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TomaGold undertakes further exploration on Obalski

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  • The Company is enterprise a Pulse-EM geophysical survey in 4 drill holes.
  • TomaGold will begin a ten,000-metre drilling program on its Obalski property as quickly because it has entry to a drill rig.

MONTREAL, June 08, 2021 (GLOBE NEWSWIRE) — TOMAGOLD CORPORATION (TSXV: LOT) (“TomaGold” or the “Company”) is happy to announce that it’s going to conduct a four-hole Pulse-EM geophysical survey in preparation for a ten,000-metre drilling program on its wholly-owned Obalski property, positioned 3 km south of Chibougamau. The survey might be carried out by Géophysique TMC of Val-d’Or.

The Pulse-EM surveying includes inserting a probe into the prevailing drill holes and figuring out the sulfides current. Mixed with the historic drill outcomes compiled in 2020, this may permit the Company to higher outline the parameters of the subsequent drilling program. The goal zone lies at a vertical depth of 400 m to 600 m. The objective of the survey is to collect further data on the sulfide zone, together with its strike, dip and vertical depth.

“The objective of the upcoming drilling program is to hold out the work as effectively and cost-effectively as attainable, and we’re due to this fact conducting a Pulse-EM survey to optimize drill gap choice,” said David Grondin, President and CEO of TomaGold. “The survey and information compilation ought to take two or three weeks after which we are going to begin drilling as quickly because the drill rig turns into accessible. The excessive demand for drill rigs within the space has induced a delay past our management, however we anticipate drilling to start out within the subsequent few weeks.”

It ought to be recalled that the Company obtained glorious outcomes from the two,502-metre drilling program performed within the winter of 2020-2021, with a number of high-grade gold and copper values, together with 47.4 g/t Au, 87.6 g/t Ag and seven.06% Cu over 1.1 metres and 67.1 g/t Au, 40.1 g/t Ag and a couple of.32% Cu over 0.5 metres in gap OBS-20-002; 12.45 g/t Au, 17.7 g/t Ag and 0.53% Cu over 0.65 metres in gap OBS-20-001; and 23.7 g/t Au and 24.5 g/t Ag over 0.5 metres in gap OBS-21-005 (see press releases dated March 10, 2021, and March 25, 2021).

The technical content material of this press launch has been reviewed and authorized by André Jean, P.Eng., the Company’s Director of Exploration and a certified individual below Nationwide Instrument 43-101.

Concerning the Obalski property
The Obalski property, which covers 345 hectares, together with a 33-hectare mineral concession, lies about 2 km south of Chibougamau, Quebec. Found in 1928, the Obalski deposit produced 100,273 tonnes at grades of 1.14% Cu, 2.08 g/t Au and 6.04 g/t Ag from the A zone between 1964 to 1972, and round 9,000 tonnes at a reported grade of 8.5 g/t Au from the D zone in 1984 (Supply: SIGEOM and Camchib Exploration inner experiences).

About TomaGold
TomaGold Company (TSXV: LOT) is a Canadian mineral exploration company engaged within the acquisition, evaluation, exploration and improvement of gold mineral properties. TomaGold has pursuits in 5 gold properties close to the Chibougamau mining camp in northern Quebec: Obalski, Monster Lake East, Monster Lake West, Hazeur and Lac Doda. It additionally participates in a three way partnership with Evolution Mining Ltd. and New Gold Inc., via which it holds a 24.5% curiosity within the Baird property, close to the Purple Lake mining camp in Ontario.

David Grondin
President and Chief Govt Officer
(514) 583-3490

Neither the TSX Enterprise Trade nor its regulation providers supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Trade) accepts accountability for the adequacy or accuracy of this information launch. Among the statements contained on this press launch are forward-looking statements inside the that means of relevant securities legal guidelines. Ahead-looking statements might be recognized by way of phrases corresponding to “expects”, “intends”, “is predicted”, “potential”, “suggests” or variations of such phrases and phrases or statements that sure actions, occasions or outcomes “could”, “might”, “would”, “ought to”, “may” or “will” be taken, happen or be achieved. Ahead-looking statements will not be historic information and are topic to quite a lot of dangers and uncertainties past the Company’s management. Readers are cautioned that such statements will not be ensures of future efficiency and that precise outcomes and developments are more likely to differ, and should differ materially, from these expressed or implied by the forward-looking statements contained on this press launch. Accordingly, readers shouldn’t place undue reliance on forward-looking statements. The Company undertakes no obligation to publicly replace or revise any forward-looking statements, besides as required by regulation.

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