Tocvan Establishes Broad Footprint of Gold - Silver Potential Across Gran Pilar Open for Expansion
Tocvan Ventures Corp. (CSE:TOC)(OTCQB:TCVNF)(FSE:TV3) has provided an update on its Gran Pilar gold-silver project in Sonora, Mexico. The company has collected over 476 surface samples across a 2.3 km2 area, expanding its exploration footprint. Multiple artisanal underground workings have been discovered, indicating a broader mineralized system. Modelling shows increased expansion potential, advancing targets for future drilling.
Tocvan is preparing for the next phase of drilling, planning 1,200 to 2,000 meters of core drilling and 1,700 to 2,500 meters of RC drilling before year-end. The company aims to complete a maiden resource estimate for the Main Zone and adjacent trends. Additionally, Tocvan is planning a pilot plant facility to evaluate 50,000 tonnes of material on-site, with permitting expected to be complete in Q4 2024 and potential start in Q1 2025.
Tocvan Ventures Corp. (CSE:TOC)(OTCQB:TCVNF)(FSE:TV3) ha fornito un aggiornamento sul suo progetto oro-argento Gran Pilar in Sonora, Messico. L'azienda ha raccolto oltre 476 campioni superficiali su una superficie di 2,3 km², ampliando il suo raggio di esplorazione. Sono stati scoperti vari lavori sotterranei artigianali, indicando un sistema mineralizzato più ampio. I modelli mostrano un potenziale di espansione aumentato, portando avanti gli obiettivi per i futuri perforazioni.
Tocvan si sta preparando per la prossima fase di perforazione, pianificando 1.200-2.000 metri di perforazione a nucleo e 1.700-2.500 metri di perforazione RC prima della fine dell'anno. L'azienda punta a completare una stima delle risorse iniziali per la Zona Principale e le tendenze adiacenti. Inoltre, Tocvan sta progettando una struttura per un impianto pilota per valutare 50.000 tonnellate di materiale in loco, con i permessi previsti per essere completati nel Q4 2024 e un possibile avvio nel Q1 2025.
Tocvan Ventures Corp. (CSE:TOC)(OTCQB:TCVNF)(FSE:TV3) ha proporcionado una actualización sobre su proyecto de oro y plata Gran Pilar en Sonora, México. La empresa ha recolectado más de 476 muestras superficiales en un área de 2,3 km², ampliando su área de exploración. Se han descubierto varios trabajos subterráneos artesanales, lo que indica un sistema mineralizado más amplio. Los modelos muestran un aumento en el potencial de expansión, avanzando hacia objetivos para futuros taladros.
Tocvan se está preparando para la próxima fase de perforación, planificando 1.200 a 2.000 metros de perforación de núcleo y 1.700 a 2.500 metros de perforación RC antes de que termine el año. La empresa tiene como objetivo completar una estimación de recursos inicial para la Zona Principal y las tendencias adyacentes. Además, Tocvan está planeando una instalación de planta piloto para evaluar 50.000 toneladas de material en el sitio, con permisos que se espera se completen en el Q4 2024 y un posible inicio en el Q1 2025.
Tocvan Ventures Corp. (CSE:TOC)(OTCQB:TCVNF)(FSE:TV3)는 멕시코 소노라에 있는 Gran Pilar 금-은 프로젝트에 대한 업데이트를 제공했습니다. 이 회사는 476개 이상의 표면 샘플을 2.3 km² 면적에서 수집하여 탐사의 범위를 확장했습니다. 여러 개의 수공예 지하 작업이 발견되어 더 넓은 광물화 시스템이 존재함을 나타냅니다. 모델링은 확장 가능성이 증가했음을 보여줍니다, 향후 탐사용 표적을 발전시키고 있습니다.
Tocvan은 다음 구멍 작업 단계를 준비하고 있으며, 연말 전까지 1,200~2,000미터의 코어 드릴링과 1,700~2,500미터의 RC 드릴링을 계획하고 있습니다. 이 회사는 주요 구역과 인접한 경향에 대한 초기 자원 추정치를 완료하는 것을 목표로 하고 있습니다. 또한, Tocvan은 현장에서 50,000톤의 물질을 평가하기 위한 파일럿 플랜트 시설을 계획하고 있으며, 허가는 2024년 4분기까지 완료될 것으로 예상되며, 2025년 1분기 시작될 가능성이 있습니다.
Tocvan Ventures Corp. (CSE:TOC)(OTCQB:TCVNF)(FSE:TV3) a fourni une mise à jour sur son projet d'or et d'argent Gran Pilar à Sonora, au Mexique. La société a collecté plus de 476 échantillons de surface sur une surface de 2,3 km², élargissant ainsi son empreinte d'exploration. Plusieurs travaux souterrains artisanaux ont été découverts, indiquant un système minéralisé plus vaste. La modélisation montre un potentiel d'expansion accru, faisant progresser les cibles pour de futures forages.
Tocvan se prépare pour la prochaine phase de forage, prévoyant 1 200 à 2 000 mètres de forage à carottage et 1 700 à 2 500 mètres de forage RC avant la fin de l'année. L'entreprise vise à compléter une estimation des ressources initiales pour la Zone Principale et les tendances adjacentes. De plus, Tocvan prévoit une installation d'usine pilote pour évaluer 50 000 tonnes de matériel sur site, les autorisations devant être complétées d'ici le T4 2024 et un démarrage potentiel au T1 2025.
Tocvan Ventures Corp. (CSE:TOC)(OTCQB:TCVNF)(FSE:TV3) hat ein Update zu seinem Gran Pilar Gold-Silber-Projekt in Sonora, Mexiko, bereitgestellt. Das Unternehmen hat über 476 Oberflächenproben in einem Fläche von 2,3 km² gesammelt und sein Erkundungsgebiet erweitert. Mehrere handwerkliche Untertagearbeiten wurden entdeckt, was auf ein größeres mineralisiertes System hinweist. Modellberechnungen zeigen ein erhöhtes Expansionspotenzial und treiben die Ziele für zukünftige Bohrungen voran.
Tocvan bereitet sich auf die nächste Bohrphase vor und plant 1.200 bis 2.000 Meter Kernbohrungen und 1.700 bis 2.500 Meter RC-Bohrungen bis zum Jahresende. Das Unternehmen strebt an, eine erstmalige Ressourcenabschätzung für die Hauptzone und angrenzende Tendenzen abzuschließen. Darüber hinaus plant Tocvan eine Pilotanlage, um 50.000 Tonnen Material vor Ort zu bewerten, wobei die Genehmigungen voraussichtlich im Q4 2024 abgeschlossen sein werden und ein möglicher Start im Q1 2025 stattfinden könnte.
- Expansion of exploration area to 2.3 km2, 2.2 times the size of original Pilar concessions
- Discovery of multiple artisanal underground workings indicating broader mineralized system
- Planned core drilling of 1,200 to 2,000 meters and RC drilling of 1,700 to 2,500 meters
- Preparation for maiden resource estimate for Main Zone and adjacent trends
- Planning of pilot plant facility to evaluate 50,000 tonnes of material on-site
- Results from 476 surface samples are still pending
- Drilling plans dependent on weather conditions stabilizing in September
Prepares for Next Phase of Drilling and Development
Highlights:
Surface Exploration Work Ongoing at Gran Pilar, over 476 Samples Collected to Date Along Northern and Eastern Extensions of Main Zone, North Hill and 4-T Trends - Results Pending
Sampling Covers 2.3 km2 Area (2.2x the Area of the Original Pilar Concessions)
Multiple Artisanal Underground Workings Found Tied to Broader Mineralized System
Modelling Shows Increased Expansion Potential, Advances Targets for Drilling
CALGARY, AB / ACCESSWIRE / September 10, 2024 / Tocvan Ventures Corp. (the "Company") (CSE:TOC)(OTCQB:TCVNF)(FSE:TV3), is pleased to provide an update from its Gran Pilar gold-silver project in mine-friendly Sonora, Mexico. Surface soil and rock sampling has been ongoing across the Gran Pilar project area with a focus on the northern and eastern extensions of the Main Zone, North Hill and 4-T trends. To date, over 476 surface samples have been collected by technical staff with results pending. The area sampled now totals over 230 hectares or 2.3 square kilometers across the southern block of Gran Pilar (Figure 1).
Figure 1. Predictive gold modelling at surface derived from rock geochemistry (Orange and red outlines). Blue hatched area outlines latest phase of pending results including 476 surface samples. The area marks a notable expansion to the historic work focused at the Main Zone.
"We are pleased with how quickly our area of interest is expanding and the added confidence we are gaining with each progression of Gran Pilar" commented Brodie Sutherland, CEO. "Gran Pilar is largely untapped for resource potential and the work being completed is strengthening our position as a leading explorer and developer in Sonora. As we await the latest results, we can already see the significance of these new areas and the positive impact they have for us moving forward. As discussions continue with potential strategic partners, our conviction to transform Gran Pilar into a top tier asset has never been stronger. We look forward to updating our shareholders throughout this transformation."
During sampling multiple underground artisanal workings were identified that coincide with prospective host rocks and mineralization similar to those recorded at the Main Zone. A soil grid across the area, spanning 675-meters north of the Main Zone and over 2-kilometers east, is now complete and will provide data to finalize the alteration and mineralization modelling for advanced drill targeting of the new area (blue hatched area in Figure 1). Metal distribution and alteration modelling was completed by an independent professional, Guillermo Turner Saad and utilizes over 1,300 rock and soil samples. Pending results from the ongoing surface evaluation work will be incorporated in ongoing model development. The modelling will provide key information for defining target areas for future drilling campaigns and outlining areas appropriate for future mine-infrastructure.
In addition, preliminary alteration modelling across Gran Pilar's southern area has been completed. Key alteration trends modelled from rock and soil geochemistry has begun to outline target areas across Gran Pilar with argillic to advance argillic alteration patterns indicative of robust epithermal mineralized systems. Areas of Interest east of the Main Zone are showing large footprints of alteration that coincide with early reconnaissance sampling completed earlier this year (See Figures 1 and 3). Initial surface results released early this year that identified several high-grade gold and silver zones east of the Main Zone highlighted by 7.3 g/t Au with 177 g/t Ag and 5.5 g/t Au with 80 g/t Ag (see Figure 1 and April 18, 2024 news release) and the ongoing work of small, placer miners in the area which continue to report positive results from several areas of interest. The modelling is showing a significant increase in the broader target potential.
Drill Update
As surface work continues through the rain season in Sonora, preparations continue for the next phases of core and RC drilling that will focus on resource definition. Between 1,200 to 2,000 meters of core drilling are being considered along with 1,700 to 2,500 meters of RC drilling before the end of the year. Additional drilling of exploration targets across Gran Pilar will be considered later in the year. Core drilling will focus on building a robust geological model across Pilar with emphasis on the Main Zone. RC drilling will concentrate on additional infill and step-out targeting across the Main Zone, North Hill and 4-T trends. Upon completion of drilling the Company anticipates a maiden resource estimate will be finalized for the initial Main Zone and adjacent trends providing an initial step of showcasing the full potential of the project area. With plenty of follow-on work to complete in the field before the commencement of drilling, the Company is evaluating optimal timing to start up drilling with weather expecting to stabilize in September.
A renewed drill contract with CANMEX for 3,000 to 5,000-meters of core drilling has been executed encompassing necessary core drilling for resource definition and beyond. This contract accompanies a previous 10,000-meter contract signed for RC drilling across the Gran Pilar property. While monitoring weather conditions the Company is currently finalizing plans for the next phases of drilling it expects to commence in September. In the meantime, the technical team will focus on field exploration and target generation.
Pilot Plant Update
Planning continues for a proposed pilot plant facility at Gran Pilar that will look to evaluate 50,000 tonnes of material on-site. The Company looks to utilize the at surface exposure of mineralization to further evaluate the viability of gold and silver extraction. Permitting is expected to be complete in Q42024 with potential start of pilot mining to be initiated in Q12025. Dialogue between the Company, permitting consultants and regulators has been positive and the Company does not foresee any delays with permitting. The Company will target at surface material expected to average 1.3 g/t Au, and from the 2023 bulk sample testing expects a base recovery of
Figure 2. Predictive silver modelling at surface derived from rock geochemistry (blue outlines). Blue hatched area outlines latest phase of pending results including 476 surface samples. The area marks a notable expansion to the historic work focused at the Main Zone.
Plate 1. New vein discovery within Gran Pilar 1.5km southeast of Main Zone - Results Pending
Plate 2. Photos of Rock Sampling and Exploration across Gran Pilar highlighting new target areas. Several newly discovered artisanal workings were identified and sampled for the first time. - Results Pending.
Figure 3. Target Map of the Gran Pilar Project Area. Recent surface discoveries have highlighted several target zones across the project area.
About the Pilar Property
The Pilar Gold-Silver property has 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. Initially three primary zones of mineralization were identified on the original property from historic surface work and drilling and are referred to as the Main Zone, North Hill and 4-T. Each trend remains open to the southeast and north and new parallel zones have been discovered. Structural features and zones of mineralization within the structures follow an overall NW-SE trend of mineralization. Mineralization extends along a 1.2-km trend, only half of that trend has been drill tested so far. The Company has now expanded its interest in the area by consolidating 22 square-kilometers of highly prospective ground where it has already made significant surface discoveries.
Pilar Drill Highlights:
2022 Phase III Diamond Drilling Highlights include (all lengths are drilled thicknesses):
116.9m @ 1.2 g/t Au, including 10.2m @ 12 g/t Au and 23 g/t Ag
108.9m @ 0.8 g/t Au, including 9.4m @ 7.6 g/t Au and 5 g/t Ag
63.4m @ 0.6 g/t Au and 11 g/t Ag, including 29.9m @ 0.9 g/t Au and 18 g/t Ag
2021 Phase II RC Drilling Highlights include (all lengths are drilled thicknesses):
39.7m @ 1.0 g/t Au, including 1.5m @ 14.6 g/t Au
47.7m @ 0.7 g/t Au including 3m @ 5.6 g/t Au and 22 g/t Ag
29m @ 0.7 g/t Au
35.1m @ 0.7 g/t Au
2020 Phase I RC Drilling Highlights include (all lengths are drilled thicknesses):
94.6m @ 1.6 g/t Au, including 9.2m @ 10.8 g/t Au and 38 g/t Ag;
41.2m @ 1.1 g/t Au, including 3.1m @ 6.0 g/t Au and 12 g/t Ag ;
24.4m @ 2.5 g/t Au and 73 g/t Ag, including 1.5m @ 33.4 g/t Au and 1,090 g/t Ag
15,000m of Historic Core & RC drilling. Highlights include:
21.0m @ 38.3 g/t Au and 38 g/t Ag
13.0m @ 9.6 g/t Au
9.0m @ 10.2 g/t Au and 46 g/t Ag
61.0m @ 0.8 g/t Au
Pilar Bulk Sample Summary:
62% Recovery of Gold Achieved Over 46-day Leaching PeriodHead Grade Calculated at 1.9 g/t Au and 7 g/t Ag; Extracted Grade Calculated at 1.2 g/t Au and 3 g/t Ag
Bulk Sample Only Included Coarse Fraction of Material (+3/4" to +1/8")
Fine Fraction (-1/8") Indicates Rapid Recovery with Agitated Leach
Agitated Bottle Roll Test Returned Rapid and High Recovery Results:
80% Recovery of Gold and94% Recovery of Silver after Rapid 24-hour Retention Time
Additional Metallurgical Studies:
Gravity Recovery with Agitated Leach Results of Five Composite Samples Returned
95 to
99% Recovery of Gold73 to
97% Recovery of SilverIncludes the Recovery of
99% Au and73% Ag from Drill Core Composite at 120-meter depth.
Based on management's strong belief in the project's potential, the Company is outlining a permitting and operations strategy for a pilot facility at Pilar. The facility would underpin a robust test mine scenario with aims to process up to 50,000 tonnes of material. Timelines and budget are being prepared with the aim of moving forward with the development early in 2025. With gold prices hitting all-time highs, the Company believes the onsite test mine will provide key economic parameters and showcase the mineral potential of the area. In 2023, the Company completed an offsite bulk sample that produced important data showcasing the potential to recover both gold and silver through a variety of methods including heap leach, gravity and agitated leach (see August 22, 2023 news release for more details).
About Tocvan Ventures Corp.
Tocvan's advancing gold-silver projects are located in the mine-friendly jurisdiction of Sonora, Mexico. Through ongoing exploration programs, Company is unveiling the high-potential at its Gran Pilar Gold-Silver Project where it holds
Tocvan has approximately 51 million shares outstanding.
Quality Assurance / Quality Control
Samples were shipped for sample preparation to ALS Limited in Hermosillo, Sonora, Mexico and for analysis at the ALS laboratory in North Vancouver. The ALS Hermosillo and North Vancouver facilities are ISO 9001 and ISO/IEC 17025 certified. Gold was analyzed using 50-gram nominal weight fire assay with atomic absorption spectroscopy finish. Over limits for gold (>10 g/t), were analyzed using fire assay with a gravimetric finish. Silver and other elements were analyzed using a four-acid digestion with an ICP finish. Over limit analyses for silver (>100 g/t) were re-assayed using an ore-grade four-acid digestion with ICP-AES finish. Control samples comprising certified reference samples and blank samples were systematically inserted into the sample stream and analyzed as part of the Company's robust quality assurance / quality control protocol.
Brodie A. Sutherland, CEO for Tocvan Ventures Corp. and a qualified person ("QP") as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.
Cautionary Statement Regarding Forward Looking Statements
Neither the Canadian Securities Exchange nor its regulation services provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Forward-looking information in this news release includes statements regarding the use of proceeds from the Offering. Such forward-looking information is often, but not always, identified by the use of words and phrases such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to the speculative nature of the Company's business, the Company's formative stage of development and the Company's financial position. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws.
There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
For more information, please contact:
TOCVAN VENTURES CORP.
Brodie A. Sutherland, CEO
1150, 707 - 7 Ave SW
Calgary, Alberta T2P 3H6
+1-403-829-9877
bsutherland@tocvan.ca
The Howard Group
Jeff Walker
VP Howard Group Inc.
+1-403-221-0915
jeff@howardgroupinc.com
SOURCE: Tocvan Ventures Corp
View the original press release on accesswire.com
FAQ
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