Tocvan Ventures (TOC.C) has announced the company has received the required approval for the development of a pilot mine facility at the Gran Pilar gold-silver project in Mexico’s Sonora state. This permit will allow the company to process up to 50,000 tons of rock which and will allow Tocvan to finetune the recovery rates and figure out more details on the metallurgical aspect of the Pilar mineralization. This permits follows on the heels of a recent approval for 67 trenches and 45 new drill pads which will enable the Tocvan to complete approximately 30,000 meters of drilling to continue to target the gold and silver mineralisation on the property.
The pilot facility will focus on the material that will be mined from the higher grade zones while the trenching program will be helpful to determine which rock will be fed to the pilot facility. It’s also important to note that Tocvan will focus on the mineralisation on the land package it fully owns (and not on the JV land) to maximize the potential returns (and minimize dilution) for its own shareholders.
The company has also announced it appointed Chris Gordon as its new head of Corporate Development. Gordon is joining Tocvan from Integra Resources (ITR.V, ITRG), and before that, he was part of the Integra Gold team when the company was sold to Eldorado Gold (ELD.TO, EGO) for C$590M.
Disclosure: The author has no position in Tocvan Ventures. Tocvan is a sponsor of the website. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
