Tocvan Ventures (TOC.C) has released additional drill results from the El Mezquite trend, part of its now fully owned Gran Pilar project in Mexico’s Sonora state. Hole JES-26-162 contained 247 meters of anomalous gold mineralization and while an average grade of 0.1 g/t gold and 2.61 g/t silver would not be very profitable, even at the current gold price, some of the intervals within the thicker section are interesting.
The drill bit also encountered 6 meters of 0.45 g/t gold and 5.68 g/t silver as well as 10.68 meters of 0.43 g/t gold and 7.16 g/t silver. And more importantly, this hole confirms the presence of a widespread mineralized system, which was previously discovered with intervals of 22.9 meters of 0.8 g/t gold and 215 meters containing 0.6 g/t gold. While the grades in hole JES-26-162 may not be great, it does help the company’s technical teams to gather more information on the 1,300 meter long El Mezquite Trend, located just 1.6 kilometers from the Main Zone.
The company will continue to drill the El Mezquite trend with a combination of step-out and infill drilling, with an aim to integrate this zone with the Main Zone given its proximity. Meanwhile, assay results for 4,511 meters of drilling are still pending so we can expect a continuous news flow with drill updates. And of course, the 50,000 tonne heap leach pilot facility should be up and running in the next quarter.
We will follow up with newly-appointed CEO Chris Gordon in the near future.
Disclosure: The author has a long position in Tocvan Ventures. Tocvan is a sponsor of the website. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
