SASKATOON, SK, March 8,
2022 /CNW/ - MAS Gold Corp. ("MAS Gold") (TSX.V: MAS)
has completed drilling at the North Lake Deposit on its 100% owned
Preview North Property in the La Ronge Gold Belt, Saskatchewan (Figure 1). A total of
4,123.5 metres were completed over 34 diamond drill holes (DDH)
(Figure 2). Samples are currently being processed and delivered to
SRC Laboratories in Saskatoon
Saskatchewan.
The drill program was successful in completing 24 infill drill
holes, four twin drill holes and six exploration drill holes (Table
1). A total of 3,759 samples were sent for assay with 3,256
being core samples and 503 additional samples reserved for Quality
Assurance and Quality Control (QAQC). A robust QAQC program
was implemented at the start of the drill program at the North Lake
Deposit which resulted in 13% percent of the samples sent to SRC
were dedicated to QAQC. All drill holes were successful in
intersecting the felsite unit (also mapped as Arkose) which is
known to host previously intersected mineralization hosted in broad
zones of sheeted quartz veins. DDH NL22-081 and NL22-083 were
successful in extending the felsite by 80 metres to the northeast
and DDH NL22-101 was successful in extending felsite by 50 meters
to the southwest (Figure 2).
"In addition to implementing an aggressive QAQC program the
MAS geological team was able to successfully extend the felsite
host by 80 metres to the northwest and 50 metres to the
southwest," reported Jim
Engdahl, CEO of MAS Gold Corp. He continued, "We
are excited to initiate our next phase of drilling on the Point
Deposit and the Preview SW Deposit."
The on-going drilling is expected to continue throughout the
month of March as the next phase of the program transitions to the
Point Deposit and the Preview SW Deposit. One drill rig is
currently operating at the Point Deposit on MAS Gold's
Preview-North property and has completed three holes (RM22-057 through RM22-059) for a total of 584 metres with one
drill hole in progress (RM22-060)
(Figure 3).
Point Deposit (MAS Gold Corp.)
The 800-metre (m) drill program is currently ongoing at the
Point Deposit is designed to:
- Test three high-priority targets identified during 2019
drilling program.
- Test high priority anomaly identified in the 2021 summer field
program.
- Extend mineralization to the south with strategically planned
drill holes.
Preview SW Property (Comstock Metals Ltd.)
The drill program at the Preview SW Property is now anticipated
to complete a 1,400 metre program which will include expenditures
from Comstock. The program is designed to further define the
historical resource at the Preview SW Deposit and extend
mineralization at the North Zone.
Table 1: North Lake Collar Summary
North Lake Drilling
Summary
|
Hole
ID
|
Azimuth
|
Dip
|
EOH
|
NL22-073
|
110
|
-60
|
238.5
|
NL22-074
|
110
|
-60
|
127
|
NL22-075
|
110
|
-60
|
134
|
NL22-076
|
110
|
-60
|
173
|
NL22-077
|
110
|
-60
|
167
|
NL22-078
|
110
|
-55
|
263
|
NL22-079
|
110
|
-60
|
140
|
NL22-080
|
110
|
-65
|
140
|
NL22-081
|
110
|
-45
|
167
|
NL22-082
|
110
|
-45
|
80
|
NL22-083
|
110
|
-45
|
83
|
NL22-084
|
110
|
-45
|
107
|
NL22-085
|
110
|
-60
|
180
|
NL22-086
|
110
|
-45
|
107
|
NL22-087
|
110
|
-45
|
113
|
NL22-088
|
110
|
-60
|
233
|
NL22-089
|
110
|
-45
|
35
|
NL22-090
|
110
|
-45
|
41
|
NL22-091
|
110
|
-45
|
44
|
NL22-092
|
110
|
-45
|
53
|
NL22-093
|
110
|
-45
|
47
|
NL22-094
|
110
|
-45
|
94
|
NL22-095
|
110
|
-55
|
101
|
NL22-096
|
110
|
-60
|
239
|
NL22-097
|
110
|
-45
|
56
|
NL22-098
|
110
|
-45
|
44
|
NL22-099
|
110
|
-65
|
110
|
NL22-100
|
110
|
-55
|
110
|
NL22-101
|
110
|
-60
|
221
|
NL22-102
|
110
|
-45
|
53
|
NL22-103
|
110
|
-65
|
137
|
NL22-104
|
110
|
-60
|
94
|
NL22-105
|
110
|
-45
|
106
|
NL22-106
|
110
|
-45
|
86
|
TOTAL HOLES
DRILLED
|
TOTAL METRES
DRILLED
|
34
|
4,123.5
|
Sample Quality Assurance / Quality Control
MAS Gold is working with its principal geological exploration
consultant, Axiom Exploration of Saskatoon, Saskatchewan, who has designed and
executed a vigorous quality control / quality assurance program for
its 2022 winter drill program.
Sample intervals were laid out with the objective of capturing
homogenous lithology without crossing any significant alterations
within the sample guideline of a minimum sample size of
0.50m, and a maximum sample size of
2.0m. All drill core samples
were 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
minimizing and potential biases in the assay results. Core
duplicates were generated by quarter sampling core.
MAS Gold utilized SRC laboratories in Saskatoon for core assay analysis. All
rock sample preparation conducted by SRC at their preparation
facility in Saskatoon, SK.
Rock samples were dried, crushed to 70% passing 1.70 mm.
250 gram samples were then riffle split and pulverized to 95%
passing 106 microns. The pulveriser was cleaned using a
silica sand wash after every samples as to avoid any potential
cross sample contamination.
Core analyzed by SRC 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 were saved and stored for
potential, future metallic screening or other analyses.
An independent QAQC program was conducted by inserting pulp
sample duplicates, certified reference materials, coarse 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, SRC labs also
included an internal QAQC duplicate on gold analyses.
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., and
Kristopher J. Raffle, P.Geo.(British
Columbia) Principal and Consultant of APEX Geoscience Ltd.
of Edmonton, AB, each a Qualified
Person within the context of Canadian Securities Administrators'
National Instrument 43-101; Standards of Disclosure for Mineral
Projects (NI 43-101).
About MAS Gold:
MAS Gold Corp. is a Canadian mineral exploration company focused
on gold exploration projects in the prospective La Ronge Gold Belt
of Saskatchewan. MAS Gold operates four prospective
La Ronge, Kisseynew and Glennie
Domains that make up the La Ronge Gold Belt.
MAS Gold's current projects include the North Lake, Greywacke North, Bakos (Contact
Lake) and Point gold deposits and the historically defined
Elizabeth Lake copper-gold
volcanic-hosted massive sulphide deposit within four properties
totalling 34,703.4 hectares (85,753.8 acres).
The North Lake deposit located
at the Preview-North Property is estimated to contain an Inferred
Mineral Resource of 18,100,000 t grading 0.85 g/t Au, hence 494,000
contained ounces of gold (Godden, S, Thomas, D. Tupper, Technical
Report on the Mineral Resource Updates, North Lake and Greywacke North Gold Projects,
La Ronge Gold Belt, Saskatchewan,
Canada.; effective date December 1,
2021). The Technical Report about the updated Mineral
Resource estimate was filed on SEDAR January, 12, 2022.
The Greywacke North deposit, which hosts multiple known
stratabound, high-grade gold-bearing zones, has an updated,
combined open pit and underground Indicated Mineral Resource of
645,000 t averaging 4.90 g/t Au for 101,000 insitu ounces of gold
(600,000 t at 4.89 g/t Au, and 45,000t at 5.03 g/t Au,
respectively), plus a combined open pit and underground Inferred
Mineral Resource of 410,000 t averaging 4.12 g/t Au for 55,000
insitu ounces of gold (35,000 t at 1.97 g/t Au, and 375,000 t at
4.33 g/t Au, respectively). The Indicated and Inferred
Mineral Resources were estimated using open pit and underground
cut-off grades of 0.65 g/t Au and 1.75 g/t Au, respectively
(Godden, S, Thomas, D. Tupper, D. Technical Report on the Mineral
Resource Updates, North Lake and
Greywacke North Gold Projects, La Ronge Gold Belt, Saskatchewan, Canada.; Effective Date
December 1, 2021). The
Technical Report about the updated Mineral Resource estimate was
filed on SEDAR January 12, 2022.
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