Tocvan Ventures Corp (CSE:TOC) (FRA:TV3) reported promising results for the next four drill holes from the Phase II drill program at its flagship Pilar gold-silver project in Sonora, Mexico.
The Calgary, Alberta-based exploration development company has a Phase II drill program currently in progress with 3,500 meters (m) of reverse circulation (RC) drilling in 20 drill holes.
The company highlighted results from four drill holes, which showed that drill hole JES-21-43 returned 35.1m at 0.66 grams per tonne (g/t) gold and 6 g/t silver (0.72 g/t gold equivalent) from 97.6 to 132.7m. The hole was planned to test the eastern extent of the Main Zone which correlates with a resistivity anomaly from a CSAMT survey. “An oxide zone with quartz veinlets was recorded from 41m depth to 93m followed by several quartz veins in oxidized andesite from 93m to 130m,” said the company.
Meanwhile, drill hole JES-21-40 tested the Main Zone at depth and to the east. Drilling intersected a broad low-grade zone from surface of 58m of 0.19 g/t gold. In addition, drill hole JES-21-41 tested the 50m down dip of drill hole JES-20-32, which returned 94.6m at 1.6 g/t gold.
Finally, drill hole JES-21-40 was conceived to test the Main Zone at depth and to the east. Drilling intersected a broad low-grade zone from surface of 58m of 0.19 g/t gold. Results from drill holes JES-20-33 (41.2m at 1.14 g/t gold) and JES-13-15 (34.5m at 1.27 g/t gold) through the same area of the Main Zone intersected higher grade, but were drilled from the opposite direction to JES-21-40, suggesting drilling from the east to the west through the zone is the optimal angle for intersecting mineralized structure, noted the company.
“JES-21-43 is a significant step-out to our Main Zone, 100-meters east of our Phase I drill hole JES-20-32,” Brodie Sutherland, who is VP Exploration at Tocvan, said in a statement. “This not only expands the potential width of our Main Zone but also shows a continuation of mineralization down dip towards the east. Pending assay results for the remaining drill holes includes a series of holes stepped further east to test the 4-Trench Extension and the continuation of mineralization at depth.”
The company said 13 drill holes are pending assay results.
Tocvan believes its Pilar gold-silver property is a low-sulphidation epithermal project. Three zones of mineralization have been identified in the north-west part of the property from historic surface work and drilling and are referred to as the Main Zone, North Hill and 4-Trench.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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