MAS Gold Corp Initiates Preliminary Economic Assessment Study on Greywacke North and North Lake Projects

 
 

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.  

 
 
 

SOURCE MAS Gold Corp

 

 

 

 Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/May2021/03/c4497.html  

 
 

News Provided by Canada Newswire via QuoteMedia

The Conversation (0)
Gold bars with text: "5 Top Canadian Mining Stocks This Week."

Top 5 Canadian Mining Stocks This Week: Avanti Gold Gains 158 Percent on Misisi Settlement

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

Statistics Canada released its June Labour Force Survey on Friday (July 11). The data indicated that 83,000 new jobs were added to the workforce, led by 34,000 new employees in the wholesale and retail trade category and a 17,000 worker rise in the healthcare and social assistance category.

In other positive news for the Canadian job market, the overall employment rate rose by 0.1 percent to 60.9 percent, while the unemployment rate declined by 0.1 percent to 6.9 percent.

Keep reading...Show less
Gold bar on nuggets with "5 Top Australian Mining Stocks" text overlay.

Top 5 Australian Mining Stocks This Week: Yandal Shares Double on Arrakis Drilling Results

Welcome to the Investing News Network's weekly round-up of Australia’s top-performing mining stocks on the ASX, starting with news in Australia's resource sector.

This week's top-performing stocks list is dominated by oil and gas companies, alongside gold and lithium companies.

In Australian mining news, the Fair Work Commission ruled that BHP (ASX:BHP,NYSE:BHP,LSE:BHP) must raise the wages of 2,200 workers at three coal mines in Queensland. The workers in question were employed indirectly through a hiring firm and were being paid significantly less than their peers working directly under BHP.

The case was brought by two worker's unions and based on the Same Job, Same Pay reforms made by the government last year. To align wages, the FWC ruled BHP must raise the labour hire employees' wages by AU$30,000 each.

Keep reading...Show less
Pilbara region, Western Australia, Australia.

Pilbara 2.0: Inside Australia’s Newest Gold Frontier

The Central Pilbara region of Western Australia is undergoing a quiet revolution that is rapidly reshaping the global gold exploration landscape.

Once dismissed as a technically challenging and geologically inconsistent terrain, Pilbara is now emerging as one of the world’s most exciting new gold frontiers and drawing serious attention from institutional investors, driven by transformative discoveries, a maturing geological model and a wave of junior explorers tapping into underexplored intrusive-hosted systems.

Anchored by the multimillion-ounce Hemi discovery — one of the most significant gold finds in Australia in over a decade — this region is not just proving its geological potential, but also demonstrating the kind of scale, consistency and margin profile that modern gold investors seek. As the discovery window remains wide open and valuations are still accessible, the Central Pilbara presents a rare opportunity for early exposure to what may become one of Australia’s next tier-one gold districts.

Keep reading...Show less
A mining truck within the outline of Australia's map on a clear day.

Is Australia on the Brink of a New Mining Super Cycle?

Mining remains as a cornerstone of Australia’s GDP and export earnings, but current global challenges such as trade disputes and price changes may be straining its foundations.

A recent FocusEconomics report tackled Australia’s resource wealth, tracing from the gold rushes of the 1850s to the iron ore and coal booms of the 21st century.

Keep reading...Show less

Latest Press Releases

Related News

×