Drilling start planned for the beginning of April
Full version / The correction is over and the Tocvan share starts a new uptrend.
While the price of gold is rising again, the gold stock Tocvan Ventures Corp. (CSE: TOC; WKN: A2PE64) an important break in trading yesterday. Together with the news published today, the beginning of a new strong upward trend is indicated, which should now catch up to old highs again.
Because today's news has it all!
As just announced, the mapping and rock sampling exploration program of the past few weeks has been successfully completed.
The goal was to prepare new (previously untested) property for the Phase 2 drilling program. A total of 207 rock samples have been collected so laboratory results are expected shortly and drilling will restart next month (April).
Full Version / The property map released today shows the success of the completed exploration program and the prospects for the upcoming Phase 2 drill program.
As Tocvan announced today, several new vein systems have been discovered outside of the established Main Zone deposit (> 18,500 m of holes) :
• The Triple Vein Zone (TVZ) consists of 3 almost parallel vein systems that extend 350 m from the Main Zone to the south. This means that the Main Zone deposit is arguably much larger than previously thought.
• The veins discovered on the earth's surface have an astonishing width of 5-15 m, which is extraordinary because the widths of gold veins are often given in centimeters.
• What makes this discovery even better is that these newly discovered veins occur in the same rock as in the Main Zone: Oxidized Andesite Rock . This suggests that these veins are heavily mineralized with gold (similar to the Main Zone).
• In addition, veins have also been discovered in the 4 Trench Zone that extend over 400 m in length that has never been drilled before. Here, too, there are indications of a considerable new discovery, provided that the laboratory results show respectable gold grades and the upcoming drill program confirms this. In 2019, rock samples showed high-grade mineralization here: 24 g / t gold and 116 g / t silver .
• In addition, Tocvan discovered another vein system ( SE Vein Zone ) in the southeastern portion of the property. Multiple veins extend over 200 meters in length. Notably, these newly discovered veins are similar to the veins in the Main Zone and 4 Trench Zone. This means that a deposit similar to that of the Main Zone should also be located here. Rock samples from 2019 showed a respectable 9.3 g / t gold and 76 g / t silver , so the newly discovered veins should be similarly enriched with gold.
• With the completed exploration program, Tocvan was able to detect a huge vein system directly on the earth's surface, which extends over a length of 1,200 m.
• The drilling program starting next month can be a huge success with new gold deposits being officially confirmed directly on the earth's surface. In addition, Tocvan will test the lower-lying gold pipe structures with holes identified in 2020 using modern geophysics.
• Tocvan has now identified several new, very attractive drill targets that could lead to significant new discoveries.
• Tocvan's Chief Geologist, Brodie Sutherland, commented on Today's News: "We are extremely pleased with the progress made with the geological model at Pilar. By going back to basics, our geologists have identified several new vein zones that correlate with previous exploratory rock and soil samples These vein zones are also located in the same altered, oxidized andesite bedrock that we see in the Main Zone, an important step in unlocking the full potential of Pilar as we move towards our next phase of drilling.
A video published last week about Tocvan's Pilar gold silver project impressively shows what is ahead: The phase 2 drilling program, including drilling the huge gold pipes:
Source: https://youtu.be/VLIdQzM1k0Y
• As the new video shows, Tocvan was able to trump the neighboring gold projects of Argonaut Gold Inc. (market capitalization: $ 583 million) and Minera Alamos Inc. market capitalization: $ 230 million) with the phase 1 drilling program ( see here ) , as longer and higher grade drill intercepts near the surface such as 95 m @ 1.6 g / t gold including 9.2 m @ 10.8 g / t gold . These are world class drill results for an open pit mine in Mexico as average grades of at least 0.6 g / t gold are required, as demonstrated by Argonaut and Minera with their neighboring gold mines.
Tocvan's Pilar gold-silver project is located near the Argonaut Gold Inc. and Minera Alamos Inc. gold mines, with Tocvan having even better drill results on the Phase 1 drill program.
• The upcoming phase 2 drilling program will also test targets outside the established Main Zone deposit for the first time, as Tocvan used geophysics to discover huge gold pipes (feeder structures) at depths of 150 m and above ( see here ). An early drilling success means the rediscovery of a new deposit in which several million ounces of gold with high-grade bonanza grades (> 30 g / t gold) are suspected.
Drone videos with photos of the recent exploration work:
Source: https://youtu.be/FA_evgj3-eE
Source: https://youtu.be/H4xJRtQrsUQ
Company details
Tocvan Ventures Corp.
Suite 1150 Iveagh House,
707 - 7th Avenue SW
Calgary, Alberta, Canada T2P 3H6
Phone: +1 403 668 7855
Email: dwood@tocvan.ca (Derek Wood)
www.tocvan.com
ISIN: CA88900N1050
Shares in the market: 24,984,861
Full version / source
Canada Symbol ( CSE ): TOC
Current Price: $ 0.65 CAD (3/17/2021)
Market Capitalization: $ 16M CAD