MAS Gold Corp (TSX-V:MAS, OTCQB:MSGCF) revealed an updated Mineral Resource Estimate for the Preview Southwest gold deposit located in the La Ronge Gold Belt of northeastern Saskatchewan, which it said validates the “great value” of the property.
The 2023 update increased the total resource by 106,900 ounces (oz) gold, according to a statement from the company.
Preview SW is now estimated to contain an Indicated Resource of 5.46 million tons at a grade of 1.56 grams per tonne (g/t) gold (Au), for 273,000 oz of gold, and an Inferred Resource of 5.85 million tons grading 1.40 g/t Au for 263,000 oz of gold at a marginal grade cut-off of 0.40 grams per tonne gold.
The 2016 estimate totalled 5.7 million tons at 1.48 g/t Au for 270,800 oz Au, in the Inferred category and 2.60 Mt at 1.89 g/t Au for 158,300 oz Au in the Indicated category.
In a statement, the company said that the upgrade in the classification of the resource is an “important outcome” of the 2017, 2018 and 2022 drilling programs that resulted from tighter drill spacing, strategic testing of both down dip continuity and the northeast strike extent of the deposit, and twinning of historical drill holes.
"This result shows that the Preview SW Deposit was a key acquisition with great value and will greatly contribute to creating a potentially economically viable Hub and Spoke Model,” MAS’s CEO Jim Engdahl said.
Darren Slugoski, chief geologist of MAS Gold added: "The increase in Mineral Resources has transitioned the Preview SW Deposit into MAS Gold's largest gold Mineral Resource. The potential overall value of the Mineral Resource is enhanced by its close proximity to the proposed hub at the North Lake Deposit."
MAS Gold is a Canadian mineral exploration company focused on advancing its gold exploration projects in the prospective La Ronge Gold Belt of Saskatchewan.
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