Latest news with #TomaGold
National Post
5 days ago
- Business
- National Post
TomaGold Launches Strategic Drilling Campaign on its Chibougamau Projects
Company also announces positive results from its 3D geological model at Obalski, revealing high-potential copper-gold targets Article content MONTREAL — TOMAGOLD CORPORATION (TSXV: LOT; OTCPK: TOGOF) (' TomaGold ' or the ' Company ') is pleased to announce the beginning of its drilling program on its Chibougamau projects in Quebec. As outlined in its June 20, 2025 press release, the Company has initiated a 53-hole exploration drilling program targeting its key projects, namely Obalski, Berrigan Mine, Radar, David, and Dufault, with the goal of uncovering new gold-copper mineralization on strategically selected, well-defined targets. Article content Article content TomaGold is also pleased to announce the results of its most recent 3D geological and structural interpretation of the Obalski project (the 'Project'), located two kilometres south of Chibougamau, Québec, within the mineral-rich Abitibi Greenstone Belt. Article content This comprehensive modeling effort led to the identification of multiple copper-gold (Cu-Au) mineralized zones controlled by well-defined shear systems, offering substantial upside for future exploration and drilling. This work integrates historical drilling data, geophysical surveys (resistivity and metal factor), and structural interpretation, resulting in a refined geological framework for the Project that confirms several high probability yet untested mineralized targets. Article content TomaGold's CEO David Grondin stated: 'This model provides us with a far more detailed and accurate picture of the lithological, structural, and mineralization architecture at Obalski. It confirms historical mineralization trends and identifies a series of compelling, high-confidence exploration targets observed elsewhere in the Chibougamau Mining Camp, based on recent work by the TomaGold technical team. We now have a clear roadmap to expand mineralized zones with precision-guided exploration using surface bedrock and soil sampling, outcrop stripping and sampling, and SONIC and diamond drilling.' Article content Technical Highlights and Key Conclusions Article content The updated geological model successfully reconciles decades of reportedly dissimilar and inconsistent datasets into a unified and standardized 2D and 3D framework of lithologies, structures, mineralization, geochemistry, and assay results. This integration significantly improves confidence in target definition and enhances geological continuity across the Project. Article content Key Findings: Article content 1. Identification of Two Major Shear Systems Article content The interpretation confirms the presence of two dominant shear systems: Article content A N110° (SE-NW) trending shear structure associated with copper-gold mineralization in quartz veins and chlorite-carbonate altered zones. A younger 020° (NE-SW) trending shear that offsets the former structure and appears to host predominantly gold mineralization. Article content The intersection of these two systems creates structurally favorable zones with increased permeability, representing high-priority targets for hydrothermal fluid migration and metal deposition. This structural configuration is clearly illustrated in Figure 1. Article content Article content 2. Spatial Association Between Mineralization and Intrusive Contacts Article content Numerical models of copper assays revealed that Cu enrichment is concentrated along the margins of intrusive units—particularly dioritic and granitic contacts. These observations support a genetic link between magmatic activity and mineralization. The highest assay clusters occur near structurally disrupted intrusive contacts. This correlation is well depicted in Figures 2 and 3. Article content 3. Well-Defined Mineralized Zone and Orientation Article content The integrated model delineates a mineralized zone trending north-northeast with a moderate plunge of approximately 32° toward the east. This geometry aligns with regional shear zones and provides a clear vector for down-plunge drilling extensions, shown in Figure 4. Article content 4. Predictive Mineralization Modelling Validates Untested High-Potential Zones Article content The 3D distance-based predictive model combines geophysics, lithology, and geochemistry to estimate the probability of mineralization. The zones with the highest potential for mineralization (shown in purple and dark blue shells in Figure 5 below) are concentrated along structural intersections and lithological boundaries between pillowed volcanics and intrusive rocks. Article content Exploration Upside and Targeting Strategy Article content The integration of geological, structural, and assay data defines multiple high-priority exploration targets, which are summarized as follows: Article content Structural intersections of the N110° (SE-NW) and NE-SW trending shears offer the greatest potential for mineralized shoots. Intrusive-volcanic contacts (especially where sheared) consistently correlate with higher copper and gold grades. Down-plunge extensions along the 32° plunge trend remain open and under-drilled. The southeastern area of the Project, where folding and intrusive complexity are observed (potential dioritic trap), presents a newly recognized exploration opportunity. Parallel, underexplored structures may host additional mineralized lenses. Article content This targeting strategy is supported by both structural logic and assay correlations, enhancing drill efficiency and reducing exploration risk. Article content Recommendations and Next Steps Article content To optimize future exploration success, the report recommends the following: Article content Increasing the assay dataset through systematic sampling of drill holes, particularly across lithological and structural contacts. Standardizing core logging protocols, with a focus on alteration, structure, and geochemical pathfinder elements. Re-logging historic cores with updated multi-element and trace element geochemistry (e.g., pXRF and spectral analysis). Expanding geophysical coverage, including high-resolution passive and active seismic surveys (in collaboration with the Smart Exploration Centre). Widening the geochemical scope beyond Au and Cu to include Ag, Zn, Bi, Te, and other pathfinder elements.
Business Wire
18-07-2025
- Business
- Business Wire
TomaGold Announces Closing of Hazeur, Monster Lake East and Monster Lake West Properties Sale Transaction
MONTREAL--(BUSINESS WIRE)-- TOMAGOLD CORPORATION (TSXV: LOT; OTCPK: TOGOF) (' TomaGold ' or the ' Company ') is pleased to announce the closing of the previously-disclosed asset purchase agreement with Northern Superior Resources Inc. (TSXV: SUP; OTCQX: NSUPF; GR: D9M1) (' Northern Superior ') dated July 10, 2025 (the ' Asset Purchase Agreement '), for the sale of the Company's wholly-owned Hazeur, Monster Lake East and Monster Lake West properties (collectively, the ' Properties '), located in the Chibougamau area, in the province of Québec. Pursuant to the Asset Purchase Agreement, in consideration for the acquisition of the Properties (the ' Proposed Acquisition '), Northern Superior provided the following consideration to TomaGold: Closing Payment: A cash payment of $1,000,000 to TomaGold in satisfaction of the purchase price of the Asset Purchase Agreement; and Royalty: Northern Superior granted to TomaGold, a net smelter returns royalty of 2% (the ' NSR ') on all mineral production from the Properties pursuant to a net smelter royalty agreement dated as of the closing date of the Proposed Acquisition. Northern Superior, or any successor entity that holds an interest in the Properties, has the right to repurchase one half (i.e., 1.0%) of the NSR at any time for a one-time cash payment of $1,000,000. An additional payment of $1,000,000, payable in cash or shares, at the election of Northern Superior, shall be payable to TomaGold in the occurrence of certain events, as detailed in the Asset Purchase Agreement and the press releases of the Company issued on June 16, 2025 and July 11, 2025. 'This is an important transaction for TomaGold. It will enable us to begin our planned, fully permitted exploration programs on our core properties in the Chibougamau Mining Camp, including Obalski, Berrigan, Radar, David, and Dufault, and contribute to the development of this reemerging mining camp,' said David Grondin, CEO of TomaGold. About TomaGold TomaGold Corporation (TSXV: LOT; OTCPK: TOGOF) is a Canadian mineral exploration company engaged in the acquisition, assessment, exploration and development of gold, copper, rare earth elements and lithium projects. Its primary goal is to consolidate the Chibougamau Mining Camp in northern Quebec, where it holds interests and agreements to acquire 13 properties, including its wholly owned Obalski project. TomaGold also owns a 100% interest in the Brisk Extension lithium property and in the Star Lake rare earth elements property, located in the James Bay region of Quebec, as well as a 24.5% interest in the Baird property, located near the Red Lake Mining Camp in Ontario, through a joint venture with Evolution Mining Ltd. and New Gold Inc. 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 realization of the transaction under the terms set out in this press release, 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 the 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.
National Post
18-07-2025
- Business
- National Post
TomaGold Announces Closing of Hazeur, Monster Lake East and Monster Lake West Properties Sale Transaction
Article content MONTREAL — TOMAGOLD CORPORATION (TSXV: LOT; OTCPK: TOGOF) (' TomaGold ' or the ' Company ') is pleased to announce the closing of the previously-disclosed asset purchase agreement with Northern Superior Resources Inc. (TSXV: SUP; OTCQX: NSUPF; GR: D9M1) (' Northern Superior ') dated July 10, 2025 (the ' Asset Purchase Agreement '), for the sale of the Company's wholly-owned Hazeur, Monster Lake East and Monster Lake West properties (collectively, the ' Properties '), located in the Chibougamau area, in the province of Québec. Article content Pursuant to the Asset Purchase Agreement, in consideration for the acquisition of the Properties (the ' Proposed Acquisition '), Northern Superior provided the following consideration to TomaGold: Article content Closing Payment: A cash payment of $1,000,000 to TomaGold in satisfaction of the purchase price of the Asset Purchase Agreement; and Royalty: Northern Superior granted to TomaGold, a net smelter returns royalty of 2% (the ' NSR ') on all mineral production from the Properties pursuant to a net smelter royalty agreement dated as of the closing date of the Proposed Acquisition. Northern Superior, or any successor entity that holds an interest in the Properties, has the right to repurchase one half (i.e., 1.0%) of the NSR at any time for a one-time cash payment of $1,000,000. Article content An additional payment of $1,000,000, payable in cash or shares, at the election of Northern Superior, shall be payable to TomaGold in the occurrence of certain events, as detailed in the Asset Purchase Agreement and the press releases of the Company issued on June 16, 2025 and July 11, 2025. Article content 'This is an important transaction for TomaGold. It will enable us to begin our planned, fully permitted exploration programs on our core properties in the Chibougamau Mining Camp, including Obalski, Berrigan, Radar, David, and Dufault, and contribute to the development of this reemerging mining camp,' said David Grondin, CEO of TomaGold. Article content About TomaGold Article content TomaGold Corporation (TSXV: LOT; OTCPK: TOGOF) is a Canadian mineral exploration company engaged in the acquisition, assessment, exploration and development of gold, copper, rare earth elements and lithium projects. Its primary goal is to consolidate the Chibougamau Mining Camp in northern Quebec, where it holds interests and agreements to acquire 13 properties, including its wholly owned Obalski project. TomaGold also owns a 100% interest in the Brisk Extension lithium property and in the Star Lake rare earth elements property, located in the James Bay region of Quebec, as well as a 24.5% interest in the Baird property, located near the Red Lake Mining Camp in Ontario, through a joint venture with Evolution Mining Ltd. and New Gold Inc. Article content Cautionary Statement on Forward-Looking Information Article content 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 realization of the transaction under the terms set out in this press release, 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. Article content Article content Article content
National Post
11-07-2025
- Business
- National Post
TomaGold Signs Definitive Asset Purchase Agreement for Sale of Hazeur, Monster Lake East and Monster Lake West Properties
Article content MONTREAL — TOMAGOLD CORPORATION (TSXV: LOT) (' TomaGold ' or the ' Company ') is pleased to announce that it has signed a definitive asset purchase agreement with Northern Superior Resources Inc. (TSXV: SUP; OTCQX: NSUPF; GR: D9M1) for the sale of its wholly-owned Hazeur, Monster Lake East and Monster Lake West properties, as previously disclosed in the press release dated June 16, 2025. Article content The transaction is expected to close next week. Article content About TomaGold Article content TomaGold Corporation (TSXV: LOT) is a Canadian mineral exploration company engaged in the acquisition, assessment, exploration and development of gold, copper, rare earth elements and lithium projects. Its primary goal is to consolidate the Chibougamau Mining Camp in northern Quebec. In addition to the agreements to acquire 13 properties in the camp, the Company holds interests in two gold properties in the vicinity of the camp: Obalski and Doda Lake. TomaGold also owns a 100% interest in a lithium property and in the Star Lake rare earth elements property, located in the James Bay region of Quebec, as well as a 24.5% interest in the Baird property, located near the Red Lake mining camp in Ontario through a joint venture with Evolution Mining Ltd. and New Gold Inc. Article content Cautionary Statement on Forward-Looking Information Article content 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 realization of the transaction under the terms set out in this press release, 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. Article content Article content Article content
Business Wire
11-07-2025
- Business
- Business Wire
TomaGold Signs Definitive Asset Purchase Agreement for Sale of Hazeur, Monster Lake East and Monster Lake West Properties
MONTREAL--(BUSINESS WIRE)-- TOMAGOLD CORPORATION (TSXV: LOT) (' TomaGold ' or the ' Company ') is pleased to announce that it has signed a definitive asset purchase agreement with Northern Superior Resources Inc. (TSXV: SUP; OTCQX: NSUPF; GR: D9M1) for the sale of its wholly-owned Hazeur, Monster Lake East and Monster Lake West properties, as previously disclosed in the press release dated June 16, 2025. The transaction is expected to close next week. About TomaGold TomaGold Corporation (TSXV: LOT) is a Canadian mineral exploration company engaged in the acquisition, assessment, exploration and development of gold, copper, rare earth elements and lithium projects. Its primary goal is to consolidate the Chibougamau Mining Camp in northern Quebec. In addition to the agreements to acquire 13 properties in the camp, the Company holds interests in two gold properties in the vicinity of the camp: Obalski and Doda Lake. TomaGold also owns a 100% interest in a lithium property and in the Star Lake rare earth elements property, located in the James Bay region of Quebec, as well as a 24.5% interest in the Baird property, located near the Red Lake mining camp in Ontario through a joint venture with Evolution Mining Ltd. and New Gold Inc. 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 realization of the transaction under the terms set out in this press release, 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 the 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.
