RE: RE: 3 more holes drilling to come
TomaGold drills six m of 32.6 g/t Au at Monster Lake
2013-03-08 08:29 ET - News Release
Also News Release (C-QIT) Quinto Real Capital Corp
Mr. David Grondin of TomaGold reports
TOMAGOLD NOW CONFIRMS HIGH GOLD GRADES ON THREE DRILL SECTIONS 50 METRES APART, INCLUDING 32.6 G/T GOLD OVER 6.0 M, 26.0 G/T GOLD OVER 5.7 M AND 48.9 G/T GOLD OVER 3.5 M
TomaGold Corp. and Quinto Real Capital Corp. are releasing the results of holes M-13-96 to M-13-101, part of the 3,500-metre drilling program on the Monster Lake property, located 44 kilometres southwest of Chibougamau, Que. The goal of the program is to explore the 325 gold zone at depth, which was never done by previous operators.
The best drill results reported by AGAT labs of Mississauga, Ont., are as follows:
- Hole M-13-98: 26.0 grams per tonne gold over 5.7 metres at a vertical depth of 280 metres;
- Hole M-13-99: 32.6 grams per tonne gold over 6.0 metres at a vertical depth of 170 metres;
- Hole M-13-101: 48.9 grams per tonne gold over 3.5 metres at a vertical depth of 275 metres.
The full results for the current drilling program on the 325 zone are tabulated.
Hole From To Au Length DepthNo. (m) (m) (g/t) (m) (m)M-13-94 226.50 231.80 11.5 5.30 187M-13-93 244.35 250.20 33.6 5.85 217M-13-95 288.40 295.60 42.0 7.20 278M-13-96 212.40 215.60 1.22 3.20 160M-13-97 231.25 231.75 6.34 0.50 195M-13-98 274.60 280.30 26.0 5.70 280M-13-99 217.00 223.00 32.6 6.00 170M-13-100 232.80 237.00 0.60 4.20 200M-13-101 281.50 285.00 48.9 3.50 275
David Grondin, president and chief executive officer of TomaGold, stated that: "The news for TomaGold continues to be excellent. These new holes have now confirmed that the high-grade gold zone is open along strike on three drill sections 50 metres apart, as well as at depth. We will continue to test the zone along strike and at depth to assess the full potential of this new discovery. It is important to note that we are not constrained by weather conditions and so will be able to drill on the 325 zone year-round. Furthermore, we have once again noted the presence of trace chalcopyrite, sphalerite and semi-massive pyrrhotite, accompanied by intense black chlorite alteration, which suggests the proximity of a VMS-type environment, a potential indicator of gold-bearing massive sulphide deposits."
Holes M-13-96 to M-13-98 were drilled on Section 1300 east of the 325 zone, while holes M-13-99 to M-13-101 lie on Section 1200 east, on the same 290-degree azimuth. Holes M-13-96 to M-13-98 and M-13-99 to M-13-101 were drilled at dips of minus-50 degrees, minus-60 degrees and minus-70 degrees, respectively, so as to intersect the mineralized zone at vertical depths of 150 metres to 280 metres.
It should be noted that the sheared tuff unit hosting the gold-bearing quartz vein was intersected at a 40-degree to 50-degree angle to the core axis, meaning that the width of the intersection is not necessarily the true width. Based on observations on surface in recent trenching and old holes drilled by SOQUEM and Stellar Pacific Ventures, the company estimates the true width of the mineralized zone at 70 per cent to 85 per cent of the width intersected in the drill holes.
The technical content of this news release has been reviewed and approved by Maurice Giroux, a qualified person as defined by National Instrument 43-101.
Sample preparation and analysis
The NQ-diameter core is sawed in half, with one-half kept as a witness sample and the other half shipped to the James Bay Joint Action Mining Committee in Chibougamau to be ground and pulverized. After primary grinding, the sample is quarter split, and one-half is kept as a witness (reject) while the other half is sent for pulverization.
The nominal weight of the pulverized pulp is 1,000 grams unless the raw sample was less than two kilograms, in which case all of the pulp is sent to AGAT Laboratories in Mississauga, Ont.
AGAT labs (Mississauga, Ont.) takes a 50-gram sample for processing by fire assay with atomic absorption finish. When values are higher than 10 g/t Au, gravity analysis is also done.
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 have been done since 1984 along the four-kilometre mineralized corridor. During the winter of 2012, TomaGold drilled 16 additional 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 three metres to 10 metres wide in basaltic units.