Tocvan Ventures (TOC.C) has released the assay results from three new holes that were drilled outside of the Main Zone (but still on the part of the land package that’s in a 51/49 joint venture with Colibri Resources).
As the table above shows, hole JES-25-108 was the best hole with 64.9 meters containing 1.23 g/t gold, starting at surface. This broader interval contains two distinct higher grade mineralized zones with 3 meters of 21.58 g/t gold and 3.8 meters of 2.84 g/t gold. This also means the residual gold value in the remaining 58.1 meters of that hole was just 0.07 g/t gold (which would be below the cutoff grade for this type of oxide-hosted gold mineralization, but the rock would have to be scooped out of the potential pit anyway). One of the main takeaways is that this interval represents the highest grade interval encountered outside of the Main Zone, but still close enough (just 300 meters away) to play an important role in further advancing the Gran Pilar project.
The assay results from hole 107 are quite interesting as well, not necessarily for the 108.2 meters of 0.19 g/t gold but the 56.4 meters of 0.35 g/t gold and almost 9 g/t silver are quite interesting. Within that 56.4 meter interval, there is a higher grade zone of 12.55 meters containing 0.85 g/t gold and 20.3 g/t silver, but also with an intriguing copper kicker of 0.50%.
Tocvan plans to follow up on the high-grade mineralization in hole 108 with a trenching program that will take place in the next phase of the exploration efforts at Gran Pilar. Tocvan has now released the assay results of seven core holes drilled on the JV land, with the assay results from three additional holes still pending.
Disclosure: The author has a long position in Tocvan but recently sold some shares to cover the cost of a warrant exercise. Tocvan is a sponsor of the website. Please read the disclaimer.
