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Toronto, Ontario and Geraldton, Ontario–(October 18, 2022) – Tombill Mines Limited (TSXV: TBLL) (the “Company”, “Tombill”) announces that effective immediately it has suspended all field exploration on its properties in the Geraldton district and is placing them on care and maintenance.
This decision was made following an extensive review by management of Tombill’s operations in Geraldton and of its neighbour that is constructing a gold mine which is expected to begin functioning in 2024. Management considers it prudent and sensible to temporarily pause exploration activities until the Company gathers, assembles, and analyzes the invaluable and germane information and data that will become available from its neighbour’s mine that may be vital to Tombill’s future exploration plans.
Founded 1935, by Newmont Mining and prospectors’ ‘Tom’ and ‘Bill’ Johnson, Tombill (TSXV: TBLL) (OTCQB: TBLLF) owns 2 of the 10 past-producing mines in the Geraldton gold district, 4 claim groups, of which 3 are situated in the Geraldton gold district of north-central Ontario (about 225 km NE of Thunder Bay). Geraldton offers optimal and installed mining infrastructure. Holdings comprise 74 royalty-free mining claims (60 fully owned patented claims, 5 leases, 9 mineral rights only). Of these, the 51-patented claim Main Group is in the center of the Geraldton Gold District and straddles the Trans-Canada Highway; the 5-claim Ellis Group lies 4 km south of the town of Geraldton; and the original Tombill Mine group of 6-patented claims sits 10 km west-southwest of Geraldton. The Tombill Gold Mine produced 68,737 high-grade gold oz between 1938 and 1942 in the southeast corner of the claim group. The Talmora Longlac Mine, located in the northeast of the Main Group property, was built in 1941, but saw only minor production before closing in 1942 (1,406 gold oz). The Main Group borders on the property of the under-construction Greenstone Mine, which will be one of Canada’s largest gold mines with production aimed for first half 2024.
Tombill Property Location Map
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For more information, please visit www.tombillmines.com, and contact:
Email: [email protected]
Tel: +1 647 493 8270
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