MAS Gold Corp. Announces Commencement of Drilling on La Ronge Gold Belt Properties
Vancouver, Feb 9, 2021 - MAS Gold Corp. ("MAS") (TSXV:MAS) is pleased to announce that the 2021 Greywacke Lake drilling program commenced on schedule, with the first core drill hole collaring on January 28th and a second drill beginning February 5th. Drilling is currently focused on infill and step outs holes at the known Greywacke North deposit. To date MAS has completed five drill holes, with the first core samples in transport to TSL Labs Inc. in Saskatoon for assaying. Mr. David Tupper, Vice President of Exploration for MAS states "Dilling is progressing very well and we are pleased with the rapid execution exhibited by our principal project contractor Axiom Exploration and drill contractor ITL Diamond Drilling Ltd." Mr. Tupper continues "We are excited with what we are seeing so far and are expecting initial results back from the assay lab in early March."
Site preparations are continuing on the Greywacke Lake property to allow moving the second drill to begin drilling by week's end at the Lyons Zone, roughly 600 metres along strike to the southwest from the Greywacke North deposit area. In addition, site preparations have begun at the Preview North Property in anticipation of planned drill programs later in March at the North Lake deposit and Point deposit areas.
Qualified Person (QP)
The scientific and technical information contained in this news release has been prepared, reviewed, verified and approved by David Tupper, P.Geo. (British Columbia), Southern Empire's VP Exploration and a Qualified Person within the context of Canadian Securities Administrators' National Instrument 43-101; Standards of Disclosure for Mineral Projects.
About MAS Gold Corp.
MAS Gold Corp. is a Canadian mineral exploration company focused on exploration projects in the prospective La Ronge Greenstone Belt of Saskatchewan.
In the belt, MAS Gold Corp. operates the Greywacke and Preview North Properties that include North Lake and Point advanced gold projects, each hosting drill-intercepted zones of gold mineralization.
With addition of the Elizabeth Lake VMS deposit and Henry Lake , MAS controls four properties totaling 45, 660 hectares (105, 414 acres) along geologically prospective sections of La Ronge, Kisseynew and Glennie Domains of the La Ronge Gold Belt.
The Greywacke North deposit, which hosts several known stratabound, high-grade gold-bearing zones, has 255,500 tonnes at 9.92 g/t Au (cut-off grade of 5 grams gold/tonne) plus an Inferred Mineral Resource of 59,130 tonnes at 7.42 g/t Au (NI 43-101 Technical Report, June 1, 2016).
The North Lake deposit located at Preview North Property is estimated to contain an Inferred Mineral Resource of 14,110,000 t grading 0.92 g/t Au, hence 417,000 contained ounces of gold (NR March 25, 2020)
Jim Engdahl
President & CEO
For further information about MAS Gold please visit both www.masgoldcorp.com or contact: Lubica Keighery, (778) 889-5476, lubica@masgoldcorp.com
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.