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• Tocvan reported results from 541 soil samples taken from its ongoing soil and rock chip sampling program at its Gran Pilar gold-silver project.
• Today’s results confirm strong mineralization across the large 2km2 area that was sampled in this release and gives us confidence in the prospectivity across the rest of the large 2,200ha+ land package.
• We recently initiated coverage on Tocvan, find the report here.
• Last month, we interviewed management, view the interview here.
This morning, Tocvan Ventures Corp. (TOC:CSE, TCVNF:OTC), announced the results from 541 soil samples taken within the ongoing soil and rock chip sampling program at its Gran Pilar gold-silver project in Sonora, Mexico. The results reported today cover over 2km2 within the southern block of Gran Pilar and are very impressive with high values being found throughout the sampling grid. This confirms that soil sampling can be a cost-effective tool to locate target areas and, more importantly, shows us the much larger potential for significant mineralization at Gran Pilar. We are maintaining our BUY rating and $0.90/share target on Tocvan Ventures.
Surface soil and rock sampling have been ongoing across the Gran Pilar area with a focus on the northern and eastern extensions of the Main Zone, North Hill and 4-T trends (Figure 1). To date, 541 soil samples and 184 rock chip samples have been collected, with the 541 soil samples being reported today. These samples were taken over a 2km2 area within the southern block of Gran Pilar where Tocvan holds 100% interest. The southern block remains unsampled and open 1.4km east and 400m south of today’s soil grid providing another ~4km2 remaining open for additional discovery within the southern block alone.
Highlights from today’s results include:
• 21.2 g/t Au and >2,000 g/t Ag, 1,000m NE of the Main Zone
• 2.4 g/t Au and 21.9 g/t Ag, 1,700m ENE of the Main Zone
• 1.3 g/t Au and 299 g/t Ag, 390m NNE of the Main Zone
• 1.2 g/t Au and 8.2 g/t Ag, 1,700m E of the Main Zone
• 62 of 541 sampled over 0.1 g/t Au or 100ppb
• 350 of 541 sampled over 0.02 g/t Au of 20ppb (still considered anomalous)
The most notable sample (21.1 g/t Au and >2,000 g/t Ag) also includes 0.62% Cu, 12.7% Pb and 2.3% Zn and coincides with nearby historic mine workings. This is within a broader zone of anomalous values that extends for over 800m x 500m and to highlight the sample’s significance, the highest sample ever taken at the Main Zone was 8.1 g/t Au & 12 g/t Ag. Furthermore, the samples just to the north of North Hill (Figure 1) could provide as low-cost targets for resource growth following the planned maiden resource estimate on the Pilar Main Zone.
TOC: Soil Sample Results Expand Gran Pilar Mineralization
What you need to know:• Tocvan reported results from 541 soil samples taken from its ongoing soil and rock chip sampling program at its Gran Pilar gold-silver project.
• Today’s results confirm strong mineralization across the large 2km2 area that was sampled in this release and gives us confidence in the prospectivity across the rest of the large 2,200ha+ land package.
• We recently initiated coverage on Tocvan, find the report here.
• Last month, we interviewed management, view the interview here.
This morning, Tocvan Ventures Corp. (TOC:CSE, TCVNF:OTC), announced the results from 541 soil samples taken within the ongoing soil and rock chip sampling program at its Gran Pilar gold-silver project in Sonora, Mexico. The results reported today cover over 2km2 within the southern block of Gran Pilar and are very impressive with high values being found throughout the sampling grid. This confirms that soil sampling can be a cost-effective tool to locate target areas and, more importantly, shows us the much larger potential for significant mineralization at Gran Pilar. We are maintaining our BUY rating and $0.90/share target on Tocvan Ventures.
Surface soil and rock sampling have been ongoing across the Gran Pilar area with a focus on the northern and eastern extensions of the Main Zone, North Hill and 4-T trends (Figure 1). To date, 541 soil samples and 184 rock chip samples have been collected, with the 541 soil samples being reported today. These samples were taken over a 2km2 area within the southern block of Gran Pilar where Tocvan holds 100% interest. The southern block remains unsampled and open 1.4km east and 400m south of today’s soil grid providing another ~4km2 remaining open for additional discovery within the southern block alone.
Highlights from today’s results include:
• 21.2 g/t Au and >2,000 g/t Ag, 1,000m NE of the Main Zone
• 2.4 g/t Au and 21.9 g/t Ag, 1,700m ENE of the Main Zone
• 1.3 g/t Au and 299 g/t Ag, 390m NNE of the Main Zone
• 1.2 g/t Au and 8.2 g/t Ag, 1,700m E of the Main Zone
• 62 of 541 sampled over 0.1 g/t Au or 100ppb
• 350 of 541 sampled over 0.02 g/t Au of 20ppb (still considered anomalous)
The most notable sample (21.1 g/t Au and >2,000 g/t Ag) also includes 0.62% Cu, 12.7% Pb and 2.3% Zn and coincides with nearby historic mine workings. This is within a broader zone of anomalous values that extends for over 800m x 500m and to highlight the sample’s significance, the highest sample ever taken at the Main Zone was 8.1 g/t Au & 12 g/t Ag. Furthermore, the samples just to the north of North Hill (Figure 1) could provide as low-cost targets for resource growth following the planned maiden resource estimate on the Pilar Main Zone.
Underlying
Tocvan Ventures
Provider
Atrium Research Corporation
Atrium Research provides institutional quality issuer paid research on North American public equities using deep fundamental analysis. Our research reports are disseminated through Bloomberg, FactSet, Capital IQ, Reuters and many more, as well as through our social media and email distribution lists.
Ben Pirie
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