Tocvan Ventures hat die Option, 100 % des Konzessionsgebiets Pilar zu erwerben, das sich 140 Kilometer südöstlich der Stadt Hermosillo im historischen Golddistrikt Sonora in Mexiko befindet. Das Gold-Silber-Konzessionsgebiet Pilar wird als strukturell kontrolliertes epithermales Projekt mit geringer Sulfidierung interpretiert, das in Andesitgesteinen angesiedelt ist.
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I’m Katriina Cotten for Investmentpitch Media
Tocvan Ventures Corp. has provided summary of Phase II drill program and outlines next steps for Pilar Gold-Silver Project in Mexico.
Tocvan has an option to acquire 100% of the Pilar property, located 140 kilometers south-east of the city of Hermosillo in the historic Sonora gold district in Mexico.
The Pilar Gold-Silver property is interpreted as a structurally controlled low-sulphidation epithermal project hosted in andesite rocks.
Three zones of mineralization have been identified in the north-west part of the property from historic surface work and drilling and are referred to as the Main Zone, North Hill Zone and 4-Trench Zone.
Structural features and zones of mineralization within the structures follow an overall NW-SE trend of mineralization.
A Phase II drill program was completed in June with over 3,500 meters of reverse circulation drilling in twenty drill holes.
Drilling was successful in three key target areas: the Main Zone Expansion, 30 meters to the northwest and a total of 150 meters to the southeast; the 4 Trench Zone, definition of a new mineralized trend over a 500 meter strike, parallel to the Main Zone; and the Triple Vein Zone, where the one hole drilled intersected a narrow silver-rich zone with gold.
Management believes the results for the Phase II program are encouraging and warrant further drill definition to continue to expand the know areas of gold/silver mineralization at Pilar.
Highlights from the Phase II program are shown here.
At the Main Zone, 4 holes returned results such as hole 21-38 with 3.1 meters at 2.6 grams per tonne gold,
And 6.1 meters at 1.9 grams per tonne gold,
And 9.2 meters at 1.3 grams per tonne gold and 14 grams per tonne silver
Hole 21-43 with 13.7 meters at 1.7 grams per tonne gold,
Including 3.1 meters at 6.8 grams per tonne gold and 7 grams per tonne silver
Hole 21-47 with 12.2 meters at 1.1 grams per tonne and 12 grams per tonne silver,
And 3.1 meters at 5.6 grams per tonne gold and 22 grams per tonne silver
Hole 21-50 with 12.2 meters at 3.0 grams per tonne gold and 6 grams per tonne silver,
Including 1.5 meters at 14.6 grams per tonne gold and 11 grams per tonne silver
At the 4 Trench Zone, hole 21-53 returned 4.6 meters at 2.4 grams per tonne gold and 3 grams per tonne gold,
Including 1.5 meters at 4.6 grams per tonne gold at 3 grams per tonne silver.
At the Triple Vein Zone, hole 21-56 returned 1.5 meters at 0.57 grams per tonne gold and 139 grams per tonne silver
Significant results from the 2020 Phase I RC Drilling Highlights are shown here.
94.6 meters @ 1.6 g/t gold, including a high-grade core of 9.2 meters @ 10.8 g/t gold and 38 g/t silver
41.2 meters @ 1.1 g/t gold, including a high-grade core of 3.1 meters @ 6.0g/t gold and 12 g/t silver
24.4 meters @ 2.5 g/t gold and 73 g/t silver, including a high-grade core of 1.5 meters @ 33.4 g/t gold and 1,090 g/t silver
Highlights from 17,700 meters of Historic Core & RC drilling by previous operators include:
61.0 meters @ 0.8 g/t gold
16.5 meters @ 53.5 g/t gold and 53 g/t silver
13.0 meters @ 9.6 g/t gold
9.0 meters @ 10.2 g/t gold and 46 g/t silver
With permits in place for planned trench and drill programs, Tocvan plans to initiate its next phase of exploration with the start of a trenching program in October of this year to better define surface mineralization and provide material for initial bulk sampling.
Immediately following trenching, a Phase III drill program of a similar scope to Phase II will continue the advancement of the project.
The company also has an option to acquire up to an 80% interest in the Rogers Creek Property, which covers approximately 212 square kilometers in the Coastal Mountain Belt of British Columbia, about 90 kilometers northeast of Vancouver, in the Lillooet Mining District.
The shares are trading a $1.13 with approximately 28 million shares outstanding.
For more information please visit the company’s website www.tocvan.com, contact Derek Wood, President and CEO at 403-200-3569 or email dwood@tocvan.ca.
I’m Katriina Cotten for Investmentpitch Media
