Press release from Marketwire
TomaGold Launches 10,000 Metre Drilling Program at Monster Lake
Wednesday, June 27, 2012
MONTREAL, QUEBEC--(Marketwire - June 27, 2012) - TomaGold Corporation (TSX VENTURE:LOT) ("TomaGold" or the "Company") is pleased to report that it has launched a 10,000-metre drilling program at its Monster Lake project near Chibougamau, Quebec.
The program will target the Annie gold-bearing structure, where the Company announced a major discovery of 237.6 g/t gold over 5.7 metres in Hole M-12-60, and will test the structure along strike and at depth. The Company will do definition drilling on the structure on lateral and vertical 50-metre drill grids to a vertical depth of 200 metres. The results from some 40 stripped sites and old drill holes have been mapped and compiled, and will provide valuable information that can be used to optimize the orientation of this drill program.
David Grondin, President and Chief Executive Officer of TomaGold, said that: "This large drilling program is an indication of how confident we are in the gold potential of Monster Lake. Our confidence is based on the compilation of 26,719 metres drilled at Monster Lake before we acquired the property, as well as the recent major discovery of 237.6 g/t gold over 5.7 metres in Hole M-12-60. Our immediate goal is to define Monster Lake's gold potential and establish a resource estimate by the end of 2012."
The following table shows the most interesting results from drilling and channel sampling on the Annie, Mégane-325, Eratix and Zone 52 structures.
|Hole||g/t Au||Length (m)|
|Hole||g/t Au||Length (m)|
|Hole/channel sample||g/t Au||Length (m)|
|Zone 52 Structure|
|Hole||g/t Au||Longueur (m)|
ABOUT THE MONSTER LAKE PROJECT
The Monster Lake property is located 44 kilometres southwest of the town of Chibougamau in northwestern Quebec. It is easily accessible by road and has a major power line nearby. From 1984 to 1995, SOQUEM completed nearly 20,000 metres of diamond drilling in 142 holes and excavated several trenches along the 4 kilometre-long mineralized corridor. Before Stellar Pacific Ventures Inc. ("Stellar") began drilling, there were more than 45 intersections of greater than 1 g/t Au from drill core or channel samples. The three principal showings, Eratix, Mégane 325 and Zone 52, have been drilled at 50 metre intervals and to a depth of 125 metres, but for the most part with only one hole per section, leaving several mineralized intersections wide open, along strike and at depth.
TomaGold recently acquired the Monster Lake property from Stellar, along with two other gold projects (Urban and Vassan). Over the past two years, Stellar drilled 46 diamond drill holes (5,235 metres) on gold-bearing structures defined along the 4 kilometre-long NNE striking mineralized corridor. During the winter of 2012, TomaGold drilled 16 additional holes for a total of 2,420 metres. The mineralization is associated with dark quartz-sulphide veins within a shear zone ranging from 3 to 10 metres in width in basaltic units.
ABOUT TOMAGOLD CORPORATION
TomaGold Corporation is a Canadian-based mining exploration company whose primary mission is the acquisition, exploration and development of gold projects in Canada and abroad.
The technical content of this press release has been reviewed and approved by Maurice Giroux, a qualified person as defined by NI 43-101.
For a complete list of drill results from the Monster Lake project, please visit our website at www.tomagoldcorp.com
FOR FURTHER INFORMATION PLEASE CONTACT:
David Grondin TomaGold Corporation President and CEO (514) 206-7727
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.