TomaGold Corporation has announced the start of a gyroscopic survey program on deep historic holes at its Obalski project in Quebec to help inform the next phase of drilling, which will begin in mid-November.
The work is being carried out by Géophysique TMC of Val-d'Or on historic holes more than 100 metres (m) deep in a bid to confirm the location of gold-bearing structures at depth.
David Grondin, CEO of TomaGold, explained that results from a Pulse-EM geophysical survey in June this year, coupled with analysis of some historical samples by Corem (a non-profit group, which offers specialized research services to mining companies) have "established that the Obalski property is mainly composed of gold-bearing vein structures and that these structures appear to amplify at depth in the form of veinlets".
"Furthermore, there is a strong possibility that the structures at depth were not properly located, mainly due to the drilling equipment used at the time. Since this property has been explored mainly at surface, we must ensure that our drilling campaign is well oriented, as our main objective is to better understand the mineral potential of Obalski at depth," said the company boss.
READ: TomaGold expands its drill program at Quebec project by 1,500m
Discovered in 1928, the Obalski deposit, 2 kilometres (km) south of Chibougamau, produced 100,273 tons at grades of 1.14% copper, 2.08 grams per ton (g/t) gold and 6.04 g/t silver from the A zone between 1964 to 1972, and around 9,000 tons at a reported grade of 8.5 g/t gold from the D zone in 1984.
In the statement, TomaGold also reminded the market that it received "excellent" drill results from its 2,502m winter 2020–2021 program, reporting several high-grade gold and copper values. These included 47.4 grams per ton (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 0.5m in one hole.
The company said it expects to receive all of its results from the first phase of drilling within the next two weeks, given the re-analysis of certain samples.
TomaGold has interests in five gold properties near the Chibougamau mining camp in northern Quebec. These are Obalski, Monster Lake East, Monster Lake West, Hazeur and Lac Doda.
It is also in joint venture with Evolution Mining Ltd (ASX:EVN) 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 giles@proactiveinvestors.com