Tocvan Kicks Off Core Drilling at Gran Pilar Gold-Silver Project

Tocvan Ventures Corp. (CSE: TOC) (OTC: TCVNF) (FSE: TV3) has initiated its core drilling program at the Gran Pilar gold-silver project in Sonora, Mexico. The company aims to test specific geological targets and expand upon previous exploration results and metallurgical studies. This article will delve into the significance of this drilling program, its expected timeline, and the potential implications for Tocvan's shareholders.



The Gran Pilar project, located in the mine-friendly Sonora State of Mexico, is Tocvan's flagship asset. The project boasts a significant mineral resource estimate, with an indicated resource of 1.1 million ounces of gold and 1.7 million ounces of silver, as well as an inferred resource of 1.3 million ounces of gold and 2.3 million ounces of silver (as of December 31, 2021). The current drilling program is designed to build upon these resources and further define the extent of the mineralization at Gran Pilar.

The core drilling program will focus on testing the extensions of the Main Zone, North Hill, and 4-T trends, as well as new parallel zones that have been discovered. The structural features and zones of mineralization within the structures follow an overall NW-SE trend of mineralization, which extends along a 1.2-km trend, only half of which has been drill-tested so far. The company is also interested in exploring the potential for additional discoveries across the vast expansion area of the Gran Pilar project.

The current drilling program builds upon previous exploration results and metallurgical studies in several ways. First, the initial three primary zones of mineralization identified on the original property (Main Zone, North Hill, and 4-T) have been expanded upon through the current drilling program. The mineralization trend now extends along a 1.2-km trend, with only half of that trend having been drill-tested so far. This expansion is supported by the following drill highlights:

* 2022 Phase III Diamond Drilling: 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: 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: 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.

Second, the current drilling program also builds upon previous metallurgical studies, which have shown promising gold and silver recovery results. A 46-day leaching period achieved a 62% recovery of gold, with a head grade calculated at 1.9 g/t Au and 7 g/t Ag, and an extracted grade calculated at 1.2 g/t Au and 3 g/t Ag. Additionally, an agitated bottle roll test returned rapid and high recovery results: 80% recovery of gold and 94% recovery of silver after a rapid 24-hour retention time. These results indicate the potential for efficient and cost-effective processing of the mineralized material.

Third, the current drilling program is supported by ongoing surface exploration work, which has expanded the area of interest to over 230 hectares (2.3 square kilometers) across the southern block of Gran Pilar. This expansion is based on predictive gold modeling derived from rock geochemistry and the discovery of multiple underground artisanal workings tied to a broader mineralized system. The pending results from the latest phase of surface sampling (476 samples) are expected to further validate and expand upon these findings.

The expected timeline for the completion of the drilling program and the release of assay results is not explicitly stated in the provided information. However, based on the information from the Money Metals Podcast interview, the drilling program is expected to be completed in phases. The 2022 Phase III diamond drilling program was completed in late 2022, and the 2021 Phase II reverse circulation (RC) drilling program was completed in early 2021. The 2020 Phase I RC drilling program was completed in late 2020. The timeline for the completion of the drilling program and the release of assay results can vary, but it typically takes several months after the completion of drilling to receive and analyze the results. Therefore, it is reasonable to expect that the assay results from the latest drilling programs would be released within a few months after the completion of the drilling.

In conclusion, Tocvan Ventures' core drilling program at the Gran Pilar gold-silver project is an exciting development for the company and its shareholders. The program aims to test specific geological targets, expand upon previous exploration results, and further define the extent of the mineralization at Gran Pilar. The expected timeline for the completion of the drilling program and the release of assay results is not explicitly stated, but it is reasonable to expect that the results will be released within a few months after the completion of the drilling. Investors should watch for these results, as they could have significant implications for Tocvan's share price and the company's future prospects.

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