FULL DISCLOSURE: Canacom Group is long the equity of TomaGold.
TomaGold (TSXV: LOT) has released the initial assay results from a 3,098 metre drill program conducted at their Berrigan Mine project, found in the Chibougamau mining region of Quebec.
The company has released assay results from a total of two of the nine holes conducted under the drill program, with further assay results said to be pending. Highlights from the results include:
- TOM-25-09: 6.68% zinc equivalent (1.12 g/t gold, 7.55 g/t silver, 365 ppm copper, 13,977 ppm zinc) over 48.05 metres from a depth of 156.70 metres
- Including 39.03% zinc equivalent (6.76 g/t gold, 40.24 g/t silver, 1,897 ppm copper, 75,694 ppm zinc) over 2.90 metres
- Including 21.86% zinc equivalent (3.75 g/t gold, 16.35 g/t silver, 754 ppm copper, 48,142 ppm zinc) over 5.40 metres
- And 5.44% zinc equivalent (0.59 g/t gold, 7.22 g/t silver, 440 ppm copper, 24,026 ppm zinc) over 15.20 metres from a depth of 244.50 metres
- Including 25.15% zinc equivalent (2.24 g/t gold, 32.07 g/t silver, 1,472 ppm copper, 134,216 ppm zinc) over 2.55 metres
- Including 39.03% zinc equivalent (6.76 g/t gold, 40.24 g/t silver, 1,897 ppm copper, 75,694 ppm zinc) over 2.90 metres
- TOM-25-010: 2.67% zinc equivalent (0.30 g/t gold, 4.11 g/t silver, 385 ppm copper, 10,557 ppm zinc) over 48.30 metres from a depth of 130.70 metres
- Including 12.87% zinc equivalent (1.63 g/t gold, 16.13 g/t silver, 928 ppm copper, 47,881 ppm zinc) over 6.25 metres
The assay results are said to confirm the presence of high-grade gold-bearing polymetallic vein systems. Those systems are hosted within a mineralized envelope of ultramafic rocks. A significant hydrothermal signature is said to be located at the roof of mineralization, which provides guidance for potential extensions.
“These initial results are truly outstanding, most notably the 39% ZnEq intersection in hole TOM-25-009. The confirmation of a hydrothermal footprint overlying the main mineralized zones significantly reinforces our geological understanding of the Berrigan Mine project. With the EM survey currently underway and extension drilling results expected in January, we look forward to defining the full scale and continuity of the mineralized envelope,” commented David Grondin, CEO of TomaGold.
A borehole electromagnetic survey meanwhile is currently being conducted on holes conducted under this drill program to guide future drill programs.
Further assay results are expected to be released in January, with those assay results to then be integrated with the electromagnetic data into the current resource model. A planned field exploration program is set to occur in the new year, which will guide phase 2 drilling.
TomaGold last traded at $0.055 on the TSX Venture.
FULL DISCLOSURE: Canacom Group, the parent company of The Deep Dive is long the equity of TomaGold. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
