Gran Pilar 101 – Emerging Producer in the Sierra Madre

Tocvan has positioned Gran Pilar as its flagship gold-silver project and cornerstone of an emerging producer strategy in Mexico's Sierra Madre region. The company has successfully advanced the epithermal vein and breccia system beyond pure exploration, securing critical permits for a 10-year, 50,000-tonne pilot mine facility that will enable scale testing of mining and processing operations.

The project's geology presents compelling economics for near-term development. Gran Pilar hosts classic epithermal mineralization in multiple trends including a Main Zone and several surrounding targets, with much of the gold and silver sitting near surface within oxidized rock. This geological profile aligns perfectly with low-capex, open-pit heap-leach development models that have proven successful elsewhere in the Sierra Madre belt. Drilling has outlined broad zones of mineralization with intercepts demonstrating both grade and width supporting bulk-tonnage operations, while the deposit remains open along strike and in multiple directions.

Metallurgical test work has delivered particularly encouraging results, with recoveries significantly above typical heap-leach averages indicating that simple flowsheets can capture high percentages of contained gold. This strong metallurgical performance directly enhances project economics and reduces technical risk, addressing a critical factor that often challenges early-stage projects. The combination of favorable metallurgy, near-surface oxidized ore, and proven regional mining methods positions Gran Pilar as a lower-risk development opportunity.

Within Tocvan's broader portfolio strategy, Gran Pilar serves as the designated 'path to cash flow' asset, designed to bridge the exploration-to-production gap in a proven mining district. The fully permitted pilot mine facility will generate real operating data while potentially providing early revenue streams, supporting the company's emerging producer positioning in a region where similar epithermal systems have already been successfully developed into operating mines.