Tosca Mining Corp.’s (TSXV: TSQ) stock price has been surging of late, up 100% since February 14, 2014, to its current price of 10 cents a share.
The company’s most recent announcement was on January 27, 2014, when it reported results from recent exploration activity carried out on its Carol Copper project, located in the State of Sonora, Mexico, which lies 5 km northeast of the producing Piedras Verdes mine, Mexico’s third largest copper producer with output of more than 70 million lbs per year.
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Previous work by past operators identified widespread polymetallic skarn-style mineralization in a number of areas of the property. Early evidence suggests it may be sitting on top of a porphyry. Trenching results have included 48 metres of 0.86% copper and 16.57 g/t silver.
Tosca re-opened select portions of two of these trenches, BS-06 and BS-08, to validate past results in preparation for a proposed drill program.
“These results confirm the presence of significant mineralization on the ground (referring to the continuous chip channel sampling in both trenches conducted at one metre intervals),” Jonathan George, a Director of Tosca Mining and consulting geologist, told SmallCapPower.com.
Tosca is planning a series of 10 to 12 shallow holes to test underneath the trenches and hopefully get into primary ore below the leached and oxidized near-surface mineralization.
In a recent interview with Small Cap Power (read the interview here), Mr. George said that there were 17 trenches done in the past, many of which showed values of more than 1% copper equivalent widespread over an area of more than a kilometre by 800 metres.
Tosca Mining currently has about 17 million shares outstanding, or approximately 26 million fully diluted.
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About Tosca Mining:
Tosca Mining Corporation (TSXV: TSQ) is an exploration stage company focused on precious and base metals opportunities throughout the Americas.
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Tosca Mining is a featured sponsored company and has paid SmallCapPower.com a fee for coverage.
