Tocvan Ventures Corp. is currently advancing on several fronts in rapid succession: Just yesterday, the company completed the acquisition of the remaining 49% interest in the original Pilar concessions. As a result, Tocvan now also owns 100% of the roughly 1 km² historic core area hosting the historic Main Zone. The surrounding expansion ground, covering more than 21 km², was already 100%-controlled by Tocvan prior to this transaction.
Today, the next development comes directly from those broader exploration areas: New surface rock samples returning up to 2.4 g/t gold, 67 g/t silver and 1.6% copper have expanded the Bojorquez Target while also defining a new mineralized corridor extending for more than 1,000 m, ~4 km north of the Main Zone.
The strategic importance of this consolidation was discussed in greater detail in the July Rockstone Report.
One distinction is important in the context of today’s exploration news: The newly reported surface discoveries at Bojorquez and within the Central Structural Corridor are not located on the Main Zone ground. They are situated on the surrounding expansion areas that Tocvan already controlled 100%. The transaction instead removes the final third-party interest from the historic core of Gran Pilar.
And today’s results illustrate why that combination is strategically compelling: Tocvan now owns the Main Zone outright while still holding vast surrounding areas that remain largely untested. Despite Gran Pilar’s increasingly advanced development status, today’s news once again makes clear that the project is still far from being fully explored.
THE NEXT DRILL TARGETS ARE EMERGING
The latest fieldwork has further expanded the already established Bojorquez Target, located just 3 km east of the Main Zone. At the same time, Tocvan has identified a new mineralized zone roughly 4 km north of the Main Zone within the Central Structural Corridor.
Rock samples from the area returned peak values of 2.4 g/t gold and 67 g/t silver. Historic mine workings hosted within a tourmaline breccia also returned strong copper values of up to 1.6% Cu.
Even more important, however, is the scale of the structure itself. The Central Corridor has now been traced for more than 1,000 m along strike and follows the same general structural orientation as the Main Zone. Exploration across the corridor is still ongoing, with additional sampling, mapping and soil grids in progress, while the mineralization remains open along strike and completely untested at depth.
Mapping, magnetic data and surface geochemistry all point toward the same corridor. Mineralization is hosted in andesitic volcanic rocks with quartz veining, silicification, hematite alteration and localized brecciation: Features that Tocvan says are comparable to those seen at the Main Zone and Mezquite.
That is why today’s rock sample assays should not be viewed simply as isolated lab values. They are part of Tocvan’s broader target-generation process, aimed at identifying the next discoveries that could follow a similar path to El Mezquite.
GRAN PILAR IS FAR FROM FULLY EXPLORED
And this may be one of the most compelling aspects of the Gran Pilar story. At an advanced-stage project, one might normally expect the key mineralized structures to have already been identified, with exploration increasingly focused on the final definition of a known deposit.
At Gran Pilar, the opposite appears to be happening. The more systematically Tocvan explores its more than 21 km² land package, the more new mineralized areas continue to emerge.
In addition to the historic Main Zone, the growing list of priority areas now includes El Mezquite, Bojorquez, the new Silver-Gold Zone and now the Central Structural Corridor. Large areas toward the North Block also remain only lightly tested, or completely untested, by drilling.
This puts the project in an unusual position: Gran Pilar is advanced enough for Tocvan to be building a pilot operation, while at the same time the real discovery phase across large portions of the property may only just be getting underway.
With 2 drill rigs currently operating, that dynamic becomes even more important. New targets can be tested faster, while successful first-pass holes can be followed up without significant delay. At the same time, the extensive ongoing drill program should provide a steady flow of new results.
In other words, Tocvan is not simply trying to extend known mineralization by a few more metres. The much bigger question is: How many additional mineralized centres are still waiting to be discovered across Gran Pilar?
And it is exactly these 2 sides of the current story – new discoveries and near-term production – that Tocvan CEO Christopher Gordon brings together in his comment in today’s news-release:
“These new surface results expand Bojorquez and open up an exciting new zone four kilometres north of the Main Zone in the Central Corridor. Returning rock samples up to 2.4 g/t gold and 67 g/t silver, with copper values as high as 1.6% associated with old mine workings in a tourmaline breccia, and the Central Corridor already defined over 1,000 metres of strike, further validates the multi-kilometre scale and polymetallic potential of the hydrothermal system at Gran Pilar. At the same time, our pilot facility is advancing rapidly, the heap leach pad is fully prepared for the liner and the processing plant in Hermosillo is near completion. With exploration success and development progress occurring in parallel, we are well positioned to deliver both near-term production and continued resource growth.”
The most important part of the quote comes right at the end: “near-term production and continued resource growth…” That line neatly sums up Tocvan’s current strategy. Gran Pilar is not being held back until the entire project has been fully explored before mine development begins. Instead, the resource base is intended to keep growing through ongoing exploration and new discoveries, while the transition toward production is already advancing in parallel.
DRILLING FOR GROWTH, BUILDING FOR PRODUCTION
Further visible progress has now been made at Tocvan’s fully permitted pilot facility.
According to the company, the heap-leach pad is now fully prepared and ready for the next major step: Installation of the liner, the impermeable membrane that seals the base of the pad. Covering ~1.76 hectares, the heap-leach pad is roughly the size of 2 soccer fields. The entire pilot facility spans about 4.5 hectares, or roughly 6 soccer fields.
At the same time, the processing facility in Hermosillo is nearing completion. In today’s news, Tocvan once again confirmed its target of achieving first production in Q4 2026.
This parallel progression is central to the Gran Pilar story. Normally, an explorer’s investment case changes over time: The discovery phase gradually gives way to the longer process of defining and developing a project.
At Tocvan, however, both phases are advancing side by side. While the pilot facility is expected to generate practical data on mining, processing and metallurgical performance, the 2 drill rigs can simultaneously continue expanding the mineralized system and testing for additional discoveries.
BOTTOM LINE
Today’s news-release is not compelling simply because of a single rock sample returning 2.4 g/t gold or 67 g/t silver. What matters is the pattern behind it: Tocvan identifies mineralization at surface, turns those indications into drill targets, tests the geological concept with initial drilling and then follows up the targets that show promise.
El Mezquite has just demonstrated what that process can lead to: An initial 23 m interval grading 0.6 g/t gold was followed by drilling that ultimately outlined more than 200 m of mineralization at a similar average grade.
Now the map is already filling with the next candidates. Bojorquez is expanding. The Central Structural Corridor has emerged as a new target area. Large parts of the property remain completely untested at depth. 2 drill rigs are operating in parallel, and further drill results are eagerly awaited.
And while Tocvan continues to determine just how large Gran Pilar could become, infrastructure for first production in Q4 2026 is already being built only a few kilometres away.
That means 3 major developments are now converging at Gran Pilar: Tocvan controls the project 100% for the first time, 2 drill rigs are testing a growing pipeline of new targets and the pilot facility is simultaneously moving closer to production.
That combination could generate an unusually compelling newsflow over the coming months: New drill targets can become new discoveries, new discoveries can expand the resource potential and at the same time first production is drawing steadily closer.
If El Mezquite is any indication of what systematic exploration can uncover across Gran Pilar’s still lightly tested ground, then the key question for the coming months may not be whether Tocvan continues to report positive drill results, but which of its many new targets surprises next.
Company Details
Tocvan Ventures Corp.
Suite 1150 Iveagh House
707 – 7th Avenue S.W.
Calgary, Alberta, Canada T2P 3H6
Phone: +1 403 668 7855
Email: bsutherland@tocvan.ca (Brodie Sutherland)
www.tocvan.com
ISIN: CA88900N1050
Shares Issued & Outstanding: 78,735,014
Canada Symbol (CSE): TOC
Current Price: 0.75 CAD (08/27/2026)
Market Capitalization: 59 Million CAD
Germany Symbol / WKN (Tradegate): TV3 / A2PE64
Current Price: 0.476 EUR (08/28/2026)
Market Capitalization: 38 Million EUR
Contact
Rockstone News & Research
Stephan Bogner (Dipl. Kfm., FH)
Müligässli 1, 8598 Bottighofen
Switzerland
Phone: +41-71-5896911
Email: info@rockstone-news.com
Disclaimer and Forward-Looking Information: Rockstone and Tocvan Ventures Corp. (“Tocvan”; “the Company”) expressly point out that all forward-looking information contained in this report does not represent a guarantee of future results or performance. Actual results may differ materially from those projected. Readers are referred to Tocvan’s public filings, available on SEDAR+ at www.sedarplus.ca, for a more detailed discussion of risk factors and their potential impact. All statements in this report, other than statements of historical fact, constitute forward-looking statements. This report includes expectations, interpretations, projections and assumptions based on information available at the time of writing, including public disclosures by the Company and statements made by its management. Forward-looking statements include, but are not limited to, statements, expectations and assumptions regarding: The interpretation, significance and potential economic relevance of the latest surface exploration results from the Bojorquez Target and Central Structural Corridor at the Gran Pilar Gold-Silver Project, including reported rock samples of up to 2.4 g/t gold, 67 g/t silver and 1.6% copper; the interpreted strike length, structural orientation, continuity and scale of mineralization within the Central Structural Corridor; the possibility that the more than 1,000 m long corridor may represent a significant new exploration target; the potential relationship between surface geochemistry, geological mapping, magnetic data, historic mine workings and subsurface mineralization; the possibility that Bojorquez, the Central Structural Corridor and other emerging target areas may generate additional drill targets and future discoveries; the potential for additional mineralized centers across the broader Gran Pilar Project; the interpretation of Gran Pilar as a potentially multi-kilometre, polymetallic hydrothermal system; the continuation of surface mapping, rock and soil sampling, geophysical interpretation and target-generation work; the operation of two drill rigs and the completion of additional exploration, step-out, delineation and expansion drilling; the timing, receipt and interpretation of pending and future assay results; the possibility that systematic exploration methods applied successfully at El Mezquite may identify or advance additional targets elsewhere at Gran Pilar; the potential completion of a maiden mineral resource estimate; the preparation of a Preliminary Economic Assessment (PEA); the construction, completion, commissioning and operation of the fully permitted pilot facility designed to process approximately 50,000 tonnes of mineralized material, including the heap-leach pad, liner system, processing facility and associated infrastructure; the targeted commencement of initial gold-silver production in Q4 2026; the generation of technical, metallurgical, operational and economic data from the pilot operation; the potential use of such data to support future project development or commercial-scale mining; the potential benefits associated with Tocvan’s consolidation of 100% ownership of the original Pilar concessions and the broader Gran Pilar Project; future financing initiatives, strategic partnerships, corporate development activities and additional exploration and development programs. Statements in this report regarding the geological significance of the latest surface results, the possible scale or continuity of the Central Structural Corridor, the significance of elevated gold, silver and copper values associated with historic mine workings, the potential for newly identified surface anomalies to become drill targets or discoveries, the comparison of the current target-generation process with the exploration progression previously observed at El Mezquite, or the interpretation of Gran Pilar as a potentially large, multi-centre mineralized system represent the author’s interpretation of publicly available Company information as of the publication date. Such statements reflect current expectations, geological interpretations and opinions and should not be interpreted as guarantees that drilling will confirm the reported surface mineralization, establish continuity, define a deposit or support future mine development. Surface rock samples are selective by nature and may not be representative of the average grade, continuity, thickness or economic potential of underlying mineralization. Reported values from individual samples, including 2.4 g/t gold, 67 g/t silver and 1.6% copper, should not be interpreted as evidence that comparable grades occur continuously over the reported strike length of the Central Structural Corridor or extend to depth. Likewise, the presence of historic mine workings, alteration, quartz veining, brecciation, geochemical anomalies or magnetic features does not establish the presence of an economically mineable mineral deposit. Further drilling and technical work will be required to determine the geometry, continuity, true width, grade distribution and economic significance, if any, of these target areas. References in this report to the exploration progression at El Mezquite are provided as an example of Tocvan’s target-generation and follow-up exploration process. The progression from surface indications to an initial drill intersection and subsequently to a broader mineralized drill interval at El Mezquite does not imply that Bojorquez, the Central Structural Corridor or any other emerging target will develop in a similar manner. There can be no assurance that current surface anomalies will produce significant drill intersections, that first-pass drilling will confirm mineralization or that follow-up drilling will result in discoveries comparable to those reported at El Mezquite. Statements relating to the operation of two drill rigs, a continuing flow of drill results, further discoveries, potential resource growth or the advancement of additional target areas are based on current Company disclosures, exploration plans and management expectations. Drill programs may be modified, delayed, suspended or discontinued as a result of technical, geological, logistical, financial, regulatory, personnel, equipment, weather, access or other factors. Pending and future assay results may differ materially from expectations and may not support current geological interpretations, demonstrate continuity or expand known mineralization. Statements relating to Tocvan’s acquisition of the remaining 49% interest in the original Pilar concessions, the consolidation of 100% ownership of Gran Pilar and the potential strategic benefits of such ownership are based on current Company disclosures and the author’s interpretation thereof. While consolidation removes the previous ownership split over the approximately 1 km² historic core area hosting the Main Zone, it does not in itself demonstrate additional mineral resources, mineral reserves, economic viability, production capability or future profitability. The newly reported surface discoveries at Bojorquez and within the Central Structural Corridor are located on surrounding expansion ground that Tocvan already controlled 100% prior to the transaction. Statements regarding the potential strategic or economic benefits of full project ownership therefore remain subject to successful exploration, development, financing and future operational performance. Statements regarding the pilot facility, including completion of the heap-leach pad, installation of the liner, completion of the processing facility in Hermosillo, commissioning, processing of mineralized material and the targeted commencement of first production in Q4 2026, are forward-looking. Although the pilot facility is reported by the Company to be fully permitted and construction has advanced materially, there can be no assurance that construction will be completed according to the current schedule, that commissioning will be successful, that first production will occur in Q4 2026 or at all, or that the facility will achieve anticipated throughput, metallurgical recoveries, reagent consumption, operating costs or other technical and economic parameters. Pilot-scale production should not be interpreted as evidence of commercial-scale economic viability and does not replace a mineral resource estimate, economic study or mineral reserve estimate. Statements relating to the future advancement of the Gran Pilar Project, including exploration success, pending drill results, potential resource growth, a maiden mineral resource estimate, a Preliminary Economic Assessment, pilot-scale production, metallurgical performance, future project expansion, commercial development, financing, scalability or similar matters are based on current Company disclosures, management expectations, technical interpretations and the author’s analysis at the time of publication. Such statements are inherently uncertain and should not be interpreted as guarantees of future discoveries, successful exploration results, resource definition, construction progress, pilot production, commercial production, economic viability, project financing or any particular operational or financial outcome. There are currently no mineral reserves defined for the Gran Pilar Project and, unless otherwise disclosed by the Company, no completed maiden mineral resource estimate. Surface sampling, geophysical anomalies, historic workings and drill intersections do not constitute mineral resources or mineral reserves. Reported drill intervals represent downhole lengths and may not reflect true widths. A single surface sample, geochemical anomaly, drill hole or target area, regardless of grade, apparent scale or geological setting, is insufficient to establish the continuity, geometry, tonnage, metallurgical performance or economic viability of a mineralized system. There can be no assurance that further exploration will define economically recoverable mineral resources or ultimately support commercial mining operations. Forward-looking statements are subject to numerous known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied. These include, but are not limited to: The speculative nature of mineral exploration and development; geological, structural, sampling, geochemical, geophysical and metallurgical uncertainties; the selective and potentially non-representative nature of surface rock samples; uncertainty regarding the continuity, true width, orientation, depth extent, grade distribution and lateral extent of mineralization; the possibility that surface anomalies, historic mine workings, alteration features or geophysical targets may not correspond to significant subsurface mineralization; risks associated with exploration, drilling, target generation, resource estimation and economic studies; the possibility that pending assay results, additional drilling or future technical work may not support current interpretations or expectations; the possibility that Bojorquez, the Central Structural Corridor or other target areas may not produce results comparable to El Mezquite or other previously reported discoveries; risks relating to the construction, liner installation, commissioning, operation and performance of the pilot facility and associated processing infrastructure; uncertainties regarding metallurgical recoveries, reagent consumption, operating costs, processing performance and the ability of pilot-scale results to support future commercial development; delays or cost increases relating to construction, permitting, environmental compliance, infrastructure, contractors, laboratories, equipment deliveries, land access, water supply, power availability, community relations or regulatory approvals; financing and liquidity risks; future shareholder dilution; fluctuations in gold, silver and copper prices, exchange rates, energy prices, operating costs and capital costs; capital-market conditions; political, legal, regulatory, environmental, security and social risks associated with operating in Mexico; and other risks beyond the Company’s control. Any references in this report to Gran Pilar’s district-scale or multi-kilometre potential, the emergence of the Central Structural Corridor or Bojorquez as important target areas, the possibility of additional El-Mezquite-style discoveries, the significance of operating two drill rigs, the strategic value of 100% project ownership, the advancement of the pilot facility, potential resource growth, near-term production, commercial development, project value, investment profile, corporate milestones or similar expressions represent the opinions and interpretations of the author based on publicly available information. Such statements should not be interpreted as confirmation of a mineral resource, mineral reserve, future mine, commercial production, economic viability, financing, profitability or investment returns. Forward-looking statements are inherently subject to significant risks and uncertainties and there can be no assurance that such statements will prove to be accurate. Assumptions made by management or interpretations made by the author may prove to be incomplete, overly optimistic or incorrect. Actual results, exploration outcomes, construction progress, production timelines, economic conditions and future events may differ materially from those expressed or implied in this report. Readers are cautioned not to place undue reliance on forward-looking statements and should review the risk factors described in the Company’s public filings before making any investment decision. Neither Rockstone, the author nor Tocvan Ventures Corp. undertakes any obligation to update or revise forward-looking statements, except as required by applicable law.
Disclosure of Interests and Legal Notice: Nothing in this report should be construed as an invitation to buy or sell securities. Rockstone, its owners, and the author of this report are not registered broker-dealers or financial advisors. Before investing in securities, you should always consult your financial advisor and a registered broker-dealer. Never make an investment decision based solely on online or printed reports, including reports from Rockstone – particularly when it comes to small, thinly traded companies. The author of this report, Stephan Bogner, received compensation from Tocvan Ventures Corp. in the amount of 19,000 CAD for a period of 3 months. In addition, he holds securities of Tocvan and will therefore also benefit from increased trading volume and share price appreciation. This represents a significant conflict of interest that may affect the objectivity of this reporting. The author may buy or sell securities of Tocvan at any time without notice, which may give rise to additional conflicts of interest. This report should be understood as a promotional publication and does not replace individual investment advice. All information is current as of the date of publication and is subject to change without notice. Liability for financial losses resulting from investments made on the basis of this report is excluded. The views of Rockstone and the author regarding the companies presented in this report reflect solely their own assessments and are based on information from public sources deemed reliable. Rockstone and the author have not conducted independent due diligence. Neither Rockstone nor the author guarantees the accuracy, completeness, or usefulness of the content, nor its suitability for any particular purpose. There is likewise no guarantee that the companies mentioned will perform as expected, or that comparisons with other companies will prove valid. Please read the full disclaimer carefully. If you do not agree with it, do not use this website or report. By using the website or this report, you agree to the disclaimer, regardless of whether you have read it in full. The information provided is of a general and educational nature. Data, tables, figures, and images, unless otherwise indicated or linked, originate from Tradingview.com, Stockwatch.com, Tocvan Ventures Corp., and publicly available sources.
