Tocvan Ventures Corp. (CSE:TOC) has announced positive trench channel sample results from the recently concluded bulk sample at its Pilar gold-silver project in Sonora, Mexico.
The four trenches, sampled at two-meter intervals, demonstrated consistent values, particularly in the Main Zone, with gold averaging 1.9 grams per tonne (g/t) over 14-meter (m) and 20m channel lengths.
In a statement, CEO Brodie Sutherland highlighted the significance of the results, stating: "Results from channel sampling at Pilar further confirm the excellent bulk tonnage grade potential at surface."
"These locations were the source of recent bulk sample material in which we poured the first produced gold and silver from Pilar. More work is scheduled to evaluate additional recovery potential with the remaining bulk sample material."
The results from the trenches, which remain open for further mineralization, will contribute to the initial resource estimate for Pilar. Current efforts are focused on determining optimal drill locations to expedite the resource estimate, utilizing the 83 permitted drill pads. Meanwhile, in an adjacent acquisition area, assessment work is underway to identify priority target areas for additional resource potential, with placer mining activities revealing new gold source areas controlled by the company.
"We are continuing to take critical steps towards resource estimation and mine development permitting whilst evaluating the additional upside potential of our now expanded Pilar project area. 2024 will be our biggest year yet with us targeting key development milestones," Sutherland added.
The channel sample results come after the successful extraction of approximately 700 tonnes of material from four trenches for bulk sampling. While some variance was observed in grade results, the overall grade appears consistently above 1.8 g/t gold after blending the bulk sample material. The remaining bulk sample material is stockpiled for further evaluation, exploring alternative recovery methods like gravity and agitated leach, both which have shown significant increases in recoverable gold and silver from material at Pilar.
Tocvan noted that the Pilar gold-silver property, boasting some of the region's best drill results, is poised to become a near-term producer.
Characterized as a structurally controlled low-sulphidation epithermal system, the property has three primary mineralization zones, including the Main Zone and 4-T, which are open for expansion. With over 23,000m of drilling completed to date, Pilar is primed for significant developments in 2024, as the company targets key milestones in resource estimation and mine development.
Tocvan Ventures is a well-structured exploration development company earning 100% into two exciting opportunities in Sonora, Mexico: the Pilar gold-silver project and the El Picacho gold-silver project.