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Toogood Gold Corp. (TSXV: TGC) (OTCQB: TGGCF) (FSE: D3P) ("Toogood" or the "Company") today announced that it has staked 44 additional Bureau of Land Management ("BLM") lode claims at its Table Mountain Gold-Silver Project ("Table Mountain" or the "Project") in Lincoln County, Nevada.
Highlights
- Strategic land expansion through the staking of 44 additional BLM lode claims, increasing Table Mountain to 228 claims totalling approximately 1,902 hectares ("ha");
- Captures extensions of priority arcuate structural corridors, including the "Widowmaker" Trend, one of the Company's key emerging gold-silver target corridors at Table Mountain;
- Secures more than 10 kilometres of cumulative interpreted strike length along the Widowmaker Trend and a subparallel structural corridor;
- Reconnaissance soil geochemistry has been completed across the newly staked claims, with 166 samples collected;
- Enhances project optionality, providing additional ground for exploration access, staging and future project infrastructure planning; and
- Phase 2 exploration is set to commence in July, including approximately 20 line-kilometres of controlled-source audio-frequency magnetotellurics ("CSAMT") and targeted follow-up prospecting, rock sampling and geological mapping.
Management Commentary
"This claim expansion is a strategic and timely step as we continue to define the scale, alteration footprint and structural framework of the low-sulphidation epithermal system at Table Mountain," stated Colin Smith, CEO of Toogood Gold Corp. "The additional claims secure more than 10 kilometres of cumulative interpreted strike length across two priority structural corridors and provide additional high-priority ground for immediate evaluation. With reconnaissance soil sampling complete and Phase 2 CSAMT, prospecting, rock sampling and mapping set to commence, we are well positioned to advance these corridors toward drill targeting."
Strategic Claim Expansion
The 44 newly staked BLM lode claims cover approximately 368 ha and increase Table Mountain to 228 claims totalling approximately 1,906 ha. The staking was completed to secure open ground along the interpreted continuation of priority structural corridors, including the Widowmaker Trend and a subparallel arcuate trend, ahead of Phase 2 exploration (Figure 1).
Reconnaissance soil geochemistry has been completed across the newly staked claims, with 166 samples collected. Results will be integrated with ongoing geological mapping, prospecting, LiDAR and geophysical datasets. The expanded claim package adds new priority ground for Phase 2 target evaluation and follow-up exploration.
Phase 2 Exploration
Toogood has engaged Zonge International to complete approximately 20 line-kilometres of CSAMT surveying at Table Mountain. The survey will focus on priority target corridors, including the Widowmaker Trend and a subparallel trend, and is designed to map subsurface resistivity contrasts potentially associated with structures, silicification, alteration and hydrothermal fluid pathways.
Phase 2 prospecting and rock sampling, to be conducted by Big Rock Exploration, will include targeted follow-up across priority corridors as well as systematic coverage of the broader alteration footprint at Table Mountain.
Figure 1: Expanded Table Mountain Project showing priority interpreted structural corridors, reconnaissance soil geochemistry and planned CSAMT survey area.
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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 of the Company, as he serves as its CEO and Director 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 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
info@toogoodgoldcorp.com
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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