JRI – Junior Resource Investor

​ @tocvanventures TIme Stamps Below

Companion Article:


Tocvan Venture (TOC.CN) remains one of my top picks. It’s a tightly-held and smartly-managed gold explorer/developer operating its Gran Pilar flagship project in the world-class mining district of Sonora, Mexico. Sonora is among the cheapest places in the world to both explore and produce gold.

Tocvan is working to defy the typical junior exploreco model tbat relies on M&A to produce a happy ending. Rather than relying on a buyer, given the remarkably low economic hurdles that are to be found in Sonora as an at-surface heap leach project, CEO Brodie Sutherland is preparing for Tocvan to bring Gran Pilar to production themselves.

In pursuit of this, Tocvan is months away from initiating a 50,000 tonne bulk sample heap leach. This pilot-stage mining will be conducted on site and will provide critical insight into overall grade as well as opportunities to fine-tune processing and recovery methods. The data this bulk sample will provide will go a long way in confirming and establishing the potential of Gran Pilar

With a MRE and PEA also expected to follow roughly by the end of the year, Tocvan is approaching a potential inflection point. Indeed, if they execute successfully in 2025, Tocvan’s potential both as an explorer (drilling outside Pilar Main for the first time ever) producer (recovery rates, head grade, final concentrate characteristics, etc.) will have been both confirmed and expanded in critical ways. This could get exciting.

Time Stamps
03:00 2024 Review and 2025 Preview
07:00 Ongoing Drill Program
18:00 Initial Mineral Resource Estimate & PEA
30:00 Pilot Test Mine, Catalysts, and Goals
40:00 Final Thoughts & Outlook for 2025

Disclaimer

The content found in the JuniorResourceInvesting podcast is for informational and entertainment purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. The information provided is accurate to the best of our knowledge, but we are not responsible for errors, omissions, or inaccuracies. We are not registered investment advisors. It is based on opinions, SEDAR+ filings, current events, press releases and interviews but is not infallible. It may contain errors and JuniorResourceInvesting offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on JuniorResourceInvesting or our videos. We may hold equity positions in some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. Similarly, we may have been compensated by the company we interviewed for this episode, which is also an obvious conflict of interest. I work hard to be independent, objective, and selective, but you should be critical of my work. JuniorResourceInvesting may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on JuniorResourceInvesting is to be used at your own risk. By following JuniorResourceInvesting, you agree to hold JuniorResourceInvesting, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred. Rights to all images remain with original owner.

​@orocoresourcecorp.8054 Time Stamps below:

Companion Article:
https://juniorresourceinvesting.substack.com/p/ticking-all-the-boxes-why-oroco-resources

A new company to JRI - Oroco Resource Corp is a copper porphyry developer operating in Sinaloa, Mexico. With 6 billion pounds of payable copper (including inferred), OCO’s Santo Tomas project is no small thing, and with a tiny 1.38:1 strip ratio, strong metallurgy, and solid economics, there’s a lot to like with Oroco.

However, Oroco has taken on some chart damage from its dizzying highs a few years back, and Mexican jurisdictional concerns more recently (cartel violence in Sinaloa and potential federal open pit restrictions) have only added to the downward pressure.

President Ian Graham joins me to discuss Santo Tomas, and how Oroco plans to get back up off the mat to make sure Santo Tomas meets with a happy M&A ending.

Time Stamps
04:30 Financing, PFS Planning, Getting Institutions on Board
8:10 Leapfrog Overview of Deposit and Future Drilling
12:00 Likelihood of Pillar Being Mineralised Enough to be in a Resource, Increasing South Zone ore tonnes.
15:30 PFS Schedule and Proximity to River/Reservoir and Potential Issues
23:45 How Oroco checks all the boxes that turn a deposit into a mine
27:00 Current Shareprice Thoughts – Mexican Open Pit Concerns and Potential Legislative Changes to Mexican Mining Laws
38:50 Oroco’s Challenging Chart History



Disclaimer

The content found in the JuniorResourceInvesting podcast is for informational and entertainment purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. The information provided is accurate to the best of our knowledge, but we are not responsible for errors, omissions, or inaccuracies. We are not registered investment advisors. It is based on opinions, SEDAR filings, current events, press releases and interviews but is not infallible. It may contain errors and JuniorResourceInvesting offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on JuniorResourceInvesting or our videos. We may hold equity positions in some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. Similarly, we have been compensated by the company we interviewed for this episode, which is also an obvious conflict of interest. JuniorResourceInvesting may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on JuniorResourceInvesting is to be used at your own risk. By following JuniorResourceInvesting, you agree to hold JuniorResourceInvesting, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred. Rights to all images remain with original owner.

​ @thesisgold1473 Time Stamps Below
Feb. 10, 2025 Publication

Companion Article:
https://juniorresourceinvesting.substack.com/p/this-is-a-big-project-thesis-gold

Thesis Gold CEO Ewan Webster joins me again for a company update. Thesis continues its growth - both of its Lawyers-Ranch project (4.7m oz, 4.2m oz M+I) and of itself as a company and continues to offer a compelling valuation opportunity for investors - a lot of potential reward for not a lot of risk.

Ewan discusses with me Thesis' recent hires (Dr. Evan Orovan as Chief Geo and Kettina Cordero as VPIR), their advanced efforts in taking Thesis through the feasibility studies process, neighbour Amarc Resource's incredible new porphyry discovery, Thesis' own future discovery plans, as well as a brief discussion of Thesis' finances

Time Stamps
01:00 Transitioning into a Developer
04:30 Plans for Further Exploration and Resource Expansion
09:00 New Hires and Thesis’ Growth
10:45 Thesis and Toodoggone in the Market (The Recent Amarc Discovery)
18:45 Financials and Spending
29:00 Final Takeaways


Disclaimer

The content found in the JuniorResourceInvesting podcast is for informational and entertainment purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. The information provided is accurate to the best of our knowledge, but we are not responsible for errors, omissions, or inaccuracies. We are not registered investment advisors. It is based on opinions, SEDAR filings, current events, press releases and interviews but is not infallible. It may contain errors and JuniorResourceInvesting offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on JuniorResourceInvesting or our videos. We may hold equity positions in some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. Similarly, we have been compensated by the company we interviewed for this episode, which is also an obvious conflict of interest. JuniorResourceInvesting may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on JuniorResourceInvesting is to be used at your own risk. By following JuniorResourceInvesting, you agree to hold JuniorResourceInvesting, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred. Rights to all images remain with original owner.

​@sitkagoldcorp3049

Time Stamps Below

Link to companion article:
https://juniorresourceinvesting.substack.com/p/the-power-of-discovery-a-conversation
​
Here's a video I produced while attending AME Roundup 2025.

Sitka Gold (SIG.V) is a ticker I came across a couple years back and liked them - good jurisdiction, good potential - but never followed up with properly and they gradually drifted off my radar. But recently, I've rediscovered them, and at a good moment in good time, too - an impressive recent resource update and a large, 30,000m, campaign slated for 2025 has Sitka at a very exciting stage in its development - that hopeful, blue sky expansion from a single discovery and deposit into multiple that drives a company's rerating.

VP of Corporate Development Mike Burke joined me for a few minutes while we were at AME to talk Sitka, what it has, and what it is building to preview a potentially transformative year for Sitka.


Time Stamps

00:10 Introduction to Sitka - and its 2025 plans
07:49 Technical Parameters
11:43 Metallurgical Progress
15:47 Future Exploration Plans and Potential
19:40 Strip Ratio Discussion


Disclaimer

The content found in the JuniorResourceInvesting podcast is for informational and entertainment purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. The information provided is accurate to the best of our knowledge, but we are not responsible for errors, omissions, or inaccuracies. We are not registered investment advisors. It is based on opinions, SEDAR+ filings, current events, press releases and interviews but is not infallible. It may contain errors and JuniorResourceInvesting offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on JuniorResourceInvesting or our videos. We may hold equity positions in some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. Similarly, we may have been compensated by the company we interviewed for this episode, which is also an obvious conflict of interest. I work hard to be independent, objective, and selective, but you should be critical of my work. JuniorResourceInvesting may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on JuniorResourceInvesting is to be used at your own risk. By following JuniorResourceInvesting, you agree to hold JuniorResourceInvesting, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred. Rights to all images remain with original owner.

@foundersmetals
Time Stamps Below

Link to companion article:
https://juniorresourceinvesting.substack.com/p/founders-metals-bags-another-brand


The rate that Founders continues to put new discoveries on the board is impressive, this time the impressive initial results coming out of the Da Vinci target that has seen strong grade in all 5 holes released to date, including 21m of 3.24 g/t Au and 36.0 m of 2.21 g/t Au.

CEO Colin Padget joins me again along with VPX Pascal Voegeli for the first time. This one is a must listen - lots of great insights into their methodology and updates on a wide range of soon-to-be drilled targets. It seems strange to say after the run Founders has had, but they might yet be at another inflection point in terms of the potential and demonstrated scale of their Antino land package. And with four rigs and four surface teams, the rate of discovery is only going to get faster in 2025.

Time Stamps

01:00 Intro to Pascal and the Evolution of his Responsibilities with Founders
08:00 When did you realise you had something special with Antino?
12:00 What part of this story you think the market doesn’t fully grasp yet?
14:00 Discussion of Da Vinci News Release
19:45 Size of this discovery at Da Vinci
22:00 How high confidence is your above ground exploration in identifying below ground discoveries?
25:45 Conversation about new targets that haven’t been drilled yet.
32:15 Where are you at with Lawa
37:00 Where are the rigs, and, assays outstanding?

Disclaimer

The content found in the JuniorResourceInvesting podcast is for informational and entertainment purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. The information provided is accurate to the best of our knowledge, but we are not responsible for errors, omissions, or inaccuracies. We are not registered investment advisors. It is based on opinions, SEDAR+ filings, current events, press releases and interviews but is not infallible. It may contain errors and JuniorResourceInvesting offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on JuniorResourceInvesting or our videos. We may hold equity positions in some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. Similarly, we may have been compensated by the company we interviewed for this episode, which is also an obvious conflict of interest. I work hard to be independent, objective, and selective, but you should be critical of my work. JuniorResourceInvesting may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on JuniorResourceInvesting is to be used at your own risk. By following JuniorResourceInvesting, you agree to hold JuniorResourceInvesting, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred. Rights to all images remain with original owner.

Time Stamps Below @gigametals

With nickel sentiment and price continuing to suffer, CEO Mark Jarvis joins me to discuss Giga’s recent plans to explore for game-changing high grade. Giga's Turnagain deposit is one of the largest nickel deposits in the world, but with mediocre grade, its bulk tonnage advantages are muted in such dramatic nickel downturns as now.

So, rather, than sitting still and waiting for nickel sentiment and price to return, Mark Jarvis and his team at Giga have proverbially decided to play offence instead of defence and have brought in international nickel expert Dr. Steve Beresford to approach Turnagain with a fresh perspective dedicated at discovering heretofore unfound high-grade deposits around and beneath its massive Turnagain project.

CEO Mark Jarvis joins me to discuss these plans and what it will take to develop a new slate of drill-ready targets.

Time Stamps

00:10 Intro
1:30 Introduce the news release
8:00 Expand more on the work that needs to be done before these targets are drill-ready.
11:30 Are all targets within the existing footprint or are you looking elsewhere as well?
13:00 More on the Volkovsky-style? What is that?
19:00 Can you give us timelines on when we might expect more detailed plans/updates?


Disclaimer

The content found in the JuniorResourceInvesting podcast is for informational and entertainment purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. The information provided is accurate to the best of our knowledge, but we are not responsible for errors, omissions, or inaccuracies. We are not registered investment advisors. It is based on opinions, SEDAR+ filings, current events, press releases and interviews but is not infallible. It may contain errors and JuniorResourceInvesting offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on JuniorResourceInvesting or our videos. We may hold equity positions in some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. Similarly, we may have been compensated by the company we interviewed for this episode, which is also an obvious conflict of interest. I work hard to be independent, objective, and selective, but you should be critical of my work. JuniorResourceInvesting may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on JuniorResourceInvesting is to be used at your own risk. By following JuniorResourceInvesting, you agree to hold JuniorResourceInvesting, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred. Rights to all images remain with original owner.

@thesisgold1473

Companion Article:
https://juniorresourceinvesting.substack.com/p/on-site-3-video-thesis-golds-lawyers

Following up on my photo essay from my time at their Lawyers-Ranch project, here’s an introductory video of my time there.

I will try not to say too much, as theoretically anything I wanted to say has already been said in my photo essay, which you can read here if you so wish.

To provide some sort of context and introduction, the video you see here is more content from my trip to visit Thesis Gold’s Lawyers- Ranch project in northern BC.

Regardless - the right people in the right project is a powerful combination and maximises a company’s chances of success. As an investor that’s all you could hope for, and that is what was clearly on display for me during my visit.


Disclaimer

The content found in the JuniorResourceInvesting podcast is for informational and entertainment purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. The information provided is accurate to the best of our knowledge, but we are not responsible for errors, omissions, or inaccuracies. We are not registered investment advisors. It is based on opinions, SEDAR+ filings, current events, press releases and interviews but is not infallible. It may contain errors and JuniorResourceInvesting offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on JuniorResourceInvesting or our videos. We may hold equity positions in some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. Similarly, we may have been compensated by the company we interviewed for this episode, which is also an obvious conflict of interest. I work hard to be independent, objective, and selective, but you should be critical of my work. JuniorResourceInvesting may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on JuniorResourceInvesting is to be used at your own risk. By following JuniorResourceInvesting, you agree to hold JuniorResourceInvesting, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred. Rights to all images remain with original owner.

@foundersmetals
Time Stamps Below

Companion Article Found here:
https://juniorresourceinvesting.substack.com/p/founders-metals-does-it-again-a-brand

Bought deals, big board members, and bonanza grades - 2024 has been a heck of a year for Founders Metals (FDR.V). So despite all its successes, you might wonder why yesterday’s news release - 81.9m of 1.01 gpt au - managed to goose the share price some 12%. Colin joins me to provide some context on why these results are such a big deal to what is already an exciting story.

Time Stamps

1:00 Intro to News Release on Initial Drill Results
03:30 The East Structure that “missed”
05:30 Where is the channel sampling in relation to the results
07:30 Hole 3 - 81.9m of 1.01 gpt Au Discussion – Any evidence about where you are in the system from the rocks themselves?
09:00 Discussion of size – length, true width, specific gravity of rocks, number of holes drilled
14:00 What is the significance of this greenfield discovery – does it contribute to your understanding of the systems, does it confirm your working model, etc. How important is it tor your story?
20:15 What other results are coming

Disclaimer

The content found in the JuniorResourceInvesting podcast is for informational and entertainment purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. The information provided is accurate to the best of our knowledge, but we are not responsible for errors, omissions, or inaccuracies. We are not registered investment advisors. It is based on opinions, SEDAR+ filings, current events, press releases and interviews but is not infallible. It may contain errors and JuniorResourceInvesting offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on JuniorResourceInvesting or our videos. We may hold equity positions in some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. Similarly, we may have been compensated by the company we interviewed for this episode, which is also an obvious conflict of interest. I work hard to be independent, objective, and selective, but you should be critical of my work. JuniorResourceInvesting may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on JuniorResourceInvesting is to be used at your own risk. By following JuniorResourceInvesting, you agree to hold JuniorResourceInvesting, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred. Rights to all images remain with original owner.

Time Stamps Below

Companion Article and Summary at:
https://open.substack.com/pub/juniorresourceinvesting/p/the-elements-of-success-intro-to?r=25pwww&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true

I have on Cassiar Gold Corp for the first time. If you’ve been active in this space the past few years, there’s a good chance you have come across this one. They burst onto the scene with new management and a new land package just in time for the mini-bull run from 3 or so years ago. However, like many in the junior explorer sector, good work has fallen on deaf ears the past few years. CEO Marco Roque joins me to discuss Cassiar and why it remains on track to successfully discover, expand, and sell a major resource.



Time Stamps
1:00 Elevator Pitch – The People
4:30 Elevator Pitch – Infrastructure
08:10 Met Work
10:20 Exploration Potential and Current Drill Campaign
14:00 Cost of Drilling All In
16:00 When can we expect a new MRE and explain your strategy going for inferred vs upgrading ounces
20:00 Why did the previous operator move on?
23:30 How do you effectively explore such a large land package
26:45 Rationale behind no PEA yet
31:15 is there a resource size you believe is critical mass required to release a PEA?
32:45 Is there anything you would do differently in hindsight over the past few years?
38:00 Has your strategy shifted away from the mill?
42:30 Final Thoughts

Disclaimer

The content found in the JuniorResourceInvesting podcast is for informational and entertainment purposes only and is not to be considered personal legal or investment advice or a recommendation to buy or sell securities or any other product. The information provided is accurate to the best of our knowledge, but we are not responsible for errors, omissions, or inaccuracies. We are not registered investment advisors. It is based on opinions, SEDAR filings, current events, press releases and interviews but is not infallible. It may contain errors and JuniorResourceInvesting offers no inferred or explicit warranty as to the accuracy of the information presented. If personal advice is needed, consult a qualified legal, tax or investment professional. Do not base any investment decision on the information contained on JuniorResourceInvesting or our videos. We may hold equity positions in some of the companies featured on this site and therefore are biased and hold an obvious conflict of interest. Similarly, we have been compensated by the company we interviewed for this episode, which is also an obvious conflict of interest. JuniorResourceInvesting may provide website addresses or links to websites and we disclaim any responsibility for the content of any such other websites. The information you find on JuniorResourceInvesting is to be used at your own risk. By following JuniorResourceInvesting, you agree to hold JuniorResourceInvesting, its owner, associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred. Rights to all images remain with original owner.