Drilling Resumes on Berrigan Zinc, Gold, Silver Property under Option from Chibougamau Independent Mines
Chibougamau leverages royalty upside and partner-funded drilling to unlock deep polymetallic potential in Quebec.
The most recent news (March 31, 2026) announces the commencement of a 1,500-metre Phase 2 drill program at the Berrigan property. This program is being conducted by TomaGold Corporation, which holds an option on the property from Chibougamau Independent Mines. The drilling specifically targets the "Berrigan Deep Zone," a newly identified horizon beneath known mineralization. This follows Phase 1 results which included a standout intercept of 98.5m @ 5.08% ZnEq. The news also provides a comprehensive table of Phase 1 assays, confirming high-grade sub-intervals (up to 37.71% ZnEq over 0.7m) and wide mineralized envelopes.
The news is categorized as Routine - Positive. While the drill results from Phase 1 were significant (specifically the 98.5m intercept), the market was already made aware of these results in the January 29, 2026, release. The current news is an incremental update marking the start of the follow-up program. - Technical Validation: The discovery of the "Berrigan Deep Zone" suggests the system has more scale than previously modeled. - Financial Efficiency: Because the project is under option to TomaGold, Chibougamau benefits from the exploration data and potential project advancement without direct capital expenditure for the drilling itself. - Resource Growth: The transition from shallow targets to a "Deep Zone" indicates a potential shift in the project's scope from a small-scale resource to a larger polymetallic system.
Chibougamau Independent Mines (CIM) is a natural resource company focused on the Chibougamau mining camp in Quebec. - Flagship Project (Royalty): Mont Sorcier Iron project (operated by Cerrado Gold). CIM holds a 2% GMR. The project targets 8 Mt/yr of high-purity iron concentrate. - Flagship Project (Optioned): Berrigan Zinc-Gold-Silver-Copper property. Currently under option to TomaGold Corp. It is a polymetallic deposit with significant historical and recent high-grade intercepts. - Other Assets: 100% interest in several properties in the Lac Chibougamau area targeting copper and gold.