The survey identifies 14 high priority drill targets for gold
and copper
MONTREAL, July 16, 2018 /CNW Telbec/ - TOMAGOLD
CORPORATION (TSXV: LOT) ("TomaGold" or the "Corporation")
is pleased to report that it has received positive results from the
induced polarization geophysical survey ("IP survey") on its
Monster Lake East property, which lies next to the Monster Lake
joint venture project (currently held by IAMGOLD Corporation (50%),
TomaGold (45%) and Quinto Resources Inc. (5% of the Monster Lake
claims block)), 50 kilometres southwest of Chibougamau (Québec), Canada.
Through Abitibi Geophysics, TomaGold conducted a detailed IP
survey to a depth of 300 metres to explore a large copper
geochemical anomaly identified by a government survey. The anomaly
was traced over a distance of several kilometres striking
approximately 330° to the northwest of Lac Trois-Iles. The report
submitted by Abitibi Geophysics recommends drilling 14 high
priority gold and copper targets to depths of 100 to 350
metres.
"This is a major development for the Monster Lake East property,
which shows interesting gold and copper potential near the Monster
Lake project," said David Grondin,
President and CEO of TomaGold. "The next phase of work on Monster
Lake East will consist of drilling on the high priority
targets."
About TomaGold Corporation
TomaGold Corporation is a
Canadian mineral exploration company engaged in the acquisition,
assessment, exploration and development of gold mineral properties.
To optimize its chances of discovery and minimize its exploration
risk, TomaGold aims to develop high-grade gold properties with
major mining companies. It currently has joint venture agreements
with IAMGOLD Corporation for the Monster Lake project, with
Goldcorp Inc. for the Sidace Lake property, and with Goldcorp Inc.
and New Gold Inc. for the Baird property. TomaGold has interests in
six gold properties in northern Quebec: Monster Lake, Winchester,
Lac-à-l'Eau-Jaune, Monster Lake East, Obalski and Lac Cavan near
the Chibougamau mining camp. It
also holds a 39.5% interest in the Sidace Lake property and a 24.5%
in the Baird property near the Red
Lake mining camp in Ontario. Finally, it has an option to acquire
a 70% interest in the Hazeur property, at the southern edge of the
Monster Lake group of properties.
The Corporation is also engaged in gold brokerage activities in
South America through its
subsidiary, TomaSouth Corporation.
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. The statements in this news release
that are not historical facts are "forward-looking statements".
Readers are cautioned that any such statements are not guarantees
of future performance, and that actual developments or results may
vary materially from those described in such "forward-looking"
statements.
SOURCE Corporation TomaGold
