Tocvan Ventures Corp. (CSE:TOC) said it has completed a total of seven reverse circulation (RC) drill holes totaling 1,382 meters as part of the ongoing Phase III drilling program at its Pilar Gold-Silver project in Sonora, Mexico.
Drilling focused on the 4-T expansion and extension targets and a new trend discovered during the last stage of drilling. Samples from all seven drill holes have been submitted to ALS (Hermosillo) for analysis, with results expected later this month.
The company said in an update to investors that planning is underway for drilling step-outs further along trend to the southeast of target areas.
READ: Tocvan Ventures says initial testing at Pilar returned over 85% gold recovery
Tocvan also said under its sharing agreement, it is set to receive the first monthly payment of C$344,636.52, minus legal fees of C$3,315.20.
The company also announced that it has approved a grant of 1,300,000 incentive stock options to officers, directors, and consultants of the company, which will vest quarterly over a one-year period from the grant date, exercisable at a price of $0.72, and expiring on August 5, 2027.
Publicity campaign
Separately, Tocvan said it has engaged Blaze Capital to increase awareness of its gold-silver projects in Sonora, Mexico, through a series of YouTube videos, website content and the latter's newsletter.
Founded by stock market educator Justin Caron in 2018, Blaze Capital has more than 45,000 YouTube subscribers, garnering over 4.5 million views with a total social reach of 100,000. In addition to stock market video content, Caron also founded a stock market data feed platform - thealgo.com - which offers investors an avenue to find data-generated ideas, engage and share with thousands of like-minded investors, and to access Caron's stock portfolio, the company noted.
Blaze Capital has recently begun providing investor awareness services by partnering with select small-cap Canadian securities companies, it said.
"We are very excited to work with Mr Caron at Blaze Capital to engage with a new demographic of investor,” Tocvan said. “Mr Caron has built an outstanding network and we believe that the timing aligns well with the advancement of our company and the shifting market sentiment towards precious metals," it added.
Tocvan Ventures is a well-structured exploration development company, created to take advantage of the prolonged downturn in the junior mining exploration sector by identifying and negotiating interest in potential opportunities. The company is earning 100% into two projects in Sonora, Mexico: the Pilar Gold-Silver project and the El Picacho Gold-Silver project.
Contact the author at jon.hopkins@proactiveinvestors.com