Tocvan Ventures Corp. (CSE:TOC) said it has started preparation for an initial bulk sample at its Pilar Gold-Silver Project in Sonora, Mexico in which up to 1,000 tonnes of oxide-gold material will be extracted from select areas.
The focus will be on the Main Zone and 4-T Trends where preliminary column leach studies have returned promising head-grade and recovery results, the company said, adding that bulk sample material will be extracted and prepared in February for processing by heap-leach method at a private mining operation less than 25 kilometers (km) to the west of Pilar.
"We are excited for this important next step at Pilar that will enhance our understanding of mineralization and open the door to new opportunities,” Brodie Sutherland, CEO of Tocvan said in a statement.
READ: Tocvan Ventures says remaining drill holes completed at its El Picacho Gold-Silver project show most significant results to date
“Information collected from the bulk sample and metallurgical test work will give investors even more confidence in the potential of the project and show the possibilities to produce gold and silver from Pilar. In addition, it will prove Pilar is an attractive target for other producers of oxide-gold in the region. All during a time where we are seeing a renewed interest towards precious metals through strong gold and silver prices.”
Information from the sample will aim to provide a more detailed account of expected head grade and recovery percentage of gold along with providing key information to optimize future production facilities, the company said, noting that additional metallurgical sampling will be completed to identify gold characteristics to further improve gold extraction techniques.
The processing and analysis of the bulk sample is expected to span three to four months depending on the rate of precious metals actively recovered through the heap-leach process.
"Beyond the bulk sample, there remains a tremendous opportunity to expand the mineralized area at Pilar as a large part of the 1.2-kilometer corridor remains untested and open for exploration and expansion. In tandem, we are seeing great early results from our El Picacho project where we recently completed a successful first round of drilling, confirming our model and discovering significant near-surface mineralization stepped-out from historic workings. 2023 is shaping up to be another fantastic year for the company as we unlock the potential of both of our projects,” added Sutherland.
Pilar Metallurgy Highlights:
- 2021 Bottle Roll Results SGS (Durango) – Main Zone RC Drill Hole Composites (from JES-20-32, 94.6 metres (m) at 1.6 grams per ton (g/t) Au)
- Sample 494801 – 1.15 g/t Au Head Grade, 91.6% Recovery of Au
- Sample 494804 – 0.63 g/t Au Head Grade, 90.6% Recovery of Au
- 2022 Column Leach Study – Four Column Leach Samples from Surface Trenches across Main Zone and 4T Trend
- Head Grade Range: 0.4 g/t Au to 5.0 g/t Au
- Gold Recovery Range: 88.9% to 96.9%
Testing was completed by a local private producer and contractor based in Sonora, Mexico. The facility used to calculate head-grade and recovery is not a certified lab.
Pilar Project
The Pilar Gold-Silver property has recently returned some of the region’s best drill results. Coupled with encouraging gold and silver recovery results from metallurgical test work, Pilar is primed to be a potential near-term producer.
Pilar is interpreted as a structurally controlled low-sulphidation epithermal system hosted in andesite rocks. Three primary zones of mineralization have been identified in the north-west part of the property from historic surface work and drilling and are referred to as the Main Zone, North Hill and 4-T. Mineralization extends along a 1.2-km trend, only half of that trend has been drill tested so far. To date, over 23,000m of drilling has been completed.
Tocvan was created in order to take advantage of the prolonged downturn in the junior mining exploration sector, by identifying and negotiating interest in opportunities where management feels they can build upon previous success.
Contact the author at jon.hopkins@proactiveinvestors.com