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Drill Results Routine +

Update on Drilling on Chibougamau's Berrigan Mine Asset

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

By The Northwire Desk — AI Analysis May 29, 2026 · 07:30 LOT · 0.04 TomaGold Corporation
Executive Summary
  • Most Recent Update (May 29, 2026): TomaGold reports an update on drilling at the Chibougamau's Berrigan Mine asset. The release reiterates significant mineralization intersected in drill holes TOM-25-014 and TOM-25-015, which were originally reported in January 2026 as the discovery of the "Berrigan Deep" zone.
  • Phase 2 Status: Phase 2 drilling is underway to extend previous holes (TOM-25-009 to TOM-25-013) targeting the Berrigan Deep zone. Samples from extension holes (TOM-25-009EXT, etc.) were shipped in late May with results expected shortly.
  • Geophysical Plans: Concurrent plans include ground prospecting and advanced geophysical surveys (BHEM, UTEM, AMT) over a 4 km by 2 km corridor to identify new regional conductors.
  • Historical Context: The news confirms the viability of the January discovery but does not provide new assay results for the Phase 2 extension holes in this specific release, serving primarily as an operational status update following the May 28 completion announcement.
Material Impact
  • Incremental Nature: The most recent news is largely a confirmation of previous material positive announcements (January 2026 discovery) rather than a new discovery or assay result that changes the valuation thesis immediately.
  • Operational Continuity: It confirms management is executing on the Phase 2 plan announced in March and May, validating the company's commitment to the project despite recent financing dilution.
  • Lack of New Data: The absence of new assay results for the extension holes (TOM-25-009EXT etc.) in this specific release limits its immediate materiality compared to the January discovery news.
  • Market Expectation: Given the prior announcements, this update is expected by investors tracking the project progression and does not represent a surprise catalyst.
LOT · Price
Company Overview
  • Company Strategy: Acquire, explore, and develop high-potential precious and base-metal projects in Quebec (Chibougamau Mining Camp) while leveraging options on additional properties.
  • Flagship Project: Berrigan Mine (Optioned from Chibougamau Independent Mines).
    • Status: Exploration / Drilling Phase 2 underway.
    • Discovery: "Berrigan Deep" zone identified in Jan 2026 with high-grade Zn/Au intercepts (e.g., 5.75% ZnEq over 98.5m).
    • Geology: Semi-massive sulfide mineralization within serpentinized peridotite, open at depth.
  • Other Assets: Obalski Project (100% owned), Radar/Dufault Projects (Optioned), Star Lake REE/Brisk Lithium (James Bay).
Read the original news release →

More from TomaGold Corporation

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 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 Apr 01, 2026 · 10:52

Drilling Resumes on Globex's Berrigan Zinc, Gold, Silver Royalty Property NW of Chibougamau, Quebec

Drill Results Mar 31, 2026 · 13:20

TomaGold doubles down on Berrigan Deep as Phase 1 intercepts confirm high-grade zinc-gold system

Drill Results