Tocvan Ventures Corp. (CSE:TOC) said it has appointed Ralph Wintermantel and Luis Manuel Arroyo Domínguez to its board.
The company noted that Wintermantel, a resident of Germany brings over 20 years of financial market experience and provides a crucial link to the company’s strong European shareholder base. Meanwhile, Arroyo has 48 years of professional experience in mine operations and will be an excellent resource with his background in moving projects from exploration to production, it added.
Tocvan also said Fred Jones will step down from its board but will remain a close advisor to the company.
READ: Tocvan Ventures says ongoing drilling at El Picacho Gold-Silver Project returns high grade gold with silver mineralization
"With these key additions to our Board the Company strengthens on two important fronts,” said Brodie Sutherland, Tocvan CEO in a statement.
“Mr Wintermantel provides an excellent financial background and an important connection to our European shareholders. Mr Arroyo Domínguez provides a wealth of experience towards the development of both our projects in Sonora, Mexico. As we seek to advance our projects and attract strategic partnerships in the region, Mr Arroyo’s background and network with producing companies increases our ability to execute. Welcome on board," he added.
The exploration development company also said a maiden drill program is ongoing at the El Picacho Gold-Silver Project in Sonora, Mexico. The initial stage of drilling targets the shallow targets defined at the San Ramon Prospect, an area approximately 500-meters by 500-meters in size where two extensive underground workings have returned high-grade gold with silver.
San Ramon represents one prospect of currently seven prospect areas across the 24 square kilometer property that are defined by artisanal underground workings that coincide with high-grade gold and silver mineralization. Collectively these prospect areas make up six kilometers of prospective trend that have yet to be drill tested.
The company said it will provide a full update at the conclusion of the first stage of drilling.
Tocvan was created in order to take advantage of the prolonged downturn in the junior mining exploration sector, by identifying and negotiating interest in opportunities where management feels they can build upon previous success. Tocvan is earning 100% into two exciting opportunities in Sonora, Mexico: the Pilar Gold-Silver project and the El Picacho Gold-Silver project.
Contact the author at jon.hopkins@proactiveinvestors.com