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TomaGold is a well-financed gold explorer with extensive ground in five properties at the Chibougamau mining camp in northern Quebec.

Its assets comprise the Obalski past producing gold, copper, silver project, which covers 345 hectares and hosts seven known mineralized zones. Between 1964 and 1972, United Obalski Mining extracted 100,273 tonnes at grades of 2.08 g/t Au, 1.14% Cu, and 6.04 g/t Ag from the A Zone.

The Company also owns 100% of the Monster Lake East property, which consists of 69 claims covering an area of 4,269 hectares and is the operator at the 70%-owned Hazeur property, which consists of 61 claims covering an area of 2,863 hectares, located on the southern border of the Monster Lake property. To the west of that, the Company owns the Monster Lake West property, which consists of 21 claims covering 1,172 hectares. Finally, it owns the Lac Doda property, with 80 mineral claims covering 4,478 hectares, 20 kilometres southwest of the Monster Lake property.

TomaGold also has joint venture in the Baird project located in the central Red Lake gold belt in Ontario. The Company has a 24.5% stake with New Gold Inc. holding a 24.5% interest and operator Evolution Mining owning the remaining 51%. Drilling at Baird in the 1980s by United Reef returned such assays as 172 g/t Au over 1.2 metres and 19 g/t Au over 1.8 metres.

Obalski

Summary

TomaGold owns 100% of the Obalski property, a former gold-copper producer. The property covers 345 hectares, including a 33-hectare mineral concession, about 2 km south of Chibougamau, Quebec, in the heart of the Chibougamau mining camp.

The Obalski property hosts seven currently known mineralized zones, one 85-metre shaft and two ramps. A total of 230 holes have been drilled on the property for a total of over 60,000 metres of drilling, most of which was surface drilling. A total of 100,273 tonnes at grades of 1.14% Cu, 2.08 g/t Au and 6.04 g/t Ag from the A Zone between 1964 to 1972, and around 9,000 tonnes at a reported grade of 8.50 g/t Au from the D zone in 1984 were processed at a local mill, outside of the Obalski property.

Geology

Gold-copper mineralization of economic interest at Obalski occurs as sulphide-rich (up to 60%) quartz-carbonate veins within highly chloritized, carbonated and pyritized shear zones. The mineralization varies from massive to disseminated. The quartz veining is injected within fractures/shears.

Property history

Early work

Exploration began on the Obalski property in 1929. A shaft was sunk in 1936 to explore and develop the A zone and was used from 1964 to 1972 to mine 100,273 tonnes grading 1.14% Cu, 2.08 g/t Au and 6.04 g/t Ag from the A zone. A decline was developed to access the D zone and mine 9,000 tonnes grading 8.50 g/t Au in 1983-1984, with the ore processed off-site at a local mill. The decline did not connect with the earlier underground workings at the shaft.

1980s

Significant surface drilling was done in the early 1980s by Camchib Resources and in the late 1980s by Syngold Exploration. Syngold (which became Thunderwood) systematically assessed the Obalski property from 1987 to 1989, carrying out deeper drilling to probe the potential extensions of the known gold-copper-bearing mineralized structures, namely the A, B, C, D and G zones. Drilling was largely focused on the G zone, at the east end of the mining claim block; nevertheless, the best results were obtained from more limited core drilling in the area of the shaft and the decline. The 16 holes in this central area led to the discovery of a new structure to the west of the shaft, called the A-Po zone. Syngold traced the new structure, which was characterized by a thick sulphide envelope, over a strike length of more than 450 metres. The best results obtained for the A-Po zone were:

Hole # *

From (m)

To (m)

Core length ** (m)

Au (g/t)

Ag (g/t)

Cu (%)

Section # ***

OBS-87-002

393.5

425.8

32.3

2.01

-

-

120 E

Including

416.8

422.0

5.2

8.20

-

0.240

OBS-87-003

328.3

348.4

20.1

1.85

-

-

360 E

OBS-87-004

234.3

237.4

3.1

6.07

-

-

102 E

OBS-83-78E

327.4

331.1

3.7

3.25

0.17

0.160

390 E

OBS-88-005

178.9

183.6

4.1

3.57

1.34

0.083

120 E

OBS-88-29

280.3

286.2

5.9

7.42

9.59

0.780

450 E

419.8

428.4

8.6

3.36

-

-

OBS-88-30

375.8

388.7

12.9

1.04

-

-

450 E

 

* The original drill hole number has been modified to include the year it was drilled to avoid confusion.

** The true widths of the intersections are estimated at 60% of core length for the deeper holes and 80% for the shorter holes.   

*** Indicates the new metric reference for the sections; 000 m corresponds to the original 32 00W (feet).

Assaying (gold, multi-element and whole rock) was performed at three different independent laboratories: Chimitec Ltd., Bourlamaque Assay Laboratories Ltd. and Metriclab (1980) Inc. Cyanidation test work was also done at Lakefield Research. Syngold did not introduce standards or blanks into the assaying chain but carried out diligent re-sampling of the mineralization. The work report (GM-48538) included the assay certificates but did not provide any information on the sample preparation and assaying procedure or the internal control results for the laboratories. The above values have been recalculated from the original assays, taking into consideration re-assaying done by Syngold in 1988.

These values are considered as historical only and are solely used for exploration planning purposes.

Data verification by Syngold at the end of the drilling program (duplicate samples) indicated “strong variations” attributed to the nugget effect:

Hole #

Sample #

Au (original)

Au (duplicate)

(oz/t)

(g/t)

(oz/t)

(g/t)

OBS-88-26

3660

0.075

2.569

0.138

4.727

OBS-88-29

3892

0.077

2.637

0.338

11.577

OBS-88-05

425

trace

trace

0.250

8.563

OBS-88-08

710

0.747

25.585

0.005

0.171

OBS-88-09

780

0.007

0.240

0.096

3.288

 

Note:  A factor of 34.25 was used to convert ounces per ton (oz/t) to grams per tonne (g/t).

Given the highly variable results, Syngold decided to re-run samples using a leaching procedure. It should be noted that assay certificates are not available for the leaching results and the data shows come discrepancies. The most significant variations reported were as follows:

Hole #

From (m)

To (m)

Length (m)

Sample #

Original (Au g/t)

Leaching (Au g/t)

OBS-87-03

331.3

332.8

1.5

7022

0.411

0.880

332.8

334.4

1.6

7023

0.103

2.170

334.4

335.9

1.5

7024

0.240

3.370

335.9

337.4

1.5

7025

0.103

0.770

337.4

338.9

1.5

7026

trace

0.230

338.9

339.9

1.0

7027

trace

0.480

339.9

346.6

6.7

-

0.254

3.434

339.9

341.4

1.5

7028

0.069

0.530

343.5

343.8

0.3

7030

1.713

0.470

343.8

345.3

1.5

7031

0.308

12.050

345.3

346.7

1.4

7032

0.137

2.280

346.7

348.4

1.7

7033

trace

0.520

364.2

365.4

1.2

7034

0.069

0.350

387.6

388.0

0.4

7035

0.103

2.080

434.6

434.9

0.3

7036

0.171

0.110

434.9

435.1

0.2

7037

trace

0.660

435.1

435.4

0.3

7038

0.069

1.750

452.9

453.5

0.6

7039

trace

0.500

453.5

454.2

0.7

7040

0.103

0.790

OBS-88-04

235.8

237.5

1.7

7031

13.357

11.988

OBS-88-05

178.9

179.5

0.6

0425

trace

8.570

179.5

183.5

4.0

7032

2.569

2.261

OBS-88-06

670.4

681.0

10.6

7033

0.240

0.514

OBS-88-08

508.2

514.3

5.1

7034

1.439

0.342

512.4

512.7

0.3

710

25.585

0.171

OBS-88-09

317.4

322.3

4.9

7035

0.617

2.055

319.1

320.3

1.2

780

0.239

3.288

OBS-88-10

594.5

604.1

9.6

7036

0.171

0.103

OBS-88-24

543.3

547.6

4.3

7027

0.445

1.165

OBS-88-26

355.3

372.6

17.3

7026

0.274

0.137

366.0

366.4

0.4

3660

2.569

4.727

381.7

385.9

4.2

7037

0.343

1.644

390.2

393.3

3.1

7040

0.582

0.788

OBS-88-27

467.1

480.8

13.7

7025

0.719

0.754

OBS-88-29

279.3

286.3

7.0

7023

5.857

2.158

281.7

282.0

0.3

3892

2.637

11.577

419.8

428.4

8.6

7024

2.055

3.357

OBS-88-30

375.9

381.1

5.2

7022

1.541

1.781

OB-xx-78

323.5

331.1

7.6

7038

1.781

1.747

332.6

336.2

3.6

7039

0.343

0.548

 

Note:  A factor of 34.25 was used to convert ounces per ton (oz/t) to grams per tonne (g/t).

Notably, leaching on samples from hole OBS-87-03 returned an average grade of 2.1 g/t Au over 17.1 m, from 331.3 m to 348.4 m (compared to 0.18 g/t Au for the original assays), including a 6.7-m section, from 339.9 m to 346.6 m, grading 3.43 g/t Au (compared to just 0.254 g/t for the original assay).

In its final report, Syngold recommended a series of three wedge cuts through the A-Po zone for holes OBS-88-26, OBS-88-27, OBS-88-29, OBS-88-30 and OB-83-78; these holes were selected with the goal of reducing the “nugget effect”.

2012-2015

From 2012 to 2015, David Malouf carried out very limited diamond drilling and stripping and channel sampling on the C zone. Significant results of economic interest were intersected by both the drilling and the channel sampling, which were aimed at testing previously reported gold values. The trench has since been filled in; the drill results were as follows:

Hole #

From (m)

To (m)

Core length * (m)

Au (g/t)

Ag (g/t)

Cu (%)

Zn (%)

DM-12-01

37.0

37.8

0.8

11.75

19.50

0.82

0.44

DM-12-02

33.6

34.2

0.6

2.19

5.40

0.16

0.03

DM-12-04

35.0

37.8

2.8

33.60

23.74

1.15

0.24

DM-12-05

45.0

46.7

1.7

14.86

16.95

0.83

0.03

DM-12-06

42.1

43.0

0.9

3.22

15.00

2.00

0.54

 

* The true width of the structure is about 71% of the core length.

Work done by TomaGold

In June 2016, TomaGold, in the process of acquiring the property, carried out limited geological mapping on mining concession CM-507 to locate the layered magnetite-rich zone and map the trenches (mineralized shears/quartz veins) and the scarce outcrops. Numerous old trenches were located outside of the main known structures. This work, along with the re-interpretation of previous magnetic surveys, confirmed that the stratigraphy within the Lac Doré Complex strikes roughly N-S on the property. Detailed contouring of the magnetic survey clearly indicates a moderate dip to the west of the layered zone of the Lac Doré Complex, which hosts the mineralization of economic interest. It is thought that the magnetite-rich layers may have acted as a typical iron formation for the deposition of gold mineralization. When alteration related to gold mineralization occurs in such environments, the magnetite is commonly replaced by sulphides (pyrrhotite). In the more recent drill logs, a substantial amount of pyrrhotite is described in association with the gold mineralization.

In 2017, TomaGold did limited surface drilling on the A zone/B zone intersection, with the following results:

Hole #

From (m)

To (m)

Core length * (m)

Au (g/t)

Ag (g/t)

Cu (%)

Zn (%)

OB-17-01

-

-

0.3

-

-

1.130

-

OB-17-02

-

-

2.0

15.0

46.8

10.4

-

OB-17-05

-

-

9.1

-

-

0.363

-

OB-17-06

-

-

4.4

-

-

0.819

-

OB-17-07

-

-

0.6

1.12

18.70

0.584

-

 

In 2017, TomaGold mandated P. Roy, a Chibougamau land surveyor, to locate the old casings on the old Obalski mine concession.

In June 2019, TomaGold retained the services of Tech-2-Mines and Ovalbay Geological Services to locate and compile all the exploration data available for the Obalski property. The objectives of the program were to:

  • Re-interpret the historical data to generate new drill targets.
  • Conduct a limited drilling program to test the new interpretation, including introducing blanks and standards into the assaying process and paying attention to the nugget effect described by Syngold.
  • Produce a NI 43-101-compliant technical report to audit the compilation of the previous data, complete data verification on the drill core from the new holes (as well as on core located for some of the holes drilled by Syngold, and holes drilled in 2012 and 2017) and make recommendations for future exploration.

From June 2019 to March 2020, most of the drill logs were located, entered into an Excel database and converted to metric, with the original hole numbers modified to include the year the hole was drilled. A surface compilation map was produced, along with a series of cross-sections at 30 m intervals from west to east, systematically covering the A-Po zone and the D, C, A, B and G zones.

The previous mineralized structures have been classified into two different families based on the mineralization and their orientation. The A, C and G zones strike 110° and show good copper values but lower gold grades than the D and B zones, which strike 080° and appear to cut and displace the older structures (A and C zones). The D zone is rich in gold with low copper values; whereas very limited sampling has been done on the B zone. The A-Po zone also strikes 110° but its mineralization and alteration appear different from that of the other 110°-striking structures, with local high gold and low copper content over large widths.

The (unaudited) database was also used to produce a preliminary 3D model of the mineralization on the Obalski property. It indicated that the A-Po zone is the western extension of the A and C zones, and confirmed that the D zone (shear and quartz veins) cut and displaced the older 110°-striking zones.

Recommendations for future exploration

The compilation work led to a recommendation for a limited diamond drilling program. Instead of “wedging” some of the holes as recommended by Syngold in its final report, the new holes would target the historical intersections, and would be drilled on the same cross-section but 30 metres above and 30 metres below the historical values.

The VMS potential of the Obalski property should not be overlooked, as the Waconichi Formation (hosting the old Lac Lemoine Mine and the Lac Scott deposit) is present in the northern portion of the property. Two holes drilled in 1951 to test the contact of the Lac Doré Complex with the surrounding mafic volcanics intersected significant stratigraphy: hole S-51-005 intersected mineralized rhyolite in contact with mafic volcanics and hole S-51-010 intersected a zone of massive sulphides (Po-Cpy) over a core length of 9.0 metres. An input anomaly also appears to identify this zone of massive sulphides.

In the area of the A-Po zone discovery hole (OBS-87-002) there is a weak electromagnetic (EM) conductor that was tested close to surface by holes O-39-29 to O-39-34. The presence of this conductor indicates that an induced polarization (IP) survey could be useful for testing the A-Po zone and its extensions at depth away from the power line. Old trenches in the vicinity of the EM anomaly should also be investigated.

2020 winter drilling program

TomaGold plans to carry out a seven-hole, 2,500-metre drilling program over the winter of 2020-21 to verify the historical results obtained for holes OBS-88-030, S-51-010 (which encountered massive sulphides) and OBS-87-002. The holes will be drilled on the same cross-sections as the old holes, 30 metres above and 30 metres below the historical values. The main goal is to better define the A-PO zone intersected on sections 120E and 450E, as only a few holes were drilled on these two sections, which lie 330 metres apart. The A-PO zone was intersected in three holes drilled on Section 120E and three holes drilled on Section 450E:

Hole

From (m)

To (m)

Length (m)

Au (g/t)

SECTION 120E

OBS-88-004

234.3

237.4

3.1

6.07

OBS-88-009

319.1

322.2

3.1

2.06

OBS-87-002

393.5

425.6

32.3

2.01

          Including

393.5

399.9

6.4

1.98

          Including

416.7

421.8

5.1

8.20

SECTION 450E

OBS-88-029

280.3

286.2

5.9

7.42

OBS-88-030

375.8

388.7

12.9

1.04

          Including

377.3

380.0

2.7

2.61

OBS-88-027

466.6

479.8

13.2

0.74

          Including

472.2

474.5

2.3

1.20

          Including

476.4

479.1

2.7

1.60

 

Note: Based on observations, true width is estimated at 60% of core length for longer holes and 80% for shorter holes.

Monster Lake East

Property description

TomaGold owns a 100% interest in the Monster Lake East property, which consists of 69 mineral claims covering an area of 4,269 hectares. The property is located directly to the east of the Monster Lake property and is divided into three sectors: Cookie Monster, Little Monster and Monster Island.

Exploration work by TomaGold

In November 2015, the Company initiated a high-definition magnetic VTEM-type airborne survey over the Monster Lake East and Hazeur properties. The survey revealed strong electromagnetic anomalies, including some that had already been identified by IAMGOLD on the Monster Lake property and which extend onto TomaGold's properties.

In December 2015, TomaGold carried out an initial drilling program consisting of 11 holes totalling 1,783 metres. The goal of the program was to test some of the anomalies identified 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.

In February 2018, TomaGold carried out a partial airborne survey over a large copper geochemical anomaly that was discovered by a government survey. It also began cutting a grid of 20 km of lines, including a 4 km baseline, and retained Abitibi Geophysics to conduct a detailed IP survey to explore the anomaly to a depth of 300 m.

Furthermore, a detailed compilation has begun on the Monster Lake East / Hazeur properties to correlate all the detailed airborne and ground geophysical survey data with recent stratigraphic and structural interpretations. Detailed information from recent drilling by TomaGold will also be incorporated to the interpretation, which will generate drilling recommendations.

Monster Lake West

Property description
TomaGold owns a 100% interest in the Monster Lake West property, which consists of 21 mineral claims covering an area of 1,172.51 hectares. The property is located directly to the west of the Monster Lake property.

Hazeur

Property description

TomaGold has a 70% interest in the Hazeur property. The Hazeur property consists of 61 mineral claims covering an area of 2,863 hectares, located on the southern border of the Monster Lake property. TomaGold is the project operator.

Exploration work by TomaGold

In November 2015, the Company initiated a high-definition magnetic VTEM-type airborne survey over the Monster Lake East and Hazeur properties. The survey revealed strong electromagnetic anomalies, including some that had already been identified by IAMGOLD on the Monster Lake property and which extend onto TomaGold's properties.

In February 2018, a detailed compilation has begun on the Monster Lake East / Hazeur properties to correlate all the detailed airborne and ground geophysical survey data with recent stratigraphic and structural interpretations. Detailed information from recent drilling by TomaGold will also be incorporated to the interpretation, which will generate drilling recommendations.

Lac Doda

Property description

TomaGold owns a 100% interest in the Monster Lac Doda, which consists of 80 mineral claims covering an area of 4,478 hectares. The property is located approximately 20 km southwest of the Monster Lake property. On July 9, 2020, the Corporation announced the signing of an option agreement for the sale of up to an 80% interest in the Lac Doda Property to Goliath Resources Limited (TSXV: GOT).

Baird

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).