Tocvan Ventures eyes Mexican gold pour by Q4, 2026
Tocvan Ventures Corp. [TOC-CSE, TCVNF-OTCQB, TV3/A2PE64-WKN] has outlined a phased development plan for pilot mine operations at its flagship Gran Pilar gold-silver project in Sonora, Mexico, which is on track for a first gold pour in the fourth quarter of 2026.
The announcement comes after the company arranged a definitive deal to acquire partner Colibri Resource Corp.’s [CBI-TSXV] 49% stake in the project for $3.6 million cash, leaving Tocvan with a 100% interest in over 21 square kilometres of prospective ground, including a 50,000-tonne pilot production facility.
Tocvan has made a strengthened development plan as it transitions Gran Pilar from exploration into pilot-scale production, the company said in a press release, Wednesday. “With all major permits secured and construction well under way, Tocvan is advancing a fully-permitted 50,000 tonne heap leach pilot facility designed to generate cash flow, validate metallurgy at scale and materially derisk the path toward commercial production,’’ the company said.
A 10-year pilot mine permit was secured in August, 2025, followed by a six-year community agreement executed in May, 2026, providing long term stability and expansion flexibility.
“Gran Pilar is entering a pivotal phase,’’ said Tocvan CEO Brodie Sutherland. “This pilot plant operation is the first step towards establishing Gran Pilar as a scalable, long-life gold-silver producer,’’ he said. “With construction progressing, equipment on site and processing infrastructure being built, we remain firmly on track for our first gold-silver dore pour in Q4, 2026. The operating data and cash flow generated will directly inform our commercial development strategy.’’
On Wednesday, Tocvan was unchanged at 57 cents. The shares trade in a 52-week range of $1.29 and 45 cents.
Key components of the phased development plan include a bid to secure and characterize 50,000 tonnes of high-grade oxide feed, and build a 1,76-hectare heap leach pad and containment system.
In a press release on May 28, 2026, Tocvan announced positive drill results from its ongoing 20,000-metre exploration program. It said three new mineralized zones have been identified in step-out exploration drilling, significantly expanding the known footprint of the system beyond the Main zone. At that time, 6,200 metres of the program had been completed.
Meanwhile, in return for its 49% stake in the project Colibri is set to receive $3.6 million in cash, consisting of $2.0 million, payable on closing and $1.6 million within 12 months of the closing date. In addition, Colibri will retain the NSR royalty, which Tocvan can repurchase for a one-time cash payment of $1.0 million.
The transaction is expected to significantly strengthen Colibri’s financial position while allowing shareholders to retain long-term exposure to the Pilar Project through the retained 1.0% net smelter return royalty. Proceeds are expected to provide the company with increased flexibility to advance its wholly-owned EP Gold Project and broader exploration portfolio in Sonora, while continuing to evaluate additional exploration and development opportunities.
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