Hole NL21-068 intersects 103.0 meter interval
of 1.38 grams per tonne Gold
VANCOUVER, BC, Nov. 29, 2021 /CNW/ - MAS Gold Corp.
(TSXV: MAS) ("MAS Gold" or the "Company") is pleased to
announce results from the summer drill program at the North Lake gold deposit on its 100% owned
Preview-North Property in the La Ronge Gold Belt, Saskatchewan. A total of 3,490 meters were
drilled in 11 completed core drill holes. (see Table 1, Figure
1).
2021 North Lake Summer Drilling Highlights
- NL21-068 confirms the continuity of mineralization with
103.0 meters (m) of continuous gold mineralization at
1.38 grams per tonne (g/t) gold (see Figure 2).
- NL21-064, the most southern hole drilled in 2021 (see Figure
3), was designed to be an aggressive 80m step-back drill hole to test the southwestern
down dip extension of the North
Lake deposit. The drill hole successfully intersected
17.0 m of 1.26 g/t gold mineralization situated 1
meter below the surface as well as a second mineralized zone of
16.50 m of 1.06 g/t gold at depth.
- NL21-070 defined a 260 m down dip
extension of the mineralized horizon (see Figure
4).
Jim Engdahl, President and CEO,
remarked, ""The 2021 summer drilling results have again increased
the known footprint of the North
Lake gold deposit, confirming it as the foundation for MAS
Gold's Hub and Spoke business model as outlined in MAS Gold News
Releases dated August 12, 2021. The
results from our 2021 drill program continue to demonstrate both
the significant thickness of the North
Lake gold deposit with hole NL21-068 reporting 103.0 m of 1.38 g/t and the viability of
expansion to the southwest, most notably with the near surface
mineralization encountered in NL21-064."
2021 Summer Drilling Completion
Hole NL21-064 encountered the first large, mineralized interval
in the southern portion of the property intersecting 17 metres (m)
grading 1.26 g/t gold beginning at a depth of 1.0m that included a 3.0m interval that averaged 4.96 gt gold from
15.0m-18.0m. It represents an opportunity to extend the
mineralization to the southwest and down dip from where it has been
identified historically.
The deposit typically hosts one or two higher grade mineralized
zones located within broad zones of low grade mineralization as
demonstrated by hole NL21-070 which intersected zones of 1.21 g/t
gold over 20.0 m (starting at
108 m) and 1.14 g/t gold over
23.6 m (starting at 233 m) within a 159.4 meter zone that averaged
0.69 g/t gold (see Table 1, Figure 4).
The 2021 North Lake summer drill program has concluded drilling
a total of 3,490 meters, completing 11 core holes and abandoning
one hole (NL21-063) at 11.5 meters due to mechanical breakdown.
Completed holes intersected new near surface mineralization as well
as extending broad zones of continuous mineralization up to 260
meters below surface.
Mineralization at the North
Lake deposit is comprised of broad zones of moderately
northwest dipping zones of sheeted hematitic quartz veins within a
competent host felsite unit (also mapped as arkose). Higher grade
zones are generally associated with higher vein densities and
variable amounts of associated pyrite, pyrrhotite, magnetite and
fine-grained visible gold.
Previous Drilling
Since 2019, MAS Gold has drilled a total of 7,586.5 metres in 31
completed core holes and collected 126 one metre channel samples on
the property. To date, 72 completed holes have been drilled on the
property totalling 13,309.5 m (see
Figure 1).
Upcoming Winter 2022 Drilling Program
MAS Gold is currently budgeting an extensive 2022 winter drill
program at North Lake and will
complete up to 5500 meters at the North
Lake deposit. The program will have four objectives:
- Extend mineralization intersected in NL21-064 to the south and
west.
- Extend mineralization to the Northeast with aggressive drill
strategy.
- Infill drilling with a 50 m x
25 m spacing targeting near surface
gaps in the resource.
- Twin up to 4 historic holes with robust QAQC protocols to
upgrade the resource.
Sample Quality Assurance / Quality Control
Working with its principal geological exploration consultant,
Axiom Exploration, MAS Gold designed and executed a vigorous
quality control/quality assurance program for its 2021 summer drill
program.
Sample intervals were laid out with the objective of capturing
homogenous lithology and not cross any significant alterations with
the sample guideline of a minimum samples size of 0.50m and a maximum sample size of 2.0m. All core is logged, tagged, photographed,
cut and stored in a secure facility in the North Lake deposit area.
Samples were marked on core with assigned sample number from a
pre-numbered sample tag. These markings and stapled sample tags
were placed at the start of the intervals. Drill core was cut using
a core saw with a diamond bit blade using fresh flowed water to
ensure no possible contamination between samples. Care was taken to
ensure that the same half of the core was sampled for the entire
sample interval to maintain consistency and no biases in the assay
results. Core duplicates were generated by quarter sampling
core.
MAS Gold utilized TSL labs in Saskatoon. All rock sample preparation
conducted by TSL at their preparation facility in Saskatoon, SK. Rock samples were dried,
crushed to 95% passing 1.70 mm, creating ~1000g sample. Sample is
then split and pulverized to 95% passing 106 microns. The
pulveriser was cleaned using a sand wash after every samples as to
avoid any potential contamination.
Core analyzed by TSL was handled at their facility in
Saskatoon, SK. Core samples were
analyzed for gold using FA/AA of 30g as well as multi-element
ICP-MS with a multi-acid digestion. Gold Assays returning greater
than 3 g/t (ppm) where analyzed using gold fire assay with
gravimetric finish. Reject pulps are saved and stored for
potential, future metallic screening or other analyses.
An independent QAQC program was conducted by inserting
duplicates, certified reference materials, and pulp blanks. This
was used to test for natural variability/sampling bias / testing
the lab for homogeneity during sample preparation processes within
the lab as well as testing the precision and any possible
contamination from the lab. Additionally, TSL labs also includes an
internal QAQC duplicate on gold analyses. Roughly ~12-13% of
samples (e.g., ~12-13 samples out of 100 samples) are external QAQC
samples.
Qualified Person
The scientific and technical information contained in this news
release has been prepared, reviewed and approved by David Tupper, P.Geo. (British Columbia), MAS Gold's VP Exploration
and Darren Slugoski, P.Geo.
(Saskatchewan and Ontario), of Axiom Exploration Group Ltd.,
each a Qualified Person (QP) within the context of Canadian
Securities Administrators' National Instrument 43-101; Standards of
Disclosure for Mineral Projects (NI 43-101).
About MAS Gold Corp.
MAS Gold Corp. is a Canadian mineral exploration company focused
on exploration projects in the prospective La Ronge Gold Belt of
Saskatchewan. In the belt, MAS Gold Corp. operates four
properties totaling 33, 843 hectares (83, 628 acres), including the
Greywacke Lake, Preview-North, Elizabeth
Lake and Henry Lake Properties extending along a total of
roughly 60 kilometres of the geologically prospective La Ronge, Kisseynew and Glennie Domains that
make up the La Ronge Gold Belt.
MAS Gold's holdings include the Greywacke North, North Lake and Point gold deposits and the
historically defined Elizabeth Lake
copper-gold volcanic-hosted massive sulphide deposit.
The Greywacke North deposit, which hosts multiple known
stratabound, high-grade gold-bearing zones, has an estimated
255,500 tonnes at 9.92 g/t Au (cut-off grade of 5 grams gold/tonne)
for 81,500 ounces of gold, plus an Inferred Mineral Resource of an
estimated 59,130 tonnes at 7.42 g/t Au for 14,100 ounces of gold
(NI 43-101 Technical Report, June 1,
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, hence 417,000
contained ounces of gold (NI 43-101 Technical Report, 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