Tocvan Ventures Corp. (CSE:TOC) said it is encouraged by results from a Bulk Sample leaching process at its Pilar gold-silver project in Sonora, Mexico, with head grade exceeding its expectations.
Findings of a report prepared by independent qualified professionals at LTM of Hermosillo include a base of 62% recovery of gold (Au) and 47% recovery of silver (Ag). Head grade results were calculated by LTM as 1.9 g/t Au and 7 g/t Ag, with calculated recoverable metal extracted at 1.2 g/t Au and 3 g/t Ag.
However, the company noted that for the first 30 days of the 46-day cycle, the flow rate for the solution wasn’t hitting the optimal range. It was able to correct that, and overall that started to improve the recovery, suggesting even better recovery rates are achievable.
In addition to the heap leach study, Tocvan said an agitated bottle roll test was completed by LTM on a bulk sample composite for comparison of the two methods. Rapid gold and silver recovery was recorded from minus 20 Mesh material returning 80% recovery of gold and 94% recovery of silver after just 24 hours of retention time.
“The Bulk Sample process has been extremely important to the understanding of the surface expression of mineralization at Pilar along with defining a path towards optimal gold and silver recovery,” Tocvan CEO Brodie Sutherland said in a statement.
“We are encouraged by the strong heap leach results for gold where the data suggests recovery can be improved through increased leaching solution flowrate over a consistent and longer leaching period.”
Sutherland said the characterization of exposed gold and silver amenable to rapid gravity and agitated leach recovery was perhaps the most encouraging development from the study.
“A quicker turnaround for metal extraction at very high recovery rates adds a new positive factor to the development path of the relatively high-grade nature of Pilar,” he added.
“Having optionality to explore both methods as viable extraction techniques makes Pilar a unique and standout deposit for the region and with the potential now to explore an even greater area around to add to the potential resource size makes us even more excited for the future of the project.”
The company also announced it plans to issue 300,000 common shares at a deemed price of $0.50 each as a debt settlement to a consultant of the company.
Full details from the diagnostic leach study can be found here.
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.
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 they can build upon previous success.
Contact the author at stephen.gunnion@proactiveinvestors.com