Tocvan Core Drilling Returns 10.3 g/t Gold Over 9.7 meters within 83.5 meters of 1.3 g/t Gold Includes 60.6 g/t Gold Over 1.6 meters, Highest-Grade Interval Since Prospect Discovery

Rhea-AI Summary

Tocvan Ventures Corp. (TCVNF) has announced significant drilling results from its Gran Pilar Gold Silver Project in Sonora, Mexico. The company reported its highest gold grade result since the prospect's 1996 discovery, with core hole JES-25-104 yielding 10.3 g/t Au over 9.7m, including an impressive 60.6 g/t Au over 1.6 meters.

The high-grade mineralization was found within a broader zone averaging 1.3 g/t Au over 83.5 meters. Adjacent trench sampling averaged 1.9 g/t Au and 9 g/t Ag over 14m. A second core hole, JES-25-103, returned anomalous gold, silver, and copper values, averaging 0.1 g/t Au, 8 g/t Ag, and 0.54% Cu over 34.7 meters.

The company is planning a pilot facility at Pilar with aims to process up to 50,000 tonnes of material in early 2025. Previous metallurgical studies have shown promising recovery rates of 95-99% for gold and 73-97% for silver using gravity recovery with agitated leach.

Positive

• Highest-grade gold intersection since discovery: 10.3 g/t Au over 9.7m
• Broad mineralization zone averaging 1.3 g/t Au over 83.5 meters
• Excellent metallurgical recovery rates: 95-99% for gold, 73-97% for silver
• Advancing toward pilot facility capable of processing 50,000 tonnes

Negative

• Only 51% ownership of the Main Zone
• Bulk sample showed lower recovery rate of 62% compared to lab tests

Highlights:

• Highest Gold Grade Result Since Prospect Discovery in 1996

  • 10.3 g/t Au Over 9.7m, including 1.6m of 60.6 g/t Au or 1.95 troy ounces (Hole JES-25-104)

    • Only surpassed by Historic Drill Hole S-10, 16.5 meters of 53 g/t Au (1996 Discovery) *

    • Anomalous Mineralization from 14.1 to 97.6 meters averaging 1.3 g/t Au

    • Next to Trench Opened in 2023 for Bulk Sample Material

      • Surface Channels Averaged, 1.9 g/t Au and 9 g/t Ag over 14m (TR-2023-03)

  • Northwestern Hole JES-25-103, returns 3.7 meters of 0.4 g/t Au, 39 g/t Ag and 2.6% Cu

    • Anomalous Mineralization from 19.7 to 54.4 meters averaging 0.1 g/t Au, 8 g/t Ag and 0.54% Cu

CALGARY, AB / ACCESS Newswire / March 11, 2025 / Tocvan Ventures Corp. (the "Company") (CSE:TOC)(OTCQB:TCVNF)(WKN:TV3/A2PE64), is pleased to announce results from the first two core holes recently drilled at the Gran Pilar Gold Silver Project in mine-friendly Sonora, Mexico. Ten core drillholes totaling 1,167.5 meters were completed earlier this year within the majority owned (51%) Main Zone held in partnership with Colibri Resource Corp. Results are highlighted by 10.3 g/t Au over 9.7m, including 60.6 g/t Au over 1.6 meters starting at 87.8 meters vertical depth (JES-25-104). The high-grade mineralization correlates with at surface mineralization and lies within a broader anomalous zone drilled that averages 1.3 g/t Au over 83.5 meters from 14.1 meters below surface. In 2023, a trench exposed material adjacent to the drill hole that averaged 1.9 g/t Au and 9 g/t Ag over 14m. Material from the trench was used in the 2023 Bulk Sample completed by Tocvan. JES-25-104 is also on the same section as RC hole, JES-20-36 (24.4m of 2.5 g/t Au and 73 g/t Ag, including 1.5 m of 33.4 g/t Au and 1,090 g/t Ag) and later core hole JES-22-58 (21.7m of 0.9 g/t Au, including 4.0m of 4.2 g/t Au). The highest-grade mineralization intersected is related to a fault structure known to host high grade gold and silver. The result is the highest gold value recorded since initial discovery drilling was completed in 1996 by Lundin controlled company, Santa Catalina Mining Corp., where historic hole S-10 returned 53 g/t Au over 16.5 meters (*as reported July 30, 1996 by Santa Catalina Ming Corp.). Further to the northwest, 145 meters, core hole JES-25-103, returned anomalous gold, silver and copper averaging 0.1 g/t Au, 8 g/t Ag and 0.54% Cu over 34.7 meters starting from 19.7 meters downhole. A higher grade zone averages 3.7 meters of 0.4 g/t Au, 39 g/t Ag and 2.6% Cu. Elevated copper values are consistent with results recorded in the North Hill area and seen in trench exposures that may be related to granitoid intrusive rocks first recorded in recent RC drilling further north.

"These near-surface high-grade results showcase the rapid development potential of Pilar." commented, CEO Brodie Sutherland. "Core drilling has again yielded some of the best results ever from the property. Results are in line with our initial observations of key styles of significant mineralization. The very high-grade interval in JES-25-104 coincides with a fault and adjacent intense, texture destructive hematite and silica alteration. Understanding these high-grade structures is essential for upgrading resource potential and identifying focus areas for initial mining. Further to the north, hole JES-25-103 has yielded some of the best results to date on the northwestern edge of the Main Zone where surface mapping has outlined key controlling structures with elevated copper and silver. We look forward to sharing the remaining drill results as they become available."

Figure 1. Planview map of the Main Zone area and immediately north where recent RC drilling has discovered the extension of mineralization along parallel trends. Today's drill results are within the majority owned Main Zone.

Table 1. Summary of Drill Results in today's release. Intervals reported are drilled lengths, the Company will update on estimated true thickness once all new drill data has been processed.

Figure 2. 3D North to South Long-Section of the drilled Main Zone area. Drill results announced today are in red boxes.

Photo 1. Close up of high-grade gold sample (JES-25-104, 1.6 meters of 60.6 g/t Au and 13 g/t Ag, from 87.8m depth vertically from surface). Local faulting and associated intense hematite and silica alteration have replaced the original andesite host rock. This style of mineralization has been recorded across the Main Zone at surface and in drill core.

Table 2. Summary of drill collar locations and orientations. Coordinates are in UTM NAD 27, Zone 12N

Photos 2 & 3. Core photos from JES-25-104 from 87.6 meters to 97.3 meters downhole depth.

Figure 3. Gran Pilar Project Overview, > 22km² of prospective ground with two primary targets: South Block, the direct extension and expansion of the historic Main Zone defined by an expanding vein field of untested drill targets; North Block a 3.2-km by 1.5-km pyrite and clay alteration zone that coincides with high-grade gold-silver, the area remains largely untested.

Pilar Drill Highlights:

• 2024 RC Drilling Highlights include (all lengths are drilled thicknesses):

  • 42.7m @ 1.0 g/t Au, including 3.1m @ 10.9 g/t Au

  • 56.4m @ 1.0 g/t Au, including 3.1m @ 14.7 g/t Au

  • 16.8m @ 0.8 g/t Au and 19 g/t Ag

• 2022 Phase III Diamond Drilling Highlights include (all lengths are drilled thicknesses):

  • 116.9m @ 1.2 g/t Au, including 10.2m @ 12 g/t Au and 23 g/t Ag

  • 108.9m @ 0.8 g/t Au, including 9.4m @ 7.6 g/t Au and 5 g/t Ag

  • 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):

  • 39.7m @ 1.0 g/t Au, including 1.5m @ 14.6 g/t Au

  • 47.7m @ 0.7 g/t Au including 3m @ 5.6 g/t Au and 22 g/t Ag

  • 29m @ 0.7 g/t Au

  • 35.1m @ 0.7 g/t Au

• 2020 Phase I RC Drilling Highlights include (all lengths are drilled thicknesses):

  • 94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;

  • 41.2m @ 1.1 g/t Au, including 3.1m @ 6.0 g/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

• 15,000m of Historic Core & RC drilling. Highlights include:

  • 61.0m @ 0.8 g/t Au

  • 21.0m @ 38.3 g/t Au and 38 g/t Ag

  • 13.0m @ 9.6 g/t Au

  • 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

  • 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

  • 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.

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 mineral 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 majority 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 59 million shares outstanding.

Quality Assurance / Quality Control

Rock and Drill 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 analyzed 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.

Soil 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 and multi-element analysis of soils was completed by aqua regia digestion and ICP-MS finish using a 50-gram nominal weight. Over limit gold values greater than 1 g/t were re-assayed with a more robust aqua regia digestion ad ICP-MS 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 blank samples and certified reference materials were systematically inserted into the sample stream and analyzed as part of the Company's robust quality assurance / quality control protocol.

Brodie A. Sutherland, 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.

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, 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 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: ir@tocvan.ca

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Web: tocvan.com

SOURCE: Tocvan Ventures Corp

View the original press release on ACCESS Newswire

FAQ

What are the latest drilling results from Tocvan Ventures (TCVNF) at Gran Pilar?

Core hole JES-25-104 returned 10.3 g/t Au over 9.7m, including 60.6 g/t Au over 1.6 meters, marking the highest gold grade since the prospect's 1996 discovery.

What are TCVNF's metallurgical recovery rates for gold and silver at the Gran Pilar project?

Metallurgical studies show recovery rates of 95-99% for gold and 73-97% for silver using gravity recovery with agitated leach processing.

What are Tocvan's (TCVNF) development plans for the Gran Pilar project in 2025?

Tocvan plans to establish a pilot facility to process up to 50,000 tonnes of material, starting in early 2025.

What were the results from TCVNF's 2023 bulk sampling program at Gran Pilar?

The bulk sample achieved 62% gold recovery over 46 days, with a head grade of 1.9 g/t Au and 7 g/t Ag, and extracted grade of 1.2 g/t Au and 3 g/t Ag.