Tocvan Ventures Corp revealed that geological mapping and sampling at its El Picacho gold-silver property in Mexico continues at the Jabali prospect, an area with high-grade surface rock chips, and grab samples from exposed quartz-carbonate veins and artisanal workings.
According to the Calgary, Alberta-based exploration development company, 80 samples from historic sample database compilation show a range between 0.01 to 32 grams per ton (g/t) of gold, averaging 3.1 g/t gold over a 500-meter trend.
Detailed geological mapping and rock chip and channel sampling are being conducted to advance the prospect to drill-ready status, noted the company.
"With this being the first drill season at El Picacho for Tocvan we are excited to update our shareholders on yet another prospective drill target, Jabali,” said Tocvan Ventures CEO Brodie Sutherland.
“Jabali is over two kilometers from our priority drill area, San Ramon, and is characterized by a series of artisanal shafts and trenches along what appears to be a shallowly dipping quartz-carbonate vein system. Jabali is already permitted for drilling and surface work is currently underway to move the prospect to drill-ready status.”
Sutherland pointed out that what is even “more exciting” is that these prospects only make up a fraction of “our target areas which include Murcielago, Tortuga, Virgen Maria, Cornea, and Puerto."
The El Picacho gold-silver property is 140 kilometers (km) north of Hermosillo and 18 km southwest of the producing San Francisco Mine. Five primary zones of mineralization have been identified across the 24 square km property totaling over six km of prospective trends. The project has only seen widely spaced reconnaissance drilling with no follow-up.
Pilar property
Tocvan said its Pilar gold-silver property in Mexico has recently returned some of the region’s best drill results. The firm said that 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 northwest part of the property from historic surface work and drilling and are referred to as the Main Zone, North Hill, and 4-T. The Main Zone and 4-T trends are open to the southeast and new parallel zones have been recently discovered. Mineralization extends along a 1.2-km trend, only half of that trend has been drill tested so far. Tocvan said over 22,000 m of drilling has been completed.
Investors can see Phase III Diamond Drilling and RC Drilling highlights here.
Marketing update
In a marketing update, the firm reported a successful trip to the International Precious Metals & Commodities Show, on November 4-5 in Munich, Germany. Tocvan presented to retail investors and small institutional funds on the company’s Sonora projects and took part in a silver panel that included First Majestic, Silver One, Fortuna Silver, and Silver X.
An interview from the conference can be seen here.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive