MAS Gold Corp (TSX-V:MAS, OTCQB:MSGCF) has announced an updated Mineral Resource estimate for the North Lake gold deposit, located on the La Ronge Gold Belt of northeastern Saskatchewan.
At a marginal grade cut-off of 0.40 grams per tonne (g/t) gold (Au), the North Lake gold deposit is estimated to contain an Inferred Mineral Resource of 18,100,000 tonnes grading 0.85 g/t Au, hence 494,000 contained ounces (oz) of gold, the company said in a statement.
Compared with the 2020 estimate, MAS Gold said the 2021 update increased the estimated tonnes by 28.3% and the amount of gold by 18.5%, despite a modest (7.6%) drop in the average estimated grade. The 2020 estimate totaled 14,110,000 tonnes at 0.92 g/t Au for 417,000 oz Au, in the Inferred category.
READ: MAS Gold moving towards 1M gold ounce goal in Saskatchewan with updated Greywacke North resource
"With this expanded North Lake Mineral Resource estimate we have continued to grow our La Ronge asset base,” said MAS Gold CEO Jim Engdahl.
“Combining the updated North Lake Mineral Resource estimate with our updated Greywacke North Mineral Resource announced by MAS Gold on December 6, 2021, pushes us closer towards our goal of a million insitu ounces of gold."
Engdahl added: "The low-grade North Lake Mineral Resource, when combined with the high- grade deposit at Greywacke North, supports our strategic mine development plan that envisions a centralized plant processing material from North Lake, co-mingled with high-grade material from MAS Gold's other La Ronge Gold Belt deposits."
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