JOHANNESBURG (miningweekly.com) – TSX-listed TomaGold has confirmed that an initial resource estimate is under way for its Monster Lake joint venture project, located 50 km south-west of Chibougamau, in Quebec, Canada.
The estimate will be based on data from more than 80 000 m of drilling completed by TomaGold’s joint venture partner, international gold producer Iamgold, as well as TomaGold and previous explorers, including about 38 000 m from the 325-Megane zone area.
"We are delighted that Iamgold has initiated a first resource estimate for Monster Lake," said TomaGold CEO David Grondin in a statement on Tuesday.
He added that this will mark a significant milestone in the exploration of the Monster Lake project.
In addition, Iamgold will continue to advance its ongoing exploration of the property, with a new drilling programme targeting high-potential targets for additional mineralisation.
“Together with the resource estimate, this drilling programme will continue to advance the Monster Lake project significantly," concluded Grondin.