Tomagold Lines up a Second High-Grade Intersection of 101.2 g/t Au Over 4.5 m at Monster Lake
MONTREAL, QUEBEC -- (Marketwire) -- 05/01/12 -- TomaGold Corporation Inc. (TSX VENTURE: LOT) ("TomaGold" or the "Company") is pleased to announce more strong results from the compilation of old drill holes at its Monster Lake project near Chibougamau, Quebec.
The Company has discovered that the recently-announced intersection of 5.7 metres grading 237.6 g/t Au from Hole M-12-60 is in fact the second such intersection in the Zone 325 - Annie Zone gold corridor. In 2011, Stellar Pacific Ventures Inc. drilled Hole M-25-11 into Zone 325 and intersected 101.2 g/t Au over 4.5 metres at a depth of 49.5 to 54.0 metres. This interval included a particularly high-grade section of 223.2 g/t Au over 2 metres from 49.5 to 51.5 metres that contained veinlets of massive gold at 30 degrees to the axis of the core.
David Grondin, President and Chief Executive Officer, said that: "In addition to Hole M-12-60, we keep being pleasantly surprised by the compilation for the Monster Lake project. The M-25-11 intersection, located along the gold corridor 1.5 kilometres from Hole M-12-60, once again confirms the gold potential of the Monster Lake project, particularly given the shallow depth of these intersections. We expect to finish the compilation work in the coming weeks, which will then allow us to prepare our next drilling program."
The following table shows the grades obtained for the interval from 49.5 m to 51.5 m in Hole M-25-11:
Hole M-25-11 drilled by Stellar Pacific
----------------------------------------------------------------------------
Length Au_Ms Au_GRAV
From (m) To (m) # (m) (g/t) (g/t)
----------------------------------------------------------------------------
49.5 50.0 16054 0.50 20.40 22.58
----------------------------------------------------------------------------
50.0 50.5 16055 0.50 148.11 287.21
----------------------------------------------------------------------------
50.5 51.0 16056 0.50 126.87 562.35
----------------------------------------------------------------------------
51.0 51.5 16057 0.50 20.80 20.64
----------------------------------------------------------------------------
Average Average
79.05 g/t Au 2.0 m 223.20 g/t Au 2.0 m
----------------------------------------------------------------------------
The following table repeats the assay results for the eight samples from Hole M-12-60 for the purposes of comparison:
Hole M-12-60 drilled by TomaGold
----------------------------------------------------------------------------
Length Au_Ms Au_GRAV
From (m) To (m) # (m) (g/t) (g/t)
----------------------------------------------------------------------------
69.00 69.75 51242 0.75 205.0 200.0
----------------------------------------------------------------------------
69.75 70.50 51243 0.75 181.0 184.0
----------------------------------------------------------------------------
70.50 71.25 51245 0.75 243.0 233.0
----------------------------------------------------------------------------
71.25 72.00 51246 0.75 75.8 105.0
----------------------------------------------------------------------------
72.00 72.75 51247 0.75 101.0 97.9
----------------------------------------------------------------------------
72.75 73.50 51248 0.75 381.0 379.0
----------------------------------------------------------------------------
73.50 74.10 51250 0.60 493.0 700.0
----------------------------------------------------------------------------
74.10 74.70 51251 0.60 59.0 59.0
----------------------------------------------------------------------------
Average Average
214.4 g/t Au 5.70 m 237.6 g/t Au 5.70 m
----------------------------------------------------------------------------
The mineralized zone in both intersections is a black quartz vein hosted in a strongly sheared lapilli tuff. The surrounding tuff is completely silicified. The mineralized sections contain native gold over their entire length, as well as variable amounts of pyrite and pyrrhotite and trace chalcopyrite. The sheared tuff containing the black quartz vein lies at 40 degrees to the axis of the core, meaning that the reported width is not the true width. Based on visual observation of the shear zone in recently stripped areas and SOQUEM drill sections for the Annie Zone just to the south, the true width of the shear zone is estimated at 80% of the width cut by the core.
Hole M-12-60 lies in the northeastern extension of the Annie Zone, while Hole M-25-11 is located south of Zone 325, about 1.5 km southeast of Hole M-12-60. To date, the Monster Lake gold corridor has been traced by drilling over a strike length of more than 4.5 kilometres.
Hole M-12-60 is one of 18 holes drilled to test the continuity of Zone 52 at depth and the northern extension of the Annie Zone. The following table summarizes the best results for the program:
------------------------------------------------------------------------
Hole # Target From (m) To (m) g/t Au Length (m)
------------------------------------------------------------------------
M-12-50 Megane-325 160.6 162.2 4.52 1.6
------------------------------------------------------------------------
M-12-51 Megane-325 147.1 148.6 2.05 1.5
------------------------------------------------
153.7 154.4 2.27 0.7
------------------------------------------------------------------------
M-12-52 Megane-325 96.7 97.6 8.67 0.9
------------------------------------------------------------------------
M-12-53 Megane-325 59.8 62.0 1.56 2.2
------------------------------------------------------------------------
M-12-56 Megane-325 105.2 106.9 1.23 1.7
------------------------------------------------------------------------
M-12-57 Megane-325 77.9 79.3 1.74 1.4
------------------------------------------------
116.4 117.5 6.99 1.1
------------------------------------------------
129.1 132.0 2.91 2.9
------------------------------------------------
133.5 135.0 3.10 1.5
------------------------------------------------------------------------
M-12-59 Annie 171.3 173.1 1.32 1.8
------------------------------------------------------------------------
M-12-60 Annie 69.0 74.7 237.6 5.7
------------------------------------------------------------------------
M-12-62 Annie 66.0 69.0 1.96 3.0
------------------------------------------------------------------------
M-12-65 Eratix 85.2 86.3 1.34 1.1
------------------------------------------------------------------------
SAMPLE PREPARATION AND ANALYSIS
The NQ-diameter core is sawed in half, with one half kept as a witness sample and the other half shipped to the Table jamesienne de concertation miniere in Chibougamau to be ground and pulverized. After primary grinding, the sample is quarter split, and one half is kept as a witness (reject) while the other half is sent for pulverization.
The nominal weight of the pulverized pulp is 1,000 g unless the raw sample was less than 2 kg, in which case all of the pulp is sent to AGAT Laboratories in Mississauga, Ontario.
AGATLabs (Mississauga, ON) takes a 50-g sample for processing by fire assay with atomic absorption finish. When values are higher than 10 g/t Au, gravity analysis is also done.
Metallic sieve analysis is done in two stages. The 1 kg pulp is first screened using a +150 mesh screen. The entire coarse fraction is analysed by gravity fire assay, while a 50 g sample is taken from the fine fraction and also assayed by gravity fire assay. The final result is the weighted average for the two fractions.
It is standard practice to use metallic sieve analysis when visible gold can be seen in the core, as is the case of the 5.7-metre section of 214.3 g/t Au from Hole 60. Analysis of the same intersection by gravity fire assay returned a slightly higher value of 237.6 g/t Au over 5.7 m.
ABOUT THE MONSTER LAKE PROJECT
The Monster Lake property is located 44 kilometres southwest of the town of Chibougamau in northern Quebec. It is easily accessible by road and has a major power line nearby. From 1984 to 1995, SOQUEM drilled 142 holes for nearly 20,000 meters of diamond drill core and excavated several trenches along this 4 kilometre long mineralized corridor. Before Stellar's drilling, there were more than 45 known intersections of greater than 1 g/t Au from drill core or channel samples. The three principal showings, Eratix, Zone IV/III and Zone 52, have been drilled at 50 meter intervals, but for the most part with only one hole per section, leaving several mineralized intersections wide open, along strike and at depth.
The Monster lake property was recently acquired by TomaGold, along with two other gold projects (Urban and Vassan), from Stellar Pacific Ventures Inc. Over the past two years, Stellar drilled 46 diamond drill holes (5,235 m) on gold bearing structures defined along a 4 km long NNE striking mineralized corridor. The mineralization is related to dark quartz-sulphide veins within an altered shear zone ranging from 3 to 10 metres in width in basaltic units.
ABOUT TOMAGOLD CORPORATION INC.
TomaGold Corporation is a Canadian-based mining exploration company whose primary mission is the acquisition, exploration and development of gold projects in Canada and abroad.
The technical content of this press release has been reviewed and approved by Mr. Maurice Giroux, a qualified person as defined in NI 43-101 regulation.
For a complete list of drill results from the Monster Lake project, please visit the TomaGold website at www.tomagoldcorp.com
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.
Contacts:
Mr. David Grondin
President and CEO
(514) 206-7727
