Tocvan (CSE:TOC) has completed Phase 1 Drilling

Tocvan Ventures recently announced that they have completed Phase 1 drilling, adding another 1,505 meters of RC drilling in 9 holes.  Phase 2 is planned for early 2021. This is following on top of existing 17,700 meters of prior drilling on Pilar. Investors are anxiously awaiting the results from the lab in Hermosillo, as prior drill results showed some promising intercepts, the highlights of which include:

  • 17,700m of Core & RC drilling. Highlights include (all lengths are drilled thicknesses):
    • 0.73g/t Au over 40m
    • 0.75g/t Au over 61m
  • 3g/t Au over 1.5m
  • 27g/t Au over 3m
  • 47g/t Au & 53.4g/t Ag over 16m
  • 64g/t Au over 13m
  • 6g/t Au & 37.8g/t Ag over 9m
  • 2,650m of surface and trench channel sampling. Highlights include:
    • 55g/t Au over 3m
    • 6g/t Au over 6m
    • 39 g/t Au over 50m
  • Soil sampling results from undrilled areas indicating mineralization extends towards the southeast from the Main Zone, North Hill Zone, and 4-Trench Zone

The press release by the company goes into further detail:

Calgary, Alberta – December 22, 2020. Tocvan Ventures Corp. (CSE: “TOC”) (“Tocvan” or the “Corporation”) is pleased to announce the completion of its maiden drill program (the “Program”) at the Pilar Gold-Silver Project in Sonora, Mexico. A total of 1,505 meters of reverse circulation (RC) drilling was completed in nine (9) drill holes. All samples have been submitted to the lab in Hermosillo, results are expected in early 2021 and will be released in batches as they are received.

The Phase I program was designed to provide important structural information for defining drill targets along the main mineralized trend and across the deep-seated feeder-pipe like structures interpreted from geophysics. As the Corporation looks to continue the advancement of the Pilar Project, a Phase II drill program to test these targets is planned for early 2021.

“The ability to efficiently execute our first drill program at Pilar is an important milestone for Tocvan.” commented President and CEO Derek Wood. “As we await drill results, planning has begun for the next phase of exploration. 2021 will be an important year for the Corporation as we look forward to the continued advancement of Pilar.”

The full press release can be found here.

A video of highlights of their drill program can be found here:

 

The CEO of Tocvan Ventures, Derek Wood answers some questions regarding the drilling, the details behind Phase 1 and 2. Derek is looking to confirm previous results (some of which are bonanza grade), expand the known zone and test some of the deeper and newer targets.

Tocvan is still undervalued. Our analysis shows the company is worth over $1.53, while trading around $0.40. Those who want to read our reportcan do so below:

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