The discoveries keep coming! After Tocvan Ventures (WKN A2PE64 / CSE TOC) recently expanded the high-grade gold and silver mineralization on the Gran Pilar project in Mexico and it turned out that the trend remains open to the south contrary to original expectations, they are now following up. Tocvan has discovered another high-grade mineralization corridor!
The company is currently focusing its reverse circulation (RC) drilling on the 100% owned expansion area. Initial test drilling there had already yielded promising results earlier this year.
Now Tocvan reports, among other things, the results of the follow-up drilling to scout hole JES-24-102, which at the time yielded 16.8 meters with 0.4 g/t gold and 6 g/t silver. Now the company can present, among other things, 6.1 meters with 5.4 g/t gold and 39 g/t silver, which are part of a broader intersection of 41.2 meters with 1.0 g/t gold and 10 g/t silver (JES-25-114). All this from a borehole depth of only 33.6 meters or a vertical depth of just 20 meters below the surface!
Possible Connection to Known Mineralization Corridor!
So far, no other drill hole further northeast has encountered high-grade mineralization, so follow-up drilling is already underway to determine if the mineralization may be connected to the so-called 4-T corridor, which is well-defined 380 meters further southeast. The discovery coincides with a resistivity anomaly that extends vertically over 250 meters according to a CSAMT (Controlled Source Audio-Frequency Magnetotellurics) survey.
The JES-25-114 drill hole is also 170 meters east of JES-24-101. This drill hole had previously yielded, among other things, 3.1 meters with 19.4 g/t gold within an intersection of 106.6 meters with 0.6 g/t gold. Now, the close association of high-grade gold with an intrusive unit in both drill holes suggests that they may be part of the same mineralized trend.
Potential for Mineralization Expansion at Depth
In addition to JES-25-114, Tocvan also received results from drill hole JES-25-113, which showed 3.05 meters with 0.22 g/t gold and 12.5 g/t silver from 56.43 meters depth and a second intersection of 1.53 meters with 0.13 g/t gold and 0.6 g/t silver from 12.48 meters depth. This, according to the company, indicates the presence of lower-grade mineralization at depth, which has the potential to expand the extent of mineralization in this area.
With drill hole JES-25-115, the company encountered an intersection of 1.53 meters with 0.13 g/t gold and 0.9 g/t silver from 15.25 meters depth, indicating minor mineralization near the surface.
Follow-up Drilling Already Completed
Tocvan has now completed follow-up drilling to JES-24-101 and identified underground workings further north through mapping. RC drilling in this area has encountered numerous vein zones that appear similar to those mineralized intersections discovered by the company with JES-24-101. However, the results of these drill holes are still pending. In total, Tocvan is still awaiting results from seven drill holes.
Brodie Sutherland, CEO of Tocvan Ventures, is excited about the latest results from the drilling program at Gran Pilar, as they have once again demonstrated the significant potential for high-grade mineralization at the Gran Pilar project. Mr. Sutherland further stated: “The discovery of another high-grade corridor in the expansion area in conjunction with a geophysical anomaly extending vertically over 250 meters underscores the scale and continuity of mineralization at Gran Pilar. With results pending from seven more drill holes, including follow-up drilling to the exceptional grades intersected in JES-24-101, we are very excited to further define this emerging zone and unlock its full potential. These results, combined with the robust economics of our planned pilot plant, position Gran Pilar as an outstanding gold-silver project in Sonora, particularly against the backdrop of record-high gold prices.”
Given that Tocvan has now made its second significant discovery with its ongoing drilling program, we believe that interested investors who are aware of the risks associated with the exploration sector could use yesterday’s price setback in Canada as an opportunity to take a closer look at the company.
