Morning Briefing: Tocvan Ventures Outline Phased Development Plan for Gran Pilar Pilot Mine

Good morning and welcome back to the Mining Stock Daily morning briefing. I am Trevor Hall.

It's Wednesday, July 15.

Gold is down 0.41% to $4,038 an ounce. Silver is off 0.82% to $58.18. And copper is essentially flat — off just 0.14% to $6.32 a pound. Nothing dramatic of note this morning.

The geopolitical temperature ticked higher overnight as Russia launched fresh attacks on port infrastructure in Odesa and Mykolaiv, killing several people and damaging key export facilities. Ukraine responded with drone strikes targeting 20 Russian vessels in the Black Sea. That is the most coordinated naval drone campaign of the war to date. The Black Sea has been a critical pressure point for global commodity flows for more than two years. Ukraine's grain and fertilizer exports move through it. So does significant metals-adjacent trade.

And a story that matters directly to the junior mining world: Canada is moving to streamline the permitting process for major mining and infrastructure projects through a centralized digital platform. The platform gives regulators, companies, Indigenous communities, and the public access to the same authoritative science and regulatory information. The goal is to cut duplication, reduce delays, and give all parties a shared factual baseline that speeds reviews rather than bogs them down in competing data sets. For a sector that has watched permitting timelines stretch to a decade or more in Canada, this kind of structural reform could be a genuine catalyst for the domestic industry. Something to watch.

We'll get to the news from the miners and explorers in just a moment, but first a word about today's sponsor.

This episode of Mining Stock Daily is brought to you by…Equinox Gold.

Equinox is in the process of its merger with Orla Mining. Independent Proxy Advisory firms have issued positive voting recommendations to shareholders for the proposed business combination. The new proposed Equinox Gold would create a new Senior Gold Producer in North America with 1.1 million ounces of gold production from six North American mines, all underpinned by a significant gold endowment of approximately 23 million ounces of Proven and Probably Reserves. Learn more about the company and the planned merger at equinoxgold.co

Here's what you need to know today.

Tocvan Ventures has outlined a phased development plan for pilot mine operations at its Gran Pilar Gold-Silver Project in Sonora, Mexico — now 100% controlled following the closing of the Colibri concession acquisition earlier this month. The plan centers on a 50,000-tonne pilot processing facility designed on a compact 1.76-hectare footprint — a deliberate choice that minimizes surface disturbance and keeps capital requirements lean while generating cash flow data from a producing operation. Sonora has a long history of small-scale, high-grade heap leach operations, and the phased approach positions Tocvan to prove the economics at scale before committing to larger capital (CSE: TOC, OTCQB: TCVNF).
News Release

Revival Gold has released more drill results from its 2026 program at the Mercur Gold Project in Tooele County, Utah — a past-producing, low-sulphidation epithermal gold deposit the company has been advancing through to a PFS and toward a development decision. The headline intercepts from the latest batch: 1.65 grams per tonne gold over 30.5 metres and 0.92 grams per tonne gold over 30.5 metres. Both holes confirm grade and width continuity consistent with the resource model at Mercur, supporting Revival's thesis that this district-scale epithermal system has meaningful scale ahead of it (TSXV: RVG, OTCQX: RVLGF).
News Release

Salazar Resources is highlighting a major step forward in the value of its flagship El Domo copper-gold-silver-zinc VMS project in Ecuador, where an updated Feasibility Study has delivered an after-tax NPV at an 8% discount rate of US$573 million — a 121% increase compared to the October 2021 Feasibility Study. El Domo, located in the Curipamba district, is operated by Silvercorp Metals, with Salazar holding a 25% carried interest — meaning Salazar participates in the mine's economics without contributing to capital costs. A 121% improvement in after-tax NPV reflects updated metal prices, revised mine plans, and three-plus years of engineering refinement since the original study. (TSXV: SRL, OTCQB: SRLZF).
News Release

American Eagle Gold has opened its 2026 drill season at the NAK copper-gold porphyry in British Columbia's Babine district with a strong first hole. NAK26-83 returned 154 metres at 1.21% copper equivalent within a broader 280-metre interval at 0.96% CuEq from surface — and that sits within an even wider envelope of 801 metres at 0.49% CuEq from surface. The hole extended the South Zone 100 metres to the north, adding to what is already one of the most exciting undeveloped copper porphyry systems in Canada. This is the first of approximately 80 planned holes in a fully funded 50,000-metre-plus campaign — funded by roughly $50 million in cash. (TSXV: AE, OTCQB: AMEGF).
News Release

Aztec Minerals has returned the strongest hole yet from its RC drilling campaign at the Contention Zone of the Tombstone Property in Cochise County, Arizona. Hole TR26-30 returned 198.1 metres at 0.86 grams per tonne gold and 24.52 grams per tonne silver from surface. Critically, this hole extended the vertical depth of the Contention Zone by more than 85 metres — more than doubling the previously demonstrated depth in this portion of the system. The oxide gold-silver mineralization at Tombstone remains open in multiple directions (TSXV: AZT, OTCQB: AZZTF).
News Release

And Bunker Hill Mining has roughly doubled the footprint of its Cate-8 Discovery Target at the historic Bunker Hill Mine in Silver Valley, Idaho — a target that sits beyond the boundaries of the existing resource and is proving to be one of the more significant new finds in the Silver Valley in recent years. The standout intercept from the latest drilling: hole BHE26-16 returned 8.1 feet at 18.82 ounces per ton silver and 8.87% lead, with individual samples running up to 27.3 oz/ton silver, 35.7% lead, and 15.7% zinc. CEO Sam Ash and the team have now drilled 21 holes at Cate-8. The company is targeting commercial production at the Bunker Hill Mine by the end of 2026 (TSX: BNKR, OTCQB: BHLL).
News Release

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That's it for today everyone. Have a great day. Stay safe.