Tocvan Ventures Corp. (CSE:TOC) told investors it has recorded consistent high-grade gold mineralisation in the Phase III drilling program at its Pilar Gold-Silver project in Sonora, Mexico.
Within the broader mineralised interval at the drill target, the company said the silicified sulphide-bearing breccia returned 9.4 metres (m) at 7.6 grams per tonne (g/t) gold and 5 g/t silver.
"We consider this new discovery of high-grade breccia-hosted mineralization on trend with our Main Zone as one of our most significant findings to date,” CEO Brodie Sutherland said in a statement. "It also confirms our exploration model for targeting Pilar is effective in defining and expanding our mineralized zones. Past drilling had returned good indications of mineralization through this 200-metre gap area, but this is the first significant interval to date that outlines the larger potential, and so far, the furthest mineralization recorded to the southwest."
READ: Tocvan says Phase III core drilling at Pilar confirms significant grade and distribution of gold-silver mineralization
Tocvan noted that a total of 1,562m of Phase III drilling has been completed in nine drill holes providing key information across the Main Zone and 4-T Trend. Results for four drill holes are pending, it added.
Drill highlights for core drill hole JES-22-62 include:
- 108.6m at 0.8 g/t gold and 3 g/t silver, from 48.7m
- Including 31.9m at 2.4 g/t gold and 2 g/t silver, from 125.4m
- Including 9.4m at 7.6 g/t gold and 5 g/t silver, from 144.8m
“Drill hole JES-22-62 expands our Main Zone and further confirms there is more to be discovered at Pilar,” Sutherland added. “We look forward to reviewing the remaining drill hole data as it becomes available and planning our next steps at Pilar."
Tocvan said the drilling looked to expand the Main Zone through 25, 50 and 100-metre 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 gold) and hole JES-21-50 (39.7m at 0.96 g/t silver). Drilling also covered the 4-T Trend testing below trench T-21-3, which returned 19.5m at 0.61 g/t gold.
Drill hole JES-22-62 was successful in intersecting a significant zone of gold with broad mineralization in a silicified andesite host (108.9m of 0.8 g/t gold, including 31.9m of 2.4 g/t gold). The intersection included a high-grade breccia zone grading 7.6 g/t gold and 5 g/t silver over 9.4m. The company said the broader low-grade interval correlates with mineralization in the Main Zone Trend, the well-established centre of mineralization at Pilar.
Results are pending for two holes on this trend on either side of JES-22-62. Historic drill hole JES-18-3 intersected a high-grade gold-silver zone returning 13.5m of 5.6 g/t gold and 21 g/t silver, 75m east of JES-22-62. It said this indicates that there are other parallel high-grade zones present in the area.
The Pilar Gold-Silver property is interpreted as a structurally controlled low-sulphidation epithermal project hosted in andesite rocks. Three zones of mineralization have been identified in the northwest part of the property from historic surface work and drilling and are referred to as the Main Zone, North Hill and 4-Trench. Structural features and zones of mineralization within the structures follow an overall NW-SE trend of mineralization. Over 20,700m of drilling have been completed to date.
Tocvan is earning 100% from the Pilar asset and its El Picacho gold-silver project, which it says represents a tremendous opportunity to create shareholder value.
Contact the author at stephen.gunnion@proactiveinvestors.com