SASKATOON, SK, May 3, 2021 / CNW / – MAS Gold Corp (“MAS Gold” or the “Company”) is pleased to announce the commencement of a Preliminary Economic Assessment (“PEA”) for its Integrated Greywacke Project and North Lake exploitation of a gold project in the La Ronge gold belt Saskatchewan.
The PEA, scheduled for release in the third quarter of the 2021 schedule, will include updated mineral resource estimates, in accordance with NI 43-101, for Greywacke North and North Lake deposits. Updates will incorporate recently completed 2021 definition drill results, which will be released in due course.
âSubject to a positive PEA report, MAS Gold will begin to work towards its main objectives, the first being to begin underground development at Greywacke North and increase the definition of mineral resources for underground mining and mining. treatment by gravity separation â, explains the CEO of MAS Gold Jim engdahl.
âThe future potential production from the Greywacke North deposit, and any excess positive cash flow it may generate, could then help meet the second goal of developing a star-centric star-shaped mining operation. North Lake deposit, while maintaining minimum share dilution for the company and its shareholders. In the meantime, MAS Gold continues to move towards an aggregate mineral resource base of 1,000,000 ounces of gold. “
The company is committed Stephen godden, C.Eng., FIMMM, an independent mining consultant, to lead and manage a team of independent consultants and to complete the PEA technical report. He has over 40 years of experience in the mining industry, covering medium to large scale surface operations and numerous underground mining methods in small conventional / artisanal operations to large mechanized multiple shaft mines.
David Tupper, P. Geo. and Stephen godden, C. Eng. FIMMM, are Qualified Persons under National Instrument 43-101. They are both responsible for the preparation of this press release; they both read and approved its technical aspects.
About MAS Gold Corp.
MAS Gold is a Canadian mining exploration company specializing in exploration projects in the future La Ronge gold belt in Saskatchewan. MAS Gold operates four properties in the gold belt, totaling 33,843 hectares (83,628 acres): Greywacke Lake; Overview North; Elizabeth lake; and Henry Lake, which span a total of approximately 60 kilometers of the geologically prospective area La Ronge, The Kisseynew and Glennie estates which make up the La Ronge gold belt.
MAS Gold’s holdings include Greywacke North, North Lake and point gold deposits and historically defined drilling Elizabeth lake volcanic-core massive copper-silver sulphide deposit.
The Greywacke North deposit, which hosts multiple high grade gold stratabound 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 cut-off gold grade of 5.0 g / t Au (see the technical report of June 01, 2016).
the North Lake The deposit located on the 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 of the April 10, 2020).
MAS Gold Corp.
President and CEO
Caution regarding forward-looking information and statements:
The information contained in this press release contains forward-looking statements based on assumptions as of the date of this press release. These statements reflect the current estimates, beliefs, intentions and expectations of management. These 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 important factors, many of which are beyond their control. These factors include, but are not limited to: risks and uncertainties associated with MAS Gold’s limited operating history, the need to comply with environmental and government regulations, the results of exploration programs on their projects, and risks and uncertainties. identified in each of their annual and interim financial reports. management statements and 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 by applicable securities legislation, MAS Gold does not undertake to publicly update or revise forward-looking information.
Neither the 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 press release.
SOURCE MAS Gold Corp
For More Information: For more information on MAS Gold, please visit www.masgoldcorp.com or contact: Lubica Keighery, (778) 889-5476, [emailÂ protected]