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Tocvan Drills 116.9-meters of 1.2 g/t Au and 7 g/t Ag, including 10.2-meters of 12 g/t Au and 23 g/t Ag at Pilar.

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Tocvan Drills 116.9-meters of 1.2 g/t Au and 7 g/t Ag, including 10.2-meters of 12 g/t Au and 23 g/t Ag at Pilar.

 

 

 

 

 

Tocvan Ventures Corp. (CSE: TOC) (OTCQB: TCVNF) (FSE: TV3), is pleased to announce drill results from its Pilar Au-Ag Project in Sonora, Mexico. Results for drill hole JES-22-59 are provided in this release, a core twin of RC drill hole JES-20-32 which returned 94.6-meters at 1.6 g/t Au (see Figure 1). Drill hole JES-22-59 was previously mentioned in a news release (see NR February 15, 2022) where a mineralized breccia host was observed in drill core correlating to the Main Zone at Pilar. JES-22-59 returned 116.9-meters at 1.2 g/t Au and 7 g/t Ag, including an impressive 48.1-meters at 2.8 g/t Au and 9 g/t Ag. High-grade gold-silver mineralization was recorded adjacent to a heavily faulted and altered zone returning 10.2-meters at 12.0 g/t Au and 23 g/t Ag, including 4.2-meters at 28.3 g/t Au and 49 g/t Ag.

 

 

A total of 1,562 meters of Phase III drilling has been completed in nine drill holes providing key information across the Main Zone and 4-T Trend. Results for five drill holes are pending.

 

 

Drill Highlights

 

JES-22-59 (Core)

  • 116.9m at 1.2 g/t Au and 7 g/t Ag

o  Including 48.1m at 2.8 g/t Au and 9 g/t Ag

o  Including 10.2m at 12.0 g/t Au and 23 g/t Ag

o  Including 4.2m at 28.3 g/t Au and 49 g/t Ag

 

 

 “Once again core drilling has confirmed the significant grade and distribution of gold-silver mineralization at Pilar”, commented Brodie Sutherland, CEO.This further validates the strength of the shallow mineralized system at Pilar, especially in regard to the significant high-grade mineralization adjacent to controlling structures. We look forward to reviewing the remaining results that test the extension of these controlling faults to the southeast.”

 

 

 AGM Summary and Results

The Company is pleased to announce the results of voting at its Annual General Meeting of Shareholders held Friday, April 8, 2022, in Calgary, Canada.

Shareholders voted in favour of all items put forward:

 

  • The appointment of the Board of Directors and fixing the Board size to five.
  • The approval of audited Financial Statements.
  • The appointment of Dale Matheson Carr-Hilton Labonte LLP, as Auditors of the Company for the ensuing year with the provision that the auditors remuneration be fixed by the board of directors.
  • Ratifying and approving the continuation of the incentive Stock Option Plan of the Corporation.

 

 

A total of 4,055,973 Tocvan common shares were voted, representing 12.79% of total shares

issued and outstanding as at the record date of the meeting.

 

 

The Company announced at the meeting a webinar will be scheduled for mid-May to go over recent drill results and outline next steps for Pilar and El Picacho.

The Company also commented on the Rogers Creek Property transaction, a detailed update will be provided once the deal is nearing completion. The transaction is going forward and is planned to be executed in Q2-Q3 of 2022, unlocking the value of the Rogers Creek property to all shareholders of Tocvan in a new copper focused company (see NR September 30, 2021).

Posted April 18, 2022

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