QUEBEC – Now that Toronto's IamGold Corp. is drilling at the Monster Lake gold project 45 km southwest of Chibougamau, the property is shows signs of living up to its name. Hole ML-14-108 returned 11.55 g/t Au over 10.47 metres, including 48.90 g/t over 2.0 metres. Hole ML-14-110 assayed 13.65 g/t Au over 3.77 metres, including 46.0 g/t over 1.10 metres.
IamGold optioned the Monster Lake property from Montreal's Toma Gold Corp. in November 2013. IamGold can earn a 50% interest if it makes scheduled cash payments and exploration expenditures totaling US$17.6 million over five years. Phase one of the drilling (4,529 metres in nine holes) targeted the direct down-dip and lateral extensions of the 325-Megane mineralized zone previously drilled by Toma.
IamGold says three sheared, altered and mineralized zones have been confirmed on the property. The zones appear to be sub-parallel and are spaced about 100 metres apart. Monster Lake is underlain by Archean volcanic rocks of the Obatogamau Formation and is traversed by an important deformation corridor and gold bearing mineralized structures.
Please visit www.TomaGoldCorp.com for more information about the Monster Lake project.