Tocvan Ventures Corp (CSE:TOC) announced Thursday that it had appointed veteran geologist Mark Smethurst to take on the role of chief operating officer of the mineral explorer.
Calgary-based Tocvan’s main asset is the Pilar gold and silver project in Sonora, Mexico, which Smethurst was instrumental in helping Tocvan to acquire, CEO Derek Wood said in a statement.
Smethurst has 25 years of experience in the mining and exploration industry, with a special focus on vetting and identifying prospective mineral properties.
In a statement, Smethurst touted Pilar’s investment potential, saying the project had “great possibilities” based on previous drill success.
“I am excited to be joining such a team that is completely committed to enhancing shareholder value as they work to demonstrate economic potential of two exciting and advanced mineral exploration opportunities,” Smethurst said.
Tocvan is hoping to show Pilar’s near term economics by expanding on previous drill success near surface on the Guadalupe concession, according to the Thursday release. The property has significant possibility of hosting a multimillion ounce resource at greater depth and on the underexplored adjoining Sonora concession, Smethurst said.
As part of the appointment, Tocvan granted Smethurst 400,000 stock options exercisable at C$0.15 per share until December 1, 2024.
Tocvan’s shares were trading at C$0.14 on Thursday afternoon.
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