Metals Update 15/06/2021

Tocvan drills 35.1 m of 0.72 g/t AuEq at Pilar

Tocvan Ventures Corp. has released the results for the next four drill holes from its phase 2 drill program at the Pilar gold-silver project in Sonora, Mexico. A phase 2 drill program is currently in progress with 3,500 metres of reverse circulation (RC) drilling in 20 drill holes. Results for four drill holes are included in this release, highlighted by drill hole JES-21-43, which returned 35.1 metres at 0.66 gram per tonne gold and six g/t silver (0.72 g/t gold equivalent). Thirteen drill holes are pending assay results.

Drill result highlights

JES-21-43:

  • 35.1 metres at 0.66 g/t Au and six g/t Ag (0.72 g/t AuEq) from 97.6 to 132.7 metres:
    • Including 13.7 metres at 1.7 g/t Au from 119 to 132.7 metres;
    • Including 3.1 metres at 6.8 g/t Au and seven g/t Ag from 119 to 122 metres;
    • Also including an upper elevated Ag zone, 7.6 metres at 17 g/t Ag from 97.6 to 105.2 metres.

“JES-21-43 is a significant stepout to our Main zone, 100 metres east of our phase 1 drill hole JES-20-32,” commented vice-president, exploration, Brodie Sutherland. “This not only expands the potential width of our Main zone but also shows a continuation of mineralization down dip towards the east. Pending assay results for the remaining drill holes includes a series of holes stepped further east to test the 4 Trench extension and the continuation of mineralization at depth.”

Results discussion

JES-21-40

The hole was planned to test the Main zone at depth and to the east. Drilling intersected a broad low-grade zone from surface of 58 m of 0.19 g/t Au. Drill holes JES-20-33 (41.2 m at 1.14 g/t Au) and JES-13-15 (34.5 m at 1.27 g/t Au) through the same area of the Main zone intersected higher grade but were drilled from the opposite direction of JES-21-40, suggesting drilling from the east to the west through the zone is the optimal angle for intersecting mineralized structure.

JES-21-41

The hole was planned to test 50 m downdip of drill hole JES-20-32, which returned 94.6 m at 1.6 g/t Au. Several zones of anomalous gold were intersected, including three m of 0.54 g/t AuEq, 4.6 m of 0.43 g/t AuEq, 1.5 m of 0.54 g/t AuEq and, near the bottom of the hole from 199.8 to 212 m, 12.2 m of 0.28 g/t AuEq. The results from JES-21-43 suggest mineralization can widen with depth as the system dips to the east; stepping out to the east of this area remains a strong target for drill testing.

JES-21-42

The hole was planned to test quartz veining and alteration recorded at surface along the 4 Trench extension in a new corridor with little previous drilling. Anomalous gold was intersected, highlighted by 1.5 m at 0.46 g/t Au and five g/t Ag.

JES-21-43

The hole was planned to test the eastern extent of the Main zone, which correlates with a resistivity anomaly from a CSAMT (controlled-source audio magnetotelluric) survey. An oxide zone with quartz veinlets was recorded from 41 m depth to 93 m followed by several quartz veins in oxidized andesite from 93 m to 130 m. The company drilled 35.1 m at 0.66 g/t Au and six g/t Ag from 97.6 m to 132.7 m. The interval is significant as it is spatially 100 m to the east of drill hole JES-20-32 and historic drill hole JES-18-19, both of which returned grades above 0.75 g/t Au over wide intervals.

                       SUMMARY OF DRILL RESULTS

Hole ID            From         To    Width*        Au        Ag       AuEq
                    (m)        (m)       (m)     (g/t)     (g/t)      (g/t)

JES-21-40          1.52      59.48     57.96      0.19         1       0.20
JES-21-41         44.23      47.27      3.04      0.36        17       0.54
and               65.58      70.15      4.57      0.39         4       0.43
and               85.40      86.92      1.52      0.47         7       0.54
and              199.78     211.97     12.19      0.19         4       0.24
JES-21-42         12.20      13.72      1.52      0.46         5       0.51
JES-21-43         97.60     132.68     35.08      0.66         6       0.72
including        118.95     132.68     13.73      1.65         3       1.68
including        118.95     122.00      3.05      6.79         7       6.87
also              97.60     105.22      7.62      0.01        16       0.19
    
* Insufficient drilling has been undertaken to determine true 
widths. All widths reported are core length. Gold equivalent
(AuEq) is calculated using metal prices of $1,700 per ounce gold 
and $18/oz silver.