TomaGold Corp (CVE:LOT) (OTCMKTS:TOGOF) (FRA:OTM) has reported encouraging preliminary results from drilling at its Obalski property in Quebec, saying the first three holes had hit the target zones.
The company is carrying out a 2,500-metres (m) drill program at the gold, silver, copper project in the Chibougamau mining camp and said the three holes had intersected the A, C, D and A-Po zones.
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"The A-Po Zone is particularly well represented in all three holes with passages of massive sulphides composed of pyrrhotite, pyrite and chalcopyrite, which are generally contained in quartz-carbonate-chlorite veins," TomaGold said in a statement.
One hole hit this zone (A-Po) at a vertical depth of 400m, it noted.
"This zone remains open both vertically and laterally. Geological observations to date show that the A-Po Zone shows a definite potential and supports the need for additional drilling."
The company said 262 samples from the first three holes were sent to the lab and the second part of the three-hole drill program started this week.
It added that it plans to conduct some drilling on Monster Lake East once the work on Obalski is completed.
"A forest intervention permit was filed this week with the MERN for work to be carried out before mid-April. The Corporation also plans to conduct a low-level Mag survey on Monster Lake West. The survey will be flown with lines spaced at 50-metre intervals at an average altitude of 20 metres above ground level for a total of 235 km," the company said.
Obalski covers 345 hectares, which includes a 33-hectares mineral concession.
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 Au from the D zone in 1984.
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