Derzeit läuft ein Phase-II-Bohrprogramm mit 2.900 Metern Reverse-Circulation-Bohrung in 17 bis dato fertiggestellten Bohrlöchern.
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I’m Cassandra Bolinski for Investmentpitch Media
Tocvan Ventures Corp. announced results for the first three holes from its Phase II drill program at the 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 is currently in progress with 2,900 meters of reverse circulation drilling in 17 drill holes completed to date.
The 3 holes release today are shown in green, with assay results for 14 drill holes shown in red still pending.
JES-21-37 tested a CSAMT resistivity anomaly that correlated with surface quartz veins.
A 6.1m zone was intersected with 0.52 g/t gold equivalent, followed by a second zone of 4.6m at 0.62 g/t gold equivalent.
Consistent with surface observations and other drill holes in the area, copper values were elevated in this hole with one interval returning 1.5m at 1.1 g/t gold, 24 g/t silver and 1.2% copper.
JES-21-38 tested the continuation of mineralization intersected in drill hole JES-20-36 and to test 25m up dip and further east of historic drill hole R-8, which intersected 40.4m at 1.4 g/t gold, including 3m at 10.9 g/t gold and 117 g/t silver.
Two zones of significant mineralization were intersected, 29m at 0.71 g/t gold, starting at surface, and 24.4m at 0.56 g/t gold.
Higher silver values were intersected in the deeper interval with a 3m zone grading 1.5 g/t gold and 34 g/t silver.
JES21-39 tested quartz veining and alteration recorded at surface to the west of the Main Zone which directly correlated with an IP anomaly and also to confirm the location of the regional fault bounded biotite granodiorite that lies to the west of the Main Zone.
Anomalous gold values from 0.18 to 0.47 g/t gold were intersected in the andesite and granodiorite host rocks.
Soil and rock sampling results from undrilled areas indicate mineralization extends towards the southeast from the Main Zone and 4-Trench Zone.
Recent Surface exploration has defined three new target areas: Triple Vein Zone, SE Vein Zone and 4 Trench Extension.
This table summarizes these three holes.
Brodie Sutherland, VP Exploration, stated: “We are extremely pleased with these early stage results. As we advance north of the Main Zone we are finding significant mineralization. We are especially excited to see the continuation of mineralization 30m on strike with our previous drill hole JES-20-36, which intersected 24.2m at 2.5 g/t Au and 73 g/t Ag. Pending assay results for the remaining drill holes will largely focus on our new target areas as we continue to unlock the potential of Pilar.”
Significant results from the 2020 Phase I RC Drilling Highlights are shown here.
94.6 meters @ 1.6 g/t gold, including 9.2 meters @ 10.8 g/t gold and 38 g/t silver
41.2 meters @ 1.1 g/t gold, including 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 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
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.
Tocvan has applied for an OTCQB listing in addition to applying for DTC eligibility.
The shares are trading a $1.40 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 Cassandra Bolinski for Investmentpitch Media
