TomaGold Provides Corporate Update on Berrigan Mine Drilling, Geophysical Surveys and Regional Sampling Programs

Article content

Rock and Till/Soil Sampling Campaign

Article content

Launched as part of the district-scale prospecting campaign across the Company’s optioned Chibougamau claims (Chibougamau Independent Mines, Globex and SOQUEM property blocks), field crews collected a total of 1,474 rock and soil samples, comprising 936 rock grab samples — 405 at the Berrigan Mine property, 351 at the Gwillim property and 180 at the William property — together with 538 soil samples, collected from numerous historical showings that had never been the subject of rigorous follow-up work. Rock and soil geochemistry is a fast, cost-effective way to test dozens of historical occurrences simultaneously before committing to drilling: it directly measures anomalous base and precious metal content in outcropping rock and near-surface soil horizons, allowing the Company to rank targets by grade and tenor and to prioritize the most compelling showings for follow-up trenching, geophysics or drilling. Status: results pending.Biogeochemical Bark Sampling Campaign Conducted this past winter across select target areas of the Chibougamau property package, the program involved the systematic collection of a total of 735 tree bark samples for biogeochemical analysis. Tree roots draw trace metals from the underlying bedrock and overburden, concentrating a subtle but detectable geochemical signature in bark tissue. Biogeochemical bark sampling is particularly effective in areas of thick glacial overburden, muskeg or limited outcrop exposure – conditions common across parts of the Chibougamau camp – where conventional soil or rock sampling is less reliable. The method is also low-impact and cost-efficient, and winter conditions allowed field crews to access otherwise difficult terrain on snow-covered ground. Results are expected to help vector toward buried mineralization and generate new drill-ready targets in areas with no surface expression. Status: results pending. David Grondin, President and CEO of TomaGold, said: “TomaGold has never had more irons in the fire, and that is exactly where we want to be. Our Phase 2 extension program at Berrigan Mine has already confirmed more than 250 metres of continuity within the Berrigan Deep zone, and we still have three more holes to report. On top of that, we have AMT, UTEM and BHEM geophysical data being processed, and hundreds of rock, soil and bark samples working their way through the laboratory from our regional prospecting programs. Every one of these datasets has the potential to move the story forward, and we look forward to sharing results with shareholders as they become available in the coming weeks.”

Article content

Article content

Jean Lafleur, P.Geo., Vice President of Exploration at TomaGold, added: “What excites me most is how these programs complement one another. The drilling and BHEM data are refining our understanding of the Berrigan Deep conductive plate at depth, while AMT and UTEM extend that structural mineralization picture across the wider district. Meanwhile, our rock, soil and bark sampling programs are systematically testing dozens of historical showings across our consolidated Chibougamau land package. Taken together, this is one of the most comprehensive, multi-method exploration efforts TomaGold has undertaken, and it will generate a strong pipeline of targets for years to come.”

Article content

Next Steps

Article content

Article content

About the Berrigan Mine Project

Article content

The Berrigan Mine property consists of 16 claims totalling 483 hectares located 4 km north-northwest of the town of Chibougamau. TomaGold has an option to acquire 100% of the property from Chibougamau Independent Mines Inc.

Article content

The property has been the subject of more than one historical estimate. Met-Chem Canada Inc. prepared the most recent of these in April 2001 in a report titled: “Pre-feasibility study: Etude Conceptuelle, Projects Berrigan and Tortigny” by Chuinard et al. In the report, a resource estimate completed using polygonal estimation techniques stated 1.39 Mt grading 3.17% Zn and 1.77 g/t Au on the main Berrigan Mine zone. No resource classifications were given for the resource (GM61359).

Article content

The mineral resource estimate presented above is historical in nature and was not prepared in accordance with National Instrument 43-101 standards. Accordingly, the reader is cautioned not to rely on this estimate, as the Company is not treating the estimate as a current mineral resource. The qualified person has not done sufficient work to make the resource current. Substantial data compilation, verification, and, potentially, additional drilling and resampling would be required by a qualified person before the historical estimate could be classified as a current mineral resource. There can be no assurance that any portion of the historical mineral resource will ultimately be confirmed or demonstrated to be economically viable. For further information regarding the Berrigan Mine Project, please consult the press release dated September 13, 2023.

Article content

Article content

Technical Disclosure

Article content

The technical content of this press release has been reviewed by Jean Lafleur, P.Geo., Vice President of Exploration of the Company, and Suzie Tremblay, P.Geo., Vice President of Operations at Explo-Logik Inc. and a consultant to TomaGold, each of whom is a Qualified Person as defined under National Instrument 43-101. Mr. Lafleur has approved the technical content of this press release.

Article content

About TomaGold

Article content

TomaGold Corp. (TSXV: LOT, OTCPK: TOGOF) is a Canadian junior mining company focused on the acquisition, exploration, and development of high-potential precious and base metal projects, with a primary focus on gold and copper in Québec and Ontario. The Company’s core assets are located in the Chibougamau Mining Camp in northern Québec, where it owns the Obalski gold-copper-silver project and holds options to acquire 12 additional properties, including the Berrigan Mine, Brosnan, Radar and Dufault projects. TomaGold also holds a 24.5% joint venture interest in the Baird gold property near the Red Lake Mining Camp in Ontario. In addition, the Company has lithium and rare earth element (REE) projects in the James Bay region, strategically positioned near significant recent discoveries.

Article content

Follow TomaGold:

Article content

YouTube: https://www.youtube.com/@tomagoldcorporation
WhatsApp: https://www.whatsapp.com/channel/0029Vb79qG6LdQeiiErI1e27
LinkedIn: https://www.linkedin.com/company/tomagold-corporation
Facebook: https://www.facebook.com/TomaGoldCorporation
Instagram: https://www.instagram.com/tomagoldcorp
X: https://x.com/tomagoldcorpCautionary Statement on Forward-Looking Information
This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the potential results of exploration, drilling, geophysical and geochemical sampling activities, laboratory turnaround times, continued availability of capital and financing, market prices, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates, opinions, or other factors should change.Neither TSX Venture Exchange nor its Regulations 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.

Article content

Article content

Article content

View source version on businesswire.com:

Article content

Article content

Article content

Contacts

Article content