Published: April 27, 2023 |

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Tocvan Ventures released an update on its operational plans for 2023 at both Pilar and El Picacho gold-silver projects in Sonora, Mexico.

At Pilar Project, with the bulk sample process ongoing, results from the test will be provided as available. Initial sampling of crush reject or duplicate material from the first two-days of crushing blended material has returned consistent gold values. Samples were submitted to local certified lab, LTM. In total, 15 samples were collected. An additional 101 samples have been submitted to ALS for full fire assay and ICP analysis to evaluate gold and silver; results are pending. Trenching at Pilar for the excavation of the bulk sample has opened up new ground and uncovered old workings along key high-grade structures. The company plans to conduct systematic channel sampling across each of these new areas to guide drill targeting and provide important geochemical information of the surface mineralization which will be used in future resource estimation.

Pilar is permitted for 83 drill pads, totalling a minimum of 10,000-meters of drilling across the property to continue to evaluate expansion potential of the known area of mineralization. Over half of the Pilar property has yet to be systematically drilled with follow-up on several new parallel zones to the main zone required. The company will also look to identify new water sources for future use, past drilling has intersected temporary artesian wells that could provide a local source of water. In addition, key environmental information will be compiled for upcoming permit application for mine development.

At El Picacho Project, initial reconnaissance drilling at the Jabali target is planned along with step-out drilling at the new discovery area at the San Ramon target. El Picacho is currently permitted for 14,000-meters of drilling and 2,000-meters of trenching.

“Results from the bulk sample material being crushed are showing very consistent gold grades above the regional average of mines in the area. With the bulk sample progressing we are now planning for the next phase of exploration and drilling at both Pilar and El Picacho,” said Brodie Sutherland, CEO.

“New surface exposure at Pilar from trenching will provide key information of surface mineralization and with systematic channel sampling can be tied into future resource estimates. This will assist in future drill targeting at Pilar as we look to expand the known footprint of mineralization even further,” added Sutherland.

“Across both of our projects we are currently permitted for over 24,000-meters of drilling, which we will look to utilize as we move both projects forward with imminent drilling,” concluded Sutherland.

More than 1,400 tonnes of oxide-gold material have been extracted from select areas exposed at surface across the project area, focusing on the main zone and 4-T trends where preliminary column leach studies have returned promising head-grade and recovery results. Bulk sample material will be prepared for processing by heap-leach method at a private mining operation less than 25 kilometers to the west of Pilar. Information from the sample will aim to provide a more detailed account of expected head-grade and recovery percentage of gold along with providing key information to optimize future production facilities. The information provided from the sample will be used for planning in coordination for permitting of full-scale mine and process facilities on-site at Pilar.

A total of 15 were collected during the first two-days of crushing for the bulk sample. Results are showing very consistent grades. Samples were collected from the conveyor belt over select intervals of time. Bulk sample material was blended from different trench areas.  An additional 101 samples have been collected over the past week and submitted to ALS for fire assay and ICP analysis. Results are pending.

The Pilar Gold-Silver property has recently returned some of the regions best drill results. 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 north-west 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.

The El Picacho Gold-Silver property is interpreted as an orogenic gold system within the regional Caborca Orogenic Gold Belt known for producing gold mines that include La Herradura and San Francisco. The project is 140 kilometers north of Hermosillo and only 18 kilometers southwest of the producing San Francisco Mine. The project totals 24 square kilometers of area showing similarities in geology and structure as the San Francisco Mine. Five primary zones of mineralization have been identified across the property totaling more than six kilometers of prospective trends. Surface sampling and historic workings have identified high-grade gold and silver values. Recently the company completed its first drill program at El Picacho, confirming its model and hitting significant gold mineralization In a step-out to historic workings.

Tocvan Ventures is a well-structured exploration development company. Tocvan was created in order to take advantage of the prolonged downturn in the junior mining exploration sector, by identifying and negotiating interest in opportunities where management feels they can build upon previous success. Tocvan has approximately 39 million shares outstanding and is earning 100 percent into two exciting opportunities in Sonora, Mexico: the Pilar Gold-Silver project and the El Picacho Gold-Silver project.

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