Tocvan describes the San Ramon prospect at El Picacho as a high priority drill target. 90 meter underground pipe with average rock chip samples of 5 g/t Au, values ​​up to 22 g/t Au – Tocvan Ventures (OTC:TCVNF)

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Calgary, AB – TheNewswire – September 13, 2022 – Tocvan Ventures Corp. (the company”) Contents; TCVNF; (FSE: TV3), is pleased to announce the completion of data compilation and surface evaluation of the San Ramon prospect within the El Picacho gold-silver project in Sonora, Mexico. Historical underground sampling conducted by Timmins Gold in 2008, returned 23 one to two meter rock chip samples ranging from 0.3 g/t Au to 22 g/t Au with Ag values ​​up to 26 g/t (see Figure 1). Subsequent sampling in 2016 by Millrock confirmed the high-grade results with five rock chip samples returning between 2.0 g/t Au to 18 g/t Au. The underground pipe is believed to have been completed between the 1950s and 1970s. A second underground workings 250 meters to the north have returned nine rock chip samples ranging from 0.5 g/t Au to 8.2 g/t Au with Ag values ​​up to 32 g/t (see Tables 1 and 2 for results). At San Ramon, high grade gold values ​​are recorded at surface over a 500 meter trend along a regional thrust fault contact. The priority drill target area includes this trend plus the down-dip extension along the fault at depth to the west over 500 meters. The regional thrust fault is believed to be a major conduit for mineralization and older Precambrian gneiss and younger Jurassic sediments beneath the fault show indications of strong alteration and high grade mineralization.

Figure 1. Plan view of the San Ramon Prospect, highlighting high-grade mineralization


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“The data clearly shows that San Ramon is a high priority target showing surface mineralization at a minimum depth of 60 meters, on a trend of 500 meters and open in all directions.”, commented CEO, Brodie Sutherland. “Previous work has reduced the risk of this target as we know the mineralization extends at depth from historical drill logs. The high grade gold and silver observed at surface and recorded in underground work confirm the presence of a robust system. Follow-up grid drilling of the zone will be a priority for the development of El Picacho.”

Figure 2. Plan View and X-Section of the San Ramon Underground Walkway. The high grade mineralization is open at depth and laterally.


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Discussion

The San Ramon prospect has significant historic workings which include two underground workings believed to have been completed between the 1950s and 1970s. Subsurface sampling by former operators revealed consistent high-grade gold and silver in silicified quartz-carbonate veins hosted in shear zones parallel to a large regional fault that dips slightly to the west. Mineralization does not appear to be isolated from Precambrian gneiss host rocks in the hanging wall of the fault, but also present in younger Jurassic (dolomite sandstone) sediments in the footwall. This is most evident 1.4 kilometers to the south at the Murcielago prospect where the mineralization is hosted in dolomite breccia.

The target area currently consists of a 500 meter by 500 meter area concentrated around historic south trending workings along a regional fault contact. Reconnaissance drilling by Timmins Gold in 2012 and 2013 identified several mineralized horizons (low angle shear zones) containing gold and silver mineralization to a depth of 60 metres. These shear zones align with high-grade mineralization exposed at surface and sampled in underground workings. Although follow-up grid drilling has been planned, due to Timmins Gold budget constraints and near-mine exploration priorities, no follow-up work has been completed on the San Ramon prospect. The Company believes that past drilling has proven the pattern of continued mineralization at depth and that follow-up drilling is required to intersect the higher grades recorded from the underground workings. The San Francisco deposit is hosted in the same rock type as the San Ramon deposit and is related to similar regional faults. With the end of the rainy season in Sonora, planning is underway to start drilling in San Ramon as soon as possible.


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Prospect Highlights

Two historic underground sites

  1. 90 meter underground drive, chip samples returned from 0.3 to 22 g/t Au over the length of the trip. With an average of 5.0 g/t Au and 8 g/t Ag.

  2. Historic shaft and gallery, chip samples returned from 0.5 to 8 g/t Au over an area of ​​20 meters by 30 meters. With an average of 3.6 g/t Au and 10 g/t Ag.See Figure 1 and Table 2

Table 2. Summary of rock chip samples from underground workings at San Ramon Prospect

Table 1. Summary of rock chip samples from a 90 meter underground pipe at San Ramon Prospect


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Coordinate system: WGS84, Zone 12. Historical samples were taken from 1-2 meter chips.

Three historical reconnaissance drill holes (Timmins Gold, 2012) have been completed. The three mineralizations intersected. No follow-up work was done due to a halt in regional exploration by Timmins Gold at the time.

RCP-09

  • 59.3 m of 0.2 g/t Au, from surface

    • Incl., 12.2 m at 0.6 g/t Au, from 21.3m

    • Incl. 7.6 m at 0.9 g/t Au

    • Incl., 4.6 m at 1.4 g/t Au

  • And, 3.0 m of 0.7 g/t Au,from 56.2m

PD-01

PD-02

Figure 3. X section of the San Ramon prospect and the RCP-09 borehole. The borehole was lost at 88.4 meters, failing to test the lower sediment host target horizon.


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Figure 4. Schematic X-section of the El Picacho exploration pattern showing potential across several untested trends. The San Ramon target outcrops on surface and was intersected at a vertical depth of 60 meters. The outline of the San Francisco pit is used for reference only. The drill traces shown are conceptual based on the exploration model.


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Figure 5. General map of the El Picacho Gold-Silver project


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About the Picacho Property

The El Picacho Gold-Silver property is interpreted as an orogenic gold system within the Caborca ​​regional orogenic gold belt known to produce gold mines that include La Herradura (>10 Moz Au) and San Francisco (>3 Moz Au ). The project is located 140 kilometers north of Hermosillo and only 18 kilometers southwest of the producing San Francisco mine. The project totals 24 square kilometers. Five main zones of mineralization have been identified on the property totaling over six kilometers of prospective trends. Surface sampling and historical work have identified high grade gold and silver values. The project saw only widely spaced reconnaissance drilling with no follow-up. Tocvan thinks this is a great opportunity to experience a multi-million ounce district.

About Tocvan Ventures Corp..

Tocvan is a well-structured exploration development company. Tocvan was created to capitalize on the prolonged downturn in the junior mining exploration sector, by identifying and brokering interest in opportunities where management feels they can build on past success. Tocvan has approximately 36 million shares outstanding and is gaining 100% in two attractive opportunities in Sonora, Mexico: the Pilar Gold-Silver project and the El Picacho Gold-Silver project. Management believes that both projects represent a tremendous opportunity to create shareholder value.

Brodie A. Sutherland, P.Geo., CEO of Tocvan Ventures Corp. and a Qualified Person (“QP”) as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this release.

Caution Regarding Forward-Looking Statements

This press release contains “forward-looking information” which may include, but is not limited to, statements regarding activities, events or developments that the Company expects or anticipates will or may occur in the coming. Forward-looking information in this press 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 planned”, “budget”, “expected”, “estimates”. , “predictions”, “intends”, “anticipates” or “believes” or variations (including negative variations) of these words and phrases, or state that certain actions, events or results “may”, ” could”, “could” or “will” be taken, occur or be carried out.

These forward-looking statements, and any assumptions on which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management considers these assumptions to be reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors that 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. These factors include, among others, risks related to the speculative nature of the Company’s business, the Company’s stage of development and the Company’s financial condition. The forward-looking statements contained herein are made as of the date of this press 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 if it may be required by 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 Pender Street West

Vancouver, BC V6E 4A4

Phone: 1 888 772 2452

E-mail: go@tocvan.ca

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