Tocvan Ventures Corp. (CSE:TOC) has announced results for the remaining drill holes completed at the San Ramon prospect at its El Picacho Gold-Silver project in Sonora, Mexico, with hole SRA-22-010 returning the most significant results to date, intersecting 44.2 meters of 0.6 grams per ton (g/t) gold (Au).
This intersect included 12.2 meters of 2.0 g/t Au and 7 g/t silver (Ag) from a downhole depth of 41.2 meters - around 25 meters from surface.
"We are extremely pleased with the results of this first program at El Picacho where we have not only confirmed mineralization tied to the old workings but also stepped-out and discovered even better mineralization at depth,” said Brodie Sutherland, Tocvan CEO in a statement.
“We now have a better understanding on the optimal drill orientation to test the system and look forward to following-up on not only the San Ramon prospect but testing the other prospects across the large land package. To be able to test our model, adjust on the fly and use this information to successfully hit the best mineralization in our first step-out is a massive testament to the team. We look forward to analyzing these results to plan for the next stage of drilling at El Picacho," he added.
READ: Tocvan Ventures says drill results for first three drill holes completed at its El Picacho Gold-Silver project in Sonora, Mexico.
Mineralization has now been intersected over a 300 meter strike and 200 meters down-dip from the surface exposure at the San Ramon prospect. Analysis and interpretation of this data will be used to plan follow-up drilling. El Picacho is host to several other target areas permitted for drilling that span across the 24 square kilometer project area.
Ten drill holes totalling 1,075.1 meters were completed at the San Ramon Prospect testing for low-grade mineralization adjacent to historic underground workings that have returned high-grade gold with silver. Drilling was aimed to test different structural orientations to determine the best way to target mineralization.
Mineralization associated with historic underground workings was confirmed and the most significant mineralization was discovered in a 100 meter step-out from the historic workings of the San Ramon target, confirming the model that mineralization continues at depth in west-dipping system.
Drilling Highlights:
- 100-meter Step-out, Hole SRA-22-010 returned 44.2 meters of 0.6 g/t Au, from 41.2 meters depth including 12.2 meters of 2.0 g/t Au and 7 g/t Ag and 3.1 meters of 7.6 g/t Au and 9 g/t Ag
- Hole SRA-22-008 returned 16.8 meters of 0.5 g/t Au, from 21.4 meters including 4.6 meters of 1.8 g/t Au and 6 g/t Ag
- Best Result to Date in Step-out furthest from Historic Mine Workings and Surface Outcrop
- All drill holes contain quartz veining and alteration associated with robust mineralized systems
- 300-meters of Strike Tested with First Phase of Drilling, confirms exploration model of at and near-surface oxide gold mineralization connected to underground workings
Tocvan said the drill program was successful in identifying mineralization in three target areas: Las Guijas, San Ramon and the newly discovered extension to San Ramon. Initial review of the data suggest drilling in a southeast direction (azimuth 120) provides the best result for testing high-grade mineralization and adjacent low-grade, the company said.
Hole SRA-22-010 has proven the model of a west-dipping package of altered and mineralized quartz veins and shear zones exist and appear to continue at depth and remain open to the west and south of the known area, it added.
Other Highlights:
- Hole SRA-22-004 returned 13.7 meters of 5 g/t Ag, from 128.1 meters
- Confirms Mineralization in Lower Metasediments – 2 g/t Ag over 100.6 meters
- Hole SRA-22-005 returned 4.6 meters of 0.5 g/t Au and 5 g/t Ag, from 21.4 meters
- Hole SRA-22-007 returned 7.6 meters of 0.3 g/t Au and 17 g/t Ag, from 24.4 meters including 3.1 meters of 0.6 g/t Au and 31 g/t Ag
Tocvan is a well-structured exploration development company and is earning 100% into two exciting opportunities in Sonora, Mexico: the Pilar Gold-Silver project and the El Picacho Gold-Silver project. The company's management feels both projects represent tremendous opportunity to create shareholder value.
Contact the author at jon.hopkins@proactiveinvestors.com