Perfect timing! Tocvan Ventures Corp. today announced the completion of the Phase 1 drill program on its Pilar gold project in Sonora, Mexico. This first drilling program was completed in record time and it should continue at this extraordinary speed in 2021. The stock is at the beginning of a technically clean breakout that should bring much more joy to Tocvan shareholders over the next few days and weeks.
• Just 3 weeks after the drilling permit was announced on December 1st, Tocvan was able to complete a total of 9 drill holes with a total length of 1505 m (an average of 167 m per drill hole). Most of the past holes (total> 17,700 m total length) have not been drilled deeper than 125 m.
• The drill samples have already been delivered to the independent laboratory in Hermosillo.
• As it became known today, the drilling results are not published all at once, but in "batches" (ie in parts as they are completed by the laboratory).
• So January 2021 will probably be a very news-rich month, which can make the Tocvan share skyrocket.
• With a current stock market valuation of only 6 million euros, good drilling results can lead to a multiplication of the share price, mainly because the share float is exceptionally tight with only 25 million shares issued.
Full version / Tocvan stock is at the end of a triangle formation, with the breakout having already begun.
• Tocvan emphasized in today's news that preparations for the Phase 2 drilling program are ongoing and that Phase 1 drilling is providing important information about the huge feeder pipe structures that Tocvan has identified with modern geophysics over the past few months to drill precisely. The start of drilling for phase 2 should take place quickly at the beginning of the new year!
• As noted in recent press releases, such feeder pipes typically contain high grade gold (approximately 1 ounce per ton or 31 g / t) and are large in size, adding up to several million ounces of gold with the Phase 2 drill program can be discovered.
• The Tocvan share has already started to break out of several months of sideways consolidation within a triangular formation, so a strong upward trend over the next few weeks should come as no surprise. Thanks to today's news, a year-end rally is expected, which should gain traction especially in January.
• Tocvan showed in the news today what the company has achieved this year and that 2021 could be a great success for its shareholders:
TOCVAN COMPLETES PHASE-1 DRILLING PROGRAM AND GIVES UPDATE
Calgary, Alberta - December 22, 2020: Tocvan Ventures Corp. (CSE: TOC) (CNSX: TOC.CN) ("Tocvan" or the "Company") is pleased to announce the completion of its first drill program (the "Program") on the Pilar Gold-Silver Project in Sonora, Mexico, to announce. A total of 1,505 meters of reverse circulation (RC) drilling was completed in nine (9) holes. All drill samples were sent to the Hermosillo laboratory; the results are expected in early 2021 and will be released gradually as they arrive.
The Phase 1 drill program was designed to provide key structural information for the definition of drill targets along the major mineralized trend and on the deep, feeder pipe-like structures that have been interpreted by geophysics. As the company intends to advance the Pilar project, a Phase 2 drill program is planned for early 2021 to test these targets with drill holes.
"The ability to efficiently run our first drill program at Pilar is an important milestone for Tocvan," said President and CEO Derek Wood. "While we are waiting for the drill results, planning for the next phase of exploration has begun. 2021 will be an important year for the company as we look forward to further development of Pilar."
A video of the drill program can be found here: https://youtu.be/R8MZZXM5794
Looking back at 2020
Just over a year ago, Tocvan signed an agreement to acquire up to 100% of the Pilar gold project in Sonora, Mexico. What attracted Tocvan to the Pilar property was the amount of successful drilling that had occurred in a very small area of the Pilar property. The total of 17,700 meters of prior drilling from surface to a maximum depth of only 150 meters led management to believe that the property is likely to host a surface deposit suitable for open pit mining within the known mineralized zone. Tocvan completed a detailed geophysical and soil analysis of the property before defining drill targets and submitting a drill request. Most of the year was spentObtain valuable information on the structure of the epithermal system and identify new targets that have never been explored on the property. Exploration advances at Pilar over the past year include:
• Discovery of high-grade gold and silver mineralization at the earth's surface in two new occurrences that magnify known mineralization trends: Highlights include 323 g / t silver and 9.3 g / t gold.
See January 7, 2020 press release
• Geophysical survey results identified several new, previously not explored targets.
See press release of May 20, 2020
• Results of the soil survey on the property including the highest soil results to date of 8 g / t gold and 317 g / t silver in the new discovery called the New East Zone
See news release dated June 24, 2020
• First results of the structural analysis; Identification of possible main structures or "feed channels" for fluids rich in gold and silver
See press release of September 29, 2020
• Start of drilling program on Pilar project in Sonora
See press release dated December 1, 2020
Tocvan has also seen great company developments over the past year, including :
• Expansion of the board of directors with the appointment of Fred Jones;
• In February, Tocvan closed the first private placement financing since the IPO;
• In August around 95% of the outstanding IPO warrants were exercised. This has provided necessary working capital;
• Appointment of Brodie Sutherland as VP Exploration;
• Adding Donn Lovett as a strategic advisor.
Derek Wood, CEO commented, "We are very pleased with the success Tocvan has had over the past year in reducing the risk of the Pilar project while strengthening the management and administration of the finances to dilute the shareholders While the stock has already rewarded early investors, we still believe the current valuation is of tremendous value as we continue to reduce the risk of the Pilar project and move towards Pilar as both a quick production success story and a To demonstrate exciting exploration opportunity. Tocvan also plans to advance the development of the Roger Creek property in southern British Columbia this year. Rogers Creek is a large property,which shows promise for a potential porphyry copper-gold discovery. Tocvan continues to strive to maximize shareholder value by making the advanced exploration projects further low risk with minimal dilution of the enviable capital structure. "
Exploration and development work on Pilar will continue in 2021. Upon receipt of Phase 1 drill results expected early in the new year, a Phase 2 drill program will be designed to test deeper drill targets and continue expanding known mineralized trends. In addition, metallurgical work is planned to determine the suitability for possible heap leaching [open pit mining]. Surface exploration work continues with mapping and sampling along the extended mineralized trends recently defined by soil and rock sampling. [Free translation / source ]
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