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Toogood Gold Corp. (TSXV: TGC) (OTCQB: TGGCF) (FSE: D3P) ("Toogood" or the "Company") is pleased to announce the commencement of the first-ever systematic, property-wide exploration program ("Phase 1") at its Table Mountain Gold-Silver Project ("Table Mountain" or the "Project"), located in Lincoln County, Nevada.
Key Points Summary
- Phase 1 program underway: Systematic, property-wide exploration has commenced at Table Mountain;
- Property-wide soils: Over 6,150 soil samples planned on a NW-SE oriented grid covering the full Project area;
- Detailed mapping: 1:5,000-scale geological and structural mapping led by VP Exploration Lee Hess, a structural geologist with extensive experience in Great Basin gold systems, including 10 years with SSR Mining's Global Project Generation team;
- Prospecting, rock sampling and spectral program: Dedicated property-wide prospecting, rock sampling and hand-held spectral scanning program (targeting 250 rock samples);
- High-resolution ground gravity: 1,673 stations on a 100 x 100 metre grid to define subsurface structural architecture;
- High-resolution drone magnetics: 25 metre line-spacing (767 line-km) to refine structural framework;
- Phase 2 exploration: To commence after completion of Phase 1, including controlled-source audio-frequency magnetotellurics ("CSAMT") to map deeper resistive features, in conjunction with drill-target-focused follow-up mapping, prospecting and rock sampling;
- Clear path to drilling: Phases 1 and 2 are designed to deliver ranked drill targets in Q3 2026.
Management Commentary
"Table Mountain represents a rare opportunity to apply modern, systematic exploration to a district-scale, undrilled low-sulphidation epithermal gold-silver system in Nevada," stated Colin Smith, CEO of Toogood Gold Corp. "Lee and I recently returned from field reconnaissance at Table Mountain and came away very excited by the scale of exposed epithermal veining, the regional structural framework, newly observed unmapped vein occurrences, and ultimately, by the opportunity to evaluate the Project for the first time with a modern, integrated exploration program. This Phase 1 program is designed to rapidly build the first integrated property-wide dataset at Table Mountain and advance the Project toward prioritized targets for a maiden drill campaign."
Phase 1 Exploration Summary
The Phase 1 program is designed to establish the first integrated, property-wide exploration dataset at Table Mountain. Work will combine systematic soil geochemistry, detailed geological and structural mapping, prospecting, rock sampling, handheld spectral analysis, ground gravity and UAV magnetics to define priority structural corridors, alteration patterns and geochemical anomalies across the Project.
The resulting dataset will be used to rank targets for Phase 2 follow-up work, including CSAMT geophysics and drill-target-focused mapping and sampling, with the objective of advancing Table Mountain toward a maiden drill campaign.
The integrated Phase 1 exploration dataset is designed to:
- Delineate, extend and refine known kilometre-scale structural corridors;
- Identify new epithermal vein occurrences and prospective structural corridors;
- Define coherent geochemical anomalies across the alteration footprint;
- Constrain structural and geological controls on mineralization; and
- Generate and rank drill targets.
Soil Geochemistry
Property-wide soil sampling will be conducted by North American Exploration ("NAE"), comprising over 6,150 samples collected on a systematic grid with 25-metre sample spacing along 100-metre-spaced lines (Figure 1).
The program is designed to delineate coherent gold, silver and multi-element epithermal pathfinder anomalies (Sb-As-Hg ± Mo) across the 4 x 2 km hydrothermal system. Soil geochemistry will facilitate vectoring along multiple kilometre-scale structural corridors interpreted as primary fluid conduits for mineralization.
Geological and Structural Mapping
Detailed 1:5,000-scale geological and structural mapping will be conducted across the property by the Company's Vice President of Exploration, Lee Hess. Mapping will focus on vein architecture, structural controls, alteration zonation, and epithermal textural relationships to support vectoring toward mineralized structures.
Mr. Hess is a structural geologist with 15 years' experience in Great Basin gold systems, including 10 years with SSR Mining's Global Project Generation team, where he advanced multiple Nevada greenfield concessions to drill-ready stage.
Prospecting, Rock Sampling and Spectral Scanning
Big Rock Exploration ("Big Rock") has been engaged to conduct property-wide prospecting and rock sampling, targeting approximately 250 rock samples. All rock samples and key outcrops will be scanned with a handheld analytical spectral device (TerraSpec Halo), enabling rapid characterization of alteration mineralogy and vectoring toward prospective zones.
Ground Gravity Survey
Magee Geophysical Services LLC ("Magee") will conduct a high-resolution, property-wide ground gravity survey comprising approximately 1,673 stations on a 100 m × 100 m grid. The survey is designed to support interpretation of basin geometry, structural architecture, and potential density contrasts associated with mineralized systems (Figure 1).
Drone Magnetic Survey
MWH Geo-Surveys International Inc. ("MWH") will complete a high-resolution, property-wide unmanned aerial vehicle ("UAV") magnetic survey, comprising approximately 767 line-kilometres at 25-metre line spacing. The survey is designed to refine the structural framework, delineate fault corridors, and support integration with geological mapping, geochemistry, and ground gravity geophysics (Figure 1).
Figure 1: Proposed UAV magnetics, ground gravity, and soils grid, Table Mountain Project.
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Analytical Procedures
All soil and rock samples will be submitted to MSALABS ("MSA") in Elko, Nevada for sample preparation, with analytical work conducted at MSA's ISO/IEC 17025 accredited facilities. Sample preparation and analytical procedures will be performed in accordance with industry-standard practices and the laboratory's established quality assurance and quality control protocols.
Soil samples will be prepared using method PRP-757 (drying and screening to -80 mesh fraction). Gold will be analyzed by 30-gram fire assay with ICP-ES finish (FAS-114). Multi-element geochemistry will be determined by four-acid digestion with ICP-MS finish (48 elements), with mercury analyzed separately (IMS-2305 or equivalent ultra-trace method).
Rock samples will be prepared using method PRP-910 (drying, crushing, splitting, and pulverizing to 85% passing 75 µm). Gold will be analyzed by 30-gram fire assay with ICP-ES finish (FAS-114). Multi-element geochemistry will be determined by four-acid digestion followed by ICP-MS analysis, including mercury (IMS-230).
Quality Assurance, Quality Control ("QA/QC")
The Company will implement a QA/QC program for all soil and rock sampling in accordance with industry best practices. Certified reference materials ("CRMs") and blank samples sourced from CDN Resource Laboratories will be inserted into the sample stream at regular intervals, representing approximately 5% of total samples, consisting of one CRM, one blank, and one field duplicate per 50 samples.
MSALABS ("MSA") also conducts its own internal QA/QC procedures in accordance with ISO/IEC 17025 accredited laboratory protocols, including the insertion of standards, blanks, and duplicate analyses.
The Company will systematically review analytical results, including QA/QC data, to verify accuracy and precision. Any analytical results failing to meet established QA/QC criteria will be subject to investigation and may be re-analyzed or re-assayed as appropriate.
Qualified Person
Colin Smith, M.Sc., P.Geo., a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained in this news release. Mr. Smith is not independent and serves as CEO and Director of Toogood Gold Corp. and owns securities of the Company.
About Toogood Gold Corp.
Toogood Gold Corp. is a Canadian exploration company focused on the discovery and advancement of high-grade gold systems in tier-one mining jurisdictions. The Company has two core areas of focus: the Table Mountain Project in Nevada, where the Company has an option to earn a 100% interest in a large, undrilled low-sulphidation epithermal system with extensive surface alteration and multiple mineralized vein exposures; and the district-scale Toogood Gold Project in Newfoundland, where the Company has an option to earn a 100% interest in a 164 km² land package covering a highly prospective and underexplored gold district with multiple target areas and demonstrated gold prospectivity.
On Behalf of the Board of Directors
Colin Smith
Director & CEO
Toogood Gold Corp.
For further information contact:
Colin Smith, Director & CEO
+1 778 726-3356
Additional information about Toogood Gold Corp. can be found at www.sedarplus.ca.
Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain acts, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, the need for additional capital by the Company through financings, and the risk that such funds may not be raised; the speculative nature of exploration and the stages of the Company's properties; the effect of changes in commodity prices; regulatory risks that development of the Company's material properties will not be acceptable for social, environmental or other reasons; availability of equipment (including drills) and personnel to carry out work programs; and that each stage of work will be completed within expected time frames. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this news release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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