TomaGold Corp. [LOT-TSXV] reported initial results from the first phase of its 11,500-metre drilling program that began on July 10, 2021, on its 100%-owned Obalski property in Chibougamau, Quebec. The first phase of drilling consists of 14 holes for 4,751 metres and a 263-metre wedge hole. Assays are pending for the last three holes.
Drill highlights include several large intersections including Hole OBS-21-009 that returned 1.41 g/t gold over 28.50 metres, including 6.84 g/t gold over 1.50 metres and 4.03 g/t gold over 4.50 metres. Hole OBS-21-010A returned 0.33 g/t gold over 54.80 metres, including 1.44 g/t gold over 3.50 metres. Hole OBS-21-010 returned 0.32 g/t gold over 45.95 metres. Hole OBS-21-012 returned 0.39 g/t gold over 27.50 metres. Hole OBS-21-007 returned 0.43 g/t gold over 20.75 metres.
Results are awaited for holes OBS-21-013 to OBS-21-015, which are being reanalyzed which will complete this first phase of drilling. TomaGold has undertaken an extensive gyroscopic survey program on the historical holes to confirm the location of the gold-bearing structures at depth. Phase 2 of drilling scheduled to begin in mid-November.
David Grondin, president and CEO, stated, “During this first round of drilling we discovered much larger gold structures than were previously known. Furthermore, these structures appear to be widening at depth. As is the case with many deposits in the Chibougamau mining camp, Obalski appears to have excellent potential at depth, as very few holes over 300 m long have been drilled on this property.
“Our next round of drilling, combined with the gyroscopic survey results, will allow us to better understand the mineral potential of Obalski at depth. This phase of work took place on sections 120+00 E, 150+00 E, 200+00 E and 250+00 E and follows the 2,502-metre winter 2020 to 2021 program, which intersected several high-grade gold and copper values, including 47.4 g/t gold, 87.6 g/t silver and 7.06% copper over 1.1 metres and 67.1 g/t gold, 40.1 g/t silver and 2.32% copper over 0.5 metres in hole OBS-20-002; 12.45 g/t gold, 17.7 g/t silver and 0.53% copper over 0.65 metres in hole OBS-20-001; and 23.7 g/t gold and 24.5 g/t silver over 0.5 metres in hole OBS-21-005.”
The 345-hectare Obalski property is about 2 km south of Chibougamau. Discovered in 1928, the Obalski deposit produced 100,273 tonnes at grades of 1.14% copper, 2.08 g/t gold and 6.04 g/t silver from the A zone between 1964 to 1972, and around 9,000 tonnes at a reported grade of 8.5 g/t gold from the D zone in 1984.