Yesterday Tocvan Ventures Corp (TOC.CSE)(OTCQB:TCVNF) was one of the companies to be in the news after the company came up with a key new update. The company provided the results from the Precious Metal Diagnostic Leach Study that had been conducted at its Pilar Gold-Silver Project located in Sonora, Mexico.
TOC.CN stock gained 2.78% to C$0.74 on Tuesday. The stock had unusual volume with more than 306K shares traded hands, compared to its average volume of 48K. The stock trades on the USA market as well with a stock symbol – TCVNF.
It was a major new development and it may well be a good idea for investors to take a closer look into the whole thing. As many as five samples had been collected for the purposes of the study. Out of the five samples, there were three Main Zone surface channel composites, one drill core coarse reject composite, and one 4-T surface channel composite. All the samples had been collected from the JES-22-62 drill hole and had a depth of 150 meters.
Brodie Sutherland, who is the Chief Executive Officer of Tocvan, came up with a statement with regard to the results. He noted that the results from the study surpassed the company’s expectations and it also provided the company with new information with regard to the optimization of silver and gold recovery at the Pilar property. One of the more important takeaways from the results was that it revealed that there were large percentages of accessible gold and silver which could be recovered through a range of recovery methods.
That would allow Tocvan to now ponder on the best ways in which it could recover the precious metals. Sutherland noted that it was a major new milestone for the project and also an indicator to the industry at large that Pilar could be developed. However, it is important to point out in this regard that despite the positive outcome of the latest study, the company is going to evaluate the bulk sample data over the course of the coming months.