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Tocvan commences drill program at the Pilar Project in Sonora, Mexico

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Phase I plans for up to 1,500 meters of reverse circulation drilling utilizing one drill rig at the Pilar Main Zone which will provide important structural data to incorporate into the recently interpreted deep feeder zones and controlling north-south faults.

Additional Information:

Company: Tocvan Ventures Corp.
Website: http://www.tocvan.ca
Stock Symbol: CSE:TOC
Date Published: Dec 2, 2020
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Tocvan Ventures Corp. announced the start-up of its maiden drill program at its Pilar Gold-Silver Project in Mexico.

Tocvan has an option to acquire 100% of the Pilar property, located 140 kilometers south-east of the city of Hermosillo in the historic Sonora gold district in Mexico.

Derek Wood, President and CEO, stated: "We are excited to start our first drill program and continue to show the potential of Pilar. Tocvan's work over the past year has generated new target areas and shown great potential for deeper mineralization. Phase I drilling will focus on expanding known mineralization within the Main Zone whilst acquiring important data to continue advancing the new target areas for later drilling. Field crews are on-site with COVID-19 mitigation plans in place and are ready to commence drilling."

Phase I plans for up to 1,500 meters of reverse circulation drilling utilizing one drill rig at the Pilar Main Zone which will provide important structural data to incorporate into the recently interpreted deep feeder zones and controlling north-south faults.

The results of Phase I will be used to define deeper drill targets, greater than 125 meters and delineate key structures for exploring on trend and parallel to the Main Zone.

A Phase II program will utilize the key structural data acquired in Phase I to begin testing the feeder-pipe structures interpreted from ground geophysical surveys.

In addition, drilling is planned at the Pilar Main Zone to expand the area of known mineralization, building upon the success of previous drill programs.

Plans include step-out drilling of drill holes JESP-13-15 and JES-18-24 with JESP-13-15 intersecting 34.5 meters grading 1.3 grams per tonne gold, including 3 meters grading 9.5 grams per tonne gold and 28 grams per tonne silver, and 21 meters grading 0.83 grams per tonne gold.

Hole JES-18-24 intersected 48 meters grading 0.87 grams per tonne gold including 1.5 meters grading 17.3 grams per tonne gold.

Confirmation drilling of historic drill holes from 1996 and 1997 will also be completed so this data can be included in future resources estimation.

Three zones of mineralization have been 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 Trench.

Additional areas of mineralization have been identified from surface rock-grab-sample assay results that extend known mineralized trends and show a second northwest-southeast trend of mineralization to the east.

More than 17,700 meters of drilling have been completed to date with significant results from previous operators highlighted here.

Tocvan announced that Mark T. Smethurst will be stepping down from his role as COO but will remain on the Tocvan Board of Directors as an important advisor to the Corporation.

Current Director, Brodie A. Sutherland who has fourteen years experience managing exploration and resource definition drill programs across the globe will be taking over as VP Exploration and seeing to the advancement of the Pilar Project.

Derek Wood, President and CEO, added: "Tocvan would like to thank Mr. Smethurst for his role in developing the Pilar Project to date. As the Pilar Project advances we are excited to have Mr. Sutherland take on a management role to see to the continued development of Pilar."

The company also has an option to acquire up to an 80% interest in the Rogers Creek Property, which covers approximately 212 square kilometers in the Coastal Mountain Belt of British Columbia, about 90 kilometers northeast of Vancouver, in the Lillooet Mining District.

The shares are trading a $0.425 with approximately 24.5 million shares outstanding.

For more information please visit the company’s website www.tocvan.ca, contact Derek Wood, President and CEO at 403-200-3569 or email dwood@tocvan.ca.

I’m Cassandra Bolinski for Investmentpitch Media