TomaGold Corporation (TSX VENTURE:LOT) and Quinto Real Capital Corporation announce the results of the three first holes of the 2,500-metre drilling program on the Monster Lake property, located 44 km southwest of Chibougamau, Quebec.
These first holes were drilled on Sections 1230E to 1265E of the 325 Zone, on the same 290° azimuth. The holes were drilled at dips of -50°, -60° and -70° to intersect the mineralized zone at vertical depths of 175 to 275 metres. AGATLabs of Mississauga, Ontario, reported the following results:
It should be noted that the sheared tuff unit hosting the gold-bearing quartz vein was intersected at a 40-50° angle to the core axis, meaning that the width of the intersection is not necessarily the true width. Based on observations on surface in recent trenching and old holes drilled by SOQUEM and Stellar Pacific, the Company estimates the true width of the mineralized zone at 70 to 85% of the width intersected in the drill holes.
David Grondin, President and CEO of TomaGold, stated that: “This major discovery will take our assessment to a whole new level at Monster Lake, which has never been drilled to a depth of more than 125 metres. These holes show that the 325 Zone has promising gold potential at depth. The results for the first three holes would seem to indicate that the 325 Zone becomes wider and richer at depth. The presence of trace chalcopyrite and sphalerite and semi-massive pyrrhotite accompanied by intense black chlorite alteration suggests the proximity of a “VMS”-type setting, an indicator of potential for massive sulphide gold deposits.”
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