TomaGold reports strong geophysical anomalies on the southern portion of Obalski

TomaGold reports strong geophysical anomalies on the southern portion of Obalski

Company starts 3,000-metre drilling program to test the new anomalies

CEO Interview today at 9:00 AM ET: Update on Obalski

TomaGold Corporation (TSXV: LOT) (OTCQB: TOGOF) (" TomaGold " or the " Corporation ") is pleased to announce that it has received the report on the DAS Vision3D induced polarization (IP) survey carried out on the southern portion of its 100%-owned Obalski property, located 2 km south of Chibougamau, in Quebec.

The survey, conducted by Abitibi Geophysics of Val-d'Or, revealed the presence of at least six strong chargeability and/or resistivity anomalies south of the APo zone, which extend downward from peaks located at a vertical depth of 100 to 150 m and remain open at an average depth of 325 m. A number of less strong anomalies were also found.

As a result, TomaGold has initiated a 3,000-metre drilling program on the main anomalies located by the IP survey to assess their nature and the type of mineralization encountered. It should be noted that the southern portion of the property has seen only very limited shallow drilling to date, to a maximum vertical depth of 200 m. The Corporation expects to complete the current drilling program within the next couple of weeks.

LOT_First PR Image

Chargeability plan views at approximate vertical depths of 105 m, 205 m and 305 m

"This is a major find for us, as it warrants drilling in untested areas that show even stronger exploration potential than what we have seen in previous work," said David Grondin, President and CEO of TomaGold. "We have just started drilling the newly-discovered anomalies and we're eager to see where this next phase of exploration will take Obalski."

Recommended 3,000-metre drilling program

Holes OBA-01A and OBA-01B

Best targets of the survey. This source is strongly chargeable and well-defined, with its centre at a depth of approximately 150 m. Not yet drilled-tested. Two holes are recommended for targeting the top and the bottom of this anomaly.
LOT_OBA1
Chargeability section view

Hole OBA-02

A well-defined, moderately to strongly chargeable target approximately 125 m below surface. A few historical holes were drilled in close proximity to this anomaly; hole OB-83-92 was the closest but seems to have missed the centre.
LOT_OBA2
Chargeability section view

Hole OBA-03

Moderately chargeable source located at a depth of 150 m (centre). Found within a resistive channel and therefore appears as a gold index target. Not yet drilled-tested.
LOT_OBA3
Chargeability section view

Hole OBA-04

Shallow (75 m below surface) weakly chargeable target. Associated with moderate resistivity values. Weak gold index target. Not yet drilled-tested.
LOT_OBA4
Chargeability section view

Hole OBA-05

Deep gold index target. Appears as a highly resistive and chargeable body. Not yet drilled-tested.
LOT_OBA5
Gold index section view

Hole OBA-06

Shallow (75 m below surface) weakly chargeable target. Found on the edge of a resistive body and appears as a moderate gold index. Not yet drilled-tested.
LOT_OBA6
Chargeability section view

Hole OBA-07

Deep gold index target. This source is found within a large resistivity body that returned the highest values of the survey. Not yet drilled-tested.
LOT_OBA7
Gold index section view


The technical content of this press release has been reviewed and approved by André Jean, P.Eng., the Corporation's Director of Exploration and a qualified person under National Instrument 43-101.

About the Obalski property
The Obalski property covers 345 hectares about 2 km south of Chibougamau, Quebec. Discovered in 1928, the Obalski deposit produced 100,273 tonnes at grades of 1.14% Cu, 2.08 g/t Au and 6.04 g/t Ag from the A zone between 1964 and 1972, and around 9,000 tonnes at a reported grade of 8.5 g/t Au from the D zone in 1984 (Source: SIGEOM and Camchib Exploration internal reports).

About TomaGold
TomaGold Corporation (TSXV: LOT) is a Canadian mineral exploration corporation engaged in the acquisition, assessment, exploration and development of gold mineral properties. TomaGold has interests in five gold properties near the Chibougamau mining camp in northern Quebec: Obalski, Monster Lake East, Monster Lake West, Hazeur and Lac Doda. It also participates in a joint venture with Evolution Mining Ltd. and New Gold Inc., through which it holds a 24.5% interest in the Baird property, near the Red Lake mining camp in Ontario.

Contact:
David Grondin
President and Chief Executive Officer
(514) 583-3490
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. Some of the statements contained in this press release are forward-looking statements within the meaning of applicable securities laws. Forward-looking statements can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "might" or "will" be taken, occur or be achieved. Forward-looking statements are not historical facts and are subject to a number of risks and uncertainties beyond the Corporation's control. Readers are cautioned that such statements are not guarantees of future performance and that actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/97ac70d0-3c40-46c7-bf07-2106aef9beec  
  https://www.globenewswire.com/NewsRoom/AttachmentNg/f571f3d5-d257-4e9d-85b7-03269d02993b  
  https://www.globenewswire.com/NewsRoom/AttachmentNg/f7e475f6-369c-4d15-bb8c-d09dd68f0469  
  https://www.globenewswire.com/NewsRoom/AttachmentNg/1e2d3385-a74e-443a-807d-981a44bc251e  
  https://www.globenewswire.com/NewsRoom/AttachmentNg/8aa3b70f-9687-433f-96eb-3ba3450ef3b1  
  https://www.globenewswire.com/NewsRoom/AttachmentNg/ecf7ee7e-f481-4211-8e4f-8fbe743f2eab  
  https://www.globenewswire.com/NewsRoom/AttachmentNg/fc6aa2ac-bbbc-4d81-b100-df12abe3e474  
  https://www.globenewswire.com/NewsRoom/AttachmentNg/db17088c-0af2-4196-9207-33a3f566c890


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

LOT:CA
The Conversation (0)
TomaGold Extends East Block Acquisition Term

TomaGold Extends East Block Acquisition Term

TomaGold Corporation (TSXV: LOT) (OTCQB: TOGOF) (" TomaGold " or the " Corporation ") wishes to inform its shareholders that it has extended the "Option to Purchase" with Chibougamau Independent Mines Inc. (TSXV: CBG) (" Chibougamau ") by 45 days to allow completion of due diligence and secure financing to acquire Chibougamau's East Block copper-gold properties. The initial transaction was announced in the press releases dated August 14, 2023 September 13, 2023 and September 18, 2023 .

About TomaGold
TomaGold Corporation (TSXV: LOT) (OTCQB: TOGOF) is a Canadian mineral exploration company engaged in the acquisition, assessment, exploration and development of gold, copper, rare earth elements and lithium projects. Its primary goal is to consolidate the Chibougamau Mining Camp in northern Quebec. In addition to the recent agreements to acquire 20 properties in the camp, the Corporation holds interests in five gold properties in the vicinity of the camp: Obalski, Monster Lake East, Monster Lake West, Hazeur and Doda Lake.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
East Block Acquisition Term Extended

East Block Acquisition Term Extended

Chibougamau Independent Mines Inc. (CBG-TSXV in Canada, CLL1-Frankfurt, Stuttgart, Berlin and Lang & Schwarz Stock Exchanges in Germany, CMAUF-OTC in the US), herein called Chibougamau, wishes to inform shareholders that Chibougamau has extended the "Option to Purchase" accorded to TomaGold Corp. (LOT-TSXV) by 45 days to allow completion of due diligence and secure financing to acquire Chibougamau's East Block of advanced copper-gold properties. The initial transaction was announced in press releases dated August 14, 2023 and September 13 th 2023 .

This press release was written by Jack Stoch, P. Geo., President and CEO of Chibougamau Independent Mines Inc.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
TSX Venture Exchange Stock Maintenance Bulletins

TSX Venture Exchange Stock Maintenance Bulletins

TSX VENTURE COMPANIES

BULLETIN V2024-0267

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
TomaGold meets all initial acquisition commitments of Chibougamau Mining Camp properties

TomaGold meets all initial acquisition commitments of Chibougamau Mining Camp properties

TomaGold Corporation (TSXV: LOT) (OTCQB: TOGOF) (" TomaGold " or the " Corporation ") is pleased to announce that it has met all its initial commitments regarding the previously-announced acquisition of 20 mining properties (press releases dated August 14 and September 13 ), forming the major portion of the Chibougamau Mining Camp, in Quebec, Canada.

LOT_Chibougamau-Claims-Map-(Aug-2023)

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Canadian Investment Regulatory Organization Trade Resumption - LOT

Canadian Investment Regulatory Organization Trade Resumption - LOT

Trading resumes in:

Company: TomaGold Corporation

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Zodiac Gold Terminates Exclusivity Agreement with Mable and Fable Limited to Pursue Multiple Strategic Opportunities and Announces Up To C$500,000 Shareholder-Led Private Placement

Zodiac Gold Terminates Exclusivity Agreement with Mable and Fable Limited to Pursue Multiple Strategic Opportunities and Announces Up To C$500,000 Shareholder-Led Private Placement

Zodiac Gold Inc. (TSXV: ZAU) ("Zodiac Gold" or the "Company"), a West-African gold exploration company, announces that it has terminated the exclusivity agreement previously entered into with Mable and Fable Limited ("MFL") on September 26, 2024, due to MFL's failure to satisfy their funding obligations under the agreement.

By terminating the exclusivity agreement, the Company is now free to pursue multiple strategic opportunities (including partnerships, joint ventures and financings) that have emerged since the announcement of its recent iron ore discovery. Following that announcement, Zodiac Gold has received substantial interest from multiple parties regarding these high-potential assets. The Company intends to evaluate these opportunities with a view towards identifying how to best leverage its iron ore assets in one or more transactions that will maximize shareholder value. In parallel, Zodiac Gold intends to continue to build on the exploration success of its recently completed Alasala and Arthington drilling programs at its Todi Project.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
PROSPECT RIDGE CONFIRMS LARGE MINERALIZED SYSTEM AT COPPER RIDGE ZONE OF KNAUSS CREEK PROPERTY IN BRITISH COLUMBIA, CANADA

PROSPECT RIDGE CONFIRMS LARGE MINERALIZED SYSTEM AT COPPER RIDGE ZONE OF KNAUSS CREEK PROPERTY IN BRITISH COLUMBIA, CANADA

Prospect Ridge Resources Corp. (the " Company " or " Prospect Ridge ") (CSE: PRR) (OTC: PRRSF) (FRA: OED) is pleased to announce the results of its drilling campaign at the Copper Ridge Zone (" Copper Ridge ") of its wholly-owned Knauss Creek property located approximately 35 kilometres (km) northeast of Terrace, British Columbia .

Drill Program Highlights

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Element79 Announces Closing of First Tranche of Non-Brokered Private Placement

Element79 Announces Closing of First Tranche of Non-Brokered Private Placement

(TheNewswire)

Element79 Gold Corp.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Riverside Resources Announces the Launch of Blue Jay Resources and Its Ontario Gold Project Portfolio

Riverside Resources Announces the Launch of Blue Jay Resources and Its Ontario Gold Project Portfolio

Intention to Spinout Blue Jay in 2025

Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) ("Riverside" or the "Company"), is pleased to announce the completed transfer of its three key Ontario gold properties: Pichette, Oakes, and Duc to its wholly-owned subsidiary, Blue Jay Resources Inc ("Blue Jay"). This move lays the groundwork for Riverside's strategic plan to advance its Ontario portfolio by establishing Blue Jay as a standalone exploration company. Blue Jay can fully focus on the exploration, discovery, and value-creation potential that these assets deserve. This structure provides Riverside shareholders with exposure to potential gains, while also paving the way for capital investment aimed at unlocking value in these properties.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Grande Portage Announces First Closing of Non-Brokered Private Placement -- Pursuant to the Listed Issuer Financing Exemption

Grande Portage Announces First Closing of Non-Brokered Private Placement -- Pursuant to the Listed Issuer Financing Exemption

Not for distribution to United States newswire services or for dissemination in the United States.

Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) ("Grande Portage" or the "Company") is pleased to announce that it has completed a first closing of its non-brokered private placement previously announced on October 30, 2024 for the sale of 3,470,000 units (each, a "Unit") at a price of C$0.30 per Unit for aggregate gross proceeds of C$1,041,000 (the "Offering"). The Offering is being carried out pursuant to Part 5A of National Instrument 45-106 - Prospectus Exemptions - Listed Issuer Financing Exemption (the "LIFE Exemption") to purchasers resident in Canada, and in jurisdictions outside of Canada in compliance with the applicable securities laws of those jurisdictions. The Company has an offering document (the "Offering Document") related to the Offering that can be accessed under Grande Portage's profile at www.sedarplus.ca and on the Company's website at https:grandeportage.com. Except for one US accredited investor, all other investors participating in the first closing subscribed for Units under the LIFE Exemption, and the Units issued pursuant to the LIFE Exemption are not subject to any statutory hold period in Canada. However, the Units issued to the US accredited investor are subject to Rule 144 resale restrictions under applicable US securities laws and will bear a legend to that effect

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Two New Reduced Intrusive  Targets, Totalling Four, Identified at Tombstone Belt, Yukon - Gold Orogen, New Spin Co of Lode Gold

Two New Reduced Intrusive Targets, Totalling Four, Identified at Tombstone Belt, Yukon - Gold Orogen, New Spin Co of Lode Gold

Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) ("Lode Gold " or the "Company") is pleased to announce the results of our ongoing interpretation of data collected during the summer 2024 QMAGT survey.

Importantly, two additional RIRGS targets "Stingray" and "Camp" have been defined on the Golden Culvert property as a direct result of incorporating the new geophysical data with existing geochemical datasets. These new targets complement the RIRGS targets already identified (a total of four highly prospective RIRGS targets, namely "Border", "Steelhead", "Stingray" and "Camp") by Gold Orogen, subsidiary of Lode Gold, on its nearby WIN property.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×