- Tocvan Ventures (TOC) announced results for the first three drill holes completed at its El Picacho Gold-Silver project in Sonora, Mexico
- 10 holes totalling 1,075.1-metres were completed at the San Ramon Prospect, testing for low-grade mineralization adjacent to historic underground workings that have returned high-grade gold with silver
- Hole SRA-22-003 yielded the best result to date, returning 27.5-meters of 0.5 g/t Au, including 12.2-metres of 1.1 g/t Au
- Tocvan Ventures Corp. (TOC) was up 1.82 per cent, trading at C$0.56 per share as of 11:10 am ET
Tocvan Ventures (TOC) announced results for the first three drill holes completed at its El Picacho Gold-Silver project in Sonora, Mexico.
10 holes totalling 1,075.1 metres were completed at the San Ramon Prospect, testing for low-grade mineralization adjacent to historic underground workings that have returned high-grade gold with silver.
All three intersected oxidized quartz vein zones with alteration indicating the potential for gold and silver mineralization. Hole SRA-22-003 yielded the best result to date, returning 27.5 meters of 0.5 g/t Au, including 12.2 meters of 1.1 g/t Au.
The remaining drill holes tested two separate areas, both 200 metres to the south and southeast of Las Guijas. Analysis and interpretation of this data will be used to plan follow-up drilling.
El Picacho is host to several other target areas permitted for drilling that span across the 24 km2 project area.
Tocvan CEO Brodie Sutherland explained that to hit significant mineralization in the first round of drilling at El Picacho is a massive achievement, and there is still more to come.
“We have now confirmed that the San Ramon Prospect has the potential to host a sizable near-surface bulk oxide-gold target, and we look forward to reviewing the remaining drill holes to plan our next steps at El Picacho. It is important to note the significance of hitting mineralization of this style with a relatively modest drill program. We have essentially started to prove our model is correct within the first 400 meters of drilling. Part of our objective with this program is to test different orientations to better understand which drill direction yields the best results related to higher-grade vein-hosted gold and silver. With similarities to the local San Francisco Mine (18 km to the northeast), which was discovered from very similar surface characteristics and substantial artisanal workings. We look forward to evaluating these results and data to further unlock the potential of El Picacho.”
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 1.82 per cent, trading at C$0.56 per share as of 11:10 am ET.
