Tocvan Ventures Corp (CSE:TOC) (FRA:TV3) said it has received permits for an additional 44 drill pads and seven trenches at its flagship Pilar project in Mexico.
The company said permitting was initiated as a proactive measure to ensure the timely and consistent advancement of the project, adding that the additional drill pads will be utilized both during the current drill program and during a phase III program planned for the fall of 2021.
READ: Tocvan Ventures pleased with progress of Phase 2 drilling at Pilar
Meanwhile, Tocvan said the trenches are permitted to be 5 meters (m) by 2m by 20m in size and will be utilized later in the year to channel sample across key mineralized sections on the property and to submit bulk sample material for column leach metallurgical analysis.
The seven trenches will also provide up to 3,500 tonnes of material for metallurgical test work and bulk sampling, ultimately leading towards a larger bulk sample.
The company also updated on the current drill program, saying 15 holes have been completed totaling 2,370m, while samples for the first seven holes have been submitted to ALS Labs in Hermosillo.
Early drilling focused on the extension of the Main Zone, testing down-dip extensions of mineralization in addition to stepping out along strike, the company said, adding that drill targeting has now shifted towards testing new areas along the 4-Trench Extension and Triple Vein Zone areas.
“As our current drill program advances, we are extremely pleased with our field crews’ efforts. In addition, we are excited to have received new drill and trench permits for Pilar to allow for the continued exploration and advancement of the project. The next phase of drilling and trenching will be an important next step for the company and will provide key information as we move towards development,” Tocvan’s vice president of exploration Brodie Sutherland said in a statement.
Tocvan also announced that it has applied for the listing of its common shares on the US OTCQB Venture Market, in addition to applying for eligibility with the Depository Trust Company (DTC). It believes DTC eligibility and trading on the OTCQB will provide additional liquidity and increase its visibility within the US capital markets.
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