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TomaGold consolidates its position in the Monster Lake area with the purchase of additional claims
TomaGold consolidates its position in the Monster Lake area with the purchase of additiona...
About this update from Tomagold Corporation Class A
[{"type":"text","content":"\n\n\n\nTomaGold consolidates its position in the Monster Lake area with the purchase of additional claims\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, April 12, 2018\n\n\n\nThe Company also provides an update on its exploration and gold brokerage activities\n\n\n\nMONTREAL, April 12, 2018 /CNW Telbec/ - TOMAGOLD CORPORATION (TSXV: LOT) (\"TomaGold\" or the \"Corporation\") is pleased to announce that it has consolidated its position in the Monster Lake area with the acquisition of 64 additional claims, of which 36 claims are adjacent to the east of the Monster Lake East property (forming the Monster Lake East property) and 28 claims are adjacent to the west of the Monster Lake property (forming the Monster Lake West property). In consideration for these claims, the Corporation issued 300,000 common shares to a prospector.\n\n\n \n \n\n \n\"With the promising results obtained from the Monster Lake resource estimate (see press release dated March 28, 2018) and the discovery of the copper anomaly on Monster Lake East, it was important for us to proceed with this acquisition,\" said David Grondin, President and Chief Executive Officer of TomaGold.\n\nGeophysical survey on Monster Lake East\n\nOn the Monster Lake East property, TomaGold conducted a partial airborne survey in the area of the large copper geochemical anomaly identified by a government survey, and cut a 20-kilometre grid of lines, including a 4-kilometre baseline. The Corporation has recently completed a detailed PP survey through Abitibi Geophysics to explore the anomaly to a depth of 300 m and expects to have the survey results over the next few weeks.\n\nGold brokerage and line of credit\n\nThe Corporation has completed a second transaction of 306 ounces of gold and is currently conducting a third transaction. In addition, negotiations are continuing with several groups to finalize the planned financing through a line of credit or a loan, which will allow TomaGold to increase the volume and frequency of transactions.\n\nThe acquisitio...