Berrigan Deep Assays Confirm Polymetallic, Lift Globex Royalty Case

Globex does not operate the project. It collects a 2% gross metal royalty on production from the Berrigan claims. No development costs or environmental liabilities attach to the royalty. The value of that royalty changes with every drill result that upgrades the resource or changes the probability of a mine. Gold grades above 5 g/t are considered high grade for underground operations (see the gold profile for typical thresholds).

The risk is still early stage. TomaGold needs to complete four more extension holes, run downhole and surface geophysics, and integrate all data to define a mineral resource. If the geophysics identifies stronger conductors aligned with the gold-copper correlation, the system could open up. If assays on the remaining holes disappoint, the deep story loses momentum.

The next concrete data point is the geophysical surveys. TomaGold is running borehole electromagnetic (BHEM) and surface UTEM surveys. Those 3D surveys will map the conductive plates that drove the drilling in the first place. Results from geophysics plus assays from the four other extension holes will likely determine whether TomaGold proceeds to a Phase 3 program.

TomaGold has not announced a timeline for the remaining assays. Globex shareholders, already holding a passive bet on the project, will wait for the next hole.