Precious Metals

MAS Gold Corp ("MAS Gold" or the "Company") is pleased to report the commencement of a Preliminary Economic Assessment ("PEA") for its proposed integrated Greywacke and North Lake gold project operation in the La Ronge Gold Belt of Saskatchewan .

MAS Gold Corp. - TSX-V: MAS (CNW Group/MAS Gold Corp)

The PEA, planned for release in the third quarter of calendar 2021, will include updated Mineral Resource estimates, to NI 43-101 standards, for the Greywacke North and North Lake deposits.  The updates will incorporate the recently completed 2021 definition drilling results, which will be reported in due course.

"Subject to a positive PEA report, MAS Gold will begin working towards its main goals, the first being to commence underground development at Greywacke North and increasing the Mineral Resource definition in preparation for underground mining and processing by gravity separation," explains MAS Gold CEO Jim Engdahl .

"Future potential production from the Greywacke North deposit, and any surplus positive cashflow it may generate, could then help achieve the second goal of developing a hub and spoke model mining operation centred on the North Lake deposit, while maintaining a minimum share dilution to the company and its shareholders.  In the meantime, MAS Gold continues to advance towards an aggregate Mineral Resource base of 1,000,000 ounces gold."

The Company has engaged Stephen Godden , C.Eng., FIMMM, an independent mining consultant, to both direct and manage a team of independent corporate consultants and to complete the PEA Technical Report.  He has over 40 years of experience in the mining industry, covering medium- to large-scale open pit operations and many different underground mining methods at small, conventional/hand-got operations to large, multi-shaft mechanized mines.

Qualified Person

David Tupper , P. Geo. and Stephen Godden , C.Eng. FIMMM, are qualified persons within the context of National Instrument 43-101.  They are both responsible for the preparation of this news release; they have both read and approved its technical aspects.

About MAS Gold Corp.

MAS Gold is a Canadian mineral exploration company focused on exploration projects in the prospective La Ronge Gold Belt of Saskatchewan.  MAS Gold operates four properties in the gold belt, totaling 33,843 hectares (83,628 acres): Greywacke Lake; Preview North; Elizabeth Lake ; and Henry Lake , which extend along a total of approximately 60 kilometres of the geologically prospective La Ronge , Kisseynew and Glennie Domains that comprise the La Ronge Gold Belt.

MAS Gold's holdings include the Greywacke North, North Lake and Point gold deposits and the historically drill defined Elizabeth Lake copper-silver volcanic-hosted massive sulphide deposit.

The Greywacke North deposit, which hosts multiple stratabound, high-grade gold-bearing zones, has an estimated Indicated Mineral Resource of 255,500 t at 9.92 g/t Au for 81,500 ounces of gold, plus an Inferred Mineral Resource of 59,000 t at 7.42 g/t Au for 14,100 ounces of gold, at a gold grade cut-off 5.0 g/t Au (see the Technical Report dated June 01 , 2016).

The North Lake deposit located at Preview-North Property is estimated to contain an Inferred Mineral Resource of 14,110,000 t grading 0.92 g/t Au for 417,000 ounces of gold (see the Technical Report dated April 10, 2020 ).

MAS Gold Corp.

Jim Engdahl

President & CEO

Caution Regarding Forward-Looking Information and Statements:

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. MAS Gold cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to MAS Gold's limited operating history, the need to comply with environmental and governmental regulations, results of exploration programs on their projects and those risks and uncertainties identified in each of their annual and interim financial statements and management discussion and analysis. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, MAS Gold undertakes no obligation to publicly update or revise forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.


Cision View original content to download multimedia:

News Provided by Canada Newswire via QuoteMedia

a pair of glasses atop stock charts next to a gold bar

5 Top Weekly TSXV Performers: Assay Results Push Aton Resources Higher

The S&P/TSX Venture Composite Index (INDEXTSI:JX) continued to descend last week, weighed down by factors like widespread inflation, which is eroding investor sentiment.

Thursday (May 12), saw the junior index fall to 661, its lowest point since December 2020. However, by Friday (April13) morning, the TSXV had begun a slow climb higher, similar to other larger indexes. It closed at 696.79.

Although gold is widely considered a hedge against inflation, the yellow metal's price sank over the second week of May, slipping as low as US$1,801 per ounce.

Keep reading...Show less



Wheaton Precious Metals™ Corp. ("Wheaton" or the "Company") announces that the nominees listed below were elected to the Board of Directors at the 2022 Annual and Special Meeting of Shareholders. Detailed results of the vote for the Board of Directors of the Company are shown below. As previously announced, Mr. Doug Holtby who had served as Chair of Wheaton is retiring and did not stand for reelection, and Mr. George Brack has been appointed the role of Chair of the Board. In addition, Ms. Jaimie Donovan has been elected to the Board.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
bitcoin and gold

Top Stories This Week: Gold Slumps, Bitcoin Crash Spurs "Crypto Winter" Calls


We're wrapping up what's been yet another bumpy week for gold.

The yellow metal started at around US$1,870 per ounce, but by the time of this writing on Friday (May 13) morning, it had declined to just below the US$1,810 level.

Diverse factors have been at play in the market this week, including major strength in the US dollar, which reached its highest point in 20 years early in the period. The latest Consumer Price Index data was also released — it shows an increase of 0.3 percent month-on-month and an 8.3 percent rise year-on-year.

Keep reading...Show less
Alianza Minerals Private Placement Fully Subscribed

Alianza Minerals Private Placement Fully Subscribed


Alianza Minerals Ltd

Vancouver, BC TheNewswire - May 13, 2022 - Alianza Minerals Ltd. (TSXV:ANZ ) ( OTC:TARSF) (" Alianza " or the " Company ") is pleased to announce the non-brokered private placement of 10 million Units of the Company at a price of $0.075 per Unit for gross proceeds to the Company of up to $750,000 (the " Offering ") is fully subscribed and will be closed shortly.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Jazz Announces Closing Of First Tranche Of Private Placement Of Units

Jazz Announces Closing Of First Tranche Of Private Placement Of Units


Vancouver, British Columbia, Canada May 13, 2022 TheNewswire - Jazz Resources Inc. ( TSXV:JZR ) (the " Company " or " JZR ") is pleased to announce that it has closed the first portion of its previously announced non-brokered private placement offering (the " Offering ") of units (the " Units ") by issuing 860,250 Units at a price of $0.80 per Unit for gross proceeds of $688,200.  Each Unit is comprised of one common share (a " Share ") in the capital of the Company and one share purchase warrant (a " Warrant ").  Each Warrant shall entitle the holder to acquire one additional common share in the capital of the Company at a price of $1.20 per Share for a period of 12 months after the date of issuance of the Warrants.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News