TomaGold EM Survey Confirms Berrigan Deep Zone and Defines New Drill Targets

TomaGold ( (TSE:LOT) ) just unveiled an update.

TomaGold has reported interpretation results from a borehole electromagnetic survey at its Berrigan Mine project, confirming the presence and continuity of a large mineralized system at depth and validating several high-grade zinc-gold-silver intersections. The work identified ten conductive plates, including a major 160-by-300-metre target known as BER-14C that is open at depth and to the northeast, and confirmed the Berrigan Deep zone with drilling more than 450 metres below surface, prompting plans for new drilling and additional geophysical surveys aimed at expanding the known mineralized envelope and refining future exploration at the site.

The most recent analyst rating on (TSE:LOT) stock is a Hold with a C$0.08 price target. To see the full list of analyst forecasts on TomaGold stock, see the TSE:LOT Stock Forecast page.

Spark’s Take on TSE:LOT Stock

According to Spark, TipRanks’ AI Analyst, TSE:LOT is a Neutral.

The score is primarily constrained by very weak financial performance (no revenue, ongoing losses, heavy cash burn, and negative equity with rising debt). Technicals provide some support due to strong trend and positive MACD, but extremely overbought RSI/Stoch reduce confidence. Valuation remains unattractive/unclear given a loss-driven negative P/E and no dividend yield.

To see Spark’s full report on TSE:LOT stock, click here.

More about TomaGold

TomaGold Corporation is a mineral exploration company focused on advancing its Berrigan Mine project in the Chibougamau mining camp of Québec. The company targets polymetallic mineralization, particularly zinc, gold and silver, and is working to expand and better define resources on a property where it holds an option to acquire 100% ownership.

Average Trading Volume: 488,505

Technical Sentiment Signal: Buy

Current Market Cap: C$25.17M

For an in-depth examination of LOT stock, go to TipRanks’ Overview page.