TomaGold Launches Major Phase 2 Exploration to Expand Berrigan Deep Zone

The latest announcement is out from TomaGold ( (TSE:LOT) ).

TomaGold has launched a Phase 2 exploration program at its Berrigan Mine project in Québec, following strong Phase 1 drill results and borehole electromagnetic imaging that led to the discovery of the Berrigan Deep zone. The campaign will extend five existing drill holes that were previously too short to fully test conductive targets at depth and will systematically apply borehole EM to refine deep targeting and evaluate mineralization continuity over more than 250 metres.

In parallel, the company will carry out a large-scale surface electromagnetic survey covering 4 km and probing depths of up to 2 km to identify additional conductive targets similar to Berrigan Deep. The combined drilling and geophysical work is intended to demonstrate the lateral and vertical extent of Berrigan Deep and generate new high-priority targets, potentially increasing the project’s mineral inventory and strengthening TomaGold’s exploration pipeline for investors and partners.

The most recent analyst rating on (TSE:LOT) stock is a Hold with a C$0.07 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 constrained primarily by very weak financial performance (no revenue, recurring losses, sustained cash burn, and negative equity). Technicals are only mildly supportive with mixed trend signals and subdued momentum, while valuation provides limited help due to the negative P/E and no dividend.

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

More about TomaGold

TomaGold Corporation is a mineral exploration company focused on precious and base metals in Québec’s Chibougamau Mining Camp. The company targets gold- and zinc-rich zones through drilling and advanced geophysical methods, aiming to expand its resource base at projects such as the Berrigan Mine and improve its position within the Canadian exploration sector.

Average Trading Volume: 513,533

Technical Sentiment Signal: Buy

Current Market Cap: C$22.21M

For a thorough assessment of LOT stock, go to TipRanks’ Stock Analysis page.