NR - TomaGold and Quinto Launch a 2,500-Metre Dril
TomaGold and Quinto Launch a 2,500-Metre Drilling Program at Monster Lake
MONTREAL, QUEBEC--(Marketwire - Feb. 7, 2013) - TomaGold Corporation (TSX VENTURE:LOT) ("TomaGold" or the "Company") is pleased to report the start of a 2,500-metre drilling program on the Monster Lake gold property, located 44 km southwest of Chibougamau, Quebec. The program will be carried out jointly with Quinto Real Capital Corporation (TSX VENTURE:QIT) ("Quinto"), TomaGold's partner in the Monster Lake project. Quinto has an option to acquire up to a 70% interest in the Monster Lake property (refer to press release dated November 26, 2012).
The main goal of the program is to test the extension of the 325 Zone at a depth of 125 to 300 metres. A 45-kg metallurgical sample taken previously from the 325 Zone returned an average head grade of 4.8 g/t from metallurgical testing.
David Grondin, President and CEO of TomaGold, stated that: "The metallurgical test results and previous drilling on the 325 Zone, one of five main zones identified along the four-kilometre gold-bearing corridor on the Monster Lake property, were very positive and show interesting gold potential. We therefore feel we should continue testing this zone at depth, and then do metallurgical testing on a composite drill core sample to determine the average gold grade at depth."
A summary of the best results obtained to date from drilling on the 325 Zone is as follows:
Hole
(#) | From
(m) | To
(m) | Length
(m) | g/t Au | Zone |
| M-16-10 | 46.0 | 50.6 | 4.6 | 5.3 | 325 |
| M-18-10 | 78.0 | 83.0 | 5.0 | 5.4 | 325 |
| M-25-11 | 49.5
incl. 49.5 | 54.0
51.5 | 4.5
2.0 | 101.2
223.2 | 325 |
| M-36-11 | 95.0 | 97.0 | 2.0 | 8.4 | 325 |
| M-37-11 | 103.0 | 105.0 | 2.0 | 19.4 | 325 |
| M-38-11 | 96.0 | 99.0 | 3.0 | 7.2 | 325 |
| M-43-11 | 131.0 | 132.0 | 1.0 | 11.1 | 325 |
| M-44-11 | 125.0 | 129.0 | 4.0 | 4.9 | 325 |
The technical content of this press release has been reviewed and approved by Maurice Giroux, a qualified person as defined by NI 43-101.
ABOUT THE MONSTER LAKE PROJECT
The Monster Lake property is located in northwestern Quebec, 44 kilometres southwest of the town of Chibougamau. It is easily accessible by road and near a major power line. Over 30,000 metres of diamond drilling has been done since 1984 along the four-kilometre mineralized corridor. During the winter of 2012, TomaGold drilled 16 holes for a total of 2,420 metres, and made a major discovery of 237.6 grams per tonne gold over 5.7 metres in Hole M-12-60. The mineralization is associated with dark quartz-sulphide veins within a shear zone 3-10 metres wide in basaltic units.
ABOUT QUINTO REAL CAPITAL CORPORATION
Quinto Real Capital Corporation is a Canadian-based mining exploration company focused in the exploration, evaluation and development of gold mining properties with a goal of bringing them into production. Quinto has an option to acquire up to a 70% interest in the Monster Lake gold property, located in the Chibougamau mining camp, in the province of Quebec.
ABOUT TOMAGOLD CORPORATION
TomaGold Corporation is a Canadian-based mining exploration company whose primary mission is the acquisition, exploration and development of gold projects in Canada and abroad.
Neither the 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.