Drilling Resumes on Berrigan Zinc, Gold, Silver Property Under Option From Chibougamau Independent Mines

Why It Matters

The extension could add significant zinc, gold and silver resources, enhancing Chibougamau’s asset portfolio and supporting growing demand for base metals in renewable‑energy and construction sectors.

Key Takeaways

• New drill extensions target undiscovered zinc‑gold‑silver horizon
• Phase 1 intersected up to 33.97% ZnEq over 2.9 m
• TOM‑25‑015 showed 5.08% ZnEq over 98.5 m
• High‑grade zones include 23.20% ZnEq over 4.9 m
• Project could boost Chibougamau’s resource portfolio

Pulse Analysis

The Berrigan property, located in the prolific Rouyn‑Noranda mining district of Québec, sits under a 2023 option agreement with Chibougamau Independent Mines. The region is renowned for hosting world‑class zinc‑copper‑gold systems, and the discovery of a new zinc‑gold‑silver horizon adds another layer of intrigue. As global demand for zinc, driven by construction and renewable‑energy infrastructure, continues to outpace supply, projects that can deliver multi‑metal packages are increasingly valuable to investors.

Phase 1 drilling already revealed a suite of high‑grade intersections, most notably a 33.97 % ZnEq interval over 2.9 m and a 23.20 % ZnEq stretch spanning 4.9 m. The flagship hole TOM‑25‑015 delivered 5.08 % ZnEq across a 98.5‑m core, suggesting a potentially extensive mineralized envelope. When true widths are adjusted to 80‑85 % of core length, these grades remain compelling and compare favorably with benchmark deposits in the Abitibi‑James Bay corridor. Extending five holes to intersect the newly identified zone could significantly enlarge the inferred resource.

For Chibougamau, the renewed drilling program strengthens its partnership with TomaGold and underscores a strategic push to monetize its option portfolio. Successful delineation of a multi‑metal resource would likely trigger a re‑rating of the company’s market valuation and could attract additional capital for further exploration or early‑stage development. Moreover, the added silver component offers a hedge against zinc price volatility, while the gold tail adds upside in a bullish precious‑metal environment. Stakeholders will watch upcoming assay releases and resource updates closely.