- Location: Suaqui Grande - Sonora
- Stage: Advanced Exploration
- Ownership: 49% owned (no royalties)
- 51% owned by Tocvan Ventures
- Drill intersections of up to 94.6m of 1.6 g/t Au including 9.2m of 10.8 g/t Au and 41.2m of 1.1 g/t Au
- Near Surface Mineralization
- Oxidized, Open Pit Heap Leach Potential, Low Sulfidation/Epithermal, Highly Fractured
Pilar Gold & Silver Project - Joint Venture
Summary
Exploration To Date
- Identified Mineralized zone: 1,200m x 625m
- Drill tested and remains open on trend and at depth
- 22,000m cumulative Drilling (Core & RC) - to approx. 175m vertical depth
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Pilar Bulk Sample Summary:
- 62% Recovery of Gold Achieved Over 46-day Leaching Period
- Head Grade Calculated at 1.9 g/t Au and 7 g/t Ag; Extracted Grade Calculated at 1.2 g/t Au and 3 g/t Ag
- Bulk Sample Only Included Coarse Fraction of Material (+3/4” to +1/8”)
- Fine Fraction (-1/8”) Indicates Rapid Recovery with Agitated Leach
- Agitated Bottle Roll Test Returned Rapid and High Recovery Results: 80% Recovery of Gold and 94% Recovery of Silver after Rapid 24-hour Retention Time
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Additional Metallurgical Studies:
- Gravity Recovery with Agitated Leach Results of Five Composite Samples Returned
- 95 to 99% Recovery of Gold
- 73 to 97% Recovery of Silver
- Includes the Recovery of 99% Au and 73% Ag from Drill Core Composite at 120-meter depth
- Gravity Recovery with Agitated Leach Results of Five Composite Samples Returned
- 2,650m+ of Channel/Trench Sampling
- Trench samples as high as: 55.4 g/t Au over 3m, 28.6 g/t Au over 6m, and 3.39 g/t Au over 50m
- Magnetic & 3DIP Surveys completed over full concession
- Extensive Chip Samples & Soil Samples (mapped)
- Au in Soils in undrilled area reach as high as 2.03 g/t Au
Past Drilling Highlights
- 2022 Phase III Diamond Drilling Highlights include (all lengths are drilled thicknesses):
- 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 Highlights include (all lengths are drilled thicknesses):
- 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 Highlights include (all lengths are drilled thicknesses):
- 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
- 15,000m of Historic Core & RC drilling. Highlights include:
- 61.0m @ 0.8 g/t Au
- 21.0m @ 38.3 g/t Au and 38 g/t Ag
- 13.0m @ 9.6 g/t Au
- 9.0m @ 10.2 g/t Au and 46 g/t Ag
Geophysical Survey Highlights
- Figure 1a: Zones of mineralization (North Hill, Main, 4-Trench) as outlined by historic drilling.
- Figure 1b: 3D Inversion Magnetic Susceptibility slice at ~350m depth. NW-SE shear corridor with N-S structures bounded within.
- Figure 2: 3D Magnetic Inversion (~350m depth). NW-SE shear corridor bounding N-S structures.
- The study has interpreted underlying structures which may have acted as the “plumbing” required to create the shallow mineralization identified near surface by historical drilling and sampling.
- This structure is hypothesised to be 1000m by 250m by 300m.
- Target is higher grade and continuity of mineralization associated with lower order “feeder” structure.
Go Forward Plans
➢ Advanced Interpretation and Modeling
➢ Resource Infill Drilling
➢ Exploration Drilling
➢ 43-101 Compliant Resource Estimation - 2024/2025
➢ Preliminary Economic Assessment - 2025
➢ Potential Open Pit Heap Leach Operation - 2026