Tocvan Ventures Corp. (CSE:TOC) is finding gold in Mexico’s Sonora province
Bob Moriarty | April 26, 2022 | SmallCapPower: Investors need to be looking for low cost, high opportunity companies to invest in. I am going to write about one today named Tocvan Ventures Corp. (CSE:TOC). Tocvan has two important gold projects in Sonora province in Mexico. The projects are surrounded by operating important gold mines in the Sonora Mega shear.
(The following is an article originally published on 321gold.com on March 16, 2022)
The first project is the Pilar low sulfidation gold project located to the Southeast of the La Colorada gold mine in Sonora. To get 51% of Pilar Tocvan has spent $750,000 in cash and exploration and issued two million shares. They still must pay $225,000 and spend $1.4 million in exploration and issue another two million shares. Once they have picked up the 51% they have six months where they can purchase the remaining 49% for $2 million with a 2% NSR or form a joint venture with the vendor.
Prior to now, Pilar has had 22,700 meters of drilling to date with results as high as 94.6 meters of 1.6 g/t Au and 16.5 meters of 53.5 g/t Au with 53 g/t Ag. The company is in the midst of a phase III drill program with 1,200 meters completed so far with results estimated to be released in the next two weeks.
Nine months ago Tocvan signed a deal with Millrock to pick up the El Picacho Gold project for total payments of $1.989 million USD over a five year period to pick up 100% ownership subject to a 2% NSR. El Picacho has had no drilling but has had extensive surface samples taken.
El Picacho has five different high-grade gold advanced targets with two dozen samples showing between 2.4 and 32 g/t Au.
Tocvan is in the process of closing a $600,000 private placement. I have participated and I’m very interested in seeing a drill program started on the El Picacho project. The company is very cheap with a $23 million market cap and two excellent gold projects in a mining friendly country.
Tocvan is an advertiser. I have participated in their PP so naturally I am biased. This is an interesting story but you need to do your own due diligence.
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