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TomaGold reports high-grade sample of 3.95% TREO at Star Lake and doubles the size of its property
MONTRÉAL, Jan. 24, 2023 (GLOBE NEWSWIRE) -- TOMAGOLD CORPORATION (TSXV: LOT) (OTCQB: TOGOF) (“TomaGold” or the “Corporation”) is pleased to report positive pros
About this update from Tomagold Corporation Class A
[{"type":"text","content":" MONTRÉAL, Jan. 24, 2023 (GLOBE NEWSWIRE) -- TOMAGOLD CORPORATION (TSXV: LOT) (OTCQB: TOGOF) (“TomaGold” or the “Corporation”) is pleased to report positive prospecting sampling results on its 100%-owned Star Lake property, located 120 km southeast of Radisson, in the James Bay area of Québec. TomaGold has also doubled the size of its Star Lake property to 214 map-designated claims over an area of 10,906 ha (or 109 km2), the largest land position in the sector (see Figure 1). The property is characterized by multiple under-explored outcropping pegmatite intrusions that host unusual enrichment of rare earth elements (see Figure 2), and is located in one of the world’s most mining-friendly jurisdictions, with ample green energy sources. Figure 1: Star Lake Property In the fall of 2022, TomaGold asked Dahrouge Geological Consulting Ltd. to conduct a one-day prospecting visit on the property for the purpose of resampling historic grab samples (see Table 2) containing anomalous rare earth element values. A total of nine chip samples were collected in the area, with one returning a total of 3.95% TREO (18,974 ppm Ce2O3, 10,849 ppm La2O3, 5,369 ppm Nd2O3, 1,931 ppm Pr2O3, 902 ppm Sm2O3, 184 ppm Dy2O3, 15 ppm Eu2O3, 511 ppm Gd2O3, 27 ppm Ho2O3, 51 ppm Tb2O3, 4 ppm Tm2O3 and 608 ppm Y2O3) (see Table 1). That particular sample was from a pegmatite intrusion that lies near a shear zone mapped by the Geological Survey of Quebec and near the contact between two lithological units (Laguiche 2a and 3a). Given these promising results, TomaGold will organize a two-week-long prospecting campaign for early summer 2023. “This initial TREO result, coupled with Star Lake’s historical results, seems to indicate that the property holds promising rare earth exploration potential, which we’ll be testing more this summer,” said David Grondin, President and CEO of TomaGold. “Rare earth elements are increasingly sought after as they play a critical role in permanent magnets and modern electronic applications such as electric vehicles, which supports our decision to acquire the largest land position in this part of James Bay. It is an interesting fact that since we acquired our property last fall, several mining companies have acquired claims around us, which could lead to more exploration activity and greater recognition of the area going for...