Tocvan Ventures Corp. (CSE:TOC) has said it is 'extremely encouraged' by the latest drill results at the Pilar gold-silver project in Mexico, which continue to suggest mineralization can be extended there.
Seven holes as part of the Phase 3 program were sunk for 1,382 metres (m) and assays from four have been released. All four were drilled in new areas and all hit structures known to host gold-silver mineralization.
Highlights included a length of 22.9m at 0.3 grams per ton (g/t) gold and 19 g/t silver from 27.5m depth in one hole. Another hit 12.2m at a grade of 0.3 g/t of the yellow metal from surface.
"With each progressive stage of reconnaissance drilling along previously untested trends, we are uncovering excellent indications that mineralization continues to the southeast and in parallel trends to our Main Zone," said Tocvan CEO Brodie Sutherland in a statement.
READ: Tocvan Ventures discovers mineralization 600m from main zone in reconnaissance drilling at Pilar
"All seven drill holes intersected alteration, quartz-veining and fault structures known to host significant mineralization at Pilar. All three trends tested during this stage of drilling have shown indications of continued mineralization and warrant follow-up drilling as we believe a much larger system is yet to be defined at Pilar," Sutherland added.
Exploration firm Tocvan was created in order to take advantage of the prolonged downturn in the junior mining exploration sector, by identifying and negotiating interest in opportunities where management feels it can build upon previous successes.
It has around 36 million shares outstanding and is earning 100% into two exciting opportunities in Sonora, Mexico - the Pilar project and the El Picacho gold-silver project.
Contact the author at giles@proactiveinvestors.com