TomaGold Corporation is a Canadian mineral exploration company engaged in the acquisition, assessment, exploration and development of gold mineral properties.
To optimize its chances of discovery and minimize its exploration risk, TomaGold aims to develop high-grade gold properties with major mining companies. It has a joint venture agreement with IAMGOLD Corporation for the Monster Lake gold project and another with Goldcorp Inc. for the Sidace Lake gold project.
TomaGold has interests in seven gold properties in northern Quebec: Monster Lake, Winchester, Lac-à-l'Eau-Jaune, Monster Lake East, Obalski and Lac Cavan near the Chibougamau mining camp, and Urban Lake in Lebel-sur-Quévillon. It also holds interest in the Sidace Lake and Baird properties in the Red Lake mining camp of Ontario. Finally, it has an option to acquire a 70% interest in the Hazeur property, at the southern edge of the Monster Lake group of properties.
TomaGold's Project Portfolio:
(1) Monster Lake Gold Project, Chibougamau, Northwestern Quebec (45% TomaGold / 50% IAMGOLD)
The Monster Lake gold project consists of 114 mineral claims covering an area of 3,336 hectares, located along a 4.5-km gold-bearing structure. It lies 44 kilometres southwest of the town of Chibougamau in northwestern Quebec. The property is easily accessible by road, and a high-voltage transmission line crosses the area nearby.
The best results of the 2016 winter diamond drilling (21 diamond drill holes totalling 8,105 metres):
Monster Lake Shear Zone and 325-Megane Zone
Best Results on Monster Lake (Megane-325 Area)
(Published October 7, 2015)
Strong Results from Preliminary Metallurgical Scoping Study:
(2) Monster Lake East and Hazeur Gold Projects, Chibougamau, Northwestern Quebec
Exploration on Monster Lake East and Hazeur Properties which are adjacent to the Monster Lake Property
November 2015: High-definition magnetic VTEM-type airborne survey over Monster Lake East and Hazeur properties.
December 2015: Initiated a drilling program consisting of 11 holes totalling 1,783 metres on the Monster Lake East property. The program showed that these anomalies are related to the presence of disseminated pyrite at the edge of pillow basalts, with some showing a strongly magnetic rock of gabbroic composition. The program returned gold assay results of below 1 g/t gold.
July 2016: Initiated a 2,000-metre drilling program on Hazeur property.
On September 26, 2016, TomaGold announced the results of the drilling program. The best results were obtained in Holes HA-16-03 to HA-16-08.
"This is a successful first drilling program, as it supports the presence of the mineralized structure of the Philibert deposit on the Hazeur property," said David Grondin, President and CEO of TomaGold.
(3) Obalski Gold Project, Chibougamau, Northwestern Quebec
(4) Sidace Lake Gold Project, Red Lake Mining Camp, Ontario
Management and Directors
David Grondin, BBA, President and CEO, Director
Mr. Grondin has over 15 years of experience in the financial and mining industries. He is also the president, chief executive officer and a director of NQ Exploration, and a director of Kilkenny Capital Corporation.
André Jean, P.Eng., Director of Exploration
Mr. Jean has over 30 years of experience in geology, having worked for multiple mining companies in Quebec, Central and South America and Africa, including Les Mines Seleine, Louvem, Lac Minerals and Osisko.
Martin Nicoletti, CPA, CGA, Chief Financial Officer
Mr. Nicoletti is a certified general accountant with more than 22 years of experience. He presently acts as chief financial officer for a number of public companies.
Robert Desjardins, Adm. A, Director
Mr. Desjardins is the president of Robert G. Desjardins et Associés Inc. He is also a director and a member of the audit committee of Strateco Resources Inc.
Vittorio Violo, Director
Mr. Violo brings financing, and mergers and acquisitions expertise to the Company. He is COO of PNS-Tech Inc.
Ciro Cucciniello, Director
Mr. Cucciniello has been a lawyer since 1986 and is a partner of the law firm Cucciniello Calandriello LLP.
Pierre Lepine, CPA, Director
Mr. Lépine is director of Dyncor Gold Mines Inc. since June 2014. He is also Executive Vice-President and co-founder of Groupe ABP.
On August 10, 2017, TomaGold Corp. announced that strategic investment of $2.5 million by Iamgold Corp. Iamgold Corp. has agreed to subscribe by way of private placement 27,777,777 common shares of TomaGold Corp. at a price of nine cents per common share for gross proceeds of approximately $2.5-million. On closing date of the transaction, Iamgold will own approximately 19.98 per cent of the issued and outstanding common shares of TomaGold on a non-diluted basis.
On July 6, 2017, TomaGold Corp. announced that its partner Iamgold Corp. has provided the remaining assay results from the winter 2017 drilling program completed at its Monster Lake joint venture project.
Drilling results highlights:
Monster Lake shear zone, Megane zone and Annie shear zone:
Lower shear zone:
On March 16, 2017, TomaGold Corp. announced initial results from its 1,700-metre drilling program on its 100-per-cent-owned Obalski property located in Chibougamau, Northwestern Quebec.
Hole OB-17-02 intersected semi-massive sulphides grading 15.0 grams per tonne gold, 46.8 g/t silver and 10.4 per cent copper over two metres, including 21.3 g/t Au, 52.3 g/t Ag and 8.6 per cent Cu over one metre, at a vertical depth of 95 metres.
On January 23, 2017, TomaGold Corp. announced that it has started drilling on its Obalski gold property located in Chibougamau, Northwestern Quebec. The current program consists of about 1,700 metres of drilling in nine holes. The holes will target an area where mineralized zones A and B meet and are in contact with the Lac Dore anorthosite complex.
On November 29, 2016, TomaGold Corp. provided an update on its activities and a summary of its strategic plan for 2016/2017.
"In 2016, TomaGold significantly enhanced its property portfolio by acquired high-quality mining projects," said David Grondin, president and chief executive officer of TomaGold. "We signed agreements to acquire interests in three advanced gold development projects, some of which are under joint venture agreements with major mining companies. We are now at the next stage of our strategic plan, which consists of enhancing the value of our various projects. Our immediate objective is to close our financing, after which we will focus on developing our projects in Canada. We expect 2017 to be very active for TomaGold."
On October 26, 2016, TomaGold Corp. announced that it has closed its acquisition of Skyharbour Resources Ltd.'s interest in the Baird property in the Red Lake mining camp, in exchange for 600,000 shares of the corporation. As a result, TomaGold holds a 24.5-per-cent interest in the property, with New Gold Inc. holding a 24.5-per-cent interest and Goldcorp Inc., as operator, owning the remaining 51-per-cent interest. The property is currently subject to a 2-per-cent net smelter return.
TomaGold has also closed the acquisition of six additional claims with high-grade gold values covering 112.45 hectares from Torino Power Solutions Inc. in exchange for 1.2 million shares of the corporation. These claims are located in the middle of the block of claims held by TomaGold and Visible Gold, on the same mineralized structure that the Company believes hosts the Philibert deposit.