InvestmentPitch Media Video Discusses MAS Gold’s Results from Remaining 30 Diamond Drill Holes at North Lake Deposit in La Ronge Gold Belt Including 8.79 g/t Gold over 3.0 Meters
10 8월 2022 - 7:00PM
MAS Gold Corp. (TSXV:MAS) (OTCQB:MSGCF) (FSE:63G) released results
from the remaining 30 drill holes from its successful 2022 winter
diamond drill program in Saskatchewan. MAS Gold, a Canadian mineral
exploration company focused on advancing its gold exploration
projects in the prospective La Ronge Gold Belt of Saskatchewan,
operates six properties including the Preview-North, Greywacke
Lake, Preview SW, Contact Lake, Elizabeth Lake, and Henry Lake
Properties totalling 35,176 hectares or 86,921 acres. These
properties extend along the geologically prospective La Ronge,
Kisseynew and Glennie Domains that make up the La Ronge Gold Belt.
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These results include the remaining 22 holes from
the North Lake Deposit which are highlighted by high-grade
mineralization in the most southern hole, NL22-101 which reported
8.79 g/t gold over 3 meters and 7.0 g/t gold over 1.0 meter.
Further evaluation of NL22-101 is planned to assist in developing
an exploration strategy to follow up the high-grade results.
The table in the video shows all the results from
the winter program at the North Lake Deposit, with the systematic
infill drill program successfully intersecting near-surface gold
mineralization at less than 50 meters below surface. This data will
be used to upgrade the North Lake deposit resource model with a
focus on near surface mineralization with open pit potential,
bringing the company one step closer towards mine development.
Results from the remaining 4 holes at the Point
Deposit show an extension by an estimated 295 meters to the south
as well as down dip extension of the deposit. Drill hole RM22-060
intersected 3.00 g/t gold over 4.9 meters, including 6.65 g/t gold
over 0.8 meters along strike to the south of the historic drill
hole RM85-019. This is a notable discovery and confirms the
potential to significantly expand this deposit. Drill hole RM22-057
successfully extended down dip mineralization intersecting multiple
zones highlighted by 8.60 g/t gold over 2 meters including 14.50
g/t gold over 1 meter.
The four holes from the Preview SW Property were
split between the Preview SW Deposit, with hole PR22-188
successfully intersecting multiple mineralized zones at depth
highlighted by 13.40 g/t gold over 1.55 meters, 8.85 g/t gold over
0.7 meters and 9.47 g/t gold over 1.00 meter, and the Adit Zone
which continued to intersect mineralization along strike, with hole
PR22-109A reporting 6.55 g/t gold over 1.1 meters and 1.44 g/t gold
over 4.2 meters.
Darren Slugoski, Chief Geologist, stated: “We are
extremely excited by the positive results we have received from our
winter drill program. Drill hole NL22-101 intersected on our North
Lake deposit confirms a southern extension of the deposit as well
as an additional potential high-grade zone. The results from the
Point deposit demonstrates a strong potential for a significant
upside with 295m of untested ground between the southern edge of
the Point deposit and drill hole RM22-060. The Preview SW Deposit
continues to be an integral spoke demonstrated by the gold grades
intersected in PR22-188. Results from these thirty holes in the
Winter Program at North Lake Deposit, Point Deposit and
Preview SW Property have exceeded our team’s expectations as
they help sling-shot MAS into further developing the Hub and Spoke
Model.”
Jim Engdahl, CEO, added: “The winter drill results
together with the acquisitions of the Preview SW Deposit and
Contact Lake Mine allows MAS Gold to move towards restarting the
PEA (Prefeasibility Economic Study) in 2023. Our North Lake Deposit
continues to demonstrate feasibility of being the hub in MAS Gold’s
Hub and Spoke model along with the Preview SW deposit and the
Contact Lake Mine being the primary spokes. Management is extremely
pleased with this latest round of thirty diamond drilling
results.”
MAS Gold plans to provide a summary by late next
week of the entire Winter Drill program as well as an overview of
our plans moving forward to increase our resource and develop the
Hub and Spoke Model to create value for MAS Gold and its
shareholders.
The company recently concluded a channel sampling
program at its North Lake Deposit, which was successful in
identifying and sampling the felsite unit up to five hundred meters
along strike to the northeast of the North Lake Deposit. The
felsite is known to host the North Lake Deposit which includes an
Inferred Mineral Resource of 18,100,000 t grading 0.85 g/t Au,
representing 494,000 contained ounces of gold.
The shares are trading at $0.075. For more
information, including the resource estimates for both the
Greywacke North and Preview SW deposits, please visit the company’s
website at www.MASgoldcorp.com, contact Jim Engdahl, CEO, at
306-262-4964 or by email at Jim@MASgoldcorp.com. For investor
relations, contact Laurie Thomas, VP Investor Relations and
Business Development at laurie@MASgoldcorp.com.
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Mas Gold (TSXV:MAS)
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