FULL DISCLOSURE: Canacom Group is long the equity of TomaGold Corp.
A borehole electromagnetic survey completed at by TomaGold (TSXV: LOT) at their Berrigan Mine project is said to have confirmed the presence of a mineralized system at depth while unlocking new targets for further testing.
The survey, conducted in recent drill holes at the Berrigan property, is said to have modeled a total of ten conductive plates that range in orientation and size. The results confirm the high grade intersections previously encountered at Berrigan, while also suggesting that significant potential exists for the extension of known mineralization, while also discovering the Berrigan Deep zone.
Specifically borehole electromagnetics conducted in hole TOM-25-015, which intersected 1.34 g/t gold equivalent over 98.5 metres, has validated continuity of the mineralization system to a depth of at least 450 metres.
The magnetic study is also said to have identified priority target BER-14C, which is a plate that measures 160 metres by 300 metres while remaining open at depth and to the northeast. The plate suggests a massive sulfide lens exists near drill hole TOM-25-014. Hole TOM-25-015 meanwhile is said to have “perfectly” intersected a southeastern extension of this plate.
“The geophysics confirm what our drill cores indicated: Berrigan Mine sits on a large-scale mineralized system. The BER-14C plate, in particular, extends the mineralization signature of holes TOM-25-014 and TOM-25-015 with a vector pointing to an even more conductive zone to the northeast,” commented TomaGold CEO David Grondin.
As part of the next steps at Berrigan, TomaGold has indicated they plan to drill three additional holes at the property within the BER-14C plate. Those holes are intended to test both the northeast and depth extensions of the plate. Follow-up drilling meanwhile is planned to extend three previously drilled holes, while further geophysics are currently set to be used to further define the characteristics of the mineralized system.
TomaGold last traded at $0.085 on the TSX Venture.
FULL DISCLOSURE: Canacom Group, the parent company of The Deep Dive is long the equity of TomaGold Corp. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
