MAS Gold Corp (TSX-V:MAS, OTCQB:MSGCF) has announced a Mineral Resource Estimate (MRE) for its Preview Adit gold deposit which it says has added a further 29,000 ounces of gold to its inventory.
At a marginal grade cut-off of 0.40 grams per tonne (g/t) gold (Au), the company said the Preview SW Adit gold deposit is appraised to contain an Inferred Mineral Resource of 339,000 t grading 2.66 g/t Au for a contained 29,000 oz of gold.
The Preview Adit deposit lies 2.6 kilometres (km) north of the Preview SW gold deposit but within the Preview Southwest project in northeastern Saskatchewan’s La Ronge Gold Belt.
READ: MAS Gold unveils new resource estimate adding another 100,000 ounces to Preview Southwest gold project in Saskatchewan
MAS Gold said the initial 29,000 ounces of gold MRE for the Preview Adit gold deposit in combination with the new resource update of 106,900 oz of gold in the Preview SW deposit adds 135,900 ounces of gold to its inventory.
The company noted that the Preview SW deposit hosts Indicated Mineral Resources containing 273,000 ounces of gold (5.457 million tonnes grading 1.56 g/t Au) and Inferred Mineral Resources containing 263,000 ounces of gold (5.852 million tonnes grading 1.40 g/t Au) based on a 0.40 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,” MAS Gold chief geologist Darren Slugoski said in a statement.
"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,” he continued. “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, MAS Gold's CEO and director added: "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 oz gold. Additional proximal and prospective zones remain open at depth and along strike and have only been drilled to a maximum of 300m in depth.”
The company said 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 oz gold.
In addition to the Preview Adit Zone Mineral Resource Estimate, MAS Gold said it is completing resource calculations on the Point Gold deposit and the Contact Lake gold deposit. Once these resource calculations are complete, the company said it is optimistic it will reach the goal of defining 1.5 million ounces of contained gold.
The company said the Preview Adit Zone is an important addition to its Hub and Spoke model due to its proximity to the proposed hub and shallow resource where mineralization reaches a shallow 13 metres below surface.
Scoping study update
MAS Gold said the scoping study that was announced in October 2022 is on track to be completed in the second quarter of 2023. A slight delay in resource calculations occurred to allow for the incorporation of the Preview Adit gold deposit into the Hub and Spoke model, it added.
MAS Gold is a Canadian mineral exploration company focused on advancing its gold exploration projects in the prospective La Ronge Gold Belt of Saskatchewan.
The company is active on four properties in the Belt, including the Preview-North, Greywacke Lake, Elizabeth Lake and Henry Lake Properties totalling 35,175.6 hectares (86,920.8 acres). These properties extend along the geologically prospective La Ronge, Kisseynew and Glennie Domains that make up the La Ronge Gold Belt in north-central Saskatchewan.
Contact the author at stephen.gunnion@proactiveinvestors.com