TomaGold intersects 27.75 m at 0.84 g/t Au on Obalski and increases grade of reanalyzed gold samples to up to 38%
NEWS RELEASE
TSXV: LOT
TomaGold intersects 27.75 m at 0.84 g/t Au on Obalski and increases grade
of reanalyzed gold samples to up to 38%
• Grinding selected samples to 90% (finer grind) instead of 70% increases gold grades
from 5% to 38% for these samples.
• Best result from the 2,958-metre drill program includes 27.75 metres grading 0.84 g/t
Au (90% grind), intersecting the A-Po Zone.
• About 300 additional samples from previous drilling have been sent to the laboratory
for reanalysis.
• TomaGold will begin a 1,500-metre drill program on Obalski next week to test new
targets identified by geophysics.
Montreal, Québec, April 5, 2023 ‒ TOMAGOLD CORPORATION (TSXV: LOT) (OTCQB: TOGOF)
(“TomaGold” or the “Corporation”) is pleased to announce the results of the year -end 2022 drilling
program on its wholly owned Obalski property, located 2 km south of Chibougamau, Quebec. In addition,
the Corporation presents the results of reanalysis of selected samples from drilling on Obalski.
“While this latest program has continued to intersect significant intersections on Obalski, we are
particularly excited about the reanalysis results, which have increased certain historical gold grades
significantly,” said David Grondin, President and CEO of TomaGold. “After extensive testing by independent
laboratories, we have concluded that the mineral material on Obalski needs to be grinded finer at 90%
instead of 70% for optimal results and that the best results appear to come from lower grade intersections
that do not have a nugget effect. To further confirm our theory, close to 300 samples from previous drilling
were sent to the laboratory for reanalysis.”
Drilling program
After a compilation of geophysical surveys carried out in several phases in 2021 and 2022 in the field and
through drilling, several resistivity and chargeability anomalies were identified. Drilling recommendations
were then submitted by Abitibi Geophysics of Val-d'Or.
Following these recommendations, a program of six NQ diameter holes totalling 2,958 metres was drilled
on high resistivity/low chargeability and low resistivity/high chargeability anomalies. Hole OBS -22-020
tested a high-resistivity anomaly and holes OBS-22-021 to OBS-22-025 tested two low-resistivity/high-
chargeability anomalies. The following table presents the results obtained.
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Hole
From
(m)
To
(m)
Length
(m)*
Au g/t
(70%
grinding)
Au g/t
(90%
grinding)
Metal
factor
(70%)
Metal
factor
(90%)
Variation
following
reanalysis
OBS-22-020 122.85 122.35 0.50 0.21 No reanalysis performed
OBS-22-021 264.0 264.5 0.50 0.81
No reanalysis performed 387.3 391.5 4.20 0.25
437.0 437.5 0.50 0.29
OBS-22-022 52.55 53.9 1.35 0.44
No reanalysis performed 312.0 315.1 3.10 0.43
421.7 423.85 2.15 0.46
OBS-22-023 119.3 120.9 1.60 2.89 No reanalysis performed 458.0 458.5 0.50 0.52
OBS-22-024 366.4 366.9 0.50 2.49
No reanalysis performed 406.65 409.65 3.00 1.05
412.6 414.0 1.40 0.28
OBS-22-025 451.8 479.55 27.75 0.76 0.84 21.09 23.31 +10.7%
* True width is estimated at 65-70% of core length.
The result obtained from hole OBS-22-025 is particularly significant. The hole intersected the A -Po
mineralized zone at a vertical depth of 400 metres. This intersection could represent the A-Po zone which
is intersected by a possible NNE-SSW trending fault that would have caused remobilization of the gold-
bearing sulphides. This area will be the subject of further drilling.
Location of drill holes
Hole Easting Northing Azimuth Dip Length
OBS-22-020 543472 5524561 200° -50° 417
OBS-22-021 543410 5524466 020° -50° 468
OBS-22-022 543410 5524466 020° -60° 543
OBS-22-023 543410 5524466 020° -70° 558
OBS-22-024 543456 5524449 020° -50° 471
OBS-22-025 543456 5524449 020° -60° 501
Sample reanalysis
Since the acquisition of the Obalski project, several questions have been raised about the validity of the
analytical methods used for gold and silver analysis. Some experts have raised the possibility of the
presence of halogens while others have questioned the fineness of the initial grinding of the half -core
samples and the final pulp volume upon pulverization.
The Corporation thus proceeded with the reanalysis of two groups of samples from significant mineralized
zones. The first group was designed to investigate the possible presence of problematic halogens. A total
of 44 pulp samples were processed by direct cyanidation. The results showed no significant difference
between the fire assay and direct cyanidation methods. The halogen problem was therefore ruled out.
The second group of 132 samples was carefully selected for reprocessing from the original rejects. These
rejects were reground to 90% passing 2 mm instead of 70% passing 2 mm as was done in the first fire assay.
The Corporation also decided to produce at least 1 kg of pulp at < 75 microns instead of 200 g < 75 microns
before the final 50 g batch for fire assay.
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The following table shows the results obtained for holes with a metal factor greater than 10. In addition,
for hole OBS-22-015A, we can see the difference between a high-grade gold intersection due to a nugget
effect and an intersection without the high grade.
Hole
From
(m)
To
(m)
Length
(m)*
Au g/t
(70%
grinding)
Au g/t
(90%
grinding)
Metal
factor
(70%)
Metal
factor
(90%)
Variation
following
reanalysis
OBS-22-005A 390.25 439.5 49.25 0.21 0.22 10.34 10.84 +4.8%
OBS-22-015A
(incl. 71 g/t) 417.75 427.35 9.60 5.52 4.36 52.99 41.86 -11.1%
OBS-22-015A
(excl. 71 g/t) 417.75 426.70 8.95 0.71 0.82 6.35 7.34 +15.6%
OBS-22-016 259.5 283.5 24.00 0.32 0.44 7.68 10.56 +37.5%
OBS-22-025 451.8 479.55 27.75 0.76 0.84 21.09 23.31 +10.7%
* True width is estimated at 65-70% of core length.
Considering that the number of samples reanalyzed is relatively small, the Corporation has decided to
reanalyze approximately 300 additional samples to further corroborate its theory.
Sample preparation and analysis
TomaGold has implemented and is adhering to a strict Quality Assurance/Quality Control program for the
current drilling program. The core is sawed in half, with one half kept as a witness sample in Chibougamau
and the other half shipped directly by bus to ALS Chemex in Val-d’Or, Quebec. ALS grinds the half core to
1/8", split it into two halves and keeps one half as a witness (reject) in Val-d’Or. ALS pulverizes the other
half to minus 200 mesh, takes a 50 g sample for analysis and keeps the rest, identified as “pulp”.
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 to 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) (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. TomaGold holds interests in five gold properties near the Chibougamau mining camp in
northern Quebec: Obalski, Monster Lake East, Monster Lake West, Hazeur and Doda Lake, as well as a
24.5% interest through a joint venture with Evolution Mining Ltd. and New Gold Inc. in the Baird property,
located near the Red Lake mining camp in Ontario. In addition, it owns a 100% interest in a lithium property
and in the Star Lake rare earth elements property, located in the James Bay region of Quebec.
Contact:
David Grondin
President and Chief Executive Officer
(514) 583-3490
www.tomagoldcorp.com
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