General

TONOGOLD RESOURCES, INC. HITS MULTIPLE ENCOURAGING INTERCEPTS ON THE COMSTOCK LODE

Encouraging outcomes encompass 3.05 METERS AT 20.83 g/t AuEq internal 7.62 meters at 9.51 g/t AuEq.


LA JOLLA, Calif.,
July 13, 2021 (Newswire.com) –

TONOGOLD RESOURCES, INC. (OTC TNGL) (“Tonogold” or “the Company”) is thoroughly pleased to divulge the implications of newest drilling on the Comstock Lode within the Comstock Mining District shut to Virginia Metropolis, Nevada.

Tonogold objectives to indicate off the existence of a worthy mineable helpful resource of gold and silver within the Comstock Mining District.

Comstock Drilling

Tonogold has got assays from 5 no longer too long ago done holes within the Company’s ongoing exploration of the Comstock Lode. Drilling has shifted to trying out the mid to shallow levels of the Lode the assign two holes cling been done within the Segregated Belcher purpose (TC-009 and TC-010) and the final three holes examined the Con Imperial-Alpha purpose (TC-011, TC-012, and TC-013).  Highlights of the implications encompass 6.10 meters (m) at 6.77 grams per tonne gold equal (g/t AuEq) in TC-009, 1.52 m at 5.60 g/t AuEq in TC-011, 7.62 m at 9.51 g/t AuEq in TC-012 in conjunction with 3.05 m at 20.83 g/t AuEq, and 1.52 m at 4.02 g/t AuEq in TC-013.

Results of the 5 holes are summarized within the following desk:

Hole No

From (m)

To (m)

Measurement (m)

Au (g/t)

Ag (g/t)

AuEq60:1 (g/t)

TC-009

213.36

225.55

12.19

3.359

77.7

4.66

in conjunction with

214.89

220.98

6.10

4.867

113.9

6.77

and

295.66

303.28

7.62

1.754

17.2

2.04

TC-010

274.32

278.89

4.57

1.915

18.9

2.23

TC-011

111.25

118.87

7.62

1.984

31.0

2.50

in conjunction with

112.78

114.30

1.52

4.560

62.6

5.60

and

129.54

141.73

12.19

1.516

51.8

2.38

in conjunction with

132.59

135.64

3.05

3.000

89.9

4.50

TC-012

102.11

109.73

7.62

5.959

213.2

9.51

in conjunction with

102.11

105.16

3.05

13.250

454.5

20.83

and

147.83

156.97

9.14

1.650

18.7

1.96

in conjunction with

155.45

156.97

1.52

2.840

9.6

3.00

TC-013

22.86

25.91

3.05

1.618

99.8

3.28

in conjunction with

24.38

25.91

1.52

1.920

126.0

4.02

and

33.53

50.29

16.76

0.822

41.0

1.50

and

59.44

62.48

3.05

1.186

84.0

2.59

in conjunction with

60.96

62.48

1.52

1.595

141.0

3.95

and

83.82

85.35

1.52

1.965

79.7

3.29

and

102.11

109.73

7.62

2.399

93.6

3.96

in conjunction with

102.11

105.16

3.05

3.690

171.0

6.54

*AuEq calculated utilizing the following system:  Au g/t + (Ag g/t ÷ 60).

Upright thickness is estimated at approximately 80% to 95% of interval length for TC-009, 65% for TC-010, and 70% to 75% for TC-011, TC-012 and TC-013.

Brian Metzenheim, intervening time CEO, commented: “Essentially the latest drilling confirms Tonogold’s notion that mineralized materials assaying between 5 and 50 g/t AuEq stays in space alongside the Comstock Lode. We sight ahead to the implications of the extra holes done within the assign and are reviewing permitting alternatives for extra drilling.”     

Despicable ground prerequisites on the stage of the footwall zone within the Segregated Belcher purpose resulted in runt to no sample recovery in both holes that examined this stage (TC-009 and TC-010, gaze Resolve 2 below). As a outcomes of the miserable sample recovery, the zone has no longer been adequately examined. The Company is evaluating other systems to make stronger sample recovery sooner than committing to extra drilling within the deeper levels of the Comstock Lode.     

Results of the drilling are summarized within the following figures.

Resolve 1. Notion scheme showing drill gap areas in pink and section traces thru the Segregated Belcher and Con Imperial – Alpha targets.

A picture containing diagram  Description automatically generated

Resolve 2. Longitudinal section showing drilling done to this level alongside the Comstock Lode.

A picture containing diagram  Description automatically generated

Resolve 3. Depraved section thru the Segregated Belcher purpose (section A-A’ in Resolve 1 above)

A picture containing diagram  Description automatically generated

Resolve 4. Prolonged section within the Con Imperial- Alpha purpose (section B-B’ in Resolve 1 above)

A picture containing diagram  Description automatically generated

Tonogold has done a further three holes within the better levels of the Comstock Lode, one gap within the southern a part of the Con Imperial purpose and two holes within the Divide assign (on the outdated skool Bullion Mine). Assays for these holes are pending.

Drilling with the truck-mounted RC rig became no longer too long ago discontinued and the rig has been removed from the property. The fresh a part of exploration anticipates winding up a further 9 holes deliberate on Potosi and Chollar ground, on the northern discontinue of the corporate’s land holdings alongside the Comstock Lode. These holes will doubtless be done utilizing the track rig following completion of drilling on the Occidental/Brunswick Lode. Having a sight extra ahead, the corporate is utilizing its uncommon aggregate of geological and historical prognosis to originate extra exploration targets that can advance its purpose of defining a worthy mineable helpful resource of gold and silver within the Comstock Mining District.

Occidental/Brunswick Lode

Attributable to a continual scarcity of drill rods, Tonogold has been unable to originate the acceleration of its Occidental/Brunswick Lode drill program launched in uninteresting April. Contemporary discussions with the drill company ticket a diversified track rig will advance readily accessible for the length of the following several weeks. Unique scheduling suggests the rig may per chance per chance per chance launch drilling alongside the Occidental/Brunswick Lode sooner than the pinnacle of July.

Corporate Update

Tonogold would purchase to divulge the resignation of Alan Edwards, Chairman of the Board, efficient July 31, 2021. Mr. Edwards has served as Chairman of the Board for Tonogold since April 2020. The Company wants to thank Mr. Edwards for his give a boost to and dedication to the Company.

Tonogold’s QA/QC Procedures:

Drill core is logged for geology, photographed, and marked for sampling on breaks averaging 1.52 meters in length. Following logging, the core is sawn in half with one half positioned in labeled sample baggage and sealed for offer to the assay lab. RC samples are unruffled on 1.52-meter intervals in labeled sample baggage and typically have a ¼ destroy up. Representative chips from the intervals are logged for geology. Every core and RC samples are kept at a right facility ahead of transport to the assay lab.            

Licensed requirements, blanks, and duplicate samples are inserted within the sample series on the creep of one every per every 20 samples. Samples are dropped at ALS Minerals’ lab in Reno, Nevada the assign they are dried, overwhelmed, and pulverized. Gold prognosis is performed on the Reno facility utilizing a 50-gram fire assay with an AA stay (Au-AA24). Samples containing bigger than 10 g/t Au are reanalyzed utilizing fire assay with a gravimetric stay (Au-GRA21). Silver analyses are done at ALS Minerals’ Lab in Vancouver, Canada the utilize of a four-acid digestion with an AAS stay (Ag-AA61). Samples containing bigger than 100 g/t Ag are reanalyzed utilizing a four-acid digestion with an ICP-AES stay (Ag-OG62). Results for requirements, blanks, and duplicates are monitored for precision, accuracy, and contamination upon receipt of assays.

Qualified Persons:

Brian Metzenheim, (MMSA-QP), intervening time CEO for Tonogold Sources and a certified person as defined by National Instrument 43-101, has designed and supervised the work done for Tonogold Sources outlined in this info unlock. The technical declare disclosed in this press unlock has been reviewed and current by Mr. Metzenheim. Mr. Metzenheim is never any longer self ample of Tonogold as he’s within the plight of intervening time CEO and holds incentive warrants.

Forward-Having a sight Statements:


This press unlock and any associated calls or discussions may per chance per chance per chance encompass ahead-looking out statements internal the that formulation of the Interior most Securities Litigation Reform Act of 1995 about Tonogold. Forward-looking out statements are statements that are no longer historical facts. All statements, rather than statements of historical facts, are ahead-looking out statements. Forward-looking out statements encompass statements about issues corresponding to: capital elevating actions and negotiations; market prerequisites; future adjustments in exploration actions, manufacturing potential, and operations; future exploration, manufacturing, operating, and overhead costs; manufacturing of feasibility experiences, technical reports, or other findings associated to estimated mineralization; operational and administration restructuring actions; capital expenditures (by Tonogold or other parties) and their impact; investments, acquisitions, joint ventures, strategic alliances, industrial combos, asset gross sales; consulting, operational, tax, monetary and capital projects, and initiatives; contingencies; environmental compliance and adjustments within the regulatory ambiance; choices, gross sales, equity dilution, and other actions referring to debt or equity securities; in conjunction with a redemption of the debenture, and future working capital, costs, revenues, industrial opportunities, debt levels, money flows, margins, earnings, and divulge. The phrases “imagine,” “depend upon,” “await,” “estimate,” “carrying out,” “notion,” “can cling to,” “intend,” “may per chance per chance per chance,” “will,” “would,” “possible,” and identical expressions establish ahead-looking out statements, but are no longer the unfamiliar formulation of doing so. These statements are in response to assumptions and assessments made by Tonogold administration in light of their abilities and their thought of historical and fresh trends, fresh prerequisites, that you just may per chance per chance per chance imagine future trends, and other factors they imagine to be acceptable. Forward-looking out statements are no longer ensures, representations, or warranties, and are area to dangers and uncertainties that can per chance per chance narrate off staunch outcomes, trends, and industrial decisions to vary materially from those contemplated by such ahead-looking out statements. Incidence of such events or conditions may per chance per chance per chance cling a materials harmful stay on the industrial, monetary condition, outcomes of operations, money flows, or the market label of Tonogold’s securities. All subsequent written and oral ahead-looking out statements by or attributable to Tonogold or individuals acting on their behalf are expressly certified of their entirety by these factors. Tonogold doesn’t undertake any responsibility to publicly change or revise any ahead-looking out statement. Neither this press unlock nor any associated calls or discussions constitutes a proposal to promote or the solicitation of a proposal to take every other securities or Tonogold.

Contact Data for Tonogold

Brian Metzenheim


Period in-between CEO

M: +775 848 9578

[email protected]

Offer: Tonogold Sources, Inc.

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