SASKATOON, SK, March 7, 2023 /CNW/ – MAS Gold Corp. (“MAS Gold” or the “Company”) (TSX.V: MAS) (OTCQB: MSGCF) (FSE: 63G) announces podcast interview with The Stock Day Podcast.
CEO of the Company, Jim Engdahl, joined Stock Day host Everett Jolly. Jolly began the interview by asking about the Company’s background and current projects. Engdahl elaborated on how the Company acquired its numerous gold assets, which have grown to include the North Lake, Preview SW, Greywacke North, Contact Lake and Point gold deposits and the historically defined Elizabeth Lake copper-gold deposit. “The idea that Ron Netolitzky had when he formed the company in 2010 was to consolidate a string of properties located in Saskatchewan and create a whole new gold play,” said Engdahl.
Jolly then asked about the history of gold resources in the La Ronge Gold Belt of Saskatchewan. “The only producing gold mine in Saskatchewan right now is the Seabee Gold Mine, which went into production in 1992 and is now being operated by SSR,” explained Engdahl. “It has now mined out about 2 million ounces of gold and is producing at a rate of 120,000 ounces per year,” he said. “That mine is about 40 kilometers from our closest property called Greywacke North, which has 155,000 ounces that we have drilled alone.”
“What was MAS Gold Corp.’s original strategy?”, asked Jolly. “It was our original strategy to consolidate properties along the La Ronge Gold Belt of Saskatchewan,” said Engdahl. “Before I joined in January of 2021, the company had about 400,000 ounces; by the end of March we hope to be able to say that we will have at least 1.3 million ounces to 1.4 million ounces when our new resource calculations are completed,” he continued. “However, the exciting part about the belt is that none of these properties have been drilled past 300 meters.”
The conversation then turned to the Company’s strategy and revenues as they continue to develop their gold assets. “There are no revenues at the moment, we are still in the planning stages,” said Engdahl, adding that over the next 6 to 12 months the Company will continue to gather economic data for their resources to determine their next steps. “Our Greywacke property could be put into production on a small scale because of the excellent metallurgy we have for that location,” added Engdahl.
“We have another property in the area that is still a target for acquisition and it is a past-producing mine,” shared Engdahl. “This acquisition would establish complete ownership of the belt and would be an exceptional long-term gold play with the potential to be one of the best in Canada as that further develops.”
“What do you expect to see over the next 6 to 12 months?”, asked Jolly. “We are going to be doing some serious planning, while also looking for potential partners to help us take it to the next level as there will be a reasonable amount of capital required to do that,” said Engdahl, adding that the Company will continue to strategize and gather data from their assets.
To close the interview, Engdahl encouraged listeners and shareholders to keep up-to-date on the Company’s current and upcoming projects as they continue to grow and advance their gold assets along the La Ronge Gold Belt in Saskatchewan.
About MAS Gold Corp.
MAS Gold Corp. is a Canadian mineral exploration company focused on advancing its gold exploration projects in the prospective La Ronge Gold Belt of Saskatchewan. MAS Gold is active on four properties in the Belt, including the Preview-North, Greywacke Lake, Elizabeth Lakeand 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.
MAS Gold currently has five advanced deposits including the North Lake, Greywacke North, Preview SW, Contact Lake and Point gold deposits.
The North Lake Deposit hosts an Indicated Mineral Resource of 13.8 Mt averaging 0.88 g/t Au for 389,000 insitu ounces of gold, plus an Inferred Mineral Resource of 3.6 M t averaging 0.82 g/t Au for 95,000 insitu ounces of gold. (Fourie, L. Technical Report on the Mineral Resource Update for the North Lake Gold Project, La Ronge Gold Belt, Saskatchewan, Canada.; effective date January 6, 2023). The Technical Report about the updated North Lake Mineral Resource Estimate was filed on SEDAR February 17, 2023.
The Greywacke North Deposit has a 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 regarding the updated Mineral Resource Estimate was filed on SEDAR January 12, 2022.
MAS Gold Corp.
Chief Executive Officer & Director
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