Tocvan Ventures Corp. (CSE:TOC) said bulk sampling is ongoing at its Pilar project in Sonora, Mexico, and consistent gold values have been returned from initial sampling from the first two days of crushing blended material.
In total, 15 samples were collected, ranging between 1.11 and 2.18 grams per ton (g/t) gold and averaging 1.64 g/t gold, the exploration development company said in an update, adding that an additional 101 samples were submitted for the evaluation of gold and silver, for which results are pending.
"Results from the bulk sample material being crushed are showing very consistent gold grades above the regional average of mines in the area,” Brodie Sutherland, CEO, said in a statement.
“With the bulk sample progressing we are now planning for the next phase of exploration and drilling at both Pilar and El Picacho. New surface exposure at Pilar from trenching will provide key information of surface mineralization and with systematic channel sampling can be tied into future resource estimates. This will assist in future drill targeting at Pilar as we look to expand the known footprint of mineralization even further. Across both of our projects we are currently permitted for over 24,000-meters of drilling, which we will look to utilize as we move both projects forward with imminent drilling.”
The company noted that the Pilar project, which has returned some of the region’s best drill results, has permits for 83 drill pads for total drilling of at least 10,000 meters, adding that with over half of the property yet to be systematically drilled, several new parallel zones to the main zone may be required.
Tocvan added it plans to look for new water sources.
At El Picacho, the company plans initial reconnaissance drilling at the Jabali target and step-out drilling at the new discovery area at the San Ramon target. Drilling at the project is currently permitted for 14,000 meters while trenching is permitted for 2,000 meters.
The company also said its Annual General Meeting will be held at 10.00am MST on May 15, 2023.
Contact the author at jon.hopkins@proactiveinvestors.com