Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
MONTREAL, QUEBEC–(Marketwire – Feb. 3, 2012) – TOMAGOLD CORPORATION (TSX VENTURE:LOT)(“TomaGold” or the “Company”) – is pleased to announce the beginning of a 3,000 metres, 21 holes, drill program on the 100% owned Monster Lake Property located to the southwest of the Chapais-Chibougamau mining districts.
The Monster lake property was recently acquired by TomaGold, along with two other gold projects (Urban and Vassan), from Stellar Pacific Ventures inc. Over the past two years, Stellar drilled 46 diamond drill holes (5,235 m) on gold bearing structures defined along a 4 km long NNE striking mineralized corridor. The mineralization is related to dark quartz-sulphide veins within an altered shear zone ranging from 3 to 10 metres in width in basaltic units.
