Baird (JV with Goldcorp/New Gold)On October 26, 2016, TomaGold acquired Skyharbour Resources Ltd.'s interest in the Baird property in exchange for 600,000 shares of the Corporation. As a result, TomaGold holds a 24.5% interest in the property, with New Gold Inc. holding a 24.5% interest and Goldcorp Inc., as operator, owning the remaining 51% interest. The property is currently subject to a 2.0% net smelter return.
The Baird property lies in the central Red Lake gold belt six kilometres north of the Madsen Mine and fourteen kilometres southwest of the Goldcorp Red Lake Mine. The property lies within the highly prospective Balmer assemblage of volcanic rocks and exhibits structural and alteration systems typical of the Goldcorp Red Lake and Campbell mines.
Previous exploration work
Drilling in the 1980s by United Reef on Baird returned assay values of 172 g/t gold over 1.2 metres and 19 g/t gold over 1.8 metres.
In the summer of 2002, Skyharbour completed a 1,600-metre drill program with gold intersections of up to 10 g/t gold over 1.0 metre encountered in what is known as the North Shear Zone. The 2002 drill program also identified a potential South Shear Zone (Source: Baird Property 2003 Drilling Program, David J. Busch, P.Geo., March 3, 2004).