CSE:TOC - Post Discussion
Post by
lifegoeson on Mar 09, 2024 12:33pm
Quiet week of trading, exciting new discoveries outlined.
Another quiet week of trading for Tocvan, closing yesterday at $0.38 on 3,000 shares, with only 64,599 shares trading for the entire week.I find it amazing how few shares are traded each week, I guess this is a testament to the mature shareholder base of Tocvan. The price keeps dipping into the $0.30's with a nice base forming in this range. Shareholders are anxiously waiting for drilling to begin, then yesterday Brodie dangled a carrot by putting out a press release outlining the identification of very high-grade silver with gold values tied to historic artisanal workings six kilometres north of Pilar's Main zone. One sample yielded 1,225 grams per tonne Ag with 3.2 g/t Au, this sample was collected from the slag materials next to historical workings, of note, this sample was 4.49 kilograms. I am amazed at how diverse the new property acquisition is proving to be. Quote, "samples also show higher polymetallic association with sample 334067 returning 0.42 percent copper, 3.4 percent zinc and over 20 percent lead (assay over limit was reached, additional analysis is required to determine total Pb content)." This is a broader zone of alteration that has seen very limited work to date extending 3.3 kilometres by 1.5 kilometres. Quote from Brodie Sutherland, "The results today further showcase the potential for significant mineralization beyond Pilar's Main zone," commented Brodie Sutherland, chief executive officer. "The north alteration zone is providing more evidence of a broad target area. The high silver values along with other pathfinder elements are indicating significant potential for targets at depth. Much of the area remains unexplored to date; however, each time we evaluate more, we are returning with significant findings. Further to the south where placer mining remains active, there is clear evidence for new trends parallel to Pilar's Main zone. These trends are beginning to be evaluated and early mapping and assessment are uncovering more of the potential. We are excited about the potential to generate multiple quality targets for future drill testing, driving new discoveries." The Pilar property is proving to be one of the more diverse geological areas in Sonora. There are numerous historical workings scattered throughout the entire property, from small scale mining operations to larger scale Placer mining operations along old river structures. Given the drainage direction of this area, water flowed to the north and down into old river beds, suggesting this is the potential source of Placer gold. Go to Tocvan's website for a detailed map of the new discoveries (https://tocvan.com/). I really like the target identified south of the extensive placer mining operations (red dot) and the evidence for new trends parallel to Pilar's Main zone. It is the dream of every geologist to find the "Motherload", or the source of gold. I am sure everyone has seen old movies depicting the gold rush that started in the US west. Over 300,000 people arrived in California for the largest gold rush in United States history. It all started when gold was found at Sutter's Mill in 1848, still Mexican territory at the time. Within a year, word had spread across the county about the significant amount of gold being pulled from the rivers and mines.Very few found gold, but the strike at Sutter's Mill in 1848 was clearly the "Motherload" and made many very wealthy. I am confident that drilling will start soon, clearly more planning is required to make sure drilling advances the maiden resource in an efficient manner, and that several high priority drill targets are fully delineated before drilling. My Dad wasn't alive to see the big run in gold prices but I am sure he would have said, "the surge of gold over $2,200 on Friday will eventually awaken junior resource gold companies". At some point, the value proposition for juniors nearing production will become so compelling, the smart money will enter the market looking for deals and driving prices higher. Companies like Tocvan with only 42 M shares outstanding, and trending towards production, represents an excellent investment opportunity. Once the drills start turning, I believe there will be many significant news events that will lead to speculation. I also think gold is going much higher given the high demand for physical gold and the lack of supply. We are in what my dad would say, "the sweet spot".
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