TomaGold has over C$10M in cash and an exciting portfolio of properties in mining-friendly jurisdictions
- TomaGold expands its drill program at Quebec project by 1,500m
Quick facts: TomaGold Corp
Price: 0.055 CAD
Market Cap: $8.65 m
About the company
TomaGold Corporation is a Canadian mineral exploration corporation engaged in the acquisition, assessment, exploration and development of gold mineral properties.
The company has interests in five gold properties near the Chibougamau mining camp in northern Quebec: Obalski, Monster Lake East, Monster Lake West, Hazeur and Lac Doda. It also participates in a joint venture with Evolution Mining Ltd. and New Gold Inc., through which it holds a 24.5% interest in the Baird property, near the Red Lake mining camp in Ontario.
How it is doing
TomaGold Corporation told investors it has expanded its previously announced drill program at the Obalski project in Quebec to 11,500 metres (m) from 10,000m following a reassessment of the targets.
The program kicked off on July 10 this year and as at September 6, eight holes and two hole extensions had been sunk, for a total of 4,693m, with 751 samples collected and sent to a lab in Val-d'Or for analysis.
Discovered in 1928, the Obalski deposit produced 100,273 tons at grades of 1.14% copper, 2.08 grams per ton (g/t) gold and 6.04 g/t silver from the A zone between 1964 to 1972, and around 9,000 tons at a reported grade of 8.5 g/t gold from the D zone in 1984.
The current program consists of ongoing exploration of the A-Po Zone on sections spaced every 50 metres between sections 120+00 E and 450+00 E, at vertical depths ranging from 300 to 500 metres.
TomaGold Corporation (CVE:LOT) (OTCMKTS:TOGOF) (FRA:OTM) has announced the start of its 10,000 metres (m) drilling program on its wholly-owned Obalski property, located 3 kilometres south of Chibougamauin in Quebec.
The program is aimed at defining the A-Po zone by drilling every 50m between sections 120 E and 450 E, to a vertical depth of at least 500m, with some holes reaching a vertical depth of 650m, the mineral exploration company added.
TomaGold Corporation (CVE:LOT) has said it will conduct a four-hole pulse-EM geophysical survey ahead of a 10,000-metre drilling program on the Obalski property, located near Chibougamau, Quebec.
The survey, which will be carried out by Géophysique TMC of Val-d’Or, involves inserting a probe into the existing drill holes and identifying the sulfides present.
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...
In exchange for publishing services rendered by the Company on behalf of named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...FOR OUR FULL DISCLAIMER CLICK HERE