Tocvan Ventures Corp has told investors it plans to start a trenching program at its Pilar gold and silver project in Mexico in October as the company recapped on the findings of a successful drill program completed in June this year.
The 20-hole Phase 2 drill program expanded the so-called Main zone 30 metres (m) to the northwest and 150m to the southeast and defined a new mineralized trend over a 500m strike, parallel to the Main zone.
At the Triple Vein zone, one hole also hit a narrow silver-rich zone with gold.
READ: Tocvan Ventures prepares next steps for Pilar project after successful first and second phase drilling
"Results for the Phase II program are encouraging and warrant further drill definition to continue to expand the known areas of Au-Ag mineralization at Pilar," Tocvan said in a statement.
"Trenches will be used to better define surface mineralization and provide material for initial bulk sampling," it added. "Immediately following trenching a Phase III drill program of a similar scope to Phase II will continue the advancement of the project. The project is permitted to complete the planned trench and drill programs."
The company believes Pilar 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 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.
Phase 2 drill results included an intercept of 29m at a grade of 0.71 grams per ton (g/t) gold and 2 g/t silver from surface to 29m at the Main zone, and 15.3m at 1.1 g/t gold and 2 g/t silver from 36.6 to 51.9m at the 4 Trench Zone.
At the Triple vein zone one hole hit 1.5 meters at 0.57 g/t gold and 139 g/t silver from 216.6 to 218.1m depth.
Contact the author at giles@proactiveinvestors.com