TomaGold Corporation has revealed the final Phase I drill results from its Obalski property in Quebec, which uncovered both large and high-grade intersections.
Results from the final three holes included 3.20 metres (m) grading 23.78 grams per ton (g/t) gold, 16.55 g/t silver and 1% copper, including 0.45m at 167.50 g/t gold, 112 g/t silver and 6.08% copper.
Other intersections reported revealed 1.40m at 0.76 g/t gold, 2.10 g/t silver and 0.14% copper, and 8.9m at 0.62 g/t gold and 0.12 g/t silver.
READ: TomaGold reveals first set of drill results from Phase I program at Obalski that show "excellent potential at depth"
TomaGold is planning to drill up to 11,500m at Obalski, which is located in Chibougamau. Phase I included 15 holes totaling 7,253m.
The company is progressing to Phase II immediately, according to CEO David Grondin.
“While the Obalski property has historically returned high-grade results from near surface, with this program we focused on identifying mineralization at depth,” said Grondin in a statement.
“I am pleased to report that our first phase of drilling at depth has been a real success, with the discovery of large, low-grade intersections combined with shorter, high-grade intersections. Based on the results, we have significantly upgraded our assessment of Obalski's mineral potential.”
Grondin told shareholders that Phase II will continue drilling at depth, on sections 300+00 E, 350+00 E, 400+00 E and finally 450+00 E.
“To optimize phase II of the program, we will combine the phase I results with the results of gyroscopic surveys currently being conducted in historical holes,” the CEO added.
The Obalski property covers 345 hectares nearly two kilometres south of Chibougamau. The deposit historically 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 and 1972, and around 9,000 tonnes at a reported grade of 8.5 g/t gold from the D zone in 1984.
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