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Gratomic appoints Brand as interim director

Gratomic appoints Brand as interim director

2021-05-07 10:28 ET – News Release

Mr. Arno Brand reports

GRATOMIC APPOINTS LYNNE BRAND TO REPLACE STEVEN GRAY AS DIRECTOR

Gratomic Inc. is replacing Steven Gray on the board of directors at Gratomic. The company’s general manager, Lynne Brand, will step in as an interim director until the company can find a suitable candidate to serve as an independent director with production experience. This comes as the company is transitioning from junior exploration company to an operating company. Mr. Gray will continue serving as a qualified person as the company believes his position as a QP is better served off the board.

The company is pleased to appoint Ms. Brand as the interim director replacing Mr. Gray. Ms. Brand joined Gratomic in 2012, initially joining as the general mine manager at Gratomic’s flagship Aukam project. Few, if any, have as much value to add to the board as Ms. Brand does in this temporary position. This exercise is not without purpose; the board sees this as an opportunity for Ms. Brand to build up experience as a director as she will shortly becoming the marketing director in Namibia. This will allow her to instill the same values and principles that govern the main Gratomic board into her future role as marketing director.

Mr. Gray is currently acting as QP for the continuing resource drilling program at Aukam. The company believes his time will be more efficiently spent committed fully to his duties as a QP without the added responsibilities of an independent director.

“It has been an honour to serve on the board with Steven. We appreciate everything that he has done for the company and we look forward to continuing to work with him as QP,” said Arno Brand, chief executive officer and president.

“I am looking forward to stepping into this important position and accepting the responsibility that comes with it. I am excited to bring the knowledge and experience of our Canadian board members back to Namibia,” said Ms. Brand, interim director.

About Gratomic Inc.

Gratomic is focused on introducing an exceptional anode material to the global electric vehicle and energy storage supply chains. The company aims to achieve full operational capabilities in 2021, with further plans to take its Aukam graphite project fully solar by 2022. Large quantities of its naturally high-quality graphite have been shipped for testing to confirm its viability as an anode material. Gratomic is confident that the results will provide a unique competitive advantage in its desired target markets.

The company’s recent collaboration agreement with Forge Nano has advanced the developments on its graphite finalization phase for the micronization, spheronization and the patented ALD coating of its Aukam vein graphite for use in lithium-ion batteries. Forge Nano is a global leader in surface engineering and precision nano-coating technology, using atomic layer deposition.

Gratomic has two outstanding off-take purchase agreements with TODAQ and Phu Sumika with contract fulfillment slated to begin in 2021. Gratomic plans to deliver mine-to-market traceability through its partnership with deeptech company TODAQ by providing documented tracking on all graphite generated at its flagship Aukam graphite project.

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Gratomic: Eco-conscious and On The Move

Gratomic: Eco-conscious and On The Move

Graphite has been around for what it seems to be forever. I’m sure we all remember using a form of this naturally-occurring crystalline carbon as kids in our yellow No. 2 pencils.

The popularity of this highly versatile mineral with other uses including in lubricants, refractories, nuclear reactors, electrical components and sports equipment ensures that, in my opinion, it will continue to be a highly sought commodity.

A more recent and very promising aspect of graphite is its’ use in the manufacture of batteries. One company that is aggressively pursuing this opportunity is Toronto-based Gratomic Inc. (TSX.V:GRAT) (OTXQX:CBULF) (FRANKFURT:CB82).

Being a very eco-conscious company, it would make sense that the batteries of interest to Gratomic would be in the Electronic Vehicle battery market. There are plans to construct a pilot facility which will enable the internal processing of up to 1,000 tons of SG16 battery grade anode materials in the second half of 2021. If successful, plans are in the works to follow the initial pilot facility with the construction of a demonstration facility, which will process up to approximately 2,000 tons per annum beginning in 2022 and up to 20,000 tons per annum once the demonstration facility is transitioned into a full final production phase. The facility will be located at Gratomic’s owned warehouse located at the Port of Luderitz Bay in Namibia. While Gratomic completes the development of the pilot facility, graphitic material will be shipped to Colorado-based Forge Nano, Inc. for patented Atomic Layer Deposition (ALD) coating in preparation for use as a battery anode material. This enables raw graphite material to be processed for the final stages required in application. The ALD coating technology slated for use in lithium-ion battery anode applications, could result in significant gains in performance to Gratomic’s SG16 battery graphite compounds. (1)

There is another aspect of the company which is of utmost interest. Gratomic has projects in the Karas Region of Namibia (AUKAM) and Buckingham, Quebec (BUCKINGHAM).

Of the two projects, the one I find most intriguing at the moment is the Aukam Project. For several reasons, this region which covers a historical vein graphite mine is significant. Data obtained over the past 8 years of the project has demonstrated significant potential for expansion. (2)

Vein graphite comprises only 1% of the market. It also tends to be of a very high grade with purity levels that can reach over 98% compared to the typical purity levels of between 60-98% for the other two forms of graphite which are amorphous and flake. (3) Up until present day, the only commercial source of such high-grade vein graphite has been from mines in Sri Lanka. (4)

With Gratomic’s recent acquisition of Next Graphite Inc.’s 37% interest in Gazania 242 Pty Ltd., the Namibian company which holds the licenses on the Aukam property, Gratomic will hold 100% of the rights and interests in the Aukam Mining License and exploration License. Gratomic also has in place two off-take purchase agreements for lump-vein graphite sourced from Aukam. Fulfillment of the contracts is anticipated to begin in 2021. The agreements exist with TODAQ and Phu Sumika. (5)

Other variables that contribute to Aukam’s attractiveness are year-round road access as well as nearby power, water and rail line sources. (6) With all the positives this unique asset presents in combination with being one of the only jurisdictions of viable vein graphite outside of Sri Lanka, it may be poised to replace a large part of declining production capacity of vein graphite from Sri Lanka. (7)

Gratomic, apart from the eco-friendly battery component of the company, has other plans for doing their part for the environment. They have recently engaged in research and planning with the goal of taking the Aukam Project solar, which will enable the Company’s Aukam processing plant to transition from traditional fuel generators to clean, renewable and sustainable solar power. Implementing solar into its already highly energy efficient operations will further reduce the Company’s already nearly negligible carbon footprint, which was internally calculated at an estimated 0.8Kg/tonne.(8)

All of the expansion news is very well and good. However, with today’s environmental concerns, one of the things that I am most keen about is Gratomic’s highly impressive corporate vision. The company’s goal is to become a key strategic supplier of clean, environmentally friendly and ethically sourced graphite for the Carbon Age. Going solar, as per plans for their Aukam project, is a large aspect of that plan and has been a company goal from the beginning. As explained by Armando Farhate, COO & Head of Graphite Marketing and Sales “As ultimately all of the Earth’s energy comes from the sun, we are reducing our carbon footprint by cutting corners and harvesting the energy directly.”(9)

Arno Brand, CEO & President concurs with his statement, “Gratomic, as a company, is focused on building a sustainable operation in an environmentally friendly manner, so that we can leave a lasting legacy for future generations.”(9)

In summary, I believe that Gratomic is making all the right moves to power up success. The company’s stock price has moved from a 52 week low of CDN$.045 to a high of about CDN$1.80. Its’ stock price has recently pulled back to about CDN$1.11 (as of April 21st, 2021).

In my opinion, the company holds a lot of potential especially with its focus on commercialization of high purity vein graphite. This is a company to continue to watch.

Happy investing!

Dr. Kal Kotecha

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  1. Gratomic (March 31, 2021) : Gratomic Engages Forge-Nano in Battery Grade Graphite Enhancement Program : https://gratomic.ca/2021/03/31/gratomic-engages-forge-nano-in-battery-grade-graphite-enhancement-program/
  2. Gratomic : Aukam : https://gratomic.ca/aukam/
  3. Seeking Alpha (Point of Return) (September 2014) : Why The Graphite Sector Is Heating Up, How To Evaluate Opportunities, And What I Own : https://seekingalpha.com/article/2504085-why-the-graphite-sector-is-heating-up-how-to-evaluate-opportunities-and-what-i-own
  4. Kahatagaha Graphite Lanka Limited : https://kgraphite.lk/
  5. Investing News Network (February 17th, 2021) :Gratomic Provides Update on Its Acquisition of the Remaining 37% Interest in Aukam Property : https://investingnews.com/news/emerging-tech-investing/gratomic-provides-update-on-its-acquisition-of-the-remaining-37-interest-in-aukam-property/
  6. Gratomic: Aukam : https://gratomic.ca/aukam/
  7. Agoracom : Gratomic Inc. Profile : https://agoracom.com/ir/Gratomic/profile
  8. Investing News Network (April 8, 2021) : Gratomic Intends to Fully Power Its Aukam Processing Facility Through Solar Energy by 2022, Offering an Even Greener Option to the Global Electric Vehicle Supply Chain : https://investingnews.com/news/emerging-tech-investing/gratomic-intends-to-fully-power-its-aukam-processing-facility-through-solar-energy-by-2022-offering-an-even-greener-option-to-the-global-electric-vehicle-supply-chain/
  9. Investing News Network (April 8, 2021) : Gratomic Intends to Fully Power Its Aukam Processing Facility Through Solar Energy by 2022, Offering an Even Greener Option to the Global Electric Vehicle Supply Chain : https://investingnews.com/news/emerging-tech-investing/gratomic-intends-to-fully-power-its-aukam-processing-facility-through-solar-energy-by-2022-offering-an-even-greener-option-to-the-global-electric-vehicle-supply-chain/

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None of our trading or investing information, including JGR/Dr. Dr. Kal Kotecha, any emails or content or any internet-based communication (collectively, “Information”) provides individualized trading or investment advice and should not be construed as such. Accordingly, please do not attempt to contact JGR/Dr. Dr. Kal Kotecha, its members, partners, affiliates, employees, consultants of JGR/Dr. Dr. Kal Kotecha to request personalized investment advice, which they cannot provide.
JGR/Dr. Kal Kotecha is not a registered broker/financial advisor.
Shareholders and others should always conduct their own independent investigation and analysis of those statements and communications of companies or persons to which those statements or communications may be relevant.

Forward Looking Statements: Except for statements of historical fact, certain information contained herein constitutes forward-looking statements. Forward looking statements are usually identified by the use of certain terminology, including “will”, “believes”, “may”, “expects”, “should”, “seeks”, “anticipates”, “has potential to”, or “intends’ or by discussions of strategy, forward looking numbers or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results or achievements to be materially different from any future results or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts, and include but are not limited to, estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to the effectiveness of the Company’s business model; future operations, products and services; the impact of regulatory initiatives on the Company’s operations; the size of and opportunities related to the market for the Company’s products; general industry and macroeconomic growth rates; expectations related to possible joint and/or strategic ventures and statements regarding future performance. JGR/Dr. Kal Kotecha does not take responsibility for the accuracy of forward-looking statements and advises the reader to perform their own due diligence on forward looking numbers or statements.
Risks and uncertainties respecting mineral exploration companies are generally disclosed in the annual financial or other filing documents of the respective featured company and similar companies as filed with the relevant securities commissions, and should be reviewed by any reader of this report. In addition, with respect to the featured companies., a number of risks relate to any statement of projection or forward statements, including among other risks: the receipt of all necessary approvals; the ability to conclude a transaction to build a mine; uncertainty of future production or market prices, capital expenditures and other costs; financing and additional capital requirements for exploration, development and construction of a mine; mineral grade may not be as high as expected; the receipt in a timely fashion of further permitting for its projects; legislative, political, social or economic developments in the jurisdictions in which the featured company carries on business; operating or technical difficulties or cost increases in connection with mining or development activities; the ability to keep key employees and operations financed. This is solely a small excerpt of potential risks and uncertainties. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. JGR/Dr. Kal Kotecha does not undertake any obligation to update any statements made.
The reader is referred to the public filings pertaining to a Gratomic profile available at www.sedar.com.

Consideration for Services: JGR/Dr. Kal Kotecha/Dr. Kal Kotecha may hold securities in Gratomic (a TSX:V listed company) including the possibility of receiving stock options and will benefit from price appreciation. JGR/Kal Kotecha and may buy, hold and sell shares without notice.
JGR/Dr. Kal Kotecha and its’ owner and affiliates/associates, partners, family members, or contractors may have long positions in Gratomic and may buy, hold and sell shares without notice.
JGR/Dr. Kal Kotecha has been paid for promotional services by Gratomic and as such our opinions are biased. Thus, multiple conflicts of interest exist. Therefore, information provided here within should not be construed as a financial analysis or recommendation but rather as an advertisement.
JGR/Dr. Kal Kotecha’s conclusions are the result of personal due diligence.
JGR/Dr. Kal Kotecha composes disclosures to the best of its’ knowledge in order to maintain transparency and also to uphold and respect pertinent securities legal obligations. Each investor must make that decision based on his/her judgment of the market and via consulting with their registered broker/financial advisor.
Conduct your own due diligence: JGR/Dr. Kal Kotecha’s views and opinions regarding the companies featured in report(s) are JGR/Dr. Kal Kotecha’s own views and are based on information that JGR/Dr. Kal Kotecha has researched independently and has received, which JGR/Dr. Kal Kotecha assumes to be reliable. You should never base any buying/selling/trading/investment decisions off of our emails, newsletter, website, videos or any of our published materials. JGR/Dr. Kal Kotecha aims to provide information and often stock ideas but they are by no means recommendations. The ideas and companies featured are highly speculative and you could lose your entire investment – consult a registered broker/financial advisor if you are considering investing in any of the featured companies. Subscribers/readers are encouraged to conduct their own research and due diligence. The companies mentioned may be high risk and considered penny stocks that contain a high risk of volatility, therefore consult your registered broker/financial advisor and do your own due diligence before purchasing. No Offer to Sell Securities: JGR/Dr. Kal Kotecha is not a registered broker dealer, investment advisor, financial analyst, stock picker, investment banker or other investment professional. JGR/Dr. Kal Kotecha is intended for informational, educational and research purposes only. It is not to be considered as investment advice. No statement or expression of any opinions contained in this report constitutes an offer to buy or sell the shares of the companies mentioned herein. LinksJGR/Dr. Kal Kotecha may contain links to related websites for stock quotes, charts, etc. JGR/Dr. Kal Kotecha is not responsible for the content of or the privacy practices of these sites. Information contained herein was extracted from public filings, profiled company websites/from the company, and other publicly available sources deemed reliable. Information in this report was taken on or before writing and dissemination and may not be updated. Do your own due diligence as information and events can and do change. Published reports may reference company websites or link to company websites and we disclaim any responsibility for the content and accuracy of any such information or website.
Gratomic may not have reviewed the JGR/Dr. Kal Kotecha’s content prior to publication and as such may not agree with statements made by JGR/Dr. Kal Kotecha. JGR/Dr. Kal Kotecha´s views and opinions regarding Gratomic in the report are JGR/Dr. Kal Kotecha’s own views and are based on information that was received or found in the public domain, which is assumed to be reliable. JGR/Dr. Kal Kotecha has not undertaken independent due diligence of the information received or found in the public domain. JGR/Dr. Kal Kotecha does not guarantee the accuracy, completeness, or usefulness of any content of this report, nor its fitness for any particular purpose.

Release of Liability: By reading the newsletter/website and/or watching videos by JGR/Dr. Kal Kotecha, you agree to hold JGR/Dr. Kal Kotecha, its associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred.
JGR/Dr. Kal Kotecha and the authors do not guarantee that any of the companies mentioned in the reports will perform as expected. Any comparisons that were made to other may not be valid or come into effect. Unless disclosed otherwise, photos/images used on the website/newsletter are sourced from photo websites, provided by the company and the public domain.

I am not a registered broker/financial advisor nor do I hold any licenses or registration with any other financial body. I am an individual investor and my opinions are a result of my own personal observation of companies and stocks. My opinions are not always correct and will not always be correct in the future.
My articles are formed from my opinion only and are not in any way suggestions to buy or sell any equity, bond, option or other financial instrument.

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TomaGold to acquire claims south of Obalski

Full Article: TomaGold to acquire claims south of Obalski

2021-04-19 10:39 ET – News Release

Mr. David Grondin reports

TOMAGOLD STRENGTHENS ITS POSITION AROUND THE OBALSKI AND MONSTER LAKE PROPERTIES

TomaGold Corp. has signed two agreements for the acquisition of interests and mineral properties aimed at strengthening its position around the Obalski and Monster Lake properties, and has provided an update on coming work on Obalski.

Hazeur property

The corporation has signed an agreement with Visible Gold Mines to acquire its 30-per-cent interest in the Hazeur property, located just south of Monster Lake and Monster Lake East. As consideration, TomaGold will issue two million common shares upon closing of the transaction and make the following cash payments: $50,000 by May 31, 2021, an additional $100,000 by July 31, 2021, and another $100,000 by Nov. 30, 2021. Visible Gold Mines will hold a 2-per-cent net smelter return royalty, with 1 per cent redeemable by TomaGold for $500,000.

Obalski property

The corporation has signed an agreement to acquire a 100-per-cent interest in 46 claims located just south of the Obalski property. As consideration, TomaGold will issue three million common shares upon closing of the transaction and will issue an additional two million common shares or make a cash payment of $250,000 (at the option of the corporation) one year after closing. The vendors will hold a 2-per-cent net smelter return royalty, with 1 per cent redeemable by TomaGold for $1-million.

“These transactions will strengthen our position around Monster Lake to a total of 151 wholly owned claims covering 8,304 hectares (83 square kilometres) situated around the Iamgold deposit, and will extend the Obalski property towards the south, which also has interesting geological potential,” said David Grondin, president and chief executive officer of TomaGold. “In addition, in line with the spring thaw, we are preparing the core material from historical drilling on Obalski to be sent to Corem for reanalysis using a leaching procedure and we will soon begin, depending on the availability of the drilling crews, our 10,000-metre drilling program on the same property.”

The transactions are arm’s-length transactions subject to the approval of the TSX Venture Exchange.

The technical content of this press release has been reviewed and approved by Andre Jean, PEng, the corporation’s director of exploration and a qualified person under National Instrument 43-101.

About TomaGold Corp.

TomaGold is a Canadian mineral exploration corporation engaged in the acquisition, assessment, exploration and development of gold mineral properties. TomaGold has interests in five gold properties near the Chibougamau mining camp in Northern Quebec: Obalski, Monster Lake East, Monster Lake West, Hazeur and Lac Doda. It also participates in a joint venture with Evolution Mining Ltd. and New Gold Inc., through which it holds a 24.5-per-cent interest in the Baird property, near the Red Lake mining camp in Ontario.

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JGR/Dr. Kal Kotecha is not a registered broker/financial advisor.

Shareholders and others should always conduct their own independent investigation and analysis of those statements and communications of companies or persons to which those statements or communications may be relevant.

 

Forward Looking Statements: Except for statements of historical fact, certain information contained herein constitutes forward-looking statements. Forward looking statements are usually identified by the use of certain terminology, including “will”, “believes”, “may”, “expects”, “should”, “seeks”, “anticipates”, “has potential to”, or “intends’ or by discussions of strategy, forward looking numbers or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results or achievements to be materially different from any future results or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts, and include but are not limited to, estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to the effectiveness of the Company’s business model; future operations, products and services; the impact of regulatory initiatives on the Company’s operations; the size of and opportunities related to the market for the Company’s products; general industry and macroeconomic growth rates; expectations related to possible joint and/or strategic ventures and statements regarding future performance. JGR/Dr. Kal Kotecha does not take responsibility for the accuracy of forward-looking statements and advises the reader to perform their own due diligence on forward looking numbers or statements.

Risks and uncertainties respecting mineral exploration companies are generally disclosed in the annual financial or other filing documents of the respective featured company and similar companies as filed with the relevant securities commissions, and should be reviewed by any reader of this report. In addition, with respect to the featured companies., a number of risks relate to any statement of projection or forward statements, including among other risks: the receipt of all necessary approvals; the ability to conclude a transaction to build a mine; uncertainty of future production or market prices, capital expenditures and other costs; financing and additional capital requirements for exploration, development and construction of a mine; mineral grade may not be as high as expected; the receipt in a timely fashion of further permitting for its projects; legislative, political, social or economic developments in the jurisdictions in which the featured company carries on business; operating or technical difficulties or cost increases in connection with mining or development activities; the ability to keep key employees and operations financed. This is solely a small excerpt of potential risks and uncertainties. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.  Accordingly, readers should not place undue reliance on forward-looking information. JGR/Dr. Kal Kotecha does not undertake any obligation to update any statements made.

The reader is referred to the public filings pertaining to a Toma Gold profile available at www.sedar.com.

 

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JGR/Dr. Kal Kotecha and its’ owner and affiliates/associates, partners, family members, or contractors may have long positions in Toma Gold and may buy, hold and sell shares without notice.

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JGR/Dr. Kal Kotecha’s conclusions are the result of personal due diligence.

JGR/Dr. Kal Kotecha composes disclosures to the best of its’ knowledge in order to maintain transparency and also to uphold and respect pertinent securities legal obligations. Each investor must make that decision based on his/her judgment of the market and via consulting with their registered broker/financial advisor.

Conduct your own due diligence: JGR/Dr. Kal Kotecha’s views and opinions regarding the companies featured in report(s) are JGR/Dr. Kal Kotecha’s own views and are based on information that JGR/Dr. Kal Kotecha has researched independently and has received, which JGR/Dr. Kal Kotecha assumes to be reliable. You should never base any buying/selling/trading/investment decisions off of our emails, newsletter, website, videos or any of our published materials. JGR/Dr. Kal Kotecha aims to provide information and often stock ideas but they are by no means recommendations. The ideas and companies featured are highly speculative and you could lose your entire investment – consult a registered broker/financial advisor if you are considering investing in any of the featured companies. Subscribers/readers are encouraged to conduct their own research and due diligence. The companies mentioned may be high risk and considered penny stocks that contain a high risk of volatility, therefore consult your registered broker/financial advisor and do your own due diligence before purchasing. No Offer to Sell Securities: JGR/Dr. Kal Kotecha is not a registered broker dealer, investment advisor, financial analyst, stock picker, investment banker or other investment professional. JGR/Dr. Kal Kotecha is intended for informational, educational and research purposes only. It is not to be considered as investment advice. No statement or expression of any opinions contained in this report constitutes an offer to buy or sell the shares of the companies mentioned herein. Links: JGR/Dr. Kal Kotecha may contain links to related websites for stock quotes, charts, etc. JGR/Dr. Kal Kotecha is not responsible for the content of or the privacy practices of these sites. Information contained herein was extracted from public filings, profiled company websites/from the company, and other publicly available sources deemed reliable. Information in this report was taken on or before writing and dissemination and may not be updated. Do your own due diligence as information and events can and do change. Published reports may reference company websites or link to company websites and we disclaim any responsibility for the content and accuracy of any such information or website.

Toma Gold may not have reviewed the JGR/Dr. Kal Kotecha’s content prior to publication and as such may not agree with statements made by JGR/Dr. Kal Kotecha. JGR/Dr. Kal Kotecha´s views and opinions regarding Toma Gold in the report are JGR/Dr. Kal Kotecha’s own views and are based on information that was received or found in the public domain, which is assumed to be reliable. JGR/Dr. Kal Kotecha has not undertaken independent due diligence of the information received or found in the public domain. JGR/Dr. Kal Kotecha does not guarantee the accuracy, completeness, or usefulness of any content of this report, nor its fitness for any particular purpose.

 

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My articles are formed from my opinion only and are not in any way suggestions to buy or sell any equity, bond, option or other financial instrument.

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tomagold-logo

TomaGold continues to show strong results at Obalski with 23.7 g/t Au and 24.5 g/t Ag over 0.5 metres

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  • Corporation reports results from last four holes of a seven-hole, 2,502-metre program
  • Best results include:
    • Hole OBS-21-005: 23.7 g/t Au and 24.5 g/t Ag over 0.5 metres
    • Hole OBS-21-007: 23.6 g/t Au and 2.9 g/t Ag over 0.5 metres
    • Hole OBS-21-007: 0.46 g/t Au and 0.32 g/t Ag over 18.75 metres
  • 10,000-metre follow-up drilling program to start in April

Montreal, Quebec, March 25, 2021 – TOMAGOLD CORPORATION (TSXV: LOT) (“TomaGold” or the “Corporation”) is pleased to report the results for the last four holes of its 2,502-metre drilling program on its wholly-owned Obalski property, in Chibougamau, Quebec.

Drilling began in December 2020 and ended on February 18, 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 goal of the program was to better define the A-Po zone on sections 450 E and 120 E, located 330 metres apart, with very little exploration work in between. Drilling was also aimed at intersecting the A, C and D zones, some of which had already been mined underground and been the subject of minor surface work.

The results for the three holes drilled on section 450 E were disclosed previously (see press release dated March 10, 2021). The following table shows the gold, silver and copper results for the three holes drilled on section 120 E:

HOLE ZONE Au(g/t) Ag(g/t) Cu(%) Core length(m) Depth(m)
OBS-20-005 A-Po N 3.43 3.78 NSV 3.55 190
Including A-Po N 23.7 24.5 NSV 0.50 190
OBS-20-006 A-Po N 0.24 0.68 NSV 1.90 260
OBS-20-007 A-Po S 4.81 0.58 NSV 2.50 365
Including A-Po S 23.6 2.9 NSV 0.50 365
OBS-20-007 A-Po N 0.46 0.32 NSV 18.74 380

NSV: non-significant value

*The width shown is the core length. True width is estimated at 65-70% of core length.

 

These latest results appear to confirm the continuity of the A-Po North and South zones, warranting a 10,000-metre follow-up program to start in April,” said David Grondin, President and CEO of TomaGold. “The new program is aimed at defining the A-Po zone by drilling every 50 metres between sections 120 E and 450 E to a vertical depth of at least 500 metres, with some holes reaching a vertical depth of 650 metres. We believe that the results of this first program are a good indicator of the gold potential that lies below. The work is expected to take approximately four months to complete.

In parallel with the drilling program, samples from certain mineralized zones will be further investigated and re-analysed by Corem using a leaching procedure. In 1987, given highly variable results from its drilling programs, Syngold Exploration, a previous owner, decided to re-run samples using a leaching procedure. Notably, leaching on samples from several intersections, including samples from hole OBS-87-03, returned an average grade of 2.1 g/t Au over 17.1 m, from 331.3 m to 348.4 m (compared to 0.18 g/t Au for the original assays), including a 6.7-m section, from 339.9 m to 346.6 m, that graded 3.43 g/t Au (compared to just 0.254 g/t for the original assay). Assaying (gold, multi-element and whole rock) was performed at three different independent laboratories: Chimitec Ltd., Bourlamaque Assay Laboratories Ltd. and Metriclab (1980) Inc. Cyanidation test work was also done at Lakefield Research. Syngold did not introduce standards or blanks into the assaying chain but carried out diligent re-sampling of the mineralization. The work report (GM-48538) included the assay certificates but did not provide any information on the sample preparation and assaying procedure or the internal control results for the laboratories. The above values have been recalculated from the original assays, taking into consideration re-assaying done by Syngold in 1988.

Finally, a more detailed reinterpretation of the geology, structure and mineralization is also underway. Recent drilling has enabled the Corporation to confirm the presence of two significant gold-bearing structures: the A-Po zone, which is characterized by the presence of a corridor rich in semi-massive to locally massive sulphides, and the D vein, which is defined by a shear that intersects the A-Po zone and is injected by a gold-rich quartz vein locally.

Sample preparation and analysis

TomaGold has implemented and is adhering to a strict Quality Assurance/Quality Control program for the present drilling program. The core is sawed in half, with one half kept as a witness sample in Chibougamau and the other half shipped directly by bus to ALS Chemex in Val-d’Or, Quebec. The half core is then ground to 1/8″ and split into two halves by ALS. One half is kept as a witness (reject) by ALS in Val-d’Or. ALS pulverizes the other half to minus 150 mesh and takes a 50 g sample for analysis. The rest is kept at ALS and identified as “pulp”.

The technical content of this press release has been reviewed and approved by André Jean, P.Eng., the Corporation’s Director of Exploration and a qualified person under National Instrument 43-101.

About the Obalski property

The Obalski property, which covers 345 hectares, including a 33-hectare mineral concession, lies about 2 km south of Chibougamau, Quebec. Discovered in 1928, the Obalski deposit produced 100,273 tonnes at grades of 1.14% Cu, 2.08 g/t Au and 6.04 g/t Ag from the A zone between 1964 and 1972, and around 9,000 tonnes at a reported grade of 8.5 g/t Au from the D zone in 1984 (Source: SIGEOM and Camchib Exploration internal reports).

About TomaGold

TomaGold Corporation (TSXV: LOT) is a Canadian mineral exploration corporation engaged in the acquisition, assessment, exploration and development of gold mineral properties. TomaGold has interests in five gold properties near the Chibougamau mining camp in northern Quebec: Obalski, Monster Lake East, Monster Lake West, Hazeur and Lac Doda. It also participates in a joint venture with Evolution Mining Ltd. and New Gold Inc., through which it holds a 24.5% interest in the Baird property, near the Red Lake mining camp in Ontario.

Contact:

David Grondin
President and Chief Executive Officer
(514) 583-3490
www.tomagoldcorp.com

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Some of the statements contained in this press release are forward-looking statements within the meaning of applicable securities laws. Forward-looking statements can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved. Forward-looking statements are not historical facts and are subject to a number of risks and uncertainties beyond the Corporation’s control. Readers are cautioned that such statements are not guarantees of future performance and that actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.

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