TomaGold intersects 15.0 g/t Au, 46.8 g/t Ag and
10.4% Cu over 2 metres on its Obalski property
Montreal, Quebec, March 16, 2017 - TOMAGOLD CORPORATION (TSXV: LOT) ("TomaGold" or the "Corporation") is pleased to announce initial results from its 1,700-metre drilling program on its 100%-owned Obalski property. The property covers 345 hectares, including a 33-hectare mineral concession, and lies about 2 km south of Chibougamau, Quebec. Further results are pending.
The current program consists of about 1,700 metres of drilling in 11 holes. The holes target an area where mineralized zones A and B meet and are in contact with the Lac Doré anorthosite complex, which has never been tested. Hole OB-17-02, drilled about 125 metres east of the old Zone A underground workings, intersected semi-massive sulphides grading 15.0 g/t Au, 46.8 g/t Ag and 10.4% Cu over 2.0 metres, including 21.3 g/t Au, 52.3 g/t Ag and 8.6% Cu over one metre, at a vertical depth of 95 metres.
"We are excited about these initial results on Obalski," said David Grondin, President and CEO of TomaGold. "According to the old Obalski mine plans and sections, we believe that Hole OB-17-02 could be the eastern extension of Zone A, which produced 90,000 tonnes at grades of 3.0 g/t Au, 6.2 g/t Ag and 1.52% Cu between 1964 and 1972. However, more drilling will be required to confirm this hypothesis. As mentioned previously, we are also aiming to assess the property's gold potential at depth, because although over 60,000 metres of drilling has been done on the property in the past, most of it was in shallow holes."
Based on observation of the sections available, the ratio of true thickness to core length is estimated at 65% to 70%.
