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TomaGold Offers Update on Drilling Program on its 100% Owned Obalski Property

TOMAGOLD CORPORATION has come up with an update about the drilling program on its 100% owned Obalski property, which is situated 3 km to the south of Chibougamau.

TomaGold Offers Update on Drilling Program on its 100% Owned Obalski Property.

Image Credit: Jaromir Chalabala

The program commenced on July 10th, 2021, and has been widened from 10,000 to 11,500 m of drilling after the re-evaluation of the drill targets. Drilling has been stopped for now and will resume in October.

Eight holes and two hole extensions had been drilled as of September 6th, 2021, totally encompassing 4,693 m. In total, 751 samples have been gathered and sent to the ALS Global laboratory in Val-d'Or for analysis, of which 135 will be analyzed by both fire assay and cyanidation for comparing and validating whether there is a major difference between the two analytical methods for the minerals found on the Obalski property.

The existing program includes the ongoing exploration of the A-Po Zone on sections spaced every 50 m between sections 120+00 E and 450+00 E, at vertical depths varying from 300 to 500 m.

On a majority of the sections, three typical holes have been drilled at the same site: a 485 m hole at −50°, a 560 m hole at −58°, and a 650 m hole at −68°. On three sections, three 1,000 m holes have also been added at −70° to test the same target at a vertical depth of 850 m; these holes will be drilled toward the end of the program.

So far, drilling has been finished on sections 120+00 E, 150+00 E, 200+00 E, and 250+00 E. The program is only in its early stages, but the A-Po Zone has already been intersected in various locations.

Visual observations indicate a zone of reasonable thickness, mostly over 10 m, where some of the intersections are mineralized in sulfides across a length of over 20 m. TomaGold has also intersected the A, B and C mineralized zones, already known and partially mined in the past. In general, these zones are less than 1 m thick.

TomaGold achieved superior drill results from its 2,502 m winter 2020–2021 program, with a number of high-grade gold and copper values, including 47.4 g/t Au, 87.6 g/t Ag, and 7.06% Cu across 1.1 m and 67.1 g/t Au, 40.1 g/t Ag and 2.32% Cu across 0.5 m in hole OBS-20-002; 12.45 g/t Au, 17.7 g/t Ag, and 0.53% Cu across 0.65 m in hole OBS-20-001; and 23.7 g/t Au, and 24.5 g/t Ag across 0.5 m in hole OBS-21-005.

André Jean, P.Eng., Director of Exploration at TomaGold and a qualified person under National Instrument 43-101 reviewed and approved the technical content presented here.

About the Obalski Property

The Obalski property encompasses 345 hectares and is located nearly 2 km to the south of Chibougamau, Quebec. The Obalski deposit was found in 1928 and produced 100,273 tonnes at grades of 1.14% Cu, 2.08 g/t Au, and 6.04 g/t Ag from the A zone from 1964 to 1972, and about 9,000 tonnes at a reported grade of 8.5 g/t Au from the D zone in 1984.

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