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News Article

Tocvan Ventures Optimistic About Latest Drilling Results

By Paloma Duran | Wed, 08/24/2022 - 13:13

Tocvan Ventures reported the latest results from its drilling program at the Pilar silver-gold project in Sonora, Mexico. The company highlighted that the results received from three holes have shown the great potential of the project for new discoveries.

 

The company highlighted that for the ongoing Phase III drilling program at El Pilar, 1,382m have been drilled and seven reverse circulation holes completed. The drilling program has focused on expanding and extending several key targets, leading the company to discover a new trend.

 

So far, the company has only received the results of the first three holes that were drilled in new areas of the Pilar project. The works intercepted alterations and structures that host gold mineralization. Among the main highlights of the drilling program were that the hole JES-22-67 featured 30.5-meters of 0.4g/t Au, including 1.5-meters of 7.6g/t Au. The company explained that although the hole did not return significant mineralization, the presence of veining and alteration indicates that it has exploration potential. Meanwhile, hole JES-22-68 showed 6.6g/t Au and 433g/t Ag, indicating potential for significant mineralization. Results from the remaining four drill holes are pending.

 

“For the first holes, testing these new trends to return anomalous mineralization is an excellent indication there is more to be discovered at Pilar. All three drill holes intersected alteration, quartz-veining and fault structures know to host significant mineralization at Pilar. The information from these holes will assist in leading us toward new discoveries,” said Brodie Sutherland, CEO, Tocvan Ventures.

 

El Pilar and El Picacho are Tocvan’s two Mexican exploration projects. El Pilar is a gold-silver project where to date over 22km of drilling has been completed. It is located in the Sonora Gold District, the country’s most prolific gold production district that houses over 38 percent of the national production. El Picacho is a gold-silver project located 140km norths of Hermosillo, spanning over 2,400ha. Five primary zones of gold-silver mineralization have already been identified at the project.

 

Previously, in an interview with MBN, Sutherland noted that the company's exploration program at Pilar had been remarkably successful. Therefore, he believes it has all the elements to create a high-potential project. “Tocvan Ventures has all the elements needed to create success. With two quality assets and a terrific team, we see tremendous opportunity in Mexico. My goal for this year is to entice local developers to see the potential I see in our projects and make them shareholders of Tocvan. Secondly, I aim to advance Pilar toward its first resource estimate. We are still in an early stage of growth, so there is a lot of opportunity ahead,” said Sutherland.

 

The data used in this article was sourced from:  
MBN, Tocvan Ventures
Photo by:   Matthew de Livera
Paloma Duran Paloma Duran Journalist and Industry Analyst