Tocvan Ventures says it is 'extremely pleased' with early stage drill results at flagship Pilar project
The company reported results from the first three holes of its Phase II drill program, in which 17 holes have been sunk so far
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CNSX:TOC
Tocvan Ventures Corp is a resource company that went public in February 2019 looking to take advantage of the prolonged downturn in the junior exploration sector. It is earning into what it sees as two exciting opportunities - the advanced Pilar gold project in the Sonora gold district in Mexico, and the Rogers Creek project in British Columbia Canada. In a cash-and-share deal with Colibri Resource Corp, Tocvan can buy up to 100% of Pillar, which is road accessible, has already had over 17,000 meters of drilling since the 1990s, and lies 140 kilometers south-east of the city of Hermosillo. The firm believes the project can prove up an economic resource in the short term as it must now complete C$2 million of exploration over the next several years. In addition, Tocvan has an option to earn 80% of Rogers Creek from Carube Copper - a project which has already received C$3 million for exploration.
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The company reported results from the first three holes of its Phase II drill program, in which 17 holes have been sunk so far
The new permits are for an additional 44 drill pads and seven trenches at the project in Mexico
So far, 11 holes have been completed for 1,811m and samples for the first five holes have been sent to the lab, the company said
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The preliminary metallurgical results hail from two samples taken from a hole reported in December 2020
The company said that its Phase II program will consist of two stages and plans for a minimum of 4,000m of reverse circulation drilling
In all, 207 rock chip samples were collected covering the entire property
A new so-called Triple Vein Zone (TVZ) was identified that extends 350 meters south of the Main Zone, Tocvan said