Further Prospective Drilling Results from Mt Sheelite
Further Prospective Drilling Results from Mt Sheelite

Brisbane, Sep 20, 2022 AEST (ABN Newswire) - Tombola Gold Ltd (ASX:TBA) is pleased to announce continued positive results from the Company's initial drilling program at the Mt Scheelite Target, situated to the west of the highly prospective Golden Mile Complex in Cloncurry, Queensland.

Tombola Gold Chairman & Managing Director, Byron Miles, commented:

"It is very encouraging to see continued positive results at the Mt Scheelite Gold Project which in only a short period of time is shaping up to increase the Golden Mile resource base. The mineralised zone is open at depth and further testing is required along strike, particularly to the north where outcropping quartz has been mapped for another 500m, and we look forward with anticipation to drilling the deposit further in the next drill program."

"The Company's focus remains very much on first gold production in the December quarter, and importantly these results deliver the potential for Mt Scheelite to be a key contributor to the Golden Mile / Mt Freda operations in the future."

Mt Scheelite Drilling Program

An initial four-hole drilling program was previously carried out at the Mt Scheelite Target in April / May this year (refer previous ASX releases "Exploration Success to Extend Mineralisation at Mt Freda (16th May 2022), and "Further Significant Gold Intersections at Mt Scheelite" (9 June 2022)).

In this program, all four holes drilled (MS22RC001 - 004) encountered strong gold mineralisation within 50m of surface, interpreted within sub-vertically dipping quartz-sulphide veins.

Significant intersections previously reported included:

- 21m @ 3.27 g/t from 34m; (MS22RC001), including:
- 4m @ 11.53 g/t from 34m
- 19m @ 1.5 g/t Au from 51m; (MS22RC002), including:
- 5m @3.35 g/t Au from 51m
- 6m @ 6.9 g/t Au from 47m; (MS22RC003)
- 18m @ 5.1 g/t Au from 23m; (MS22RC004), including:
- 6m @ 5.5 g/t Au from 23m; 3m @ 1.8 g/t Au from 30m & 5m @ 8.7 g/t Au from 36m

Results from Current program

An additional 20 RC holes have been completed at Mt Scheelite (bringing the total number of holes drilled to 24 in the initial program) testing along a 380m north-south strike, drill testing the length of the interpreted quartz veining in outcrop and costeans previously mapped and excavated. The main zone of gold mineralisation is now seen to have a length of around 150m and is open at depth with more drilling also required along strike, particularly to the north where outcropping quartz has been mapped but not previously drilled.

The initial drilling program at Mt Scheelite has now been completed with twenty-four (24) RC holes drilled (for a total RC drill meterage of 2,060.6m) with all assays now returned.

One diamond drill hole was also drilled (MS22DD001) in the drilling program to 90.6m, with assay results from this hole still outstanding (MS22DD001). The program aimed to test the strike extent of the mineralisation encountered in the first holes drilled (MS22RC001 - 004) and has increased the along strike length of the mineralised zone to >150m.

The next program, planned to resume in two months, will aim to both infill and extend the current zone of mineralisation both along strike and at depth. Following completion of the drilling, the next objective will be to complete a maiden resource estimate for Mt Scheelite that an be fed into the future development plan. It is important to note that Mt Scheelite is approximately 700m from the current Golden Mile producing centres of Comstock and Shamrock (Figure 2*) and can leverage off established site infrastructure.

*To view tables and figures, please visit:

About Tombola Gold Ltd

Tombola Gold Ltd ASX:TBATombola Gold Ltd (ASX:TBA) is a company assembled by experienced, exceedingly well-qualified and all very well rounded team members that have previously floated exploration companies which achieved major resource discoveries and success. Between the Tombola team members, Tombola as a company have well over 100 years of accumulated experience in the mining, exploration and resource sector. Tombola principal objective is to acquire assets to explore for and develop a large IOGC or porphyry deposit funded by low-risk gold production resources. To that end, Tombola has a license covering 970 sq km prospective for gold/copper in the Mount Bryan-Red Banks-World's End area near Burra in South Australia; with strategic agreements with Queensland Mining Corporation.



Byron Miles
Managing Director

Jane Morgan
Investor and Media Relations
+ 61 (0) 405 555 618

Pamela Menzies
Company Secretary

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