Tocvan Ventures (CSE:TOC) Completes 3,268 Meters of Drilling at Pilar Gold-Silver Project, Plans Summer Exploration Program


Tocvan Ventures (CSE:TOC) has released an update on its 2024 drilling program at the Pilar Gold-Silver project in Sonora, Mexico.

“We are extremely pleased with the progress of the 2024 drill program, having completed 3.3 kilometers of the planned seven kilometers of drilling at Pilar already.” commented Brodie Sutherland, CEO. “So far this year, we have hit the most significant step-outs ever at Pilar. With more results pending we are looking forward to the remaining half of the year. To enhance our understanding of Pilar and build out our geologic model, core drilling will be implemented again at Pilar. In 2022, an initial core program yielded some of the best results ever from the Main Zone, we look to continue that work this year. Across the broader expansion area numerous targets are taking shape, our focus will be on the immediate expansion of Pilar and defining new areas of mineralization along with areas suitable for mine development infrastructure. There is a large footprint to sample, and we are excited to display the ultimate scale of Pilar.”

The company reports completing 3,268 meters of reverse circulation (RC) drilling across 26 holes so far this year at the road-accessible project. Results are pending for 11 of those drill holes, totaling 1,442.8 meters.

Drilling operations have been temporarily paused to allow for review of results and assessment of summer weather conditions. Tocvan is considering adding a second drill rig later this year to conduct core drilling, which would help build out the geological model and support resource estimation efforts.

“We are extremely pleased with the progress of the 2024 drill program, having completed 3.3 kilometers of the planned seven kilometers of drilling at Pilar already,” said CEO Brodie Sutherland. He noted the company has achieved its most significant step-out results to date at Pilar this year.

Summer field work is planned to further evaluate the geology and geochemistry of the project’s expansion area. Initial sampling has indicated a mineralized footprint 2.5 times larger than the current drill-tested zone at Pilar. Grid soil sampling, mapping, and rock chip sampling will be conducted to better define the extent of mineralization.

The company also reported that recent placer mining activity has opened up a new prospective corridor in the northern part of the property, which Tocvan plans to evaluate for potential targets.

Tocvan describes Pilar as a structurally controlled low-sulphidation epithermal system hosted in andesite rocks. The company has expanded its land position in the area to 22 square kilometers.

Samples from the drilling program were prepared and analyzed by ALS Limited facilities in Mexico and Canada using industry-standard methods. Quality control measures included the systematic insertion of certified reference samples and blanks.

The technical information in the update was reviewed and approved by Brodie A. Sutherland, CEO of Tocvan Ventures and a Qualified Person as defined by Canadian National Instrument 43-101.

Tocvan Ventures Corp. is an exploration and development company focused on gold and silver projects in Sonora, Mexico. The company has approximately 51 million shares outstanding.​​​​​​​​​​​​​​​​

Highlights from the results are as follows:

  • Total of 3,268 meters drilled from 26 RC Drillholes
  • Results pending for 11 drillholes totaling 1,442.8 meters
  • Summer Surface Mapping, Rock and Soil Sampling Planned Across Southern Block of Expansion Area
  • Definition of Expansion Area Footprint; Mine Development Planning
  • Placer Miners Open Up New Area in Northern Expansion Block Expanding Target Potential 

Pilar Drill Highlights:

  • 2022 Phase III Diamond Drilling Highlights include (all lengths are drilled thicknesses):
    • 116.9m @ 1.2 g/t Au, including 10.2m @ 12 g/t Au and 23 g/t Ag
    • 108.9m @ 0.8 g/t Au, including 9.4m @ 7.6 g/t Au and 5 g/t Ag
    • 63.4m @ 0.6 g/t Au and 11 g/t Ag, including 29.9m @ 0.9 g/t Au and 18 g/t Ag
  • 2021 Phase II RC Drilling Highlights include (all lengths are drilled thicknesses):
    • 39.7m @ 1.0 g/t Au, including 1.5m @ 14.6 g/t Au
    • 47.7m @ 0.7 g/t Au including 3m @ 5.6 g/t Au and 22 g/t Ag
    • 29m @ 0.7 g/t Au
    • 35.1m @ 0.7 g/t Au
  • 2020 Phase I RC Drilling Highlights include (all lengths are drilled thicknesses):
    • 94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;
    • 41.2m @ 1.1 g/t Au, including 3.1m @ 6.0 g/t Au and 12 g/t Ag;
    • 24.4m @ 2.5 g/t Au and 73 g/t Ag, including 1.5m @ 33.4 g/t Au and 1,090 g/t Ag
  • 15,000m of Historic Core & RC drilling. Highlights include:
    • 21.0m @ 38.3 g/t Au and 38 g/t Ag
    • 13.0m @ 9.6 g/t Au
    • 9.0m @ 10.2 g/t Au and 46 g/t Ag
    • 61.0m @ 0.8 g/t Au
  • Pilar Bulk Sample Summary:
    • 62% Recovery of Gold Achieved Over 46-day Leaching Period
    • Head Grade Calculated at 1.9 g/t Au and 7 g/t Ag; Extracted Grade Calculated at 1.2 g/t Au and 3 g/t Ag
    • Bulk Sample Only Included Coarse Fraction of Material (+3/4″ to +1/8″)
    • Fine Fraction (-1/8″) Indicates Rapid Recovery with Agitated Leach
    • Agitated Bottle Roll Test Returned Rapid and High Recovery Results: 80% Recovery of Gold and 94% Recovery of Silver after Rapid 24-hour Retention Time
  • Additional Metallurgical Studies:
    • Gravity Recovery with Agitated Leach Results of Five Composite Samples Returned
    • 95 to 99% Recovery of Gold
    • 73 to 97% Recovery of Silver
    • Includes the Recovery of 99% Au and 73% Ag from Drill Core Composite at 120-meter depth.

 

 

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.
Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

By Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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