TomaGold Initiates Major Phase 2 Program at Berrigan Mine to Test Berrigan Deep Potential Through Extension Drilling and 4 km by 2 km Deep Geophysical Survey
MWN-AI** Summary
TomaGold Corporation (TSXV: LOT; OTCPK: TOGOF) has announced a significant Phase 2 exploration program at its Berrigan Mine project in Québec's Chibougamau Mining Camp. This initiative aims to further investigate the potential of the recently identified Berrigan Deep zone through a combination of extension drilling and an extensive geophysical survey.
The Phase 2 program builds on promising results from the initial drilling campaign, particularly hole TOM-25-015, which returned an impressive 5.08% ZnEq over 98.5 meters. BHEM (borehole electromagnetic) analyses have revealed that previous drilling did not sufficiently penetrate to test certain targeted conductive zones, prompting TomaGold to prepare for the extension of five drill holes (TOM-25-009 to TOM-25-013). This new drilling is set to explore the depths of the Berrigan Deep zone more thoroughly.
Complementing this, a large-scale surface geophysical survey will extend over 4 km and analyze depths up to 2 km, aiming to identify additional conductive targets similar to Berrigan Deep. TomaGold’s CEO, David Grondin, expressed optimism about the expansion of mineralization, suggesting that targeting these conductive plates may significantly enhance the understanding of the resource potential at the site.
The company is actively mobilizing resources to execute these strategies in the upcoming weeks, with the goal of refining targets and maximizing the potential of the Berrigan Mine. Overall, this ambitious exploration initiative marks a critical step forward in TomaGold's efforts to tap into the mineral wealth of its current holdings, particularly in light of the encourage findings from initial drilling activities.
MWN-AI** Analysis
TomaGold Corporation's launch of a major Phase 2 exploration program at the Berrigan Mine represents a pivotal opportunity for investors. The new drilling initiative is designed to target the promising "Berrigan Deep" zone, which has already shown significant potential through previous findings, including impressive grades of up to 24.85% ZnEq. This highlights TomaGold’s commitment not only to confirming current mineralization but also to expanding it, aiming to reach deeper levels.
The strategic decision to extend drill holes TOM-25-009 through TOM-25-013, as well as conduct a comprehensive electromagnetic survey over 4 km targeting depths of up to 2 km, underscores the company’s proactive approach to resource exploration. By leveraging advanced geophysical modeling, TomaGold aims to refine its drilling strategy and enhance the likelihood of identifying additional conductive zones similar to the Berrigan Deep.
Given the historical performance of the Berrigan mine and the positive results from recent drilling, TomaGold's stock (TSXV: LOT; OTCPK: TOGOF) could be a compelling buy for investors watching the resource sector. The upcoming drilling results will be crucial—should they confirm additional high-grade mineralization, it could lead to a significant revaluation of the company's assets.
However, potential investors should approach with caution. Market volatility, fluctuating commodity prices, and the inherent risks associated with exploration can impact returns. It is advisable to monitor industry trends closely, particularly in zinc and gold markets, as these metals’ prices can drive mining equities.
In summary, TomaGold’s Phase 2 program at the Berrigan Mine may offer a lucrative investment opportunity, but stakeholders should remain vigilant of the broader market dynamics impacting mineral exploration companies.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Highlights
- New borehole electromagnetic (BHEM) imaging , combined with Phase 1 drilling results at Berrigan Mine, including TOM-25-015 returning 5.08% ZnEq (1.19 g/t AuEq) over 98.5 m and TOM-25-014 returning 24.85% ZnEq (5.83 g/t AuEq) over 2.1 m , demonstrates compelling potential to expand mineralization at depth with the discovery of Berrigan Deep.
- The Company is preparing an extension drilling program set to commence in the coming weeks, which will include five drill hole extensions (TOM-25-009 to TOM-25-013), after geophysical modeling confirmed that the original holes were too short and failed to test the targeted conductive plates at depth.
- The Company will also conduct a large-scale surface geophysical survey spanning 4 km and targeting depths of up to 2 km. The results will refine drill targeting and strategically guide subsequent drilling programs.
TOMAGOLD CORPORATION (TSXV: LOT; OTCPK: TOGOF) (“ TomaGold ” or the “ Company ”) is pleased to announce that it will undertake a major Phase 2 exploration program at its Berrigan Mine project, located in the Chibougamau Mining Camp, Québec.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260303741702/en/
Figure 1 - Longitudinal view of the Phase 2 extension drilling program at Berrigan Mine: 3D longitudinal section showing drill holes TOM-25-009 to TOM-25-013 (with TOM-25-009 and TOM-25-010 located between TOM-25-011 and TOM-25-014) and their planned extensions (blue lines) targeting the modeled conductive plate at depth, along with significant intersections from holes TOM-25-014 and TOM-25-015 within the Berrigan Deep zone.
Phase 2 builds on drill results from holes TOM-25-009 through TOM-25-015, together with the borehole electromagnetic (BHEM) survey completed in hole TOM-25-013, which collectively led to the discovery of the Berrigan Deep zone at depth. The latest drill holes (TOM-25-011 to TOM-25-013) clearly demonstrated that the completed hole lengths were insufficient to adequately test the modeled conductive targets at depth.
In the coming weeks, TomaGold will launch Phase 2 of its drilling program, which will include five extension holes on previously completed drill holes TOM-25-009 through TOM-25-013 to further evaluate the Berrigan Deep zone at depth (see Figures 1 and 2). Additional exploration drilling will also be carried out to test new targets generated from ongoing geological and geophysical modeling. In parallel, the Company will undertake a large-scale surface electromagnetic survey spanning 4 km and targeting depths of up to 2 km. The objective of the survey is to identify additional conductive targets analogous to Berrigan Deep and to generate new high-priority targets with strong discovery potential.
David Grondin, President and CEO of TomaGold, stated: “Although drill holes TOM-25-011 to TOM-25-013 intersected mineralization, including 16.12% ZnEq (3.77 g/t AuEq) over 2.0 m in hole TOM-25-011 , geophysical data clearly indicate that drilling stopped short in certain areas. By extending these holes, we aim to reach the core of the modeled conductive plates, which could significantly increase the volume of identified mineralization — similar to what was achieved with the discovery of Berrigan Deep in drill hole TOM-25-015.”
Jean Lafleur, P.Geo., VP Exploration at TomaGold, added: “Now that all results have been received and compiled, we have a clearer understanding of both the Main Zone and the newly identified Berrigan Deep zone, which represent two distinct parallel zones. Conductive plates identified through the BHEM survey indicate, at this stage, that Berrigan Deep may have greater expansion potential. Our upcoming drilling campaign will aim to demonstrate the extent of this zone in all directions. Initial drilling will focus on extending holes TOM-25-009 through TOM-25-013, which is expected to establish lateral continuity over more than 250 metres. We will also initiate a surface electromagnetic (EM) survey covering 4 km and designed to investigate to depths of up to 2 km to expand the known conductive plates and identify additional EM targets. All drill holes will systematically be surveyed using BHEM to optimize modeling and deep targeting.”
Table 1: Phase 1 drilling results at the Berrigan Mine project
The Company has elected to report the full set of results, including zinc equivalent (“ZnEq”) and gold equivalent (“AuEq”) grades, as these values provide a more representative measure of the total metal content within the mineralized intervals intersected.
Hole ID | From (m) | To (m) | Length (m) | ZnEq (%) | AuEq (g/t) | Au (g/t) | Ag (g/t) | Cu (%) | Zn (%) | |||||||||
TOM-25-009 | 156.70 | 204.75 | 48.05 | 5.82 | 1.36 | 1.12 | 7.55 | 0.04 | 1.40 | |||||||||
including | 156.70 | 159.60 | 2.90 | 33.97 | 7.96 | 6.76 | 40.24 | 0.19 | 7.57 | |||||||||
including | 163.95 | 169.00 | 5.05 | 3.42 | 0.80 | 0.41 | 11.35 | 0.03 | 1.43 | |||||||||
including | 181.70 | 182.90 | 1.20 | 12.25 | 2.87 | 2.36 | 19.50 | 0.03 | 2.89 | |||||||||
including | 189.20 | 194.60 | 5.40 | 19.07 | 4.47 | 3.75 | 16.35 | 0.08 | 4.81 | |||||||||
including | 196.00 | 198.60 | 2.60 | 2.06 | 0.49 | 0.43 | 5.28 | 0.06 | 0.11 | |||||||||
including | 204.00 | 204.70 | 0.70 | 37.71 | 8.85 | 8.71 | 9.20 | 0.05 | 6.01 | |||||||||
230.35 | 236.80 | 6.45 | 1.23 | 0.29 | 0.14 | 1.23 | 0.03 | 0.67 | ||||||||||
including | 235.70 | 236.80 | 1.10 | 5.00 | 1.17 | 0.72 | 2.80 | 0.04 | 2.27 | |||||||||
244.50 | 259.70 | 15.20 | 4.87 | 1.14 | 0.59 | 7.22 | 0.04 | 2.40 | ||||||||||
including | 254.60 | 257.15 | 2.55 | 22.75 | 5.29 | 2.24 | 32.07 | 0.15 | 13.42 | |||||||||
TOM-25-010 | 108.00 | 111.00 | 3.00 | 2.18 | 0.51 | 0.51 | 1.53 | 0.02 | 0.23 | |||||||||
120.65 | 125.00 | 4.35 | 8.03 | 1.87 | 0.95 | 9.11 | 0.05 | 4.26 | ||||||||||
including | 121.95 | 125.00 | 3.05 | 8.30 | 1.93 | 0.84 | 10.56 | 0.06 | 4.86 | |||||||||
130.70 | 179.00 | 48.30 | 2.38 | 0.56 | 0.30 | 4.11 | 0.04 | 1.06 | ||||||||||
including | 135.75 | 142.00 | 6.25 | 11.43 | 2.66 | 1.63 | 16.13 | 0.09 | 4.79 | |||||||||
including | 144.80 | 149.00 | 4.20 | 2.01 | 0.47 | 0.12 | 4.68 | 0.04 | 1.31 | |||||||||
including | 158.30 | 159.35 | 1.05 | 3.73 | 0.87 | 0.16 | 5.93 | 0.10 | 2.73 | |||||||||
including | 175.50 | 177.70 | 2.20 | 4.11 | 0.96 | 0.79 | 3.57 | 0.04 | 1.04 | |||||||||
TOM-25-011 | 291.00 | 309.50 | 18.50 | 1.81 | 0.42 | 0.31 | 1.97 | 0.01 | 0.60 | |||||||||
including | 295.90 | 296.40 | 0.50 | 4.83 | 1.12 | 0.42 | 5.40 | 0.04 | 3.10 | |||||||||
including | 307.50 | 309.50 | 2.00 | 16.12 | 3.77 | 2.63 | 9.47 | 0.05 | 4.30 | |||||||||
341.00 | 342.00 | 1.00 | 2.83 | 0.65 | 0.07 | 1.00 | 0.02 | 2.59 | ||||||||||
344.10 | 345.00 | 0.90 | 4.69 | 1.09 | 0.39 | 3.50 | 0.04 | 3.16 | ||||||||||
TOM-25-012 | 283.85 | 285.00 | 1.15 | 5.51 | 1.31 | 0.71 | 4.10 | 0.88 | 0.02 | |||||||||
TOM-25-013 | No significant value | |||||||||||||||||
TOM-25-014 | 185.00 | 187.10 | 2.10 | 24.85 | 5.83 | 4.94 | 56.44 | 0.05 | 4.55 | |||||||||
238.70 | 239.85 | 1.15 | 20.86 | 4.86 | 2.63 | 22.20 | 0.16 | 10.40 | ||||||||||
251.20 | 252.60 | 1.40 | 36.34 | 8.51 | 7.44 | 37.30 | 0.06 | 8.04 | ||||||||||
405.30 | 406.70 | 1.40 | 13.68 | 3.17 | 1.13 | 13.15 | 0.07 | 9.25 | ||||||||||
423.30 | 426.30 | 3.00 | 2.15 | 0.50 | 0.07 | 5.45 | 0.05 | 1.57 | ||||||||||
451.50 | 457.50 | 6.00 | 1.22 | 0.28 | 0.08 | 3.45 | 0.01 | 0.79 | ||||||||||
TOM-25-015 | 132.55 | 141.00 | 8.45 | 3.73 | 0.87 | 0.51 | 5.51 | 0.03 | 1.66 | |||||||||
155.70 | 157.70 | 2.00 | 28.08 | 6.56 | 4.66 | 26.90 | 0.07 | 10.29 | ||||||||||
182.10 | 202.20 | 20.10 | 2.20 | 0.51 | 0.36 | 3.20 | 0.03 | 0.77 | ||||||||||
451.20 | 549.70 | 98.50 | 5.08 | 1.19 | 0.82 | 3.21 | 0.04 | 1.98 | ||||||||||
including | 452.20 | 457.10 | 4.90 | 23.20 | 5.44 | 4.69 | 18.80 | 0.29 | 4.79 | |||||||||
and including | 500.35 | 549.70 | 49.35 | 6.46 | 1.51 | 0.90 | 3.48 | 0.03 | 3.13 | |||||||||
including | 521.00 | 535.60 | 14.60 | 9.07 | 2.11 | 1.34 | 5.91 | 0.04 | 4.12 | |||||||||
including | 537.85 | 541.10 | 3.25 | 9.00 | 2.09 | 0.88 | 3.85 | 0.05 | 5.82 | |||||||||
including | 542.00 | 548.20 | 6.20 | 13.39 | 3.12 | 1.63 | 5.26 | 0.05 | 7.43 |
Notes:
- The reported widths represent core lengths. True width is estimated to be approximately 80-85% of the core length, depending on the deviation angles.
- ZnEq and AuEq are calculated using the Company’s standard parameters.
- AuEq calculation was based on US$4,150/oz Au, $51.34/oz Ag, US$5.023/lb Cu and $1.392/lb Zn. AuEq = Au g/t + (Ag g/t × 0.01237) + (Cu ppm × 0.000083) + (Zn ppm × 0.000023), applying metallurgical recovery factors of 95% for zinc, 85% for gold and silver, and 90% for copper, based on a metallurgical report on Berrigan Mine zinc material prepared by Process Research Associates Ltd. in February 2002 and on recoveries from nearby deposits for gold, silver and copper.
- ZnEq calculation was based on US$4,047/oz Au, $50.22/oz Ag, US$4.796/lb Cu and $1.390/lb Zn. ZnEq = Zn ppm + (Ag g/t × 527) + (Au g/t x 42466) + (Cu ppm × 3.45) / 10,000, applying metallurgical recovery factors of 95% for zinc, 85% for gold and silver, and 90% for copper, based on a metallurgical report on Berrigan Mine zinc material prepared by Process Research Associates Ltd. in February 2002 and on recoveries from nearby deposits for gold, silver and copper.
Table 2: Berrigan Mine Drill Hole Collars
Hold ID | Azimuth | Dip | Length | UTM - East | UTM - North | Elevation | ||||||
TOM-25-009 | 129.70 | -55.40 | 276 | 542370 | 5532596 | 395 | ||||||
TOM-25-010 | 130.01 | -55.05 | 252 | 542419 | 5532647 | 392 | ||||||
TOM-25-011 | 130.49 | -55.03 | 417 | 542320 | 5532728 | 390 | ||||||
TOM-25-012 | 130.32 | -60.04 | 408 | 542410 | 5532750 | 390.1 | ||||||
TOM-25-013 | 180.34 | -55.49 | 453 | 542410 | 5532750 | 390 | ||||||
TOM-25-014 | 180.42 | -49.56 | 630 | 542419 | 5532647 | 392 | ||||||
TOM-25-015 | 175.82 | -66.35 | 659 | 542419 | 5532647 | 392 |
Drill Hole TOM-25-011
TOM-25-011 intersected multiple zones of interest, including 16.12% ZnEq (3.77 g/t AuEq) over 2.0 m , confirming that the hydrothermal system is extensive and hosts significant sulphide lenses. The hole cut alternating sequences of peridotite and pyroxenite. Mineralization occurs as massive to semi-massive stringers of pyrrhotite and sphalerite (locally up to 20%), associated with intense carbonate, talc, and tremolite alteration. The 18.50 m intersection highlights the width of the mineralized halo, while shorter intervals confirm the presence of high-grade gold and zinc lenses within the broader system.
Drill Holes TOM-25-012 and TOM-25-013
Although these holes returned more modest grades ( 5.51% ZnEq (1.31 g/t AuEq) over 1.15 m in TOM-25-012 ), they intersected banded and brecciated shear zones characterized by strong hydrothermal alteration. These indicators, together with a nearby 1,900 S BHEM conductive plate, suggest that the holes may have skirted the margins of a semi-massive to massive sulphide lens potentially linked to the multiple lenses of the Main Zone at Berrigan Mine.
Next Steps
The Company is currently mobilizing its resources to:
- Extend drill holes TOM-25-009 through TOM-25-013 to test the depth vectors identified by the BHEM survey.
- Drill three additional holes to test the extensions of the massive BER-14C conductive plate.
- Conduct a low-frequency surface EM survey to better define the lateral extent of the system.
About the Berrigan Mine Project
The Berrigan Mine property consists of 16 claims totalling 483 hectares located 4 km north-northwest of the town of Chibougamau. TomaGold has an option to acquire 100% of the property from Chibougamau Independent Mines Inc.
The property has been the subject of more than one historical estimate. Met-Chem Canada Inc. prepared the most recent of these in April 2001 in a report titled: “Pre-feasibility study: Etude Conceptuelle, Projects Berrigan and Tortigny” by Chuinard et al. In the report, a resource estimate completed using polygonal estimation techniques stated 1.39 Mt grading 3.17% Zn and 1.77 g/t Au on the main Berrigan Mine zone. No resource classifications were given for the resource (GM61359).
The mineral resource estimate presented above is historical in nature and was not prepared in accordance with National Instrument 43-101 standards. Accordingly, the reader is cautioned not to rely on this estimate, as the Company is not treating the estimate as a current mineral resource. The qualified person has not done sufficient work to make the resource current. Substantial data compilation, verification, and, potentially, additional drilling and resampling would be required by a qualified person before the historical estimate could be classified as a current mineral resource. There can be no assurance that any portion of the historical mineral resource will ultimately be confirmed or demonstrated to be economically viable. For further information regarding the Berrigan Mine Project, please consult the press release dated September 13, 2023 .
Technical Disclosure
The drilling program was managed by Explo-Logik of Val-d’Or, Québec. Drill core was split in half, with one half submitted to AGAT Laboratories at Val-d’Or for analysis. Gold was analyzed by fire assay (50 g) with atomic absorption finish, while base metals were analyzed by four-acid digestion with ICP-OES finish. Samples with gold grades greater than 10 g/t are reprocessed using metallic screening with a 106 µm cutoff. The processed material is split and analyzed by fire assay with ICP-OES finish to extinction. A separate split is prepared to independently analyze mineralized intervals with a target grade greater than 1.00% Cu-Zn using a Na?O? fusion with ICP-OES or ICP-MS finish. Sample preparation duplicates, certified reference standards, and blanks are inserted into the sample stream.
The technical content of this press release has been reviewed and approved by Jean Lafleur, P.Geo., Vice President of Exploration of the Company, and Suzie Tremblay, P.Geo., Vice President of Operations at Explo-Logik Inc. and a consultant to TomaGold, each acting as a Qualified Person under National Instrument 43-101.
About TomaGold
TomaGold Corp. (TSXV: LOT, OTCPK: TOGOF) is a Canadian junior mining company focused on the acquisition, exploration, and development of high-potential precious and base metal projects, with a primary focus on gold and copper in Québec and Ontario. The Company’s core assets are located in the Chibougamau Mining Camp in northern Québec, where it owns the Obalski gold-copper-silver project and holds options to acquire 12 additional properties, including the Berrigan Mine, Brosnan, Radar and Dufault projects. TomaGold also holds a 24.5% joint venture interest in the Baird gold property near the Red Lake Mining Camp in Ontario. In addition, the Company has lithium and rare earth element (REE) projects in the James Bay region, strategically positioned near significant recent discoveries.
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Cautionary Statement on Forward-Looking Information
This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the potential results of exploration and drilling activities, market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates, opinions, or other factors should change.
Neither TSX Venture Exchange nor its Regulations 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260303741702/en/
David Grondin
President and Chief Executive Officer
(514) 583-3490
www.tomagoldcorp.com
FAQ**
What are the implications of the drilling results at the Berrigan Mine for the future prospects of Tomagold Corp Cl A Ord TOGOF in terms of mineral resource growth and potential investment returns?
How does Tomagold Corp Cl A Ord TOGOF plan to finance the upcoming Phase 2 exploration program at Berrigan Mine, and what are the expected costs associated with extending the drill holes and conducting the surface EM survey?
Given the recent discovery of the Berrigan Deep zone, what strategies does Tomagold Corp Cl A Ord TOGOF have in place for effectively interpreting geophysical data to optimize further exploration efforts?
What are the key risks associated with the ongoing exploration and drilling activities at the Berrigan Mine, and how does Tomagold Corp Cl A Ord TOGOF plan to mitigate these risks for its shareholders?
**MWN-AI FAQ is based on asking OpenAI questions about Tomagold Corporation (TSXVC: LOT:CC).
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