TOMAGOLD CORPORATION ("TomaGold" or the "Corporation") is pleased to provide an update of IAMGOLD Corporation's ("IAMGOLD") drilling plans for the Monster Lake project in 2017. The Monster Lake project (IAMGOLD 50%/TomaGold 45%) is located 50 kilometres southwest of Chibougamau (Quebec), Canada.
The drilling program will start this week and will consist of approximately 8,000 metres. This particular drilling program is designed to target high potential areas along the 3-kilometre trend of the Monster Lake Shear Zone ("MLSZ") and associated structures to verify few known zones of mineralization already intersected in specific areas, including the possible second zone along the main hosting structure MLSZ located 200 to 400 metres to the north of the 325-Megane Zone. Structural patterns indicate the possibility of new ore shoots along this major corridor. Drilling will focus on five main areas:
- The Main and Lower Zones SW of the 325-Megane Zone.
- The Main and Lower Zones NE of the 325-Megane Zone.
- Big Mama E-W structure.
- Infill holes at 325-Megane Ore Shoot.
- Investigative holes around anomalous drill holes close to Annie zoneZ
"We are pleased and eager to start this next phase of drilling as it will target high potential areas at Monster Lake," said David Grondin, President and CEO of TomaGold. "We are still convinced that Monster Lake holds a strong discovery potential and IAMGOLD is the perfect partner to unlock its value."
The technical content of this press release has been reviewed and approved by André Jean, Eng., a qualified person as defined by National Instrument 43-101.