TomaGold Corporation

TomaGold Corporation
Quinto Real Capital Corporation

Quinto Real Capital Corporation

March 08, 2013 06:00 ET

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

MONTREAL, QUEBEC--(Marketwire - March 8, 2013) - TomaGold Corporation (TSX VENTURE:LOT) ("TomaGold" or the "Company") and Quinto Real Capital Corporation (TSX VENTURE:QIT) ("Quinto") are pleased to announce 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 km southwest of Chibougamau, Quebec. 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 AGATLabs of Mississauga, Ontario, are as follows:

  • Hole M-13-98: 26.0 g/t Au over 5.7 m at a vertical depth of 280 m
  • Hole M-13-99: 32.6 g/t Au over 6.0 m at a vertical depth of 170 m
  • Hole M-13-101: 48.9 g/t Au over 3.5 m at a vertical depth of 275 m

The full results for the current drilling program on the 325 zone are as follows:

g/t Au Length
Section 1250 E
M-13-94 226.50 231.80 11.5 5.30 187
M-13-93 244.35 250.20 33.6 5.85 217
M-13-95 288.40 295.60 42.0 7.20 278
Section 1300 E
M-13-96 212.40 215.60 1.22 3.20 160
M-13-97 231.25 231.75 6.34 0.50 195
M-13-98 274.60 280.30 26.0 5.70 280
Section 1200 E
M-13-99 217.00 223.00 32.6 6.00 170
M-13-100 232.80 237.00 0.60 4.20 200
M-13-101 281.50 285.00 48.9 3.50 275

David Grondin, President and CEO 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 and 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."

The "Longitudinal map" is available at the following address:

Holes M-13-96 to M-13-98 were drilled on Section 1300 E of the 325 zone, while Holes M-13-99 to M-13-101 lie on Section 1200 E, on the same 290° azimuth. Holes M-13-96 to M-13-98 and M-13-99 to M-13-101 were drilled at dips of -50°, -60° and -70°, respectively, so as to intersect the mineralized zone at vertical depths of 150 to 280 metres.

It should be noted that the sheared tuff unit hosting the gold-bearing quartz vein was intersected at a 40-50° 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 to 85% of the width intersected in the drill holes.

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

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 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 3-10 metres wide in basaltic units.

About Quinto Real Capital Corporation

Quinto Real Capital Corporation is a Canadian-based mining exploration company focused on the exploration, evaluation and development of gold mining properties with a view to commercial 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.

Contact Information

  • TomaGold Corporation
    David Grondin
    President and Chief Executive Officer
    (514) 206-7727

    Quinto Real Capital Corporation
    Michael Curtis
    President and Chief Executive Officer
    (514) 303-7895