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
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 21st International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo Silicon Valley Call for Papers is now open.
This talk centers around how to automate best practices in a multi-/hybrid-cloud world based on our work with customers like GE, Discovery Communications and Fannie Mae. Today’s enterprises are reaping the benefits of cloud computing, but also discovering many risks and challenges. In the age of DevOps and the decentralization of IT, it’s easy to over-provision resources, forget that instances are running, or unintentionally expose vulnerabilities.
SYS-CON Events announced today that Twistlock, the leading provider of cloud container security solutions, will 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. Twistlock is the industry's first enterprise security suite for container security. Twistlock's technology addresses risks on the host and within the application of the container, enabling enterprises to consistently enforce security policies, monitor...
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.
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to ov...
SYS-CON Events announced today that Enzu will 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, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive ad...
Everywhere we turn in our industry we can find strong opinions about the direction, type and nature of cloud’s impact on computing and business. Another word that is used in every context in our industry is “hybrid.” In his session at 20th Cloud Expo, Alvaro Gonzalez, Director of Technical, Partner and Field Marketing at Peak 10, will use a combination of a few conceptual props and some research recently commissioned by Peak 10 to offer a real-world consideration of how the various categories of...
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. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
SYS-CON Events announced today that Interoute has been named “Bronze Sponsor” of 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. Interoute is the owner operator of Europe's largest network and a global cloud services platform, which encompasses over 70,000 km of lit fiber, 15 data centers, 17 virtual data centers and 33 colocation centers, with connections to 195 additional partner data centers. Our full-service Unifie...
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will 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. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus intern...
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, will 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. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...