Tomagold Corporation (CVE:LOT) has reported the initial results of its 2,502-metre drilling program on its wholly-owned Obalski property, in Chibougamau, Quebec, with the highlight being a hole showing 1.1 metres (m) at 47.4 grams per ton (g/t) gold and 7.06% copper.
“These are great results for our first three holes on Obalski, as they show that the property hosts high gold, silver and copper grades, warranting a larger drilling program to define its potential,” said David Grondin, president and CEO of TomaGold in a statement.
“Once we have the additional input from the three holes drilled on section 120 E, we’ll prepare a follow-up 10,000-metre diamond drilling program that we will start in the spring. The new program could yield some very interesting results, as our technical team will focus on targets both along strike and at depth that appear to have been overlooked by the previous owners,” he added.
READ: TomaGold encouraged by initial drilling at Obalski project in Quebec
The company noted that drilling began in December 2020 and ended on February 18, 2021. The program consisted of seven holes, six of which were drilled on two separate sections (450 E and 120 E), while the seventh hole was designed to test the rock type at the eastern property boundary.
The goal of the program was to better define the A-Po Zone on sections 450 E and 120 E, located 330 metres apart, with very little exploration work in between. Drilling was also aimed at intersecting the A, C and D zones, some of which have already been mined underground and the subject of minor surface work.
The Obalski property, which covers 345 hectares, including a 33-hectare mineral concession, lies about 2 kilometres south of Chibougamau, Quebec. 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 (Source: SIGEOM and Camchib Exploration internal reports).
TomaGold is a Canadian mineral exploration corporation engaged in the acquisition, assessment, exploration and development of gold mineral properties. the company has interests in five gold properties near the Chibougamau mining camp in northern Quebec: Obalski, Monster Lake East, Monster Lake West, Hazeur and Lac Doda.
It also participates in a joint venture with Evolution Mining Ltd. and New Gold Inc., through which it holds a 24.5% interest in the Baird property, near the Red Lake mining camp in Ontario.
Contact the author at jon.hopkins@proactiveinvestors.com