Tocvan Ventures Corp. (CSE:TOC) CEO Brodie Sutherland told shareholders that the firm is heading towards becoming a “production-orientated company” in 2024 after a significant year of achievements at its Pilar and Picacho gold-silver projects in Sonora, Mexico.
In 2023, Tocvan made a new discovery at Picacho, conducted metallurgical work at Pilar, and consolidated a significant land package around Pilar for gold and silver exploration.
The firm also completed a maiden drill program at Picacho and extracted a bulk sample at Pilar, which demonstrated high recovery potential for gold and silver.
"2023 was another successful year for de-risking both of our gold-silver assets and advancing Pilar towards mine development,” Sutherland told shareholders.
Tocvan's key objectives for 2024 include resource infill and expansion drilling, a maiden resource estimate for Pilar, mine planning and design, and the submission of mine permitting applications. The company also plans to continue metallurgical testing, geological mapping, sampling of new expansion areas, trenching, channel sampling, geophysical surveys, and discovery drilling.
In the coming year, Tocvan said its main focus is to de-risk the Pilar project further with the maiden resource estimation and the submission of mine permitting applications. The company also aims to advance priority drill targets within the new expansion area at Pilar and continue exploration work on both projects.
“With all of these strong indicators our application for mine development will be submitted this year to begin our transition towards a production orientated company,” Sutherland said.
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