Tocvan Ventures Corp. (CSE:TOC) has told investors that it expects first results from the Phase III drilling program at its Pilar gold-silver project in Mexico to be available later this month.
In an update, the company said 1,200 meters (m) of core drilling has been completed ,providing essential information across the Main Zone and 4-T Trend. Over 40% of these samples have been submitted to the ALS laboratory in Hermosillo, Mexico, for preparation and analysis, it added.
Tocvan said the remaining samples are expected to be submitted over the next two weeks with more drilling planned in the coming months.
READ: Tocvan Ventures sees encouraging findings from Phase 3 drilling at Pilar project
The company said it also expects results from the previously announced intersection of silicified breccia host through the Main Zone at Pilar, a core twin of reverse circulation (RC) hole JES-20-32 which returned 94.6m of 1.6 grams per ton (g/t) gold, including 9.2m of 10.8 g/t gold and 38 g/t gold.
It said five metallurgical samples for column leach study have been submitted for analysis by SGS and a strategic partner. Results for metallurgy are expected to be available in the second quarter of 2022. Bottle roll studies in 2021 returned over 90% recovery of gold after a 48-hour retention time, Tocvan said.
Summary of near-term catalysts:
- First results from Phase III drilling program pending
- Bulk samples for advanced metallurgy currently at lab
- Moving towards maiden resource estimate and bulk test mine
- Exploration starting at brownfields gold-silver project, Picacho 6 kilometers (km) of prospective trend, 18 km from producing San Francisco Mine
- Spin-out of BC Copper asset into new Cu focused company
- Marketing and Investor Awareness Campaigns
Tocvan said it has been actively growing its investor engagement through social media, YouTube and in-person meetings. It said a series of videos with CEO, Brodie Sutherland will be released weekly to discuss the latest results and forward-looking plans.
The company said its annual general meeting (AGM) will take place April 8, 2022, with information regarding the meeting to be disseminated over the next few weeks. The AGM was delayed due to the coronavirus (COVID-19) global pandemic and resulting delays in obtaining court approval of a spin-out transaction.
Tocvan is earning 100% into two exciting opportunities in Sonora state, Mexico - the Pilar asset and the El Picacho gold-silver project.
Contact the author at stephen.gunnion@proactiveinvestors.com