Tombill Mines Limited (OTCQB: TBLLF) gained 53.33% to $0.115 at yesterday’s close. A total of 164,635 shares of TBLLF stock were traded in contrast to an average weekly volume of 27,414. Following the company’s OTCQB joining, TBLLF stock price has risen.
TBLLF has become an OTCQB member when?
On the Geraldton and Beardmore Camp, Ontario, Tombill owns mineral exploration and past-producing gold properties that are royalty-free. TBLLF is involved in mineral exploration, primarily gold. As of today, TBLLF owns 74 claims, of which 60 are patents, five leases, and nine contain mineral rights. On top of that are 58 claims owned by TBLLF Main Group, including 54 patents and four mineral claims. Claim holders Tom and Bill Johnson initially staked these claims during the first Geraldton Gold Rush in the 1930s.
Tombill last week announced that its common shares will now be listed on the OTCQB under the symbol TBLLF. After being listed on the OTCQB since September 23, 2021, TBLLF continues to trade on the TSX Venture Exchange in Canada. TBLLF is available to US and international companies that are established and investor-focused. TBLLF need to follow best practices in corporate governance, demonstrate compliance with applicable securities laws, and observe high financial standards to qualify for OTCQB. Through listing on the OTCQB Market, TBLLF is able to build their visibility among institutional investors and retail investors in the United States.
Tombill recently provided a report on its exploration progress within the Geraldton Gold Camp, where it owns 100 percent of the patented and royalty-free Tombill Main Group property. On the Tombill Main Group, the Phase One Drill Program is in progress. The objective of this program is to extend the robust F-Zone along the western portion of Hardrock’s strike.
The southwest corner of Tombill Main Group’s eastern property boundary was found to have a fairly complex structural makeup, including some N-S trending faulting and a post-mineral dyke. In light of the newly collected drill-hole data, TBLLF’s geology team can now accurately interpret this area of complexity, allowing it to better target the F-Zone in the future. Since the release of its press release on June 17, 2021, TBLLF has also shared the following results:
- TB21-005B is drilled 50 meters above TB21-005A to test the F-Zone. An intercept of 4.1m of gold at 8.15 gpt with VG specks was encountered in the F-Zone.
- There was a wedge between TB21-005C and TB21-005. Excessive deviation from plan led to abandonment of the drill hole.
- TB21-005D was wedged into TB21-005. It was abandoned because the drilling plan had been too far off.
- TB21-005E was wedged into TB21-005. Assay results for the hole indicated that F-Zone mineralization was intersected between 1005-1119m with 608-gpt gold in BIF and quartz veins, and 5.29-gpt gold in Greywacke with sulphides.
- The F-Zone was found to be surrounded by a new zone. Gold values of 13.88 gpt and 9.17 gpt were found in two of the zone’s most significant intervals of the F2- Zone. Each interval was associated with quartz and sulphides associated with greywacke.
Shallow drilling program launched by Tombill
As part of its deep F-Zone drilling campaign, Tombill (TBLLF) is also exploring aggressively on the surface. In less than two weeks, Tombill (TBLLF) started near-surface drilling on its Main Group’s Talmora target. The target is located along the northeastern corner of its property near an old gold mine named Talmora. A third hole is in the works as we speak. TBLLF has already completed two holes from 300 to 450 meters in length. A broad zone believed to hold disseminated mineralization potential is the target.