The survey identifies 14 high priority drill targets for gold and copper
MONTREAL, July 16, 2018 /CNW Telbec/ - TOMAGOLD CORPORATION (TSXV: LOT) ("TomaGold" or the "Corporation") is pleased to report that it has received positive results from the induced polarization geophysical survey ("IP survey") on its Monster Lake East property, which lies next to the Monster Lake joint venture project (currently held by IAMGOLD Corporation (50%), TomaGold (45%) and Quinto Resources Inc. (5% of the Monster Lake claims block)), 50 kilometres southwest of Chibougamau (Québec), Canada.
Through Abitibi Geophysics, TomaGold conducted a detailed IP survey to a depth of 300 metres to explore a large copper geochemical anomaly identified by a government survey. The anomaly was traced over a distance of several kilometres striking approximately 330° to the northwest of Lac Trois-Iles. The report submitted by Abitibi Geophysics recommends drilling 14 high priority gold and copper targets to depths of 100 to 350 metres.
"This is a major development for the Monster Lake East property, which shows interesting gold and copper potential near the Monster Lake project," said David Grondin, President and CEO of TomaGold. "The next phase of work on Monster Lake East will consist of drilling on the high priority targets."
About TomaGold Corporation
TomaGold Corporation is a Canadian mineral exploration company engaged in the acquisition, assessment, exploration and development of gold mineral properties. To optimize its chances of discovery and minimize its exploration risk, TomaGold aims to develop high-grade gold properties with major mining companies. It currently has joint venture agreements with IAMGOLD Corporation for the Monster Lake project, with Goldcorp Inc. for the Sidace Lake property, and with Goldcorp Inc. and New Gold Inc. for the Baird property. TomaGold has interests in six gold properties in northern Quebec: Monster Lake, Winchester, Lac-à-l'Eau-Jaune, Monster Lake East, Obalski and Lac Cavan near the Chibougamau mining camp. It also holds a 39.5% interest in the Sidace Lake property and a 24.5% in the Baird property near the Red Lake mining camp in Ontario. Finally, it has an option to acquire a 70% interest in the Hazeur property, at the southern edge of the Monster Lake group of properties.
The Corporation is also engaged in gold brokerage activities in South America through its subsidiary, TomaSouth Corporation.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. The statements in this news release that are not historical facts are "forward-looking statements". Readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results may vary materially from those described in such "forward-looking" statements.
SOURCE Corporation TomaGold
For further information: David Grondin, President and Chief Executive Officer, (514) 583-3490, www.tomagoldcorp.com