Tocvan Ventures Corp (CSE:TOC) (FRA:TV3) said it continues to unlock the potential of its flagship Pilar project in Mexico with the company's latest drill assays.
The company has reported results for the first three holes from its Phase II drill program, in which 17 holes have been sunk so far.
Highlight results included an intercept starting from surface in one hole of 29 meters (m) at a grade of 0.71 grams per ton (g/t) gold. Within that hole was also a length of 6.1 meters at 1.9 g/t gold starting from a depth of 22.9m.
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"We are extremely pleased with these early-stage results", Tocvan vice-president (VP) of exploration Brodie Sutherland told investors in a statement.
"As we advance north of the Main Zone we are finding significant mineralization," he said, adding that the company was "especially excited" to see the continuation of mineralization 30m on strike with a previous hole, which hit 24.2m at 2.5 g/t gold and 73 g/t silver.
Results for 14 holes, which largely focused on new target areas, are still pending, he said.
Tocvan believes its Pilar gold, silver property is a low-sulphidation epithermal project. More than 19,200m of drilling has been completed to date and three zones of mineralization have been identified in the north-west part of the property from historic surface work and drilling. They are known as the Main Zone, North Hill and 4-Trench.
Soil and rock sampling at undrilled areas have indicated that mineralization extends towards the southeast from the Main Zone and 4-Trench Zone, while recent surface exploration has defined three new target areas - Triple Vein Zone, SE Vein Zone and 4 Trench Extension.
Contact the author at giles@proactiveinvestors.com