Source: Tocvan Ventures Corp.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Tocvan Ventures (TOC) signed an agreement with a neighbouring private mining company to complete its first bulk sample from the Pilar Gold-Silver Project
  • The project is located in Sonora, Mexico and has recently returned some of the region’s best drill results
  • More than 22,000 metres have been drilled to date, with gold-silver mineralization defined from surface along a 600-metre trend and expanding
  • Tocvan Ventures Corp. (TOC) was up 1.92 per cent, trading at C$0.53 per share at 11:50 am ET

Tocvan Ventures (TOC) signed an agreement with a neighbouring private mining company to complete its first bulk sample from the Pilar Gold-Silver Project

The project is located in Sonora, Mexico and has recently returned some of the region’s best drill results.

Highlights:

  • More than 22,000 metres drilled to date
  • Gold-silver mineralization defined from surface along a 600-metre trend and expanding
  • 116.9-metres of 1.2 g/t Au, including 10.2-metres of 12 g/t Au and 23 g/t Ag
  • Preliminary gold recovery from bottle-roll and column leach above 85 per cent
  • 2022 Phase III Diamond Drilling returned robust results, including:
    • 116.9 metres at 1.2 g/t Au, including 10.2 metres at 12 g/t Au and 23 g/t Ag
    • 108.9 metres at 0.8 g/t Au, including 9.4 metres at 7.6 g/t Au and 5 g/t Ag
    • 63.4 metres at 0.6 g/t Au and 11 g/t Ag, including 29.9 metres at 0.9 g/t Au and 18 g/t Ag

Bulk sample material will be prepared early in 2023 for processing by the heap-leach method at a private mining operation less than 25 km west of Pilar. Up to 1,000 tonnes of material will be processed for the bulk sample, which will aim to provide a more detailed account of the expected head grade and recovery percentage of gold.

Total duration of the processing and analysis of the bulk sample is expected to span three to four months. The team will use the information from the sample for planning in coordination for permitting full-scale mine and process facilities on-site at Pilar.

Tocvan CEO Brodie Sutherland said the bulk sample at Pilar is an important next step in showcasing the head grade and recovery of gold.

“We are very fortunate to have access to a local facility with all the needed equipment and support staff to conduct the sample. Planning is now underway to begin the collection and processing of the sample in early 2023. Results from this sample will be used for permitting a full-scale facility at Pilar, expected to be filed early in 2023. The next year is shaping up to be our most important and exciting as we continue to advance our projects in Sonora. We wish all our shareholders a Merry Christmas and a happy and successful New Year, and we’ll be back in early January with more good things to come.”

Tocvan is an early-stage natural resource company engaged primarily in the acquisition, exploration, and development of mineral properties.

Tocvan Ventures Corp. (TOC) was up 1.92 per cent, trading at C$0.53 per share as of 11:50 am ET.


More From The Market Herald

" Osisko Metals (TSXV:OM) invites investors to join them at the Vancouver Resource Investment Conference

Osisko Metals (OM) invites investors to attend the Vancouver Resource Investment Conference (VRIC).

" Plurilock (TSXV:PLUR) appoints Blake Corbet to its Board of Directors

The duo-listed cybersecurity solutions provider, Plurilock Security (PLUR), appoints Blake Corbet to its Board of Directors.

" Current Water Technologies (TSXV:WATR) signs agreement with Singapore-based Separtis Technologies Global

Current Water Technologies (WATR) has established a binding memorandum of agreement with Separtis Technologies Global Pte Ltd of Singapore.

" St Charles Resources (TSXV:SCRS.P) signs new agreement for qualifying transaction with Eastern Resources OOD

St Charles Resources (SCRS.P) has signed a business combination agreement with Eastern Resources OOD Eastern Resources.