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Tocvan Ventures announced a significant update on their current drilling program. To date, they have completed 20 drill holes, covering over 2,200 meters. Results from these efforts are still pending.
The company will provide a detailed update during the Resource Mining & Exploration Conference (RMEC) on June 4, 2024, at 1:00 p.m. ET. The virtual event is hosted by Sagacity Capital Media and Guerilla Capital. CEO Brodie Sutherland will lead the presentation, which will include a real-time Q&A session with investors.
Tocvan Ventures announced significant results from its 2024 Reverse Circulation (RC) drilling program at the Pilar Gold-Silver project in Sonora, Mexico.
Highlights include drillhole JES-24-79, which intercepted 42.7 meters of 1.0 g/t gold from 22.9 meters depth, including 3.1 meters of 10.9 g/t gold. This marks the second-best intersection outside the Main Zone to date, located 300 meters northeast of the Main Zone.
Additional exploration holes (JES-24-78, 80, 81, and 82) on the northeastern flanks of known mineralization also showed promising results. Six more drill holes are pending analysis.
CEO Brodie Sutherland noted the results enhance the project's resource potential beyond the Main Zone, with the North Hill trend showing significant near-surface mineralization.
Tocvan Ventures has announced impressive initial results from its 2024 RC drill program at the Pilar Gold-Silver project in Sonora, Mexico. Highlighting this is drillhole JES-24-77, which returned 56.4 meters of 1.0 g/t gold, including 9.2 meters of 5.3 g/t gold, near the surface.
This marks the best intersect from the 4-T trend, situated 400 meters east of the Main Zone, ranking among Tocvan's top five drill results. The findings suggest significant resource potential along the 4-T trend, which is still open at depth.
Additional results from 11 pending drill holes along the same trend are expected. Notably, exploratory drillholes JES-24-74, 75, and 76 encountered only anomalous intervals, requiring further investigation.
CEO Brodie Sutherland emphasized the potential for a low strip ratio during development, which could reduce extraction costs. Overall, the results bolster confidence in the expanding resource potential at Pilar.
Tocvan Ventures Corp. has closed an oversubscribed private placement, raising $420,560 in gross proceeds. The company issued 1,201,600 Units at $0.35 per Unit, resulting in total gross proceeds of $2,520,390. Tocvan also provided an update on the ongoing Reverse Circulation drill program at the Pilar Project in Sonora, Mexico, with first results expected soon.
