TomaGold to test a major multi-kilometre copper geochemical anomaly on the Monster Lake East property The Company also provides an exploration update for its Obalski and Hazeur properties
PRESS RELEASE
TSXV: LOT
TomaGold to test a major multi-kilometre copper geochemical
anomaly on the Monster Lake East property
The Company also provides an exploration update for its Obalski and Hazeur properties
Montreal, Quebec, February 26, 2018 - TOMAGOLD CORPORATION (TSXV: LOT)
(“TomaGold” or the “Corporation”) is pleased to provide an update on the exploration work planned
for 2018, which will take place on its Monster Lake East, Obalski and Hazeur properties.
Monster Lake East property (100% TomaGold)
Hazeur property (70% TomaGold, 30% Visible Gold)
The Monster Lake East / Hazeur properties are contiguous to the south and east of the Monster
Lake, Winchester and Lac-à-l’eau-Jaune properties, which are being actively explored by partner
IAMGOLD, and also cover the southwest extension of the Fancamp deformation corridor.
On the Monster Lake East property there is a large copper geochemical anomaly that was
discovered by a government survey. The anomaly strikes at about 330° for several kilometres to
the northwest of Trois-Iles Lake. TomaGold recently carried out a partial airborne survey in the
area of the anomaly and will very shortly begin cutting a grid of 20 km of lines, including a 4 km
baseline, and retained Abitibi Geophysics to conduct a detailed IP survey to explore the anomaly
to a depth of 300 m.
Furthermore, a detailed compilation has begun on the Monster Lake East / Hazeur properties to
correlate all the detailed airborne and ground geophysical survey data with recent stratigraphic
and structural interpretations. Detailed information from recent drillin g by TomaG old will also be
incorporated to the interpretation, which will generate drilling recommendations.
“We are really looking forward to exploring this major, multi-kilometre long copper anomaly on our
Monster Lake East property,” said David Grondin, President and Chief Executive Officer of
TomaGold. “This next phase of work will give us a much better idea of the property’s potential.”
Obalski property (100% TomaGold)
A 3D modelling project was been initiated on the Obalski property in the last few months. Assays
and core information from 320 diamond drill holes and core information from 22 underground drill
holes are being incorporated into the model, which should be completed in the coming weeks.
Drilling on the B-Zone in January 2017 returned up to 15.0 g/t Au, 46.8 g/t Ag and 10.4% Cu over
a true width of 2.1 m (see news release dated March 16, 2017) and drilling on the C-Zone in 2012
returned up to 33.60 g/t Au, 23.74 g/t Ag and 1.15% Cu over a true width of 2.0 m . Based on the
most recent surface drilling results, a new structural interpretation for the control of the gold -
copper-silver mineralization was developed. The mineralization of economic interest consists of
irregular quartz veining located within shears and fractures. Two main directions are evident :
1) North 110° (the “A” and “C” zones along with the “G” Zone further East); and 2) North 075° (the
“B” and “D” zones). The average width of the mineralization is 1 to 2 m. It should be noted that the
110° structure is more Cu-Au rich and the 075° structure is more Au -Cu rich. The 075° structure
also appears to cut and displace the 110° structure.
The mineralization is comprised of chalcopyrite, pyrite, sphalerite, visible gold, and magnetite and
pyrrhotite locally. The presence of pyrrhotite could be associated with the replacement of the
magnetite in the magnetite -rich layered zone of the Lac Dore Complex by the gold -bearing
mineralization. If this is the case, the magnetite-rich zone would act as a “typical Iron Formation”
for the formation of gold deposits. The 3D modelling is aimed at better defining the local
stratigraphy (which appears to strike N-000° and dip moderately to the west) in order to establish
a possible correlation between the better mineralized intersections and the magnetite-rich layers
(replaced locally by pyrrhotite), based on which drilling targets will be recommended.
The tec hnical content of this press release has been rev iewed and approved by Claude P.
Larouche, Eng., a qualified person as defined by National Instrument 43-101.
About TomaGold Corporation
TomaGold Corporation is a Canadian mineral exploration company engaged in the acquisition,
assessment, exploration and development of gold mineral properties. To optimize its chances of
discovery and minimize its exploration risk, TomaGold aims to develop high-grade gold properties
with major mining companies. It currently has joint venture agreements with IAMGOLD Corporation
for the Monster Lake project, with Goldcorp Inc. for the Sidace Lake property, and with Goldcorp
Inc. and New Gold Inc. for the Baird property. TomaGold has interests in six gold properties in
northern Quebec: Monster Lake, Winchester, Lac-à-l'Eau-Jaune, Monster Lake East, Obalski and
Lac Cavan near the Chibougamau mining camp. It also holds a 39.5% interest in the Sidace Lake
property and a 24.5% in the Baird property near the Red Lake mining camp in Onta rio. Finally, it
has an option to acquire a 70% interest in the Hazeur property, at the southern edge of the Monster
Lake group of properties.
The Corporation is also engaged in gold brokerage activities in South America through its
subsidiary, TomaSouth Corporation.
Contact:
David Grondin
President and Chief Executive Officer
(514) 583-3490
www.tomagoldcorp.com
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