TomaGold announces the start of drilling at Monster Lake
- IAMGOLD starts a 5,000-metre drilling program
- The program targets new areas to identify new gold-bearing lenses
MONTREAL, Jan. 23, 2019 /CNW Telbec/ - TOMAGOLD CORPORATION (TSXV: LOT) ("TomaGold" or the "Corporation") is pleased to announce that its joint venture partner, IAMGOLD Corporation ("IAMGOLD"), has started a new 5,000-metre drilling program on the Monster Lake property, located 50 kilometres southwest of Chibougamau, Quebec.
The objective of the drilling program is to evaluate select targets along the structural corridor associated with the 325-Megane deposit. The areas to be drilled include: south of the 325-Megane zone where historical sampling from surface trenches returned up to 6.34 g/t Au over 3.1 metres and 4.26 g/t Au over 2.2 metres from trench ML-10-M1 on Megane 1 Showing; adjacent to the Big Mama target where an east-west mineralized structure converges towards Hole ML-15-147 located directly in the Monster Lake structural corridor which returned a mineralized interval grading 3.64 g/t Au over 10.72 metres (see press release by TomaGold dated June 25, 2015); and in the area of the Annie zone and its immediate extensions where a mineralized interval grading 237.6 g/t Au over 5.7 metres was returned from Hole M-12-60 (see press release by TomaGold dated April 11, 2012).
"This next phase of drilling could be a key milestone for the Monster Lake project, as it will test the exploration potential of priority targets in the Monster Lake gold-bearing corridor outside of the 325-Megane zone," said David Grondin, President and Chief Executive Officer of TomaGold. "We have high hopes for this program, since the selection of new drilling targets was based on the compilation of a significant amount of data gathered from the most recent exploration work and earlier drilling programs."
The technical content of this press release has been reviewed and approved by Claude P. Larouche, Eng., a qualified person under National Instrument 43-101.
About TomaGold Corporation
TomaGold Corporation is a Canadian mineral exploration company engaged in the acquisition, assessment, exploration and development of gold mineral properties. It currently has joint venture agreements with IAMGOLD Corporation for the Monster Lake project, with Goldcorp Inc. for the Sidace Lake property, and with Goldcorp Inc. and New Gold Inc. for the Baird property. TomaGold has interests in seven gold properties near the Chibougamau mining camp in northern Quebec: Monster Lake, Winchester, Lac a l'Eau Jaune, Monster Lake East, Monster Lake West, Obalski and Lac Doda. It also holds interests of 39.5% in the Sidace Lake property and 24.5% in the Baird property near the Red Lake mining camp in Ontario, and has an option to acquire a 70% interest in the Hazeur property, at the southern edge of the Monster Lake group of properties.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. The statements in this press release that are not historical facts are "forward-looking statements". Readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results may vary materially from those described in such "forward-looking" statements.
SOURCE Corporation TomaGold
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