TomaGold Corp

Published : February 05th, 2015

TomaGold Corporation: IAMGOLD Intersects High Grade Gold at Monster Lake Project in Quebec

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Canada | Diamond | Eau | France | Gold |

TomaGold Corporation: IAMGOLD Intersects High Grade Gold at Monster Lake Project in Quebec

MONTREAL, QUEBEC--(Marketwired - Feb 5, 2015) - TomaGold Corporation (TSX VENTURE:LOT) - IAMGOLD Corporation ("IAMGOLD" or the "Company") today provided an update from its ongoing exploration program at its optioned Monster Lake project located 50 kilometres southwest of Chibougamau, Quebec, Canada. The company is reporting assay results from a further 17 Diamond drill holes totaling 8,233 metres completed at the end of the 2014 exploration program.

The assay results are provided in Table 1 below and include the following highlights:

(A drill hole plan map and longitudinal section is attached to this news release.)

325 - Megane Zone:

  • Drillhole ML14-130: 9.18 metres grading 46.33 g/t gold,
    • Includes: 2.2 metres grading 182.8 g/t gold
  • Drillhole ML14-131: 3.42 metres grading 18.68 g/t gold
  • Drillhole ML14-132: 7.1 metres grading 6.74 g/t gold

Craig MacDougall, Senior Vice President, Exploration for IAMGOLD, stated, "Our first exploration program completed in 2014 on this project has delivered encouraging results by successfully extending the high grade 325 - Megane zone at depth below previous drilling where it remains open. In addition our exploration program has identified several new gold-bearing structures and a number of target areas for further exploration."

During 2014, the Company conducted a multi-phase Diamond drilling program totaling 12,761 metres. This news release reports the assay results of the final 17 of the 26 drill holes in the program. The 2014 drilling program was designed to test the direct down-dip and lateral extensions of the 325-Megane mineralized zone, as well as areas along strike within the interpreted structural corridor referred to as the Monster Lake Shear Zone ("MLSZ").

Concurrent with the 2014 drilling program, exploration activities also included data compilation and processing, a ground geophysical survey, geological mapping and selected outcrop stripping and sampling. Highlights of this work include the discovery of several new surface gold showings thought to represent a possible extension of the MLSZ located along the west limb of a prominent fold. Results from surface channel sampling of outcrops exposed in shallow trenches cut perpendicular to the observed trend, include: 1.25 metres grading 16.3 g/t Au, 0.30 metres grading 4.53 g/t Au and 0.60 metres grading 2.09 g/t Au in Trench 7; and 1.0 metres grading 2.83 g/t Au and 1.0 metre grading 2.09 g/t Au in Trench 9. These new showings have not been previously drill tested and represent priority targets for follow up.

Next Steps

In 2015, an initial 5,000 metre, winter Diamond drilling program is planned which is designed to test selected target areas along the main MLSZ structure to take advantage of the winter access conditions. Further drilling is also planned on the 325-Megane zone to test the continuation of lateral and down-plunge extensions. Drilling is expected to commence in the coming weeks.

About the Monster Lake Project

The Monster Lake project is underlain by Archean volcanic rocks of the Obatogamau Formation and is traversed by an important deformation corridor and associated gold-bearing mineralized structures. Historical drilling and recent success by TomaGold have identified at least a four kilometre long structural corridor along which most of the known gold occurrences discovered to date on the property are associated, including the 325-Megane Zone.

Pursuant to an earn-in agreement finalized with TomaGold Corporation, IAMGOLD may earn a 50% interest in each of the Monster Lake, Winchester and Lac à l'Eau Jaune properties, collectively referred to as the Monster Lake Project, by completing scheduled cash payments and exploration expenditures totaling US$17.6 million over five and half years.

Technical Information and Quality Control Notes

The drilling results contained in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").

The "Qualified Person" responsible for the supervision of the preparation and review of this information is Marie-France Bugnon, P. Geo., General Manager Exploration. Marie-France is considered a "Qualified Person" for the purposes of National Instrument 43-101 with respect to the technical information being reported on. The technical information has been included herein with the consent and prior review of the above noted Qualified Person. The Qualified person has verified the data disclosed, and data underlying the information or opinions contained herein.

The sampling of, and assay data from, drill core is monitored through the implementation of a quality assurance - quality control (QA-QC) program designed to follow industry best practice. Drill core (NQ size) samples are selected by the IAMGOLD geologists and sawn in half with a Diamond saw at the project site. Half of the core is retained at the site for reference purposes. Sample intervals may vary from half a metre to one and a half metres in length depending on the geological observations.

Samples are transported in sealed bags to the AGAT Laboratory prep lab facility in Val-d'Or, Québec. Samples are coarse crushed to a -10 mesh and then a 1000 gram split is pulverized to 95% passing -150 mesh. Analytical pulps are forwarded for analysis at the AGAT Laboratories (ISO / IEC 17025 Certified by the Standards Council of Canada) in Mississauga, Ontario. Samples are analyzed using a standard fire assay with a 50 gram charge with an Atomic Absorption (AA) finish. For samples that return assay values over 5.0 grams per tonne (g/t), another pulp is taken and fire assayed with a gravimetric finish. Core samples showing visible gold or samples which have returned values greater than 10.0 g/t are re-analyzed by pulp metallic analysis. IAMGOLD inserts blanks and certified reference standard in the sample sequence for quality control.

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. The statements made in this news release that are not historical facts are "forward-looking statements". Readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results may vary materially from those described in these "forward-looking" statements.

A table and maps are available at the following address: http://media3.marketwire.com/docs/990819e.pdf

Read the rest of the article at finance.yahoo.com
Data and Statistics for these countries : Canada | France | All
Gold and Silver Prices for these countries : Canada | France | All

TomaGold Corp

CODE : LOT.V
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

TomaGold is a exploration company based in Canada.

TomaGold is listed in Canada. Its market capitalisation is CA$ 3.9 millions as of today (US$ 2.8 millions, € 2.7 millions).

Its stock quote reached its highest recent level on October 09, 2009 at CA$ 5.00, and its lowest recent point on July 27, 2023 at CA$ 0.02.

TomaGold has 111 260 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
In the News and Medias of TomaGold Corp
1/12/2019TomaGold consolidates Monster Lake, acquires Irene Lake prop...
Project news of TomaGold Corp
7/6/20162016-07-05 TomaGold announces the start of a 2,000-metre dri...
10/26/20152015-10-26 TomaGold consolidates its position around Monster...
9/17/20152015-09-17 TomaGold announces the start of a 4,000-metre dri...
2/25/20152015-02-25 TomaGold announces the start of a 5,000-metre dri...
5/27/2014IAMGOLD provides update on the drilling program on the Monst...
Corporate news of TomaGold Corp
6/23/20162016-06-23 TomaGold Acquires A 39.5% Interest in the Red Lak...
6/15/20162016-06-15 TomaGold Corporation: IAMGOLD Intersects a Second...
6/1/20162016-05-31 Tomagold acquires the Obalski property and consol...
11/2/2015IIROC Trading Resumption - LOT
11/2/20152015-11-02 IAMGOLD acquires 50% of Monster Lake
11/2/2015TomaGold Corporation: IAMGOLD acquires 50% of Monster Lake
10/30/2015IIROC Trading Halt - LOT
10/26/2015TomaGold Consolidates Its Position Around Monster Lake With ...
9/17/2015TomaGold Announces the Start of a 4,000-Metre Drilling Progr...
2/25/2015TomaGold Announces the Start of a 5,000-Metre Drilling Progr...
2/5/20152015-02-05 TomaGold Corporation: IAMGOLD Intersects High Gra...
2/5/2015TomaGold Corporation: IAMGOLD Intersects High Grade Gold at ...
12/24/2014TomaGold Closes a $287,000 Private Placement
11/3/20142014-10-31 TomaGold and IAMGOLD change their agreement on th...
10/31/2014TomaGold and IAMGOLD Change Their Agreement on the Monster L...
9/30/2014IIROC Trading Resumption - LOT
9/30/2014TomaGold to Put Gold Reef Mine Into Production
9/26/2014IIROC Trading Halt - LOT
8/20/2014TomaGold Corporation: IAMGOLD Provides an Exploration Update...
5/27/2014TomaGold Corporation: IAMGOLD Provides Update on the Drillin...
5/9/2014TomaGold Closes on a Second Tranche of $305,000 at $0.16 per...
5/5/2014TomaGold Raises $200,000 Through the Exercise of Warrants an...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (LOT.V)
0.035+0.00%
TSX-V
CA$ 0.035
04/26 15:13 -
0%
Prev close Open
0.035 0.030
Low High
0.030 0.035
Year l/h YTD var.
0.010 -  0.035 75.00%
52 week l/h 52 week var.
0.010 -  0.035 16.67%
Volume 1 month var.
148,000 75.00%
24hGold TrendPower© : 12
Produces
Develops
Explores for
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
202440.00%
2023-28.57%0.050.02
2022-30.00%0.080.04
2021-41.18%0.100.05
202070.00%0.100.06
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.70-0.65%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 12.26+2.68%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.53-1.87%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.64-1.86%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 16.23+4.04%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.24+4.26%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.20+2.63%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.88+0.53%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 52.71+0.19%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+5.56%Trend Power :