MONTREAL, QUEBEC–(Marketwired – Nov. 16, 2015) – TOMAGOLD CORPORATION (TSX VENTURE:LOT) (“TomaGold” or the “Corporation”) is pleased to announce that it will carry out a high-definition magnetic VTEM-type airborne survey with Geotech by the end of November.
The survey will cover the Little Monster, Cookie Monster, Monster Island and Hazeur properties, and will consist of some 440 km of flight lines for a total area of 6,595 hectares (66 km2). These contiguous properties lie along the eastern and southern boundaries of the Monster Lake, Lac-à-l’Eau-Jaune and Winchester properties, which are currently covered by a 50/50 joint venture with IAMGOLD Corporation.
“We are keen to pursue work on our properties around Monster Lake,” said David Grondin, President and CEO of TomaGold. “We expect this preliminary work to generate an initial set of targets for additional work in 2016. Although we recently solidified our financial position, we remain cautious and strategic in terms of the expenses we incur to establish the gold potential on our properties.”
TomaGold’s recently acquired Monster Island and Hazeur properties add an area of 3,913 hectares to the 2,682 hectares already covered by the Little Monster and Cookie Monster properties. The Monster Island property (1,173 hectares) lies directly on top of anomalies identified by a VTEM survey done by IAMGOLD on Monster Lake in the winter of 2015, while the Hazeur property (2,740 hectares) covers the large Opawica-Guercheville deformation zone, which hosts the Bachelor mine in Desmaraisville and the Joe Mann mine in Chibougamau.
The technical content of this press release has been reviewed and approved by André Jean, Eng., a qualified person as defined by NI 43-101.
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. The statements in this news release that are not historical facts are “forward-looking statements”. Readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results may vary materially from those described in such “forward-looking” statements.
A map is available at the following address: http://media3.marketwire.com/docs/151116_LOT_map.pdf
President and Chief Executive Officer