Announcement • Jul 09
Toogood Gold Corp Provides Phase 1 Exploration Update At Table Mountain Gold-Silver Project
Toogood Gold Corp. provided an update on its ongoing Phase 1 exploration program at the Table Mountain Gold-Silver Project, an undrilled low-sulphidation epithermal gold-silver system located in Lincoln County, Nevada. Property-wide soil geochemistry program is complete, with 6,260 soil samples collected on a northwest-southeast oriented grid at 100 m line spacing and 25 m sample spacing. Ground gravity survey is completed with 1,688 stations collected on a 100 m by 100 m grid. UAV magnetic survey is completed totalling approximately 780 line-kilometres flown at 25 m line spacing. LiDAR survey is completed covering the full project area of approximately 15.4 km2. Phase 1 prospecting and rock sampling is completed, with 88 rock samples collected. 1:5,000-scale geological and structural mapping is ongoing and nearing completion. Initial soil and rock assays, together with final processed and interpreted geophysical and LiDAR products, are expected in the coming weeks. Phase 2 exploration planning is underway, including controlled-source audio-frequency magnetotellurics (CSAMT) and targeted follow-up prospecting and rock sampling. Integration of geological, geochemical and geophysical datasets is underway to support drill target generation, together with preparations for drill program permitting. The Company's Phase 1 program represents the first systematic, property-wide exploration campaign conducted across the Table Mountain Project. The program is designed to define the structural, geological and geochemical framework of the Project's approximately 4 km by 2 km hydrothermal system and identify high-priority targets for follow-up exploration and drilling. To date, Toogood has completed soil sampling, ground gravity, UAV magnetic and LiDAR surveys, together with Phase 1 prospecting and reconnaissance rock sampling. Property-wide 1:5,000-scale mapping is nearing completion. Detailed 1:5,000-scale mapping led by VP of Exploration Lee Hess is refining the Project-scale geological model through field characterization of lithology, alteration zonation, vein textures and structural architecture. This work is focused on defining the fault and vein corridors interpreted to have controlled hydrothermal fluid flow, alteration development and the distribution of low-sulphidation epithermal mineralization across the Table Mountain system. Phase 1 mapping has documented areas of intense silicification, hydrothermal brecciation and multiple kilometre-scale structural corridors coincident with gold-silver-bearing low-sulphidation epithermal veins and strong pathfinder anomalism, including mercury, arsenic, antimony and thallium, throughout the core of the 4 km by 2 km alteration cell. In the northwest quadrant of Table Mountain, mapping has delineated a structurally controlled vein trend traceable through outcrop, subcrop and float for more than 2.5 kilometres, referred to as the Widowmaker trend. Widowmaker is defined by a regional arcuate fault that bends from north-south to east-northeast to northeast in orientation. At the southwestern extent of the trend, the arcuate vein corridor is intersected by a prominent west-northwest-trending 2-m-wide, high-level, epithermal quartz vein that returned mercury values of 1,335 ppb and 462 ppb from outcrop rock samples, collected by Orogen Royalties. The intersection of these two vein corridors represents a favourable structural setting for dilation and hydrothermal fluid flow and is considered an important focus for target refinement. At present, the Widowmaker trend represents a primary focus for detailed Phase 2 exploration and potential drill targeting. Several additional targets exist across the epithermal alteration cell and will be refined by pending analytical results from the detailed soil geochemistry program and subsequent mapping. Over the coming weeks, the Company expects to receive initial soil and rock assay results and final geophysical and LiDAR products. These results will be integrated with geological and structural mapping to identify and rank priority exploration targets across Table Mountain. Phase 2 exploration planning is underway and is expected to include approximately 20 line-kilometres of controlled-source audio-frequency magnetotellurics (CSAMT) to help map subsurface resistivity contrasts associated with structures, silicification, alteration and potential fluid pathways. Phase 2 work is also planned to include targeted follow-up mapping and sampling, refinement of priority drill targets and preparations for the Company's planned maiden drill program, subject to receipt of required permits and approvals. All soil and rock samples are submitted to MSALABS (MSA) in Elko, Nevada for sample preparation, with analytical work conducted at MSA's ISO/IEC 17025 accredited facilities. Sample preparation and analytical procedures are performed in accordance with industry-standard practices and the laboratory's established quality assurance and quality control protocols. Soil samples are prepared using method PRP-757 (drying and screening to -80 mesh fraction). Gold is analyzed by 30-gram fire assay with ICP-ES finish (FAS-114). Multi-element geochemistry is determined by four-acid digestion with ICP-MS finish (48 elements), with mercury analyzed separately (IMS-2305 or equivalent ultra-trace method). Rock samples are prepared using method PRP-910 (drying, crushing, splitting, and pulverizing to 85% passing 75 µm). Gold is analyzed by 30-gram fire assay with ICP-ES finish (FAS-114). Multi-element geochemistry is determined by four-acid digestion followed by ICP-MS analysis, including mercury (IMS-230). The Company has implemented a QA/QC program for all soil and rock sampling in accordance with industry best practices. Certified reference materials (CRMs) and blank samples sourced from CDN Resource Laboratories are inserted into the sample stream at regular intervals, representing approximately 6% of total samples, consisting of one CRM, one blank, and one field duplicate per 50 samples. MSALABS (MSA) also conducts its own internal QA/QC procedures in accordance with ISO/IEC 17025 accredited laboratory protocols, including the insertion of standards, blanks, and duplicate analyses. The Company will systematically review analytical results, including QA/QC data, to verify accuracy and precision. Any analytical results failing to meet established QA/QC criteria will be subject to investigation and may be re-analyzed or re-assayed as appropriate.
