TomaGold Corporation (TSXV:LOT) is a Canadian-based mineral exploration and development company active near the Northern Quebec gold mining camps.
TomaGold has a current portfolio of ten gold projects and holds and controls a dominant land position around the Monster Lake area (275 claims for 13,094 hectares), near Chibougamau’s gold mining camp. The Company recently signed a deal with IAMGOLD whereas IAMGOLD (TSX: IMG; NYSE: IAG) has an option to earn a 50% interest in the Monster Lake, Winchester and Lac à l´eau jaune properties for a total of $17.575 in exploration work and cash payments over five years.
- Current portfolio of ten gold projects, including seven projects in the Monster Lake area
- Operating in one of the safest and mining-friendly areas
- IAMGOLD has a 5-year option to earn a 50% interest in each of the Monster Lake, Winchester and Lac à l’eau jaune properties for a total of $17.575 million
- TomaGold has a 4-year option to acquire a 70% interest in each of the Fancamp and Embry properties from Murgor Resources Inc.
- Acquisition of the Little Monster and Cookie Monster properties
- Company initiated a 3,200 drilling program on the Fancamp, Little Monster and Cookie Monster properties in November 2013
- Experienced and financially-committed management and directors
The Monster Lake property is located in northwestern Quebec, 44 kilometres southwest of the town of Chibougamau. The property consists of 114 mineral claims covering an area of 3,336 hectares, and is easily accessible by road with adequate access to hydroelectric power. There is a strong high-grade gold potential as over 20 drill intersections returned grades ranging from 10.0 to 237.6 g/t Au.
In November 2013, TomaGold announced that an option agreement has been finalized whereby IAMGOLD may earn a 50% interest in each of the Monster Lake, Winchester and Lac à l´eau jaune properties for a total of $17.575 million, including $16 million in exploration work and $1.575 million in payments over five years.
In October 2013, TomaGold acquired an option to earn a 70% interest in the Fancamp property from Murgor Resources Inc. Fancamp consists of 43 claims covering 1,710 hectares, and is adjacent to the eastern edge of the Monster Lake, Cookie Monster and Little Monster properties in the Fancamp deformation corridor, which hosts the Murgor A, B and C zones.
Results of historical exploration work on Fancamp in the mid-1980s:
Zone A: 8.22 g/t Au over 6.10 m
5.14 g/t Au over 3.36 m
4.60 g/t Au over 3.05 m
Zone B: 9.30 g/t Au over 8.20 m
Cookie Monster and Little Monster
TomaGold acquired the Cookie Monster and Little Monster properties in October 2013. The Cookie Monster property consists of 28 claims covering a total of 1,456 hectares, and the Little Monster property consists of 20 claims covering a total of 1,040 hectares. The two properties are adjacent to each other and contiguous to the Monster Lake property to the east.
In October 2013, TomaGold acquired an option to earn a 70% interest in the Embry property from Murgor Resources Inc. The Embry property lies 8 km northeast of Monster Lake, and consists of 52 claims covering 2,895 hectares.
In 2009, Murgor carried-out a helicopter borne high-resolution magnetic survey over the Embry Property, which was followed by a large-scale till geochemistry survey. Intriguing corridors of anomalous gold in till were uncovered by the exploration program, coinciding with NE-trending structures interpreted from the magnetic survey.
TomaGold Corporation is active in the mineral exploration and development for gold in northern Quebec. Its current portfolio includes the Fancamp and Embry properties (joint venture with Murgor Resources), Cookie Monster, Little Monster, and Monster Lake , Winchester and Lac à l´eau jaune (joint venture with IAMGOLD). Drilling on Fancamp, Cookie Monster, and Little Monster will commence in November 2013.
David Grondin – President and Chief Executive Officer
David Grondin has over fifteen years of experience in the financial and mining industries. From 1997 to 2000, he worked as a financial analyst for CTI Capital Inc. He has also been the president, chief executive officer and a director of NQ Exploration (TSX-V: NQE) since November 2007, and a director of Kilkenny Capital Corporation, a venture capital company listed on the TSX Venture Exchange, since August 2011. Mr. Grondin has a bachelor’s
degree in business administration from HEC Montréal.
Maurice Giroux, Geo. – Vice President of Exploration and Director
Maurice Giroux is a professional geologist with over thirty years of experience in international mineral exploration. He has supervised exploration programs, developed mid- sized mining operations and established and maintained strong business relationships in many African countries. He has been the president and chief executive officer of Stellar Pacific Ventures Inc. (TSX-V: SPX) since December 15, 2009.
Martin Nicoletti, CPA, CGA – Chief Financial Officer
Martin Nicoletti is a certified general accountant with more than twenty-two years of experience. He has been involved in global exploration with public junior mining companies since 2004. His duties include financial controls and financial reporting. He presently acts as chief financial officer for a number of public companies.