Tocvan Ventures Corp. (CSE:TOC) has said preparations are underway for its maiden drill program at the El Picacho gold-silver Project in Sonora, Mexico, after a longer-than-expected wet season in the region.
The company said operations are expected to continue through to June of 2023, as it evaluates the potential of several target areas at Picacho and continues to explore, drill and advance its Pilar project also in Sonora.
"We are very excited to be back operating in Sonora as we prepare for drilling our initial program at El Picacho and continuing to evaluate and prepare for the next steps at Pilar,” Tocvan CEO Brodie Sutherland said in a statement.
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“At Picacho, we will be working with an experienced drill contractor with extensive experience drilling the San Francisco Mine from exploration to mine development. We anticipate a busy operating season ahead and look forward to advancing both our projects in Sonora," he added.
All of the target areas have artisanal workings with high-grade gold-silver mineralization and the company is targeting the high-grade along with the untested potential for broader low-grade zones, Tocvan Ventures said, noting that no comprehensive modern exploration has been conducted between the target areas.
Tocvan said it believes there is significant evidence to suggest other target areas can be identified across the 24 square kilometre area that makes up the El Picacho Project.
The company said that from October 1 to 3, 2022, it coordinated a site tour with investors and industry specialists to both Sonora projects. Additionally, the company took part in the core shack and presented at the annual Discoveries Conference in Hermosillo, Mexico from October 4 to 6.
At Pilar the next steps are as follows:
- Bulk Sampling of Trench Material
- Continued Drilling of Infill and Step-outs
- 2,000 meter (m)Infill Drilling
- 3,000m Step-out and Exploration Drilling
- Permitting for on-site test facilities
- Updated Technical Report
At El Picacho the next steps are:
- Maiden Drill Program (San Ramon Prospect)
- Trenching and Surface Evaluation across Target Areas: San Ramon (500m by 500m target area), Jabali (450m trend), Cornea (2,300m trend)
- Prioritization of Other Drill Targets
- Permitted for 15,000m of Drilling and 2,000m of Trenching
The El Picacho Gold-Silver property is interpreted as an orogenic gold system within the regional Caborca Orogenic Gold Belt known for producing gold mines that include La Herradura and San Francisco. The project is 140 kilometers north of Hermosillo and only 18 kilometers southwest of the producing San Francisco Mine.
The Pilar Gold-Silver property has recently returned some of the region's best drill results. Coupled with encouraging gold and silver recovery results from metallurgical test work, Pilar is primed to be a potential near-term producer. Pilar is interpreted as a structurally controlled low-sulphidation epithermal system hosted in andesite rocks. Three primary zones of mineralization have been identified in the north-west part of the property from historic surface work and drilling and are referred to as the Main Zone, North Hill and 4-T.
Tocvan Ventures focuses on taking advantage of the prolonged downturn in the junior mining exploration sector by identifying and negotiating interest in potential opportunities. The company is earning 100% into two projects in Sonora, Mexico: the Pilar Gold-Silver project and the El Picacho Gold-Silver project.
Contact the author at jon.hopkins@proactiveinvestors.com