TomaGold Corporation
TSX VENTURE : LOT

TomaGold Corporation

September 04, 2012 08:13 ET

TomaGold Drill Results Confirm Continuous Gold-bearing Structure at Monster Lake

MONTREAL, QUEBEC--(Marketwire - Sept. 4, 2012) - TomaGold Corporation (TSX VENTURE:LOT) ("TomaGold" or the "Company") is pleased to report partial results for the current drilling program at its wholly-owned Monster Lake gold project near Chibougamau, Quebec.

The program mainly targets the Annie gold-bearing structure, where the Company made a major discovery of 237.6 g/t gold over 5.7 metres in Hole M-12-60, and is aiming to test the structure along strike and at depth. So far, five holes have returned significant gold content, as shown in the following table.

Annie Zone (current program)
Hole From (m) To (m) Length (m) g/t Au
M-12-71 60.65 62.15 1.5 4.6
M-12-72
including
116.2
116.2
119.2
117.7
3.0
1.5
5.4
8.1
M-12-74 92.8 98.8 6.0 5.5
M-12-76 232.3 233.8 1.5 1.6
M-12-80 88.5 106.5 18.0 1.4

These gold intersections add to the results listed in the table below, which are from previous drilling along a continuous mineralized structure that can be traced over a 2.5-km strike length between the Annie zone and the Megane-325 zone to the southwest.

A map is available at the following address: http://file.marketwire.com/release/Annie_zone.jpg

Annie Zone (previous program)
Hole Length (m) g/t Au
94-34 0.4 5.6
94-22 0.8 6.8
94-27 0.5 3.8
94-26A 1.0 4.5
94-28 0.5
0.6
10.0
5.2
94-21 1.0 5.4
M-12-60 5.7 237.6
94-14 3.3 5.6
94-23 0.7
2.9
4.5
11.6
16.6
17.7
94-17 1.3 3.3
Megane-325 Zone
Hole Length (m) g/t Au
M-25-11 4.5 101.2
95-50 4.5 6.6
M-24-11 1.0 9.6
M-10-18 1.0 6.8
M-43-11 1.0 11.1
M-44-11 2.0 8.4
M-37-11 2.0 19.4
M-38-11 1.0 19.4
M-10-16 0.8 18.4
M-45-11 1.0 4.8

David Grondin, President and Chief Executive Officer of TomaGold, said that: "We are pleased with the results obtained so far. Taken globally, the results clearly demonstrate significant gold mineralization along the Monster Lake structure, which can be traced for a distance of more than 5 km on the property. However, the coarse nature of the gold contained in this structure makes it difficult to establish a realistic average grade for the entire structure. We are presently looking at different alternatives with our exploration team that would enable us to obtain a realistic average volume and grade for the Monster Lake structure."

The Company expects to receive additional results from its ongoing drilling program in the coming weeks.

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 Table jamésienne de concertation minière 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 g unless the raw sample was less than 2 kg, in which case all of the pulp is sent to AGAT Laboratories in Mississauga, Ontario.

AGATLabs (Mississauga, ON) takes a 50-g sample for processing by fire assay with atomic absorption finish. When values are higher than 10 g/t Au, gravity analysis is also done.

Metallic sieve analysis is done in two stages. The 1 kg pulp is first screened using a +150 mesh screen. The entire coarse fraction is analysed by gravity fire assay, while a 50 g sample is taken from the fine fraction and also assayed by gravity fire assay. The final result is the weighted average for the two fractions.

It is standard practice to use metallic sieve analysis when visible gold can be seen in the core, as is the case of the 5.7-metre section of 214.3 g/t Au from Hole 60. Analysis of the same intersection by gravity fire assay returned a slightly higher value of 237.6 g/t Au over 5.7 m.

ABOUT THE MONSTER LAKE PROJECT

The Monster Lake property is located 44 kilometres southwest of the town of Chibougamau in northwestern Quebec. It is easily accessible by road and has a major power line nearby. From 1984 to 1995, SOQUEM completed nearly 20,000 metres of diamond drilling in 142 holes and excavated several trenches along the 4 kilometre-long mineralized corridor. Before Stellar Pacific Ventures Inc. ("Stellar") began drilling, there were more than 45 intersections of greater than 1 g/t Au from drill core or channel samples. The three principal showings, Eratix, Mégane 325 and Zone 52, have been drilled at 50 metre intervals and to a depth of 125 metres, but for the most part with only one hole per section, leaving several mineralized intersections wide open, along strike and at depth.

TomaGold recently acquired the Monster Lake property from Stellar, along with two other gold projects (Urban and Vassan). Over the past two years, Stellar drilled 46 diamond drill holes (5,235 metres) on gold-bearing structures defined along the 4 kilometre-long NNE striking mineralized corridor. During the winter of 2012, TomaGold drilled 16 additional holes for a total of 2,420 metres. The mineralization is associated with dark quartz-sulphide veins within a shear zone ranging from 3 to 10 metres in width in basaltic units.

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.

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

For a complete list of drill results from the Monster Lake project, please visit our website at www.tomagoldcorp.com

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.

Contact Information

  • David Grondin
    President and CEO
    (514) 206 7727