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SISM Investors Issues TomaGold Corporation Update

TomaGold Announced The Discovery Of Significant Gold-bearing Structures At Obalski

Company Overview November 11, 2021

Based in Montreal, TomaGold is a junior mining exploration company focused on maximizing shareholder value through the acquisition and exploration activities conducted in mining-friendly jurisdictions Quebec and Ontario. LOT owns 100% working interests in five gold properties in Quebec and one gold property in Ontario, with promising exploration potential. TomaGold focuses on its wholly-owned Obalski project, located 3 km south of Chibougamau. The first phase of an 11,500-meter drilling program targeting deeper structures was very successful, allowing the Company to intersect much larger structures than previously identified and very important the structures are widening at depth. Yesterday, LOT reported the discovery of significant gold-bearing structures at Obalski. The current gyroscopic survey program will help guide the next exciting drilling phase, which will begin this month to understand better the mineral potential targeting at even deeper structures. We rate TomaGold as a SPECULATIVE BUY; the Company is fully funded to execute its ongoing drilling program at Obalski.

TomaGold Corp. Leaseholds in Quebec and Ontario

Drilling Information Obalski Project

INVESTMENT HIGHLIGHTS

♦️ TomaGold’s winter exploration program on its wholly-owned Obalski property started in December 2020 and ended in February 2021. The program consisted of seven holes, six of which were drilled on two separate sections (450 E and 120 E), while the seventh hole was designed to test the rock type at the eastern property boundary and, as expected, did not return any significant values. The program’s goal was to define the A-Po zone better and intersect the A, C, and D zones, some of which had already been mined underground and been the subject of minor surface work. TomaGold reported very promising results. Hole OBS-20-003 on the A-Po N intersected 47.4 g/t Au, 87.6 g/t Ag, and 7.06% Cu over 1.1 meters. The initiated winter drilling program appeared to confirm the continuity of the A-Po North and South zones, warranting an even larger follow-up program.

♦️ In July 2021, TomaGold started its 11,500-metre drilling program to define the A-Po zone by drilling every 50 meters between sections 120 E and 450 E to a vertical depth of at least 500 meters, with some holes reaching a vertical depth of 650 meters. Before defining the drilling program, the Company conducted a four-hole Pulse Electromagnetic (EM)  geophysical survey to optimize the chances of success. Combined with the historical drill results compiled in 2020, this allowed TomaGold better to define the parameters of the next drilling program.

♦️  Based on the latest drilling information, the first phase of its drilling program targeting deeper structures was very successful as TomaGold intersected much larger structures than previously identified. It appears that Obalski has excellent potential at depth. Drill highlights include several large intersections; for example, hole OBS-21-009 confirmed 1.41 g/t Au over 28.50 m, including 6.84 g/t Au over 1.50 m and 4.03 g/t Au over 4.50 m. hole OBS-21-010A: 0.33 g/t Au over 54.80 m, including 1.44 g/t Au over 3.50 m. The upcoming drilling program starting this month will be very exciting.

♦️ In July 2021, TomaGold initiated a large 10’000-meter expansion drilling program on Obalski, aiming to define the A-Po zone by drilling every 50m between sections 120 E and 450 E to a vertical depth of at least 500m, with some holes reaching a vertical depth of 650m. The A-Po Zone on sections 450 E showed strong winter drilling results with hole OBS-20-002 confirmed 47.4 g/t Au, 87.6 g/t Ag and 7.06% Cu over 1.1 meters, and 67.1 g/t Au, 40.1 g/t Ag, and 2.32% Cu over 0.5 meters. On section 120 E which is located 330 meters apart from 450 Em three holes were drilled in the winter drilling program 2020, and hole OBS-21-005 confirmed the following results: 23.7 g/t Au and 24.5 g/t Ag over 0.5 metersThese drilling results are an excellent indication of promising gold potential on this project.

♦️ Gold and silver mineralization is hosted within multiple styles, including high-grade vein, porphyry veinlet, breccia, and disseminated systems. Based on Pulse-EM survey results, combined with Corem’s research services and analysis of some historical samples, the Obalski property comprises gold-bearing vein structures. These structures appear to amplify at depth in the form of veinlets. TomaGold’s main focus for exploration is to understand better the mineral potential targeting at deeper structures.  At the time of this writing, the Company is undertaking an extensive gyroscopic survey program on historic drill holes that are more than 100 meters deep, targeting the deep A-Po Zone at vertical depths ranging from 300 to 650 meters and even some three holes targeting 1,000-meter.

♦️ The Company’s Pulse-EM geophysical survey conducted in June 2021 revealed significant differences between the current location of the gold-bearing structures at depth and those reported by previous operators. Historic holes deviated approximately 50 to 100 meters from targeted zones. The new gyroscopic survey program provides fast measurement results with an accuracy of about 1.6 cm at a one-kilometer distance. This survey with the newest high accuracy and inexpensive exploration technology will help guide the next exciting phase of drilling on Obalski, which will begin in mid-November 2021. The current exploration program has been expanded from 10,000 meters to 11,500 meters of drilling following a reassessment of the drill targets. TomaGold has more than $5 mil. in working capital and can finance the ongoing drilling program without raising capital and diluting its shareholders. The share price trades at 0.9 times book value, and the Obalski project’s true value is not reflected in the stock price.

TomaGold Research Summary to Download in PDF

Read Our Blogs

TomaGold Discovers Gold-Bearing Structures at Obalski and Intersects 1.41 g/t Au over 28.50 m

November 10, 2021 07:00 ET | Source: TomaGold Corporation Drill highlights include several large intersections including: Hole OBS-21-009: 1.41 g/t Au over 28.50 m, including 6.84 g/t Au over 1.50 m and 4.03 g/t Au over 4.50 m Hole OBS-21-010A: 0.33 g/t Au over 54.80 m, including 1.44 g/t Au over 3.50 m Hole OBS-21-010: 0.32 g/t …

TomaGold Discovers Gold-Bearing Structures at Obalski and Intersects 1.41 g/t Au over 28.50 m Read More »

TomaGold announces the start of a gyroscopic survey program on Obalski’s historical drill holes at depth

TomaGold CorporationThu, November 4, 2021, 12:00 PMIn this article: TOGOF0.00% Explore the topics mentioned in this article TomaGold Corporation Figure 1: Interpretation of June 2021 Pulse-EM survey on Obalski project The results of the Pulse-EM geophysical survey conducted in June 2021 revealed significant differences between the current location of the gold-bearing structures at depth and …

TomaGold announces the start of a gyroscopic survey program on Obalski’s historical drill holes at depth Read More »

TomaGold expands Obalski drilling program to 11,500 metres

MONTREAL, Sept. 20, 2021 (GLOBE NEWSWIRE) — TOMAGOLD CORPORATION (TSXV: LOT) (OTCQB: TOGOF) (“TomaGold” or the “Corporation”) is pleased to provide an update on the drilling program on its wholly-owned Obalski property, located 3 km south of Chibougamau. The program, which started on July 10, 2021, has been expanded from 10,000 metres to 11,500 metres of drilling …

TomaGold expands Obalski drilling program to 11,500 metres Read More »

TomaGold now trading on OTCQB Venture Market

MONTREAL, Sept. 15, 2021 (GLOBE NEWSWIRE) — TOMAGOLD CORPORATION (TSXV: LOT) (OTCQB: TOGOF) (“TomaGold” or the “Corporation”) is pleased announce that it has qualified to trade on the OTCQB® Venture Market. TomaGold upgraded to OTCQB® Venture Market from the Pink® market and began trading today on the OTCQB under the symbol TOGOF and will remain listed on the TSX Venture …

TomaGold now trading on OTCQB Venture Market Read More »

SISM Research Issues TomaGold Corporation Summary

TomaGold Starts To Prove Up its Assets By An Expansion Drilling Program on the Obalski Property Zurich, Switzerland and Montreal, Canada, August 18, 2021  — Ernest C. Schlotter, a senior analyst with Zurich, Switzerland-based SISM Investors, and a four-star analyst according to StarMine, a Thomson Reuters Company,has issued a one-page Summary on TomaGold Corporation. (TSXV: …

SISM Research Issues TomaGold Corporation Summary Read More »

SISM Investors Issues TomaGold Corporation Summary

TomaGold Starts To Prove Up its Assets By An Expansion Drilling Program on the Obalski Property

Company Overview August 17, 2021

Based in Montreal, Canada, TomaGold is a junior mining exploration company focused on maximizing shareholder value through the acquisition and exploration activities conducted in mining-friendly jurisdictions Quebec and Ontario. In 2020, TomaGold sold a minority interest of 25% to NYSE-listed Iamgold (IAG) for a transaction value of $8.5 million in cash and stocks, allowing LOT to move on to unlock the resource potential on their other properties. TomaGold owns 100% working interests in five gold properties in Quebec and one gold property in Ontario, with solid exploration potential. TomaGold’s focus is on the Obalski project, high-grade and promising results from winter 2020 drilling warranting a larger drilling program to define the project potential. The expansion 10’000-meter drilling program has started in July. TomaGold has more than $7 mil. in working capital and can finance the ongoing drilling program without raising capital and diluting its shareholdersThe share price trades for less than its book value and the true value of the Obalski project is not reflected in the stock price.

INVESTMENT HIGHLIGHTS

♦️ TomaGold has interests in five gold properties near the Chibougamau mining camp in northern Quebec: Obalski 100% Working Interest (WI) on (345 hectares), Monster Lake East 100% WI (5,867 hectares), Monster Lake West 100% WI on (1,172 hectares), the Hazeur’s properties 70% WI on (2,975 hectares) and Lac Doda 100% WI on (4,478 hectares). In Ontario, LOT participates in a joint venture and hold a 24.5% working interest in the Baird property (90 hectares), near Red Lake.

♦️ TomaGold teamed up with impressive strategic partners, including two NYSE-listed companies Iamgold (IAG) and New Gold Inc. (NGD).In November 2020, the Company sold its remaining 25% of Monster Lake stake to IAG for $8,5 million. In Ontario, in the resource-rich Baird property near the Red Lake mining camp, LOT JV-partners include Australia-based Evolution Mining (ASX: EVN), a A$7.5B market cap company with a 24.5% WI, and New Gold Inc. a $1.1B market cap company, the operator on this project, owning the remaining 51% interest. 

♦️  The Company’s exploration focus is on the gold Obalski-project near the Chibougamau mining camp in Quebec.The Obalski discovery goes back to 1928, and the deposit produced between 1964 to 1972 100,273 tonnes at grades of 1.14% copper, 2.08 g/t gold, and 6.04 g/t silver from the A zone, and around 9,000 tonnes during 1984 at a reported grade of 8.5 g/t Au from the D zone. In December 2020, TomaGold initiated a three-month 2,500-meter drilling program on the property targeting A, C, D, and A-Po zones to unlock the mineral potential. TomaGold drilled seven holes, and excellent high-grade gold and copper values have been reported. Based on the history and new drilling results, the project has a significant chance for a substantial economic potential.

♦️ In July 2021, TomaGold initiated a large 10’000-meter expansion drilling program on Obalski, aiming to define the A-Po zone by drilling every 50m between sections 120 E and 450 E to a vertical depth of at least 500m, with some holes reaching a vertical depth of 650m. The A-Po Zone on sections 450 E showed strong winter drilling results with hole OBS-20-002 confirmed 47.4 g/t Au, 87.6 g/t Ag and 7.06% Cu over 1.1 meters, and 67.1 g/t Au, 40.1 g/t Ag, and 2.32% Cu over 0.5 meters. On section 120 E which is located 330 meters apart from 450 Em three holes were drilled in the winter drilling program 2020, and hole OBS-21-005 confirmed the following results: 23.7 g/t Au and 24.5 g/t Ag over 0.5 metersThese drilling results are an excellent indication of promising gold potential on this project.

♦️ TomaGold further strengthens its leaseholds around the Obalski and Monster Lake properties and we expect some drillings, once the work on Obalski is completed. TomaGold signed an agreement in April 2021 to acquire 46 claims located just south of the Obalski property. The company has 151 wholly-owned claims covering 8,304 hectares (83 km2) situated around the Iamgold deposit.

♦️ TomaGold recorded net earnings of $ 4,5 mil (or $0.031 per share) for nine months, resulting in selling exploration and evaluation assets to Iamgold. The Company has more than $7 million in working capital and can finance the ongoing drilling program without raising capital and diluting its shareholders. The share price trades for less than its book value, and the Obalski project’s true value is not reflected in the Company’s stock price. We start covering TomaGold and work on an extensive research report, available within the next twenty to thirty days.

Consolidated Statements of Operation(in C$)

  Nov-30
2020
Feb-28
2021
Mai-31
2021
Revenues 0 0 0
Gain on Assets 4,833,238 -787,061 1,431,009
Operating Profit 4,349,210 -1,035,498 1,199,707
Financial Exp. 6,960 0 0
Other Income 0 0 0
Net Loss/Profit 4,342,250 -1,035,498 1,199,707
EPS $0.031 -$0.007 $0.008

Consolidated Balance Sheets in (in C$)

Assets: August 31, 2020A May 31, 2021A
Cash 33,387 62,405
Term Deposit 20,019 20,019
Other Receivables 748,326 61,642
Marketabel Securities Mining Entities 1,339,410 8,116,788
Prepaid Expenses 3,451 125,404
  2,144,592 8,386,258
     
Non Current Asset    
Warrants in a quoted Mining Co. 103,824 446,517
Exploration & Evaluation Assets 3,951,761 3,346,003
Property and Equitpment 3,851 6,378
  4,059,436 3,798,898
Total Assets 6,204,029 12,185,156
     
Liabilities:    
Trade ad other Payables 709,550 205,149
Credit Margin   300,000
Loan 25,355 25,355
Total Liabilities 734,905 530,504
     
Total Shareholder,s Equity 5,469,124 11,654,652
     

TomaGold Research Summary to Download in PDF

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