Northwire Canada EditionTuesday, July 28, 2026
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EGR 0.025 +0.0% RIO 2.60 −3.5% GEN 0.070 +0.0% MAI 4.37 −2.5% RYR 0.175 +0.0% SCD 0.170 +1.5% SRC 1.75 −2.8% FOXT 0.155 +0.0% TG 0.180 −2.7% NOBL 0.100 −4.8% MGG 0.290 −3.3% HMR 0.540 +0.0% NRC 0.980 −2.0% SIG 0.925 +0.5% LMR 0.120 +60.0% XTM 0.065 +0.0% EGR 0.025 +0.0% RIO 2.60 −3.5% GEN 0.070 +0.0% MAI 4.37 −2.5% RYR 0.175 +0.0% SCD 0.170 +1.5% SRC 1.75 −2.8% FOXT 0.155 +0.0% TG 0.180 −2.7% NOBL 0.100 −4.8% MGG 0.290 −3.3% HMR 0.540 +0.0% NRC 0.980 −2.0% SIG 0.925 +0.5% LMR 0.120 +60.0% XTM 0.065 +0.0%
Drill Results

Initial Drill Holes Returned Zn, Ag and Au Over Wide Widths on Chibougamau Independent Claims Optioned to TomaGold

High-Grade Intercepts Meet High-Risk Balance Sheet: TomaGold Finds Ore but Struggles with Internal Controls

By The Northwire Desk — AI Analysis Dec 23, 2025 · 09:00 LOT · 0.055 TomaGold Corporation
Executive Summary

The most recent news (December 23, 2025) reports initial drilling results from the Berrigan claims, which are part of an option agreement from Chibougamau Independent Mines. Hole TOM-25-009 returned 48.05 metres of 6.68% ZnEq (1.57 g/t AuEq), including a high-grade core of 2.90 metres at 39.03% ZnEq (9.15 g/t AuEq). Additionally, the company confirmed the receipt of a $1,000,000 non-dilutive cash payment from IAMGOLD related to a prior asset sale and closed a private placement totaling approximately $1,000,000 in gross proceeds.

Material Impact

The impact is Material - Positive, but carries significant caveats. - Exploration Success: The intercepts at Berrigan are significant in width and grade, confirming the presence of a robust polymetallic system. The 39% ZnEq core suggests high-grade "sweet spots" which are essential for project economics. - Liquidity Infusion: The $1M cash payment from IAMGOLD is a vital lifeline. Previous financial statements (May 2025) showed a desperate cash position ($18,033) and massive trade payables ($603,233). This non-dilutive capital, combined with the $1M private placement, allows the company to settle debts and continue drilling. - Strategic Pivot: Under the new VP Exploration (Jean Lafleur), the company has consolidated the Chibougamau camp. The transition from "survival mode" to "exploration mode" is evident, though the cost of maintaining these options is high.

LOT · Price
Company Overview

TomaGold is focused on the Chibougamau mining camp in Quebec. - Flagship Project: Berrigan Mine (Polymetallic: Zn, Au, Ag). It is currently under option to acquire 100% from Chibougamau Independent Mines. - Other Projects: Obalski (100% owned), and a portfolio of 20 properties optioned from SOQUEM, including Radar and David. - Strategy: Reinterpreting old mining camps using 3D modeling and modern geophysics to find extensions missed by historical shallow drilling.

Read the original news release →

More from TomaGold Corporation

Jul 16, 2026 · 07:30

TomaGold confirms lateral continuity at Berrigan Deep, though grade-thickness remains a fraction of earlier high-grade intercepts.

Drill Results Jun 30, 2026 · 07:30

TomaGold Continues to Expand Berrigan Mine at Depth with a New Major 204.25 m Intersection in the Berrigan Deep Zone

Drill Results Jun 23, 2026 · 07:30

TomaGold advances deep exploration at Berrigan with an AMT survey as phase two assay results approach.

Drill Results May 29, 2026 · 07:30

Berrigan Deep Discovery Confirmed, Phase 2 Drilling Underway Amidst Financing Dilution

Drill Results May 28, 2026 · 07:30

TomaGold Consolidates Chibougamau Camp While Assay Results Await to Validate Deep Zone Potential

Drill Results Apr 15, 2026 · 07:15

TomaGold Raises Capital to Fund Berrigan Deep Discovery Momentum Amidst Dilution Concerns

Financings