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  • Preliminary results have been received from two composite samples taken from the previously released drill hole JES-20-32
  • The samples consisted of a low-grade (0.63 g/t Au) and a medium-grade (1.2 g/t Au) composite
  • A minimum of 14 drill holes totalling 2,400 meters is planned for the initial stage of the Phase II drill program
  • The second stage of drilling totalling 1,600 meters is planned to commence mid-May
  • Tocvan has granted 200,000 share options exercisable at $0.80 per share with a 5-year term to a consultant of the company
  • Tocvan is an early-stage natural resource company engaged primarily in the acquisition, exploration and, if warranted, development of mineral properties
  • Tocvan Ventures Corp. (TOC) opened trading at C$0.90 per share

Tocvan Ventures (TOC) is pleased to announce the results of ongoing metallurgical work at its flagship Pilar Gold-Silver Project in Sonora, Mexico.

Preliminary results have been received from two composite samples taken from the previously released drill hole JES-20-32. Drill hole JES-20-32 is thought to be representative of the central portion of the Main Zone, which during Phase I drilling in December of 2020 intersected 94.6-meters at 1.6 g/t Au including 9.2m at 10.8 g/t Au and 38 g/t Ag from 57.9 to 152.5 meters.

The samples consisted of a low-grade (0.63 g/t Au) and a medium-grade (1.2 g/t Au) composite to determine the susceptibility of dissolution of gold through cyanide bottle testing. The results show after a retention time of 48 hours, maximum dissolution can be reached 91% for the low-grade composite and 92% for the medium-grade composite.

A summary of the results is provided in Table 1. Samples were submitted to SGS Laboratories in Durango, Mexico for analysis.

Table 1. Summary of Cyanide Bottle Test

“These results are an important first step as we move towards a bulk sample at Pilar,” commented VP Exploration, Brodie Sutherland.

“The results align with analysis completed by past operators which displayed similar gold recoveries of 90 to 92 per cent. With our Phase II drill program well underway we will continue to evaluate the potential of Pilar with continued exploration and metallurgical studies leading towards a bulk sample later this year.”

Update on Phase II Drill Program

A minimum of 14 drill holes totalling 2,400 meters is planned for the initial stage of the Phase II drill program. Eight drill holes have been completed to date for a total of 1,394 meters.

Samples for the first three holes have been submitted to ALS Labs in Hermosillo, with the remaining holes expected to be shipped and submitted this week. Early drilling has focused on the extension of the Main Zone.

Drill targeting is now shifting towards testing new targets in the 4-Trench Extension, North-Hill and Triple Vein Zone areas.

The second stage of drilling totalling 1,600 meters is planned to commence mid-May which will continue to test property-wide targets and follow-up on results from the initial stage.

Figure 1. Cross Section of Drill Hole JES-20-32 from Phase I drilling, looking northwest. Preliminary metallurgical composite samples released today were from hole JES-20-32.

About the Pilar Property

The Pilar Gold-Silver property is interpreted as a structurally controlled low-sulphidation epithermal project hosted in andesite rocks. Three zones of mineralization have been identified in the northwest part of the property from historic surface work and drilling and are referred to as the Main Zone, North Hill and 4-Trench.

Structural features and zones of mineralization within the structures follow an overall NW-SE trend of mineralization.

Over 19,200 m of drilling have been completed to date. Significant results are highlighted below:

  • - 2020 Phase I RC Drilling Highlights include ( all lengths are drilled thicknesses :
    • - 94.6m @ 1.6 g/t Au, including 1.5 m @ 9.2m @ 10.8 g/t Au and 38 g/t Ag;- 41.2m @ 1.1 g/t Au, including 3.1m @ 6.0g/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
    - 17,700m of Historic Core & RC drilling. Highlights include:
    • - 61.0m @ 0.8 g/t Au- 16.5m @ 53.5g/t Au and 53 g/t Ag- 13.0m @ 9.6 g/t Au- 9.0m @ 10.2 g/t Au and 46 g/t Ag

Soil and Rock sampling results from undrilled areas indicate mineralization extends towards the southeast from the Main Zone and 4-Trench Zone. Recent surface exploration has defined three new target areas: Triple Vein Zone, SE Vein Zone and 4 Trench Extension.

Brodie A. Sutherland, P.Geo., VP Exploration 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.

Sampling Methods

Samples collected for metallurgy are composites of RC chips with a minimum weight of 15 kgComposites were shipped to SGS Durango, Mexico. Gold recovery was analyzed by cyanide bottle roll test.

Corporate Update

Tocvan has granted 200,000 share options to a consultant of the company. The options are exercisable at $0.80 per share with a 5-year term to expiry and will vest over a one-year period.

Tocvan is an early-stage natural resource company engaged primarily in the acquisition, exploration and, if warranted, development of mineral properties.

Tocvan Ventures Corp. (TOC) opened trading at C$0.90 per share.

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