Tocvan Releases New Gold – Silver Channel Sample Results from Pilar Returns

Highlights

• Tocvan Ventures Overview
• Channel Sample Highlights Return:
  • TR-2023-02: 20.0 m @ 1.9 g/t Au and 9 g/t Ag
  • TR-2023-03: 14.0 m @ 1.9 g/t Au and 9 g/t Ag
    • Including, 6.0 m @ 3.7 g/t Au and 17 g/t Ag
• 36 Channel Samples Totaling 72.0 meters, averaging 1.1 g/t Au and 9 g/t Ag
  • Gold values up to 2-meters of 6.6 g/t Au; Silver values up to 2-meters of 36 g/t Ag

CALGARY, AB / ACCESSWIRE / December 13, 2023 / Tocvan Ventures Corp. (the “Company“) (CSE:TOC)(OTCQB: TCVNF)(FSE:TV3), is pleased to announce trench channel sample results from its Pilar gold-silver project in Sonora, Mexico. A total of four trenches cut during the recently completed Bulk Sample were channel sampled along the new rock face exposures at two meter sample intervals. The results at two of the Main Zone trenches yielded consistent values to the head-grade calculated during the Bulk Sample, with gold averaging 1.9 g/t Au over total channel lengths of 14-meters and 20-meters. As indicated by surface mapping and assay results, all trenches remain open for continued mineralization along their respective trends. Results will be compiled and used with drill data for the initial resource estimate for Pilar. Work is currently underway to evaluate optimal drill locations to rapidly advance a resource estimate at Pilar. Pilar is currently permitted for 83 drill pads to assist in this evaluation. In the new acquisition area adjacent to Pilar, assessment work is being conducted to prioritize target areas for additional resource potential. Active placer mining activity has opened up new gold source areas spanning multi-kilometer trends all now controlled by the Company. Limited evaluation work has been conducted in these areas and due to the proximity to Pilar will become a focus for future resource expansion.

“Results from channel sampling at Pilar further confirm the excellent bulk tonnage grade potential at surface.” stated Brodie Sutherland, CEO. “These locations were the source of recent bulk sample material in which we poured the first produced gold and silver from Pilar. More work is scheduled to evaluate additional recovery potential with the remaining bulk sample material. We are continuing to take critical steps towards resource estimation and mine development permitting whilst evaluating the additional upside potential of our now expanded Pilar project area. 2024 will be our biggest year yet with us targeting key development milestones.”

Discussion of Results

The channel sample results presented in today’s release are collected from exposed trench cut faces after bulk sample extraction at four separate trenches across the project. Three trenches (TR-2023-01 to TR-2023-03) are located at the Main Zone showing. One trench (TR-2023-07) is located at the 4-T showing. Summary of the results are provided in Table 1. Table 2 provides a summary of the estimated total tonnes extracted from each trench for bulk sampling. Approximately half or 700 tonnes of material from all four trenches was blended and used in the first bulk sample (summarized in news release, August 22, 2023). The head-grade determined for the bulk sample is comparable to the grades seen in Main Zone trenches TR-2023-02 and TR-2023-03. Although results from trenches TR-2023-01 and TR-2023-07 were lower than expected, channel sampling conducted prior to the bulk sample at the same locations yielded higher results with up to 8.3 g/t Au in trench TR-2023-01 and 7.3 g/t Au in TR-2023-07 (see news release February 23, 2023). This indicates grade variance due to exposed higher grade veins and structures during each phase of sampling. However overall grade appears to be consistently above 1.8 g/t Au after the blending of the bulk sample material. The remaining bulk sample material has been stockpiled for evaluation of alternate recovery methods including gravity and agitated leach, both which have shown significant increases in recoverable gold and silver from material at Pilar (see news release April 11, 2023). The Company plans to carry on these studies in 2024.

Table 1. Results from Trench Channel Sample Results at Pilar. The four trenches highlighted below were collectively the location of the now completed Bulk Sample.

Table 2. Location of and total weight of material extracted and transported for the completed Bulk Sample. Bulk Sample…