Great to see that TOC is back in mapping the property as well sampling key target areas. Looks like we will be back in drilling in the next month or so. What about the Private Placement, no mention of how that is going but judging by the price of TOC, I suspect it is moving along nicely.
Tocvan Ventures Corp. has started the next phase of exploration at Pilar. Work will include detailed mapping and sampling of key targets across the Pilar gold-silver project. The aim of the program will be to advance key targets to drill-ready status for a phase 2 drill program planned in the next couple of months.
Key target areas: ling
- Main zone extension:
- 800-metre southeast extension of the Main zone:
- Historic drill hole JES-18-03: 13.5 m at 5.6 grams per tonne gold and 22 g/t silver;
- 800 metres of anomalous soils with values ranging from 106 parts per billion to 911 ppb Au;
- Rock grab samples including 9.3 g/t Au and 76 g/t Ag;
- 4-Trench:
- 600-metre trend that includes the 4-Trench zone highlighted by:
- Historic drill hole K-16: 7.5 m at 3.3 g/t Au and 31 g/t Ag;
- 600 metres of anomalous soils with values ranging from 118 ppb to 2,030 ppb Au;
- Rock grab samples including 24 g/t Au and 116 g/t Ag;
- Network of historic artisanal workings.
"We are excited to have boots back on the ground at Pilar," commented vice-president, exploration, Brodie Sutherland. "The results released last week for our phase 1 drill program show the potential to grow the known extent of mineralization at depth and along strike. The high-grade gold and silver intercepts provide evidence for deep-rooted structures, which we are just starting to uncover. Detailed mapping and sampling of the surface expressions of these structures will aid in drill targeting as we move towards a phase 2 drill program. In addition, the 4-Trench zone provides the opportunity to discover a parallel trend to the Main zone of equal significance."
About the Pilar property
The Pilar gold-silver property is interpreted as a structurally controlled low sulphidation epithermal project hosted in andesite and rhyolite rocks.
Three zones of mineralization have been identified in the northwest part of the property from historic surface work and drilling and are referred to as the Main zone, North Hill and 4-Trench. Structural features and zones of mineralization within the structures follow an overall northwest-southeast trend of mineralization. Over 19,200 metres of drilling have been completed to date. Significant results are highlighted below from previous operators:
- 17,700 m of historic core and RC drilling; highlights include (all lengths are drilled thicknesses):
- 0.8 g/t Au over 61 m;
- 53.5 g/t Au and 53 g/t Ag over 16.5 m;
- 9.6 g/t Au over 13 m;
- 10.2 g/t Au and 46 g/t Ag over nine m;
- 2,650 m of surface and trench channel sampling; highlights include:
- 55 g/t Au over three m;
- 28.6 g/t Au over six m;
- 3.4 g/t Au over 50 m;
- Soil and rock sampling results from undrilled areas indicate mineralization extend toward the southeast from the Main zone, North Hill zone and 4-Trench zone.
Mr. Sutherland, a qualified person (QP) as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.
About Tocvan Ventures Corp.
Tocvan is a well-structured exploration mining company. Tocvan was created to take advantage of the prolonged downturn in the junior mining exploration sector, by identifying and negotiating interest in opportunities where management feels it can build upon previous success. Tocvan Ventures currently has approximately 24.5 million shares outstanding and is earning into two exiting opportunities: the Pilar gold project in the Sonora state of Mexico and the Rogers Creek project in Southern British Columbia. Management feels both opportunities represent tremendous opportunity.