Tocvan Ventures Corp (CSE:TOC) (FRA:TV3) said it had completed exploration at its flagship Pilar gold-silver project in Mexico ahead of a Phase II drill program and three new vein zone targets were identified.
A new so-called Triple Vein Zone (TVZ) was identified, extending 350 (m) meters south of the Main Zone, Tocvan said. The TVZ has mapped veins 5 to 15m wide, all hosted with the same oxidized andesite rock seen at the drill-defined Main Zone.
In addition, a new SE Vein Zone was discovered along the eastern edge of the property, identified with two dominant vein trends.
READ: Tocvan Ventures says pleased at speed of exploration at Pilar project ahead of drill planning
Meanwhile, at the 4 Trench Trend, new veins mapped indicated over 400m strike length, untested by drilling.
In all, 207 rock chip samples were collected covering the entire property and assay results are pending, Tocvan said.
"We are extremely pleased with how the geologic model is advancing at Pilar," said vice-president (VP) of exploration Brodie Sutherland in a statement.
"By going back to the basics, our geologists have identified several new vein zones that correlate with previous reconnaissance rock and soil sampling. These vein zones are also hosted in the same altered oxidized andesite host rock we see at the Main Zone. This is an important step to unlocking the full potential of Pilar as we move towards our next phase of drilling."
Tocvan owns 100% of the Pilar project and was attracted initially to the asset by the amount of successful drilling on a very concentrated area. This spans 17,700m from surface to a maximum depth of just 150m, leading the company to believe the property hosts an at-surface deposit, which is amenable to open-pit mining.
Three zones of mineralization have been identified in the north-west part of the property, referred to as the Main Zone, North Hill and 4 Trench. Over 19,200m of historic drilling have been completed to date.
Contact the author at giles@proactiveinvestors.com