Issue link: http://resourceworld.uberflip.com/i/1239546
A P R I L / M A Y 2 0 2 0 www.resourceworld.com 49 MAS Gold releases maiden resource estimate for North Lake MAS Gold Corp. [MAS-TSXV] released a maiden mineral resource estimate for the North Lake gold deposit in the La Ronge Gold Belt, northeastern Saskatchewan. The estimate follows MAS Gold's 2019, North Lake drilling and surface channel sampling programs. At a marginal grade cut-off of 0.45 g/t gold, the North Lake gold deposit is estimated to contain an Inferred Mineral Resource of 14,110,000 tonnes grading 0.92 g/t gold for 417,000 contained ounces of gold. Ron Netolitzky, President and CEO of MAS Gold, stated, "This is a great day for MAS Gold. We have taken a large step toward accomplishing our goal of achieving one million gold ounces hosted by our La Ronge assets. Apart from our new North Lake Mineral Resources we have also declared, using a cut-off grade of 5.0 g/t gold, 255,500 tonnes at 9.92 g/t gold (81,500 oz Au) of Indicated Resources and 59,000 tonnes at 7.42 g/t gold (14,100 oz Au) of Inferred Resources at our Greywacke North deposit." "Importantly, the identified mineralization at North Lake remains open along strike and at depth. Additional explora - tion at North Lake and our other properties will continue with the objective of further expanding our mineral resources in the La Ronge Gold Belt." Netolitzky added, "The low-grade North Lake 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." The North Lake Project is a joint venture between MAS Gold and Golden Band Resources. MAS Gold's Greywacke North Project hosts Indicated Resources of 225,500 tonnes grading 9.92 g/t gold, for 81,500 in-situ ounces. Inferred Resources stand at 59,130 tonnes grading 7.42 g/t gold, for 14,100 in-situ ounces. Greywacke North features a high-grade, near surface gold deposit with near-term, underground mining production potential. In addition to the Greywacke North gold deposit, other significant gold prospects include Greywacke South and the Lyons Zone. Greywacke South is the continuation of gold mineralization along the same structure hosting the Greywacke North deposit. The Lyons Zone lies in close prox - imity to the south. n Golden Birch following up PNG Cu-Au porphyry discovery GOLDEN BIRCH RESOURCES INC. [GBRX-CSE] has provided information on its recently discovered Waki prospect located east of the Omu prospect on its 85%-optioned Keveri Project in Papua New Guinea.Exploration results yielded anomalous copper and gold, with best results to date from separate outcrops being 0.34% copper and 15.5 g/t gold and 4.9% copper and 0.05 g/t gold. Assay values from selective rock float samples in drainages associated with Waki prospect area yielded values as high as 6.8% copper and 15.45 g/t gold from separate samples. The Waki prospect has yielded anomalous copper and gold min- eralization in multiple in- situ outcrops and selective float samples over an area of approximately 1.0 km north-south by 0.8 to 1.0 km east-west. A wide-spaced, reconnaissance soil survey returned anomalous and coincident copper, gold and molybdenum values over a 400 to 600-metre north-south by 800 to 1,000-metre east-west area. The Cu-Au-Mo anomalies are coincident with an airborne magnetic "high" anomaly. Future exploration at the Waki prospect will include detailed geologic mapping to identify areas of alteration and areas of mineralization, in-fill soil sampling and more soil sampling to the southeast to cover anomalies not fully closed off. Additional rock samples will be extracted both from outcrop and float. A ground magnetic survey will be conducted to enhance the historic airborne magnetic data. Subject to the results of ground magnetic data and alteration mapping, an induced polarization survey may be warranted. The data will aid in the compilation of 3-D geophysical models to assist in drill hole targeting of suitable drill targets. n WE PROMISE AND WE DELIVER GOLD PROJECTS FOR INITIAL PUBLIC OFFERING Fayz Yacoub P. Geo. Professional Geologist Tel: (604) 831-0424 Email: fayz@ontrackexploration.com www.ontrackexploration.com MINING