- 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.
www.tomagoldcorp.com
SOURCE Corporation TomaGold