Resource World Magazine

F E B R U A R Y / M A R C H 2 0 2 0 www.resourceworld.com 33 Zone of the Trans-Hudson Orogeny. SSR Mining's Seabee gold mine is less than 100 km east of the Greywacke property, MAS Gold's most advanced project, the Greywacke property, hosts high-grade, gold-bearing zones having a NI 43-101 compliant (at a cut-off grade of 5 g/t gold) Indicated Mineral Resource of 255,500 tonnes grading 9.92 g/t gold, plus an Inferred Mineral Resource of 59,130 tonnes grading 7.42 g/t gold. MAS Gold recently announced addi- tional positive results from preliminary metallurgical testwork completed on com- posited drill core material from the North Lake gold deposit. "Although preliminary, the flotation gold recovery test results of better than 89% for the five tested sub-samples are very encouraging," stated Netolitzky. "These test results, combined with our earlier reported, positive cyanidation recovery test results, provides MAS Gold with a number of potential options for high gold recoveries from our North Lake property. Other positives include the BWI (Ball Mill Work Index) of 12.9 kWh/tonne, which reflects a medium hardness for the tested material, and total sulphur recov- ery to flotation concentrates of better than 93%, which suggests a limited potential for acid generation from the flotation tails." Additional metallurgical testwork will be completed to further improve the understanding of suitable, high-recovery processing options for North Lake gold- mineralized material. MAS Gold considers North Lake to be a potential source of open-pittable gold- mineralized material for feeding into a centralized processing plant where it will be co-mingled with higher-grade material from one or more of its other La Ronge Gold Belt properties. Exploration for North Lake and the Preview Lake area call for: • Complete resource studies and sup- porting metallurgical test work – This will include further drilling at the North Lake deposit, Point deposit and the Joe/ Preview North targets. • The Preview SW deposit and other tar- gets within the working in conjunction with Comstock Metals Ltd. property may fit within the overall objective. • Complete baseline environmental studies to support a central mill production plat- form centred on the North Lake Preview Lake region • The anticipated timeline for the environ- mental baseline work is a minimum of one year. • Execute exploration activities on earlier stage targets within the region as required to support advancing to a Preliminary Economic Assessment within the follow- ing two years. • On the Greywacke property, execute an additional drill and metallurgical testing campaign on Greywacke North to sup- port a Preliminary Economic Assessment • The high gravity recovery reported by the bench scale and bulk sample recover- ies conducted during test mining in 2014 opens the possibility for a low-cost pro- cessing facility located on site. "I consider the La Ronge gold belt and a lot of Saskatchewan to be very perspec- tive," said Netolitzky. "The section, in which we are working with MAS Gold, is part of the Lower Proterozoic Trans- Hudsonian Orogeny, specifically domains of island arc and sedimentary basin rocks that have been folded and re-folded, faulted and highly metamorphosed. "What is most interesting, they resem- ble the kind of settings that we see in West Africa, where the Lower Proterozoic belts are considered to be very prospective for gold." He added that the area where MAS Gold's projects are located is one of the bigger Lower Proterozoic plays we have in North America, but with much less competition. "The famous Homestake gold mine, which is one of the premier gold mines of North America, is in that Trans-Hudsonian orogeny much farther south in the Black Hills of South Dakota," Netolitzky said. "So we believe it makes perfect sense to look to the north." n MINING

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