Investor Insight
TomaGold is advancing a portfolio centered on Québec’s Chibougamau Mining Camp, combining owned assets with near-term, catalyst-driven exploration at its optioned Berrigan Mine project.
Overview
TomaGold (TSXV:LOT,OTC:TOGOF) is a Canadian exploration company focused on precious and base metal opportunities, with a primary emphasis on gold and copper in Québec and Ontario. The company’s core assets are located in Québec’s Chibougamau Mining Camp, where it owns the Obalski and Chicot projects and holds options to earn up to 100 percent interests in multiple additional properties, including the Berrigan Mine, David, Radar and Dufault projects. TomaGold also holds a 24.5 percent joint venture interest in the Baird gold project near Ontario’s Red Lake camp, and maintains early-stage lithium and rare earth element (REE) exposure in Québec’s James Bay region.
As of August 2026, the Phase 2 extension drilling program at Berrigan Mine has already returned a major 204.25-metre mineralized intersection grading 2.05 percent zinc equivalent and 0.48 grams per tonne gold equivalent, including 31.31 percent zinc equivalent over 2.40 metres. The company said this confirms the vertical continuity of the Berrigan Deep zone.
Company Highlights
- Portfolio anchored in Québec’s Chibougamau Mining Camp, combining owned assets (including Obalski and Chicot) with multiple optioned projects that provide pipeline depth.
- Near-term exploration catalysts focused on Berrigan, supported by recent deep drilling and BHEM interpretation used to prioritize conductors for follow-up.
- Berrigan Mine: 2026 Phase 2 drilling highlighted a major 204.25-metre mineralized intersection grading 2.05 percent zinc equivalent and 31.31 percent zinc equivalent over 2.40 metres, confirming the vertical continuity of the Berrigan Deep zone.
- Obalski is a 100 percent owned project with extensive historical work and multiple zones, providing a second core asset within the company’s Chibougamau footprint.
- Management describes a disciplined, data-driven reinterpretation of existing datasets, targeted drilling and geophysics to generate technical newsflow and refine targets over time, to advance projects toward updated NI 43-101-compliant technical disclosure.
Key Projects
Berrigan Mine Project (Option to Acquire 100 percent)
The Berrigan Mine project comprises 16 claims totaling 483 hectares and is located approximately 4 km NNW of Chibougamau in the Chibougamau Mining Camp. TomaGold holds an option to acquire a 100 percent interest in the property from Chibougamau Independent Mines. The project has a significant historical database and has been the focus of the company’s recent exploration drilling and geophysics. Any historical resource estimates referenced for the project are historical in nature, are not current NI 43-101 compliant, and should not be relied upon.
An extension drilling program has been completed at Berrigan, with Phase 2 results including a major 204.25-metre mineralized intersection grading 2.05 percent zinc equivalent and 0.48 grams per tonne gold equivalent, including 31.31 percent zinc equivalent over 2.40 metres.
TomaGold has stated it reverted to reporting elemental assays rather than metal-equivalent grades due to uncertainty around metallurgical recovery assumptions at the current stage of evaluation.
The company’s regional rock and till/soil sampling campaign involves 1,474 samples, 936 of these being rock grab samples. 405 are at Berrigan Mine, 351 are at Gwillim and 180 are at William. Results for these samples are awaited and will be disclosed once received.
Obalski Project (100 percent owned)
The Obalski project is 100 percent owned and consists of 75 claims totaling 2,724 hectares located roughly 2 km south of Chibougamau. The project hosts multiple mineralized zones and has seen extensive historical exploration and drilling. TomaGold highlights Obalski as a core owned asset within its Chibougamau platform, supported by a large database and multiple target zones that remain open along strike and at depth.
Historical mining at the site included results of 110,300 tonnes at 2.08 g/t gold, 6.04 g/t silver and 1.14 percent copper. The company said it will carry out targeted geophysical surveys along its 020-degree structures. As of February 2025, it has implemented and is adhering to a strict Quality Assurance/Quality Control program for current drilling activities.
David Project (Option to Earn 100 percent)
The David project consists of 49 claims totaling approximately 20.09 sq km and is located within the Chibougamau camp. The project hosts multiple mineral occurrences and is positioned by the company as part of its broader Chibougamau consolidation strategy. David.
Highlighted gold and zinc occurrences at the property:
- Pierrot-East Lake, hole 1165-09-19: 2.0 g/t gold over 21 metres
- David Zn-Au: 6.2 percent Zn over 1 m (channel) and 4,0 g/t gold over 1 metre (channel)
- David Au: 4.73 g/t gold over 1 metre (channel)
Radar Project (Option to Earn 100 percent)
The Radar project consists of 14 claims totaling approximately 7.75 sq km and is located north of Chibougamau. The company highlights multiple showings and historical work that support ongoing target development within the district. The property is currently in the exploration drilling stage.
Dufault Project (Option to Earn 100 percent)
The Dufault project consists of 14 claims totaling approximately 5.22 sq km and is located north of Chibougamau. The company highlights the project as prospective within the camp and references historical drilling that supports continued evaluation.
TomaGold said that gold-bearing intervals in holes 1311-02-03 with 0.12 g/t gold over 124 metres and 1311-09-08 with 0.24 g/t gold over 193.4 metres suggest the presence of a large mineralized zone at the property, and exploration drilling is underway.
Other Assets and Optional Exposure
TomaGold’s portfolio also includes the Chicot project (owned) and additional Chibougamau-area properties (optioned) that provide pipeline optionality. Outside of Chibougamau, the company holds a 24.5 percent joint venture interest in the Baird gold project near Ontario’s Red Lake camp, and early-stage lithium and REE exposure in Québec’s James Bay region through the Star Lake (REE) and Brisk Extension (lithium/REE) projects.
Management Team
David Grondin — President and CEO
David Grondin is a seasoned mining financial entrepreneur and developer with over 25 years of experience in acquiring, financing, and advancing mining assets across the Americas and Europe.
Martin Nicoletti — CFO
Martin Nicoletti is the founder of SKTM Financial and a certified accountant with more than 32 years of corporate experience.
Jean Lafleur — VP Exploration
Jean Lent is a highly skilled professional geologist with 45 years of global experience in mineral exploration, resource evaluation, and project assessment and development.
Michel E. Labrousse — Senior Advisor
For the past twenty years, Michel Labrousse has developed various businesses in investment banking and financial markets in Europe and Asia.
Caitlin Jeffs — Member of the Board
Caitlin Jeffs is the founding partner and partial owner of Fladgate Exploration Consulting. For over two decades, she held roles in several junior and major gold and base metals companies such as Placer Dome CLA and Goldcorp Inc.
Jean-Sébastien Jacquetin — Member of the Board
With over 20 years of corporate finance and merchant banking experience for small and medium-sized enterprises, Jean-Sébastien Jacquetin is currently Managing Partner at Cavendish Investment Corp. He has worked for companies such as UNESCO (Paris), Natixis Banque, Meredith Financial Group and Du Pasquier.
The board includes David Grondin and Michel E. Labrousse.