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TomaGold Corp V.LOT

Alternate Symbol(s):  TOGOF

TomaGold Corporation is a Canadian mineral exploration company engaged in the acquisition, assessment, exploration and development of gold, copper, rare earth elements and lithium projects. The Company is focused on consolidating the Chibougamau Mining Camp in northern Quebec. In addition to the agreements to acquire 13 properties in the camp, the Company holds interests in five gold properties in the vicinity of the camp: Obalski, Monster Lake East, Monster Lake West, Hazeur and Doda Lake. It also owns a 100% interest in a lithium property and in the Star Lake rare earth elements property, located in the James Bay region of Quebec, as well as a 24.5% interest in the Baird property, located near the Red Lake mining camp in Ontario through a joint venture with Evolution Mining Ltd. and New Gold Inc. The Obalski property consists of about 74 claims covering a total of 2,740 hectares (ha) and lies three kilometers (km) south of Chibougamau, Quebec.


TSXV:LOT - Post by User

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Post by backflipson Feb 20, 2013 9:30pm
177 Views
Post# 21020022

IF MORE DRILL RESULTS !

IF MORE DRILL RESULTS !

CONTINUE TO BE THE SAME OR BETTER PRICE SHOULD TREND ALOT HIGHER !


David Grondin, President and CEO of TomaGold, stated that: "This major discovery will take our assessment to a whole new level at Monster Lake, which has never been drilled to a depth of more than 125 metres. These holes show that the 325 Zone has promising gold potential at depth. The results for the first three holes would seem to indicate that the 325 Zone becomes wider and richer at depth. The presence of trace chalcopyrite and sphalerite and semi-massive pyrrhotite accompanied by intense black chlorite alteration suggests the proximity of a "VMS"-type setting, an indicator of potential for massive sulphide gold deposits."

The best drill results for the 325 Zone are as follows:
 


"In light of these results, we have decided to add another 1,000 metres of drilling to the program, for a total of 3,500 meters. The series of holes now being drilled are aimed at testing the lateral extensions of the mineralization on Sections 1300E and 1200E at the same vertical depths," Mr. Grondin added.
 

The technical content of this press release has been reviewed and approved by Maurice Giroux, a qualified person as defined by NI 43-101.

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