-05 494736 617762 3144658 431 5.70 1.14 33.0
TR-2023-05 494737 617751 3144674 425 6.23 0.28 8.2
TR-2023-06 494734 617794 3144639 426 6.09 0.41 3.4
TR-2023-07 494729 617912 3144648 445 7.38 0.06 1.4
TR-2023-07 494730 617905 3144653 446 7.70 7.27 64.5
TR-2023-07 494731 617903 3144658 445 5.19 1.83 20.9
TR-2023-07 494732 617897 3144660 445 7.63 0.97 6.1
TR-2023-07 494733 617893 3144660 445 6.54 0.89 59.8
MAIN ZONE SOUTH
TR-2023-08 494719 617578 3144454 491 7.26 0.61 10.9
TR-2023-08 494720 617507 3144450 491 6.73 0.03 11.2
TR-2023-08 494721 617508 3144461 491 5.76 0.04 2.1
TR-2023-08 494722 617508 3144467 494 5.52 0.07 3.6
TR-2023-08 494723 617510 3144472 448 6.27 0.10 2.7
TR-2023-08 494724 617514 3144478 447 5.88 0.02 2.1
TR-2023-08 494725 617509 3144487 441 6.59 0.17 3.2
TR-2023-08 494726 617501 3144494 439 5.48 0.01 2.0
TR-2023-08 494727 617501 3144494 440 5.14 0.01 4.4
TR-2023-08 494728 617505 3144497 436 5.57 0.05 0.7
Share Issuance
As part of the production and broadcasting media agreement entered into with New to The Street Group LLC (“New
Street”) dated August 15, 2022 (the “Agreement”), the Company is obligated to issue 218,000 common shares to New
Street under the Agreement at a deemed issue price of $0.50 per common share. The common shares are subject to a
statutory four month hold period from the date of issuance.
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 b een identified in the north -west part of the property from historic surface work and drilling and
are referred to as the Main 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
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
Figure 2. Map of Sonora, Mexico with the location of Tocvan’s Projects relative to other major Sonora projects
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 (>10 Moz Au) and San Francisco (>3 Moz Au). The project
is 140 kilometers north of Hermosillo and only 18 kilometers southwest of the producing San Francisco Mine. The Project
totals 24 square kilometers of area showing similarities in geology and structure as the San Francisco Mine. Five primary
zones of mineralization have been identified across the property totalling over six kilometers of prospective trends.
Surface sampling and historic workings have identified high-grade gold and silver values. Recently the Company
completed its first drill program at El Picacho, confirming its model and hitting significant gold mineralization In a step-
out to historic workings. Drill hole SRA-22-010, intersected 44.2-meters of 0.6 g/t Au, including 12.2-meters of 2.0 g/t Au
and 7 g/t Ag. As exploration and drilling continues, Tocvan believes this provide an excellent opportunity for discovery of
a muti-million ounce district.
Figure 3. Overview map of the El Picacho Gold-Silver Project.
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 juni or mining exploration sector, by identifying and negotiating interest in opportunities where
management feels they can build upon previous success. Tocvan has approximately 3 8 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
Channel 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 analyz ed 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.
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 containe d 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]