Welcome!

News Feed Item

TomaGold Corporation: IAMGOLD Provides Update on the Drilling Program on the Monster Lake Project

MONTREAL, QUEBEC -- (Marketwired) -- 05/27/14 -- IAMGOLD Corporation ("IAMGOLD" or the "Company") today provided an update from ongoing exploration activities at its newly optioned Monster Lake project located 50 kilometres southwest of Chibougamau, Quebec, Canada. IAMGOLD initiated the current exploration program on the project at the end of 2013 pursuant to an Earn-In Agreement finalized with TomaGold Corporation (TSX VENTURE:LOT), in which IAMGOLD may earn a 50% interest in each of the Monster Lake, Winchester and Lac a l'eau jaune properties, collectively referred as the Monster Lake Project. To earn its interest IAMGOLD must complete scheduled cash payments and exploration expenditures totaling US$17.6 million over five years.

The company has completed a phase one diamond drilling program totalling 4,528 metres (nine holes) targeting the direct down-dip and lateral extensions of the 325-Megane mineralized zone previously drilled by TomaGold. Assay results have been received for five drill holes totalling 2,835 meters and are provided in Table I below. A drill hole plan map and longitudinal section are attached to this news release.

Highlights include:


--  10.47 metres grading 11.55 g/t Au from 457.0 metres depth (including
    48.90 g/t Au over 2.0 metres) in hole ML-14-108 (325-Megane Zone), 
    
--  Intersection of a footwall zone grading 13.65 g/t Au over 3.77 metres
    from 636.86m depth, including 46.0 g/t Au over 1.1 metres in hole ML-14-
    110 (referred to as the Lower 325-Megane Zone) 

The drilling to date has confirmed the presence of three sheared, altered and mineralized zones: the Upper 325-Megane Zone (new identified structure), the 325-Megane Zone previously outlined by TomaGold's most recent drilling and the Lower 325-Megane Zone (tested only in a few areas by previous drilling). With the limited drilling completed to date, the three zones appear sub-parallel and are spaced approximately 100 metres apart. The targeted 325-Megane Zone is interpreted to be hosted within a regional shear zone that can be traced along strike within the current property.

Craig MacDougall, Senior Vice President, Exploration for IAMGOLD, stated, "Our exploration program is targeting high grade mineralization and I am very encouraged with these initial results from only our first drilling program. Our exploration team continues to target possible extensions of the 325-Megane Zone and has already confirmed the presence of other mineralized zones. Work will continue to focus on identifying additional targets with potential for the discovery of new high grade zones."

The Monster Lake project is underlain by Archean volcanic rocks of the Obatogamau Formation and is traversed by an important deformation corridor and gold-bearing mineralized structures. Historical drilling and recent success by TomaGold have identified at least a four-kilometre long mineralized structure hosting most of the gold surface showings and diamond drilling intersections, including the 325-Megane Zone.

Next Steps

The Company's approved 2014 exploration program for the Monster Lake project includes a minimum of 8,000 metres of diamond drilling. A summer mapping program is getting underway to help delineate and confirm priority targets in the central core of the Monster Lake property and in the regional extension of the deformation corridor on the Lac a l'eau jaune and Winchester properties. Further detailed assessment of historic gold occurrences will be carried out. The recently completed high resolution airborne magnetic survey will also help to develop a structural framework to identify target areas for further exploration.

Technical Information and Quality Control Notes

The drilling results contained in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").

The "Qualified Person" responsible for the supervision of the preparation and review of this information is Marie-France Bugnon, P. Geo., General Manager Exploration. Marie-France is considered a "Qualified Person" for the purposes of National Instrument 43-101 with respect to the technical information being reported on. The technical information has been included herein with the consent and prior review of the above noted Qualified Person. The Qualified person has verified the data disclosed, and data underlying the information or opinions contained herein.

The sampling of, and assay data from, drill core is monitored through the implementation of a quality assurance - quality control (QA-QC) program designed to follow industry best practice. Drill core (NQ size) samples are selected by the IAMGOLD geologists and sawn in half with a diamond saw at the project site. Half of the core is retained at the site for reference purposes. Sample intervals may vary from half a metre to one and a half metres in length depending on the geological observations.

Samples are transported in sealed bags to the AGAT Laboratory prep lab facility in Val-d'Or, Quebec. Samples are coarse crushed to a -10 mesh and then a 1000 gram split is pulverized to 95% passing -150 mesh. Analytical pulps are forwarded for analysis at the AGAT Laboratories (ISO / IEC 17025 Certified by the Standards Council of Canada) in Mississauga, Ontario. Samples are analyzed using a standard fire assay with a 50 gram charge with an Atomic Absorption (AA) finish. For samples that return assay values over 5.0 grams per tonne (g/t), another pulp is taken and fire assayed with a gravimetric finish. Core samples showing visible gold or samples which have returned values greater than 10.0 g/t are re-analyzed by pulp metallic analysis. IAMGOLD inserts blanks and certified reference standard in the sample sequence for quality control.

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 made 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 these "forward-looking" statements.

Table 1


----------------------------------------------------------------------------
    Monster Lake Project Drilling Results - 2014 Winter Drilling program    
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Hole No.                        UTMNAD83Zone18(1)       AZ      DIP      EOH
----------------------------------------------------------------------------
                 Easting    Northing    Elevation                        (m)
----------------------------------------------------------------------------
ML-14-108         520296     5488383          370      290      -55      480
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
Including(3)                                                                
----------------------------------------------------------------------------
Including(3)                                                                
----------------------------------------------------------------------------
ML-14-109         520316     5488270          370      290      -55      582
----------------------------------------------------------------------------
Including(3)                                                                
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
ML-14-110         520302     5488169          370      290      -50      667
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
Including(3)                                                                
----------------------------------------------------------------------------
ML-14-111         520318     5488324          370      290      -60      454
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
ML-14-112         520315     5488321          370      291      -53      652
----------------------------------------------------------------------------
Including(3)                                                                
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Hole No.         from       To Interval      True        Au NOTE            
                                         Width(2)                           
----------------------------------------------------------------------------
                  (m)      (m)      (m)       (m)     (g/t)                 
----------------------------------------------------------------------------
ML-14-108       56.10    58.00     1.90      1.65      1.81 Upper 325-Megane
                                                            Zone            
----------------------------------------------------------------------------
               445.25   446.50     1.25      1.08      6.44                 
----------------------------------------------------------------------------
               457.00   467.47    10.47      9.07     11.55 325-Megane Zone 
----------------------------------------------------------------------------
Including(3)   458.00   460.00     2.00      1.73     48.90                 
----------------------------------------------------------------------------
Including(3)   466.00   467.47     1.47      1.27     11.10                 
----------------------------------------------------------------------------
ML-14-109       66.00    71.16     5.16      4.47      1.30 Upper 325-Megane
                                                            Zone            
----------------------------------------------------------------------------
Including(3)    69.00    71.16     2.16      1.87      1.64 Upper 325-Megane
                                                            Zone            
----------------------------------------------------------------------------
               559.77   560.41     0.64      0.55      0.95 325-Megane Zone 
----------------------------------------------------------------------------
ML-14-110      210.10   211.26     1.16      1.00      1.04                 
----------------------------------------------------------------------------
               508.00   509.45     1.45      1.26      0.71 325-Megane Zone 
----------------------------------------------------------------------------
               636.86   640.63     3.77      3.26     13.65 Lower 325-Megane
                                                            Zone            
----------------------------------------------------------------------------
Including(3)   638.80   639.88     1.08      0.94     46.17                 
----------------------------------------------------------------------------
ML-14-111       59.59    60.13     0.54      0.47      3.48 Upper 325-Megane
                                                            Zone            
----------------------------------------------------------------------------
               300.92   301.92     1.00      0.87      1.40 325-Megane Zone 
----------------------------------------------------------------------------
               420.18   421.16     0.98      0.85      1.85 Lower 325-Megane
                                                            Zone            
----------------------------------------------------------------------------
ML-14-112      480.90   489.27     8.37      7.25      1.32 325-Megane Zone 
----------------------------------------------------------------------------
Including(3)   485.18   487.27     2.09      1.81      2.97                 
----------------------------------------------------------------------------
               596.51   597.65     1.14      1.00      1.48 Lower 325-Megane
                                                            Zone            
----------------------------------------------------------------------------

Notes:


1.  Drill hole intercepts are calculated with a lower cut of 0.50 g/t Au and
    represents the best results associated to the intersected structure. 
2.  True widths of intersections are approximately 85-90% of the core
    interval. 
3.  Assays are reported uncut but high grade sub-intervals are highlighted. 

Maps are available at the following address: http://media3.marketwire.com/docs/948195_Map_ENG.pdf

Contacts:
TomaGold Corporation
David Grondin
President and Chief Executive Officer
(514) 206-7727
www.tomagoldcorp.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"Avere Systems is a hybrid cloud solution provider. We have customers that want to use cloud storage and we have customers that want to take advantage of cloud compute," explained Rebecca Thompson, VP of Marketing at Avere Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Large scale deployments present unique planning challenges, system commissioning hurdles between IT and OT and demand careful system hand-off orchestration. In his session at @ThingsExpo, Jeff Smith, Senior Director and a founding member of Incenergy, will discuss some of the key tactics to ensure delivery success based on his experience of the last two years deploying Industrial IoT systems across four continents.
Ovum, a leading technology analyst firm, has published an in-depth report, Ovum Decision Matrix: Selecting a DevOps Release Management Solution, 2016–17. The report focuses on the automation aspects of DevOps, Release Management and compares solutions from the leading vendors.
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
"This week we're really focusing on scalability, asset preservation and how do you back up to the cloud and in the cloud with object storage, which is really a new way of attacking dealing with your file, your blocked data, where you put it and how you access it," stated Jeff Greenwald, Senior Director of Market Development at HGST, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busin...
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
"We formed Formation several years ago to really address the need for bring complete modernization and software-defined storage to the more classic private cloud marketplace," stated Mark Lewis, Chairman and CEO of Formation Data Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
Redis is not only the fastest database, but it is the most popular among the new wave of databases running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 19th Cloud Expo, Dave Nielsen, Developer Advocate, Redis Labs, will share the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics. In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, discussed using predictive analytics to mon...
Most organizations prioritize data security only after their data has already been compromised. Proactive prevention is important, but how can you accomplish that on a small budget? Learn how the cloud, combined with a defense and in-depth approach, creates efficiencies by transferring and assigning risk. Security requires a multi-defense approach, and an in-house team may only be able to cherry pick from the essential components. In his session at 19th Cloud Expo, Vlad Friedman, CEO/Founder o...
"We host and fully manage cloud data services, whether we store, the data, move the data, or run analytics on the data," stated Kamal Shannak, Senior Development Manager, Cloud Data Services, IBM, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...