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
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Information technology (IT) advances are transforming the way we innovate in business, thereby disrupting the old guard and their predictable status-quo. It’s creating global market turbulence. Industries are converging, and new opportunities and threats are emerging, like never before. So, how are savvy chief information officers (CIOs) leading this transition? Back in 2015, the IBM Institute for Business Value conducted a market study that included the findings from over 1,800 CIO interviews ...
Virtualization over the past years has become a key strategy for IT to acquire multi-tenancy, increase utilization, develop elasticity and improve security. And virtual machines (VMs) are quickly becoming a main vehicle for developing and deploying applications. The introduction of containers seems to be bringing another and perhaps overlapped solution for achieving the same above-mentioned benefits. Are a container and a virtual machine fundamentally the same or different? And how? Is one techn...
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, will discuss the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information,
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, will present an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He will expound on the industry issues he frequently came up against as an analyst, and...
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...
ChatOps is an emerging topic that has led to the wide availability of integrations between group chat and various other tools/platforms. Currently, HipChat is an extremely powerful collaboration platform due to the various ChatOps integrations that are available. However, DevOps automation can involve orchestration and complex workflows. In his session at @DevOpsSummit at 20th Cloud Expo, Himanshu Chhetri, CTO at Addteq, will cover practical examples and use cases such as self-provisioning infra...
The financial services market is one of the most data-driven industries in the world, yet it’s bogged down by legacy CPU technologies that simply can’t keep up with the task of querying and visualizing billions of records. In his session at 20th Cloud Expo, Jared Parker, Director of Financial Services at Kinetica, will discuss how the advent of advanced in-database analytics on the GPU makes it possible to run sophisticated data science workloads on the same database that is housing the rich inf...
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
Apache Hadoop is emerging as a distributed platform for handling large and fast incoming streams of data. Predictive maintenance, supply chain optimization, and Internet-of-Things analysis are examples where Hadoop provides the scalable storage, processing, and analytics platform to gain meaningful insights from granular data that is typically only valuable from a large-scale, aggregate view. One architecture useful for capturing and analyzing streaming data is the Lambda Architecture, represent...
Things are changing so quickly in IoT that it would take a wizard to predict which ecosystem will gain the most traction. In order for IoT to reach its potential, smart devices must be able to work together. Today, there are a slew of interoperability standards being promoted by big names to make this happen: HomeKit, Brillo and Alljoyn. In his session at @ThingsExpo, Adam Justice, vice president and general manager of Grid Connect, will review what happens when smart devices don’t work togethe...
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), will provide an overview of various initiatives to certifiy the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldw...
Adding public cloud resources to an existing application can be a daunting process. The tools that you currently use to manage the software and hardware outside the cloud aren’t always the best tools to efficiently grow into the cloud. All of the major configuration management tools have cloud orchestration plugins that can be leveraged, but there are also cloud-native tools that can dramatically improve the efficiency of managing your application lifecycle.