First ever drill program demonstrates huge blue sky potential from Pichacho secondary project while news from main Pilar project is highly anticipated.
Vollbild / The Picacho project not only offers an ideal topography for an open pit mine including heap leach ponds for cost-effective gold recovery, but also, thanks to today's news, mineable gold grades near the earth's surface .
Today , emerging Mexico gold-silver explorer Tocvan Ventures Corp. (CSE: TOC; WKN: A2PE64) again better than expected drill results from its second project called El Picacho in the world-renowned gold-silver mining district of Sonora:
• 44.2 m @ 0.6 g/t gold : As the cross-section map in the news shows, this approximately 44 m wide gold zone is probably several 100 m long and starts almost directly at surface .
Full view / cross-section of drill hole SRA-22-010 (El Picacho Project; San-Ramon Prospect).
• This 44m wide gold zone contains high- grade core @ 12.2m @ 2g/t gold and 7g/t silver : These are above average gold grades for an open pit in Mexico as Sonora mines with grades of 0. 4 g/t gold are successfully operating (production costs in Mexico are significantly lower than in other parts of the world, in part because Mexico can use heap leach , which other countries use at best on a very constrained basis ). In addition, oxidized gold ore is much cheaper to process than sulfide ore.
• The press release emphasizes that this is Tocvan's first-ever drill program and the results have far exceeded expectations . In fact, the objective of the Phase 1 drilling program was to determine the orientation of the near surface gold zones in order to infer how these gold and silver mineralized zones continue at depth .
• The fact that minable gold grades were discovered over considerable widths of >40 m with the first drilling (practically "blind") shows that even better results can be achieved with forthcoming follow- up drilling, since it is now better known how the structures in the run underground.
• The aim of the drilling was to find low grade gold mineralization near surface . With grades averaging 0.6 g/t gold, approximately 50% higher than the minimum average (~0.4 g/t) from successful gold mines in Sonora, the Phase 1 drilling program was a great success and should complement the new one Further spur on the uptrend in Tocvan shares. A strong price increase in the next few days should therefore not come as a surprise.
• Additional drilling is planned for El Pichacho and should be announced shortly, which should further boost the stock.
• As announced by Tocvan in December ( see here ), a bulk sample will be mined at Tocvan's main project called Pilar earlier this year and processed at a neighboring facility by a private mine operator. As soon as further details and in particular the start of this large sample are announced, a strong upward trend in Tocvan shares can be expected, since such a large sample will also be the starting signal for a strong and longer-term upward trend at Pilar's neighbor Minera Alamos Inc. with its Santana-Gold deposit that was rushed into mine after this bulk sample (with no resource estimate and no economics/feasibility studies!).
• Minera Alamos Inc. (TSX.V: MAI) now enjoys a stock market valuation of $211 million . Tocvan shareholders can expect a similarly rapid development of Pilar into a gold mine, as such gold projects can be brought into production much more quickly and cheaply in Mexico than in other parts of the world. This is one of the main reasons why Tocvan is one of the hottest takeover targets in the gold explorer space , although alternatively a strategic partnership with a major gold producer would also be desirable as it can create even greater shareholder wealth.
• To get the same stock market valuation as Minera Alamos Inc. ($211m), Tocvan stock needs to rise to $5.65 ( +858% from current stock price at $0.59 ). By the way : In just 12 months (2019-2020, when the price of gold was also trending upwards) , the share price of Minera Alamos increased eightfold , during which time the large sample at Santana was carried out and diligent drilling was carried out.
The Perfect Framework for Gold-Silver Exploration Stocks:
Full screen / Source / The price of gold is currently at the conclusion of a gigantic Head & Shoulders formation , which means that after the current rise to the red resistance line ("Line of importance"; so-called neckline) at approx $2100 USD further advance is imminent after this price level has turned into support so gold prices of $3000 USD and above should be targeted thereafter. See here an example of an ("inverse") head-and-shoulders formation.
Full Screen / Source / This chart confirms that the current rise in gold prices is only just beginning: On the COMEX futures exchange, net LONG positions are only just rising (meaning increasing bets on a rising gold price), although there is still plenty There is scope for further ascent. See more charts below.
Today's Tocvan News (free translation from English ) :
Tocvan drills 12.2m @ 2g/t gold and 7g/t silver within 44.2m @ 0.6g/t gold and discovers an extension in a 100m step-out of historic mine workings at El Picacho Gold-Silver Project
Highlights
• 100m step-out hole SRA-22-010 returned 44.2m @ 0.6g/t gold from 41.2m depth
- including 12.2m @ 2g/t gold and 7g /t silver
- including 3.1m @ 7.6 g/t gold and 9 g/t silver
• Hole SRA-22-008 intersected 16.8m @ 21.4m @ 0.5 g/t gold
- included 4.6m @ 1.8g/t gold and 6g/t silver
• Best step-out result to date furthest from historical mine workings and surface
• All drill holes contain quartz veining and alteration associated with robust mineralized systems
•300m of strike length was tested in the first phase of drilling and confirms the exploration model of near-surface oxide gold mineralization associated with underground workings
Calgary, Alberta – January 17, 2023 – Tocvan Ventures Corp. (the "Company") (CSE: TOC; OTCQB: TCVNF; FSE: TV3) is pleased to report drill results for the remainder of its drill holes at its El Picacho gold-silver project in Sonora, Mexico. 10 drill holes totaling 1,075.1 meters were completed on the San Ramon property to test low-grade mineralization adjacent to historic underground workings that returned high-grade gold and silver. Drilling was aimed at testing various structural orientations to determine the best way to target mineralization. Mineralization associated with historical underground workings has been confirmed and the most significant mineralization has been identified in oneA 100m long step-out from historic operations on the San Ramon portion of the property has been discovered, allowing the model to confirm that the mineralization continues at depth in a west-dipping system. Drill hole SRA-22-010 returned the most significant results to date, intersecting 44.2m at 0.6 g/t gold, including 12.2m at 2 g/t gold and 7 g/t silver from a borehole depth of 41.2 m (approx. 25 m from the earth's surface). Mineralization has now been drilled along a strike length of 300m and 200m down dip from the surface exposure. Analysis and interpretation of this data is used for planning follow-up drilling. El Picacho hosts several other drill-permitted targets spread across the 24 km2 project area.
"We are extremely pleased with the results of this initial program at El Picacho as we have not only confirmed mineralization associated with the old workings but also discovered even better mineralization at depth," said CEO Brodie Sutherland."We now have a better understanding of the optimal drill orientation to test the system and look forward to not only pursuing the San Ramon target, but also testing the other project target areas on the large land package. That we are able to." Being able to test our model, adjust on the fly and use this information to successfully encounter the best mineralization on our first step out is a tremendous endorsement for the team and we look forward to analyzing these results to determine the to plan the next phase of drilling at El Picacho."