Tocvan Ventures Corp (CSE:TOC) has welcomed the initial findings of a structural analysis of its Pilar gold-silver project in Sonora, Mexico, which show the site could host a world-class discovery.
Major large geological structures, which could be seen as potential 'plumbing' for a deposit, with significant depth containing additional structures favorable for gold-silver mineralization have been identified, the firm told investors.
READ: Tocvan Ventures narrowing down drilling focus at Pilar as it reports highest soil sample results so far
Initial work showed a large structure trending northwest (NW) to southeast (SE) with dimensions of around 250 metres (m) by 1000m with vertical extents measured in multiple 100's of metres extending to surface. Previous work described this structure as a structural corridor holding a shear zone with rotational features with "excellent means of plumbing" for metal-mineral-rich fluids to flow through and deposit.
"We are extremely enthusiastic that the work done at every stage of exploration since negotiating the option to acquire up to 100% interest in the Pilar property has exceeded expectations and increased our understanding and the potential of the property both as having near term production capability and now as potential to host a world-class discovery," Derek Wood, the CEO at Tocvan said in a statement.
He added that previous drilling had identified a high-grade system at surface in the Northwest area of the property known as the Main Zone.
"Upcoming drilling will be focused on expanding areas of known high-grade gold and silver mineralization at surface within areas of previous drilling success and also will now test newly discovered 'at surface' zones and will include deeper drilling to test the mineralization within the newly identified IP anomaly," added Wood.
Tocvan's aim is to establish drill targets to hit grades similar to those found in historic hole S-10 of over 1.7 ounces per ton (oz/t) gold and silver over an intercept of 16.5m in the North Hill Zone.
Tocvan Ventures has around 18.9 million shares outstanding and is earning into two exiting opportunities - the Pilar Gold project in the Sonora state of Mexico and the Rogers Creek project in Southern British Columbia.
Shares in Toronto advanced 9.5% to C$0.23 each.
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