TomaGold Set to Launch Strategic Drilling Campaign on its Chibougamau Projects
Planned 53-hole exploration drilling campaign targeting mainly the Berrigan, Radar, David, Dufault and Obalski properties
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MONTREAL — TOMAGOLD CORPORATION (TSXV: LOT) (' TomaGold ' or the ' Company ') is pleased to announce the upcoming launch of its 2025 drilling campaign, which will focus primarily on the properties currently under option from SOQUEM and Chibougamau Independent Mines in the Chibougamau Mining Camp, as well as its wholly-owned Obalski Project (the ' Chibougamau Projects ').
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David Grondin, CEO of TomaGold stated:
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'The Chibougamau Mining Camp has recently attracted significant exploration activity, underscoring the region's increasing potential for gold and copper discoveries. Since the beginning of the year, we have compiled project data, advanced preliminary work, identified high-priority targets, and prepared our properties to be drill-ready. Our 53-hole exploration program will focus on our key projects—Berrigan, Radar, David, Dufault, and Obalski—with the objective of uncovering new gold-copper mineralization on well-defined, strategically selected targets. We are eager to commence drilling and build on the momentum in this highly prospective region.'
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Drill and Work Permits Secured
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TomaGold has obtained all the necessary drilling and work permits, including the ATI ('Autorisation de Travaux à Impact') and forestry permits, to begin exploration activities across its Chibougamau Projects.
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Drill Pad Setup and Mobilization Status
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All access trails to the drill sites have been cleared and secured, and the drill setups are ready for immediate mobilization. A total of 53 drill targets have been identified and are fully permitted. While preparing the sites during the winter, the team also conducted limited and selective surface sampling in select areas. Analytical results from this sampling are currently pending.
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Geophysical Survey Work on Obalski
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A downhole resistivity/induced polarization (IP) logging survey was conducted in hole OBS-17-002, which intersected the newly interpreted NE-SW Zone on the Obalski Project. The objective was to determine the in-situ physical properties of this high-grade copper-gold zone to define the most effective geophysical method for the upcoming drilling campaign. The resistivity and chargeability contrasts measured between the host rocks and the NE-SW Zone are up to 10,000 times more conductive and 10 times more chargeable, respectively. To confirm these results, the geophysical properties of hole OBS-23-032 were also measured. This hole was interpreted to have intersected the same NE-SW Zone some 65 m further south. The results again confirmed similar conductive and chargeable contrasts of 25,000x and 10x, respectively. These very high contrasts suggest that electromagnetic (EM) and induced polarization (IP) methods could be successfully applied in this geological context of the Obalski project and possibly the Chibougamau Camp.
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3D Modelling and Structural Reinterpretation
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TomaGold has completed approximately 95% of the geological reinterpretation and 3D modeling of the Obalski project. The updated model incorporates historical and recent data, providing a more comprehensive understanding of structural controls and mineralization trends. Final conclusions and visuals from the model will be presented shortly.
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The Company has initiated a similar modelling and reinterpretation process across its other projects, leveraging the structural insights gained from the Obalski project reinterpretation.
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TomaGold has outlined a series of geophysical surveys to be conducted across its Chibougamau Projects in 2025, pending crew availability and seasonal access. These surveys are designed to refine drill targeting and enhance geological modelling across key assets.
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Summary of Planned Geophysical Work by Project:
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Project
Planned Geophysical Survey
Obalski
(100% TomaGold)
IP survey along the D vein, covering the Wilson and South zones
Radar
(Under option from SOQUEM)
Airborne magnetic survey (50 m line spacing), ground IP surveys on new targets, possible 3D ambient tomography
David
(Under option from SOQUEM)
Downhole IP in historical and recent drill holes, pending casing verification
Dufault
(Under option from SOQUEM)
NW–SE IP survey over the 055° vein corridor; NE–SW IP over the Bourbeau Sill outlet zone
Berrigan
(Under option from Chibougamau Independent Mines)
2D and 3D modelling under way; geophysical surveys anticipated in subsequent phases
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These surveys will complement the current structural reinterpretation work and support future drilling campaigns across the portfolio.
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The technical content of this press release has been reviewed and approved by Jean Lafleur, P.Geo., the Company's Vice President of Exploration and a qualified person under National Instrument 43-101.
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About TomaGold
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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.
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Cautionary Statement on Forward-Looking Information
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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 potential results of exploration and drilling activities, 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.
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