Q: What is the status of El Picacho and Pilar?
A: There has been little drilling done in the history of El Picacho, which we want to change within the next few years. At Pilar, we have been remarkably successful with our drilling. Tocvan’s phase 1 drilling program stands out, as we intersected 94m at 1.6 g/t gold. Later, our phase 2 further stepped outside of our main zone, where we intersected 40m at 0.96 g/t gold. Phase 3, which we are currently developing, features two parts. The first part consists of stepping out and testing for the expansion of our main zone. The second component is confirming historic mineralization with core drilling. Historically, there have been over 22km of drilling done at Pilar, but only 1.2km of diamond core drilling. Reverse Circulation (RC) drilling is great because it is fast and effective but you do not reach the same level of understanding of the geology as with core drilling. Core drilling will allow us to truly see the rock for the first time and compare with historic RC data to gain further insight into the land we are developing.
Q: What is the importance of the company’s 2021 private placement to gather the funding required to continue with such capital-intensive exploration projects?
A: We always went for smaller private placements to advance the project as much as we needed to at that time and did so again in 2021. Each time, the goal is to focus those funds on the development of our project. So far, the private placement prioritizes Pilar. However, as we learn more about Picacho, our attention may shift. When that time comes, which will likely be soon, we will raise a more significant amount of money.
Q: How is Tocvan establishing relationships with local stakeholders in Sonora?
A: We are a new company in Mexico. Therefore, building a relationship with local stakeholders is something we look forward to doing more. For now, we are available to the community whenever they require help or support. Recently, we saw a rise of COVID-19 cases in our surroundings. We were able to support the community by providing tests, which diminished their need to drive to the city to get tested. Building a local team is also crucial for Tocvan. We feel that Mexico and Sonora have a superbly skilled labor base, not only regarding drilling and sampling but also on the technical side of geology and engineering. We are working with local universities, like the University of Sonora, to develop local geological talent and provide them with meaningful professional experience that will boost their careers.
Q: What would you like to achieve during your first year as CEO and President of Tocvan Ventures?
A: I believe Tocvan Ventures has all the elements needed to create success. With two quality assets and a terrific team, we see tremendous opportunity in Mexico. My goal for this year is to entice local developers to see the potential I see in our projects and make them shareholders of Tocvan. Secondly, I aim to advance Pilar toward its first resource estimate. I also strongly believe in El Picacho and its potential; therefore, the goal is to start drilling it and expand from there. We are still in an early stage of growth, so there is a lot of opportunity ahead. Finally, Tocvan is looking to spin out its copper asset in British Columbia because we want Tocvan to become fully focused on Mexico.
Tocvan Ventures is an early-stage natural resources company engaged in the acquisition, exploration and development of mineral properties, currently developing gold and silver projects in Sonora.