TomaGold Corp (TSX-V:LOT) said it has wrapped up an induced polarization (IP) survey over the southern portion of its 100%-owned Obalski property near Chibougamau, Quebec.
The Montreal-based firm said it expects to receive the results integrating the December 2021 and May 2022 surveys from Abitibi Geophysics in the coming weeks.
In a statement, TomaGold said that the survey results will provide important data for the next drilling program on Obalski, scheduled for June or July 2022.
READ: TomaGold kicks off induced polarization survey on southern portion of Obalski property in Quebec
Obalski covers 345 hectares around two kilometres south of the town of Chibougamau. Following its discovery in 1928, the Obalski deposit produced 100,273 tonnes 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 tonnes at a reported grade of 8.5 g/t gold from the D zone in 1984.
TomaGold also said it has also granted 3,900,000 stock options under its stock option plan to directors, officers and consultants of the corporation, entitling them to acquire the same number of common shares at a price of $0.10 per share for a period of five years.
TomaGold 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 and New Gold, through which it holds a 24.5% interest in the Baird property, near the Red Lake mining camp in Ontario.
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