Toogood Gold (TSXV:TGC) - 30/30 Quinlan Holes Hit Gold, Table Mountain LOI Targets Q3 Drilling

Why It Matters

The expanded drill footprint and new geophysical targeting dramatically increase Toogood Gold's chance of defining a viable resource, potentially unlocking significant shareholder value and validating its exploration approach across multiple jurisdictions.

Key Takeaways

• All 30 Quinland holes intersected gold-bearing dyke, confirming continuity.
• Strike length doubled to over 400 m, down‑dip extent also expanded.
• New GPR technique successfully mapped underground dyke, enabling blind targeting.
• High-grade intervals include 29 m @ 2.3 g/t near surface.
• Upcoming focus on Malange contact intersection and northeast strike extension.

Summary

Toogood Gold (TSXV:TGC) provided an operational update on its Newfoundland Quinland discovery, highlighting the completion of a 30‑hole drill program that intersected the gold‑bearing intrusive dyke in every hole. The company also referenced a pending Letter of Intent for its Table Mountain project in Nevada, signaling continued capital allocation to both assets.\nThe drilling results doubled the known strike length of the Quinland dyke to more than 400 metres and similarly expanded its down‑dip envelope. Intersections included a standout 29‑metre interval grading 2.3 g/t near surface, alongside multiple sub‑meter, half‑ounce‑per‑ton zones. A novel ground‑penetrating radar (GPR) survey successfully mapped the dyke beneath cover, allowing the team to step out 150‑200 metres on strike and hit the target blind, confirming the technique’s utility for future exploration.\nCEO Colin Smith emphasized the system’s predictability, noting that “the Quinland dyke is almost too predictable” and that drilling consistently hit the structure within five metres of the planned depth. He also highlighted the structural significance of the Malange lithological contact, where three test holes intersected gram‑to‑multi‑gram gold, and described the gold as primarily free‑gold within the dyke with limited wall‑rock bleed‑over. The GPR breakthrough and the identified Malange‑Quinland intersection are now top priorities for the next drilling phase.\nWith roughly $600 k of cash on hand earmarked for further field work, Toogood plans to extend drilling northeast along strike, expand GPR coverage, and test the Malange contact intersection. Successful expansion could underpin a maiden resource estimate and enhance the company’s valuation, while also demonstrating the scalability of its low‑cost, high‑precision exploration model across its two district‑scale projects.

Original Description

Interview with Colin Smith, Director & CEO of Toogood Gold

Our previous interview: https://www.cruxinvestor.com/posts/toogood-gold-tsxvtgc-expanding-high-grade-discovery-in-newfoundland-8643

Recording date: 19th March 2026

Toogood Gold Corporation (TSXV:TGC) has emerged as a compelling discovery-focused explorer following exceptional drill results at its Quinlan target in Newfoundland and the strategic acquisition of Nevada's Table Mountain epithermal project. The company's recent operational updates reveal a systematic approach to advancing high-quality targets across two of North America's premier gold jurisdictions.

At Quinlan, Toogood achieved a perfect 30-for-30 drill success rate, with every hole intersecting both the gold-bearing felsic dyke and mineralization. The discovery has doubled in strike length from 200 meters to over 400 meters while remaining open in both directions. The standout intercept of 29 meters at 2.3 grams per tonne gold near surface, with higher-grade zones approaching half an ounce, establishes the target's economic potential despite averaging 3-5 meters in true thickness.

The company's breakthrough deployment of ground penetrating radar (GPR) technology successfully mapped dyke structures under cover, enabling a step-out discovery 150-200 meters along strike. This proven methodology now provides a systematic tool to test 45 identified felsic dyke occurrences across the southwestern block.

Perhaps most significantly, Toogood validated the Melange contact as a new discovery vector. Three inaugural holes at this previously undrilled 10-kilometer geological boundary all intersected gram-to-multi-gram gold, confirming historical surface sampling. The southwestern Quinlan holes—delivering the program's best results—are vectoring toward where the Quinlan trend and Melange contact converge, creating a high-priority structural intersection target.

Simultaneously, the company secured a binding letter of intent for Nevada's Table Mountain project, featuring a 4-kilometer by 2-kilometer alteration cell matching the footprint of the 16-million-ounce Silicon-Merlin system. Outcropping epithermal quartz veins with textbook characteristics show no evidence of previous drilling despite anomalous to multi-gram gold values.

With $3.2 million in treasury plus $600,000 in flow-through financing, Toogood maintains adequate capital to advance systematic exploration programs at both projects without immediate dilution, targeting Q3 2026 for Nevada drilling while expanding Newfoundland's geological understanding through regional geochemistry.

View Toogood Gold's company profile: https://www.cruxinvestor.com/companies/toogood-gold

Sign up for Crux Investor: https://cruxinvestor.com