Post by
lifegoeson on Jan 20, 2024 11:15am
Hard to believe it is already January 20th.
Tocvan closed unchanged yesterday at $0.32 on 43,600 shares. Another quiet week with 129,415 shares absorbed from the market, forming a nice flat line at these low prices. As each week passes, we get closer to drilling.
Quiet times deserves quiet trading as many of the long term investors in Tocvan continue to hold on to their positions and average down. My understanding is time has been spent building new roads to new discoveries and getting reading for infill drilling at Pilar.
I remain optimistic that the UAV lidar survey will be completed soon. This survey should lead to pinpoint accuracy when drilling new discoveries and planning for mine infrastructure. Since Pilar is a surface deposit, drilling will proceed rapidly, as well results will be on a quick turnaround cycle. I also expect results from the second Dore Pour to be available soon where extensive channel sample results at Pilar highlighted by 20.0-meters of 1.9 g/t Gold and 9 g/t Silver.
Comments from Brodie begin to shift focus to calculation of a maiden resource and application to begin production, "For the first time we were able to consolidate a significant land package around Pilar for gold and silver exploration. The surrounding area is highly prospective which we were able to quickly prove by sampling significant mineralization 4.5-kilometers from Pilar and by simply outlining the areas that have recently undergone significant placer mine development. We have no doubt numerous targets will be uncovered across this expansive area adding significantly to the resource potential of Pilar. Channel sampling at Pilar returned yet again promising results with grades nearly identical to our bulk sample, putting a strong emphasis towards our next objective to drill and target a maiden resource for Pilar later in 2024. With all of these strong indicators our application for mine development will be submitted this year to begin our transition towards a production oriented company."
Further from the Outlook for 2024, "Tocvan's primary objectives for 2024 are to de-risk the Pilar project further with maiden resource estimation and the submission of mine permitting applications. The ongoing LiDAR survey will be used as the base map for mine development design and planning, an integral part to the next phase of the permitting process. Hydrological and environmental studies are scheduled to complete the MIA. While the permits are in process the Company will evaluate the need and timing for a maiden PEA to assist in securing later mine construction financing."
Everything seems to be going as planned. I can't wait to hear the drills turning.