Drilling Program Commences At Monster Lake 

 

MONTREAL, Tomagold Corporation reported that IAMGOLD Corporation has confirmed that an initial resource estimate is under way for its Monster Lake joint venture project (IAMGOLD: 50%, TomaGold: 45%, and Quinto Resources Inc.: 5% on the Monster Lake block of claims), located 50 kilometers southwest of Chibougamau, Quebec, Canada. The estimate, which will be performed in accordance with National Instrument 43-101, will be based on data from more than 80,000 meters of drilling completed by IAMGOLD, TomaGold and previous explorers, including approximately 38,000 meters from the 325-Megane zone area. The estimate will be supported by a 43-101 technical report.

IAMGOLD also commenced its 2018 exploration program which will include this winter the completion of approximately 7,500 meters of diamond drilling on the Monster Lake property. The drilling program includes: definition drilling targeting the upper part of the 325-Megane zone; testing for extensions along strike and at depth; and evaluation of newly discovered areas of mineralization adjacent to the 325-Megane zone along the Monster Lake structural corridor and in the Lower Shear zone. The program is designed to improve confidence and extend the known mineralized zones. Drilling has started.

"We are delighted that IAMGOLD has initiated a first resource estimate for Monster Lake," said David Grondin, President and Chief Executive Officer of TomaGold. "This will mark a significant milestone in the exploration of the Monster Lake project. In addition, IAMGOLD continues to advance its ongoing exploration of the property, with a new drilling program targeting high-potential targets for additional mineralization. Together with the resource estimate, this drilling program will continue to advance the Monster Lake project significantly."