Tocvan Ventures (TOC.C) has provided an exploration update on its flagship Gran Pilar project, where it is working on a 20,000 meter drill program. Just over a quarter of the drilling has now been completed, with results pending from 21 holes. The company is now switching out an RC rig for a core drill rig to get additional data on the structural geology. Ideally, Tocvan would like to add a third rig, but has warned for availability issues, so sourcing an available rig may take a bit longer. Adding a third rig would of course speed up the drill program.
The company also has submitted several hundreds of South Block rock and soil samples to the lab. The surface exploration program there which was focusing on extending the mineralized area has encountered more historical underground mine workings, further highlighting the potential of the South Block in the greater scheme of things. The process of mapping historical underground workings along the El Mezquite trend is ongoing, and follow-up drilling is underway.
With two rigs actively working on the project and with thousands of meters of drilling submitted to the lab, Tocvan Ventures will have a very busy summer when it comes to news flow. The perfect setting to complete a maiden resource estimate at Gran Pilar after compiling all the drill data into a model.
Disclosure: The author hasa 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.
