Calgary, Alberta - September 15, 2021 - Tocvan Ventures (CNSX:TOC.CN) (OTC:TCVNF) (WKN:TV3/A2PE64), is pleased to announce the company has completed their due diligence process and completed and executed the final agreement to acquire Millrock Resources’ option to acquire up to 100% interest in the El Picacho mining concessions located in the state of Sonora, Mexico.
The Project is located 140 kilometers north of Hermosillo in Sonora, Mexico and is fully accessible by road. Extensive surface exploration has been conducted historically defining five gold targets on the project. Millrock and Tocvan believe these targets will be ready for drill testing with surface confirmation via trenching. A permit is currently active to allow for trenching and drilling on the Project.
About El Picacho
Location and Infrastructure
- Total Area: 2,413.7 ha
- Road accessible, 140 km north-northwest of Hermosillo
- Excellent Road access. Railroad on eastern edge of Project
- 18 km southwest of San Francisco Mine.
Historic Work Summary
- Five Orogenic Gold Targets Defined: San Ramon, Tortuga, El Peurto, La Cornea, and El Jabali (see Figure 2)
- 2,650 rock samples collected
- Regional Scale mapping completed
- 3,548 soil samples collected, covering Project Area
- 70% of area covered by ground magnetic survey
- 17.8 line-km of IP surveys
- Limited drilling completed, widely spaced
- Fully permitted for drilling and trenching
Derek Wood CEO of Tocvan Ventures Commented “We are very please to have negotiated and completed this agreement with Millrock. This is a prime example of the ability of Tocvan to negotiate transactions which we believe add significant accretive value to Tocvan shareholders, while allowing previous operators and landowners to benefit greatly from a successful outcome as Tocvan works to de-risk the property toward economic viability. We like to create win-win opportunities for all stake holders and feel that we have accomplished this with execution of this agreement.”
