MAS Gold Corp. (TSXV: MAS) has released an updated Mineral Resource Estimate (MRE) for the North Lake Gold Deposit, an exploration project the company is focused on advancing, located in the prospective La Ronge Gold Belt of north-eastern Saskatchewan.
At a marginal grade cut-off of 0.40 grams per tonne gold (g/t Au), the North Lake Gold Deposit is estimated to contain an Indicated Mineral Resource of 13.8 Mt grading 0.88 g/t Au, for 389,000 contained oz of gold (oz Au), and an Inferred Mineral Resource of 3.6 Mt grading 0.82 g/t Au for 95,000 contained oz of gold.
This estimate updates an earlier Mineral Resource Estimate from late 2021 and is a 79% upgrade of the estimated tonnes and 81% of the in-situ gold to the Indicated category as well as an increase in the average estimated grade by 2.4%. The 2021 estimate totalled 18.1 Mt at 0.85 g/t Au for 495,000 oz Au, in the Inferred category.
The estimate follows MAS Gold’s 2022, northern winter drilling programne at North Lake (34 holes: 4,088.5 m).
CEO and Director, Jim Engdahl, said the upgrade in the classification of the Mineral Resource is an important outcome of the 2022 drilling programme that resulted from a tighter drill spacing and twinning of historical drill holes. This allowed for a greater confidence in the near surface Mineral Resource.
“This result gives us great confidence in the North Lake Deposit and solidifies it as our central Hub within MAS Gold’s Hub and Spoke Model. Our strategic plan for MAS Gold is to increase resources and advance the Hub and Spoke model creating value for the Company and its shareholders. This is another step towards achieving our long-term goal to be a mining operation.”
For further information please visit: https://www.masgoldcorp.com/
