Tocvan Ventures Corp (TCVNF)

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$TCVNF 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

https://www.thenewswire.com/press-releases/1k49Fb7lV-tocvan-outlines-areas-for-bulk-sample-with-surface-channel-sampling-yielding-high-grade-gold-up-to-83-g-t-au-and-38-g-t-ag-at-pilar-gold-silver-project.html

Calgary, AB - TheNewswire - February 23, 2023 - Tocvan Ventures Corp. (the “Company”) (CSE:TOC) (OTC: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).

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


"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.