TomaGold Hits Three High-Grade Gold Intersections at Monster Lake, Including 42 g/t Au Over 7.2 m at a Vertical Depth of 278 m
MONTREAL, QUEBEC -- (Marketwire) -- 02/20/13 -- TomaGold Corporation (TSX VENTURE: LOT) ("TomaGold" or the "Company") and Quinto Real Capital Corporation ("Quinto") are pleased to 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 degrees azimuth. The holes were drilled at dips of -50 degrees, -60 degrees and -70 degrees to intersect the mineralized zone at vertical depths of 175 to 275 metres. AGATLabs of Mississauga, Ontario, reported the following results:
-- Hole M-13-93: 33.6 g/t Au over 5.85 m at a vertical depth of 217 m
-- Hole M-13-94: 11.5 g/t Au over 5.30 m at a vertical depth of 187 m
-- Hole M-13-95: 42.0 g/t Au over 7.20 m at a vertical depth of 278 m
It should be noted that the sheared tuff unit hosting the gold-bearing quartz vein was intersected at a 40-50 degrees 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."
The best drill results for the 325 Zone are as follows:
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Hole Length Depth
(#) Section g/t Au (m) (m)
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M-25-11(i) 1090E 101.2 4.50 50
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M-38-11(i) 1200E 7.2 3.00 80
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M-37-11(i) 1245E 19.4 2.00 85
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M-43-11(i) 1195E 11.1 1.00 103
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M-13-94 1230E 11.5 5.30 187
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M-13-93 1240E 33.6 5.85 217
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M-13-95 1265E 42.0 7.20 278
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(i) Old drill holes
"In light of these results, we have decided to add another 1,000 metres of drilling to the program, for a total of 3,500 meters. The series of holes now being drilled are aimed at testing the lateral extensions of the mineralization on Sections 1300E and 1200E at the same vertical depths," Mr. Grondin added.
The technical content of this press release has been reviewed and approved by Maurice Giroux, a qualified person as defined by NI 43-101.
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 James Bay Joint Action Mining Committee 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.
About the Monster Lake Project
The Monster Lake property is located in northwestern Quebec, 44 kilometres southwest of the town of Chibougamau. It is easily accessible by road and near a major power line. Over 30,000 metres of diamond drilling has been done since 1984 along the four-kilometre mineralized corridor. During the winter of 2012, TomaGold drilled 16 additional holes for a total of 2,420 metres, and made a major discovery of 237.6 grams per tonne gold over 5.7 metres in Hole M-12-60. The mineralization is associated with dark quartz-sulphide veins within a shear zone 3-10 metres wide in basaltic units.
About Quinto Real Capital Corporation
Quinto Real Capital Corporation is a Canadian-based mining exploration company focused on the exploration, evaluation and development of gold mining properties with a view to commercial production. Quinto has an option to acquire up to a 70% interest in the Monster Lake gold property, located in the Chibougamau mining camp, in the province of Quebec.
About TomaGold Corporation
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.
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:
TomaGold Corporation
David Grondin
President and Chief Executive Officer
(514) 206-7727
http://tomagoldcorp.com
Quinto Real Capital Corporation
Michael Curtis
Director
(514) 303-7895
