Tocvan Ventures Corp. (CSE:TOC) said a total of 1,562 meters of Phase III drilling has been completed in nine drill holes at its Pilar gold-silver Project in Sonora, Mexico, providing key information across the Main Zone and 4-T Trend.
"Once again, core drilling has confirmed the significant grade and distribution of gold-silver mineralization at Pilar," said CEO Brodie Sutherland in a statement. "This further validates the strength of the shallow mineralized system at Pilar, especially in regard to the significant high-grade mineralization adjacent to controlling structures. We look forward to reviewing the remaining results that test the extension of these controlling faults to the southeast."
Drill hole JES-22-59 returned 116.9-meters at 1.2 grams per ton (g/t) gold (Au) and 7 g/t silver (Ag), including an impressive 48.1-meters at 2.8 g/t Au and 9 g/t Ag. High-grade gold-silver mineralization was recorded adjacent to a heavily faulted and altered zone returning 10.2-meters at 12.0 g/t Au and 23 g/t Ag, including 4.2-meters at 28.3 g/t Au and 49 g/t Ag, the company said.
READ: Tocvan Ventures announces initial drill results from its Pilar Gold-Silver project in Mexico
It added that drilling looked to expand the Main Zone through 25, 50 and 100-meter step-outs to the southeast in a gap zone that has seen little drilling focused on the main trend between hole JES-20-32 (94.6m at 1.6 g/t Au) and hole JES-21-50 (39.7m at 0.96 g/t Au). Drilling also covered the 4-T Trend testing below trench T-21-3, which returned 19.5 meters at 0.61 g/t Au.
Tocvan also said that at its AGM held on April 8, 2022 in Calgary, shareholders voted in favour of all items put forward, including the appointment of the Board of Directors and fixing the Board size to five, the approval of audited financial statements and the appointment of Dale Matheson Carr-Hilton Labonte LLP, as auditors.
The company said a webinar will be scheduled for mid-May to go over recent drill results and outline next steps for Pilar and El Picacho, adding that its Rogers Creek property transaction is going forward and is planned to be executed in the second to third quarters of 2022.