MAS Gold estimates gold resources at Preview Adit, Saskatchewan
MAS Gold Corp. [MAS-TSXV; MSGCF-OTCQB; 63G-FSE] reported a mineral resource estimate (MRE) for the Preview Adit gold deposit located 2.6 km north of the Preview SW gold deposit but within the Preview SW project, all located within the La Ronge gold belt of northeastern Saskatchewan.
At a marginal grade cut-off of 0.4 g/t gold, the Preview SW Adit gold deposit is appraised to contain an inferred mineral resource of 339,000 tonnes grading 2.66 g/t gold for a contained 29,000 ounces of gold. David Thomas, PGeo, of DKT Geosolutions Inc., is the qualified person for the Preview Adit mineral resource estimate that has an effective date of October 31, 2022.
This initial 29,000 ounces of gold MRE for the Preview Adit Gold Deposit in combination with the new resource update of 106,900 ounces of gold in the Preview SW deposit press released on March 6, 2023, adds an additional 135,900 ounces of gold to MAS Gold’s inventory.
The Preview Adit gold deposit is located approximately 2.6 km northeast of the Preview SW deposit. The Preview SW deposit hosts indicated mineral resources containing 273,000 ounces of gold (5,457,000,000 tonnes grading 1.56 g/t Au) and inferred mineral resources containing 263,000 ounces of gold (5,852,000,000 tonnes grading 1.4 g/t Au) based on a 0.4 g/t Au marginal cut-off grade.
“This new Preview Adit gold deposit resource demonstrates the strong potential of discovering additional gold pods along the Preview trend,” stated Darren Slugoski, chief geologist. “This result is a great addition to contribute to the existing spokes that are currently being developed in MAS Gold’s hub and spoke model. There is limited drilling between the Preview SW deposit and the Preview Adit deposit. Further work, interpretation and exploration could potentially delineate additional mineral resources.”
Jim Engdahl, CEO and director, stated: “This additional mineral resource in the Preview Adit gold deposit demonstrates the potential to discover similar style deposits along this highly prospective trend and develop these potential deposits into new spokes on the Preview SW project and grows MAS Gold’s total present inventory to approximately 1.2 million ounces gold. Additional proximal and prospective zones remain open at depth and along strike and have only been drilled to a maximum of 300 m in depth.”
Additional positive milestones are expected to be completed over the course of the 2023 spring and summer exploration and development season on the company’s La Ronge gold belt assets.
They include scoping studies on the various Northern Saskatchewan LaRonge gold belt assets and expected to be completed by end of the second quarter of 2023 and additional new resource calculations on the company’s Contact Lake and Point deposits. These additional resource calculations are expected to help attain the company’s goal of defining a gold mineral resource target of approximately 1.5 million ounces gold.
In addition to the Preview Adit zone mineral resource estimate, MAS Gold is completing resource calculations on the Point gold deposit and the Contact Lake gold deposit. Once these resource calculations are complete, MAS Gold is optimistic it will reach the goal of defining 1.5 million ounces of contained gold. The Preview Adit zone is an important addition to the hub and spoke model due to its proximity to the proposed hub and shallow resource where mineralization reaches a shallow 13 metres below surface.
MAS Gold currently has six advanced deposits including the North Lake, Greywacke North, Preview SW, Preview Adit, Contact Lake and Point gold deposits.