Tocvan Ventures Corp. (CSE:TOC) revealed that it has discovered, via drilling, a new trend parallel to the Main zone at its Pilar gold-silver project in Mexico.
The company reported assays from two holes aimed at testing parallel trends. These holes were part of a Phase III drill program, which saw nine holes sunk in a bid to expand the Main zone through 25, 50 and 100-metre (m) step-outs.
One of the two holes was successful in hitting a "significant" zone of broad low-grade gold mineralization, showing 54.9m of 0.3 grams per tonne (g/t) gold starting from just 6.10m depth, including 13.7m of 0.6 g/t gold and 9.2m of 0.6 g/t gold, interpreted to be a new parallel trend. This intersection also included a near-surface quartz vein zone grading a higher 1.6 g/t gold and 29 g/t silver over 4.6m starting from 6.10m depth.
"To conclude this stage of drill results with a discovery of a new trend parallel to our Main zone, gives us confidence in the significance of the mineralized system at Pilar and provides us with more targets to follow up on," Tocvan CEO Brodie Sutherland told investors in a statement.
READ: Tocvan Ventures reports encouraging results from Phase III drilling at Pilar gold-silver project
"For the first drill hole on this trend to return broad low-grade mineralization is extremely encouraging. We are very proud of the team and the success we have had to date, to have eight of nine drill holes return significant mineralization is a testament to their hard work. Planning is underway to complete more drilling within the next month to further evaluate these new target areas," he added.
A second hole tested an area along the 4-T Trend where surface sampling returned consistent gold mineralization. Although no significant mineralization was recorded, a broad anomalous zinc zone with average grades above 500 parts per million (ppm) was recorded from surface to 81.2m depth.
Propylitic alteration recorded in the hole associated with a silicified andesite host suggests the hole is near to more robust mineralization, said the company.
Tocvan was created in order to take advantage of the prolonged downturn in the junior mining exploration sector and is earning 100% into two opportunities in Sonora - the Pilar gold-silver project and the El Picacho gold-silver project.
Pilar is interpreted as a structurally controlled low-sulphidation epithermal project hosted in andesite rocks.
Contact the writer at giles@proactiveinvestors.com