Tocvan Ventures (TOC.C) has competed the surface evaluation and data compilation program on the San Ramon prospect, one of the main areas of the El Picacho project. The company wanted to follow up on two historical exploration programs completed by Timmins Gold in 2008 and by Millrock Resources (MRO.V) in 2016. These two companies sampled the underground drive with excellent results as the Timmins exploration program encountered an average gold grade of 5 g/t based on 28 chip samples. Of course there is quite the variation as the encountered grades ranged from 0.3 g/t gold to 22 g/t gold. And about ten years later, Millrock send a handful of samples to the lab for analysis and the nine rock chip samples contained gold grades between 2 and 18 g/t.
And just a few hundred meters to the north from the underground drive, a second underground working was also sampled by Timmins gold and the nine samples submitted for analysis returned values between 0.5 g/t and 8.2 g/t gold with silver values up to one ounce per tonne. The average grade of 3.6 g/t is also quite encouraging.
Of course it still is early days at the San Ramon prospect but Tocvan seems to have confirmed the status as ‘Prospect Numero Uno’ on the El Picacho project. The interpretation of the results of the various exploration programs confirm the presence of gold-bearing mineralization along a 500 meter trend, open in all directions. The mineralization has been traced to a vertical depth of approximately 60 meters but it also remains open at depth.
This confirms the target area measures approximately 500 meters by 500 to 600 meters with the historical workings as epicenter.
We are travelling to Mexico next week to visit Tocvan’s flagship Pilar project as well as the El Picacho project so you can expect a site visit report shortly afterwards.
Disclosure: The author has a long position in Tocvan Ventures. Tocvan is a sponsor of the website. Please read our disclaimer.