TomaGold Corporation (TSXV: LOT) (OTCQB: TOGOF) has received positive results for the last three holes of phase I of its 11,500m drilling program on its wholly-owned Obalski property in Chibougamau, Quebec.
Phase I, which started on July 10, 2021, consisted of 15 holes totalling 7,253m.
“While the Obalski property has historically returned high-grade results from near surface, with this programme we focused on identifying mineralisation at depth,” said David Grondin, President and CEO of TomaGold.
“I am pleased to report that our first phase of drilling at depth has been a real success, with the discovery of large, low-grade intersections combined with shorter, high-grade intersections.
“Based on the results, we have significantly upgraded our assessment of Obalski’s mineral potential. In phase II of the programme, which starts today, we will continue drilling at depth, on sections 300+00 E, 350+00 E, 400+00 E and finally 450+00 E.
‘To optimise phase II of the programme, we will combine the phase I results with the results of gyroscopic surveys currently being conducted in historical holes.”
Holes OBS-21-013 and OBS-21-014 returned low values and small thicknesses but confirmed the continuity of the A-Po zone. Hole OBS-21-013 returned 0.76 g/t Au and 2.10 g/t Ag over 1.40 m at a vertical depth of 450 m, while hole OBS-21-014, drilled 50m to the east, returned 0.62 g/t Au and 0.12 g/t Ag over 8.9m at a vertical depth of 210 m.
Hole OBS-21-015, drilled on the same section as OBS-21-014 to a vertical depth of 330 m, intersected 23.78 g/t Au, 16.55 g/t Ag and 1.0% Cu over 3.20 m, including 167.50 g/t Au, 112.00 g/t Ag and 6.08% Cu over 0.45m.
Based on this result, the corporation plans to drill an additional hole below OBS-21-015 to a vertical depth of approximately 400m.
In June 2021, a Pulse-EM geophysical survey conducted in four holes revealed that all historical holes over 300 m long had a significant eastward deviation.
Mr Grondin said the Corporation is currently conducting gyroscopic surveys to confirm the location of the gold-bearing structures at depth. Some 40 historical drill holes have been surveyed since the beginning of October, and all the holes are expected to be completed in the coming weeks.
For further information please visit: https://www.tomagoldcorp.com/en/
