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Chibougamau Independent Mines Inc. (CBG-TSX-V in Canada, CLL1-Frankfurt, Stuttgart, Berlin and Lang & Schwarz Stock Exchanges in Germany, CMAUF-OTC in the US), herein called Chibougamau, is pleased to report to shareholders that TomaGold Corporation (LOT-TSXV, TOGOF-OTCPK) have reported the results from the final three, Phase 2 drill-hole extensions at the Berrigan Mine Project in the western portion of the Chibougamau Mining Camp. These 3 drill holes extensions are the final of a 5-hole program which has succeeded in "highlighting a thick extensive polymetallic hydrothermal system", extending the Berrigan Deep Zone for a strike length of 250 m and 400 m vertically with intersections to a vertical depth of nearly 900 m.
| Highlights from the drilling include: | |
| Hole TOM-25-012EXT: | 69.40 m grading 3.46% ZnEq (0.81 g/t Au Eq) from 784.20 m to 853.6 m including 40.1 m grading 5.38% ZnEq (1.25 g/t AuEq) from 784.0 m to 824.3 m |
| Hole TOM-25-010EXT: | 19.1 m grading 2.23% ZnEq (0.52 g/t AuEq) from 472.4 m to 491.5 m |
| Hole TOM-25-013EXT: | 7.0 m grading 2.21% ZnEq (0.52 g/t AuEq), including 28.25 g/t Ag from 631.5 m to 638.5 m. |
| Previous intersections in the Berrigan Deep Zone include the following: | |
| Hole TOM-25-015: | 98.50 m at 5.08% ZnEq (1.19 g/t AuEq) from 451.20 m to 549.70 m, |
| including | 4.90 m at 23.20% ZnEq (5.44 g/t AuEq) from 452.20 m to 457.10 m. |
| Hole TOM-25-011EXT: | 204.25 m at 2.05% ZnEq (0.48 g/t AuEq) from 553.90 m to 758.15 m, |
| including | 2.40 m at 31.31% ZnEq (7.38 g/t AuEq) from 554.40 m to 556.80 m. |
| Note: for details on equivalent grades see Table 1 below. | |
Figure 1: Long Section of the Berrigan Main and Deep Zones Facing North
Figure 2: Cross Section of the Berrigan Main and Deep Zones Facing West
Table 1. Summary of Best Intersections Reported by Hole for Phases 1 and 2
Notes:
- The reported widths represent core lengths. True width is estimated to be approximately 80-85% of the core length, depending on the deviation angles.
- ZnEq and AuEq are calculated using the Company's standard parameters.
- AuEq calculation was based on US$4,150/oz Au, $51.34/oz Ag, US$5.023/lb Cu and $1.392/lb Zn. AuEq = Au g/t
+ (Ag g/t × 0.01237) + (Cu ppm × 0.000083) + (Zn ppm × 0.000023), applying metallurgical recovery factors of 95% for zinc, 85% for gold and silver, and 90% for copper, based on a metallurgical report on Berrigan Mine zinc material prepared by Process Research Associates Ltd. in February 2002 and on recoveries from nearby deposits for gold, silver and copper. - ZnEq calculation was based on US$4,047/oz Au, $50.22/oz Ag, US$4.796/lb Cu and $1.390/lb Zn. ZnEq = Zn ppm + (Ag g/t × 527) + (Au g/t x 42466) + (Cu ppm × 3.45) / 10,000, applying metallurgical recovery factors of 95% for zinc, 85% for gold and silver, and 90% for copper, based on a metallurgical report on Berrigan Mine zinc material prepared by Process Research Associates Ltd. in February 2002 and on recoveries from nearby deposits for gold, silver and copper.
Shareholders are invited to access the TomaGold press release which includes much more detail including individual assays, assay methodology, etc. by clicking here.
This press release was written by Jack Stoch, P. Geo., President and CEO of Chibougamau Independent Mines Inc. in his capacity as a Qualified Person (Q.P.) under NI 43-101.
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.
| We Seek Safe Harbour. | CUSIP Number 167101 203 LEI 529900GYUP9EBEF7U709 |
| For further information, contact: | |
| Jack Stoch, P.Geo., Acc.Dir. President & CEO Chibougamau Independent Mines Inc. 86, 14th Street Rouyn-Noranda, Quebec Canada J9X 2J1 | Tel.: 819.797.5242 Fax: 819.797.1470 info@chibougamaumines.com www.chibougamaumines.com |
Caution Regarding Forward-Looking Statements
Certain statements included in this press release may constitute "forward-looking statements" within the meaning of applicable Canadian securities laws. Except as may be required by such laws, Chibougamau Independent Mines Inc. ("Chibougamau") does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements, by their very nature, are subject to numerous risks and uncertainties. As a result, actual results could differ materially from Chibougamau's expectations expressed in or implied by such forward-looking statements. No assurance can be given that any events anticipated by the forward-looking statements will materialize, or if any of them do, what benefits Chibougamau will derive therefrom. Numerous risk factors which may cause actual results to differ materially from expectations expressed in or implied by the forward-looking statements are discussed in Chibougamau's annual information form for the 2025 fiscal year filed with the Canadian securities regulatory authorities, available on SEDAR+ at www.sedarplus.ca and on Chibougamau's website at www.chibougamaumines.com. Chibougamau cautions readers that such risks are not the only ones that could impact it. Additional risks and uncertainties not currently known to Chibougamau or that Chibougamau currently deems to be immaterial may have a material adverse effect on Chibougamau's business, financial condition, and results of operations. Given these risks and uncertainties, Chibougamau cautions investors and others against placing undue reliance on such forward-looking statements as a prediction of future results or for any other purpose. This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the "1933 Act"), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the 1933 Act), except pursuant to an exemption from or in a transaction not subject to the registration requirements of the 1933 Act.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/b0bf5e7a-0062-43a9-b7c2-ef13c7d04b05
https://www.globenewswire.com/NewsRoom/AttachmentNg/12ed7ec9-54a2-49f8-bf81-62208ab0ef92
https://www.globenewswire.com/NewsRoom/AttachmentNg/e4b2a1f8-38b2-4770-99cb-9e5b290d2012
