Tocvan Ventures Corp. announced results from its road accessible Picacho gold-silver project in the mine-friendly State of Sonora, Mexico. A short surface program was completed at Picacho to assess additional potential across the large 24-square kilometer property.

A total of 75 rock chip samples were collected, averaging 0.6 g/t Au and 2 g/t Ag with the values up to 15.9 g/t Au and 32 g/t Ag. A new mineralized trend extending over 1.6-kilometers in length has been discovered marked by old historic workings and exposure of mineralized veins and shear zones. The Picacho Gold-Silver property is interpreted as an orogenic gold system within the regional Caborca Gold Belt known for producing gold mines that include La Herradura (>10 Moz Au) and San Francisco (>3 Moz Au).

The project is 140 kilometers north of Hermosillo and only 18 kilometers southwest of the past producing San Francisco Mine. The Project totals 24 square kilometers. Six primary zones of mineralization have been identified across the property totalling over seven kilometers of prospective trends.

Surface sampling and historic workings have identified high-grade gold and silver values. In 2022, Tocvan drilled a maiden drill program at the San Ramon prospect returning 12.2-meters of 2.0 g/t Au and 7 g/t Ag. Tocvan believes Picacho provides an excellent opportunity for discovery of a muti-million ounce district.

Advancement in 2023 continued with the Company's maiden drill program at Picacho discovering at surface gold and silver mineralization at the San Ramon prospect. Drilling returned 44.2-meters of 0.6 g/t Au, including 12.2-meters of 2.0 g/t Au and 7 g/t Ag. 200-meters to the north a hole interse cted 27.5-meters of 0.5 g/t Au, including 12.2-meters of 1.1 g/t Au.

The San Ramon prospect remains open for drill targeting in all directions. At Pilar, a bulk sample was extracted and shipped (1,400 tonnes) to a nearby processing mill for crushing and stacking for heap leach. Heap leaching was conducted over a 46-day period returning a head grade of 1.9 g/t Au and 7 g/t Ag with an initial recovery of 62% for gold.

Agitated bottle roll test of the bulk sample material returned 80% recovery of gold and 94% recovery of silver after a rapid 24-hour retention time. Additional surface and core composites from across Pilar returned 95 to 99% recovery of gold and between 73 to 97% recovery of silver through combined gravity and agitated leach processing. An initial doré bar was later poured from the bulk sample material totalling 1.487 kilograms, containing 18% gold and 69% silver.

A second gold-rich doré bar is scheduled to be poured this month. Channel sampling of newly opened trenches at Pilar returned similar values to the bulk sample highlighted by 20-meters of 1.9 g/t Au and 9 g/t Ag. A property wide LiDAR survey that will be used for the base map for mine design at Pilar is near completion.

Additional reconnaissance sampling across Pilar and Picacho projects are ongoing to advance target areas, results for initial samples are pending.