TheNewswire – September 18, 2019 – Tocvan Ventures Corp (CNSX:TOC.CN) is pleased to provide the following exploration update from its Rogers Creek Project, situated in southwest British Columbia. Highlights include:
– Collection of 48 rock grab samples during reconnaissance program;
– Results included:
– 2.41 g/t Au from Target I;
– 0.15% Cu from Target I;
– 1.92 g/t Au, 0.10% Cu and 25 ppm Ag from a new target area.
– Planned work includes IP survey and follow-up on new target area.
A total of 48 rock grab samples were recently collected during a reconnaissance program. Results yielded values of 2.41 g/t gold, 1.92 g/t gold, and up to 0.15% copper in separate rock samples (Table 1). The 1.92 g/t gold assay is from a new road cut exposure. Follow-up work is recommended to further define the extent of mineralization in this new area. Sample locations are shown in Figure 3 and a summary of results is provided in Table 1.
2019 sample results confirm that Target I, one of four Target Areas on the Property (Figure 1), contains mineralization and alteration inferred to be associated with a porphyry-style Cu-Au-Ag system. Historic surface sampling within Target I returned up to 23.1 g/t Au with 0.5% Cu and 136 ppm Ag (Figure 2).
A single 2.5km long Induced-Polarization (IP) line is scheduled to be surveyed in September to test the northern extent of a chargeability anomaly discovered during a 2015 survey. Historic drilling in 2011 completed along the northern edge of the chargeability anomaly intersected 0.172% Cu over 12.3 m in drill hole MRC-007 (Figure 2). The additional IP line will assist in defining the chargeability anomaly northward and guide future drilling.
About Rogers Creek
On May 24, 2018, Tocvan announced it had entered into an Option Agreement with Carube Copper Corp (Carube) that provides Tocvan the right to earn 80% of the Rogers Creek Property. The Rogers Creek Property covers 212.34 km2 in the Coastal Mountain Belt of British Columbia, approximately 90 km northeast of Vancouver, B.C. The Property consists of four target areas being explored for porphyry-style copper-gold mineralization.
On September 17, 2019 Tocvan and Carube signed an amendment to the original option agreement reducing Tocvan’s Year One minimum work commitment from $200 000 to $100 000. The 2019 IP Survey, together with exploration activity described above will provide for this work commitment. Tocvan is hopeful that encouraging 2019 exploration results will provide basis for a 2020 diamond drill program.
About Tocvan Ventures Corp. Tocvan is a well-structured early stage mineral exploration company. The company works diligently to identify advanced exploration and/or production targets, while striving to minimize dilution to its capital structure as much as possible. Tocvan has approximately 10.3 million shares issued and outstanding and has been working to identify additional advanced stage exploration properties since inception.
Samples collected in the field involve a quality assurance and a quality control (QA/QC) program appropriate for grassroots exploration. Certified reference material was inserted into the sample stream at a frequency of one for every twenty samples. Rock samples are selective in nature and not representative of the mineralization across the property. All samples were sent to ALS Geochemistry in North Vancouver, BC. Rocks samples were analyzed using inductively coupled plasma (ICP) for gold on a 30g pulp split (ALS Code: Au-ICP21) and ICP (ALS Code: ME-MS61) for 60 elements. Locations of samples were collected by handheld GPS.
The technical information in this news release has been prepared or approved by Brodie A. Sutherland, P.Geo., Independent Director, of the Company, a “qualified person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
For more information please contact Derek Wood CEO@ 403-668-7855 firstname.lastname@example.org
Cautionary Statement Regarding Forward Looking Statements
This news release contains “forward-looking information” which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Forward-looking information in this news 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 expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.
These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which 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. Such factors include, among others, risks related to the speculative nature of the Company’s business, the Company’s formative stage of development and the Company’s financial position.
Forward-looking statements contained herein are made as of the date of this news 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 as may be required by applicable 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.
Figure 1. Map of Rogers Creek Property and the four primary Target Zones.
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Figure 2. Historic compilation map of Targets I & II. 2019 reconnaissance rock sample highlights shown with planned IP Line (in yellow).
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Table 1. Highlights from 2019 reconnaissance field program. Total of 48 rocks collected, 19 of which were collected for whole rock lithogeochemistry.
|Y993504||Rock||quartz with pyrite, in altered granodiorite||0.451||36.8||610||5760||5410|
|Y993507||Rock||Breccia limonite, sericite, and clay, along fractures.||0.07||4.55||174.5||308||147|
|Y993508||Rock||brecciated interval within, propylitic breccia||0.038||2.28||154||189||79|
|Y993509||Rock||breccia showing intense clay alteration||2.41||12||526||1645||472|
|Y993510||Rock||albite(?) altered, granodiorite with disseminated pyrite and chalcopyrite||0.008||2.28||1535||128.5||289|
|Y993514||Rock||patches of chalcopyrite along a chlorite fracture surface||0.058||1.16||295||79.2||378|
|Y993515||Rock||fractures with abundant pyrite and chalcopyrite||1.92||25.5||1015||1080||874|
|Y993516||Rock||fractures with abundant pyrite and chalcopyrite||0.04||9.92||1140||723||557|
|Y993517||Rock||Vuggy quartz vein (drusy quartz + sericite + dark red hematite + limonite)||0.085||4.03||162||61.8||32|
|Y993518||Rock||fractures and veins with pyrite associated with dark purple-red hematite alteration and abundant sericite||0.039||7.47||807||313||174|
|Y993521||Rock||pervasively altered (brecciated?) vein with abundant sericite, hosted in hornblende-biotite granodiorite||0.023||18.9||331||439||197|
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