For Mas Gold its all focused towards gold production in Saskatchewan…

[Co-Publisher Note: This story was written prior to the news release that came out at market open today. To access the news release titled, MAS Gold Corp. and Comstock Metals Ltd. Sign Letter of Intent for MAS Gold to Acquire 100% of Comstock’s Preview SW Gold Project La Ronge, Saskatchewan, click here]

Canada has several gold regions including parts of the Province of Saskatchewan. The ‘La Ronge Greenstone Belt’ in north central Saskatchewan is an established gold bearing zone. Since the 1940s, exploration in the region has outlined numerous gold deposits and showings, including such past producers as the Komis, Jolu, Star Lake, Contact Lake, Roy Lloyd, Golden Heart and Jasper mines.

MAS Gold Corp. (TSXV: MAS) is a Canadian exploration company focused on exploration projects in and around the prospective La Ronge Greenstone Belt of Saskatchewan, Canada. In total MAS 100% controls 33,843 hectares of property in the region. The properties have reasonable infrastructure with proximity to roads, power lines, and other established mining operations (including mills). The longer term plan is to develop a hub and spoke production model with one mill being fed by multiple nearby mines.

MAS Gold’s four properties are: Henry Lake, Greywacke, Preview-North (includes the North Lake, Point, Contact Lake, and Preview SW gold deposits), and Elizabeth Lake.

MAS Gold’s 4 properties spread mostly along the La Ronge Gold Belt in Saskatchewan, Canada

Source: MAS Gold company presentation

Gold Resources at MAS Gold’s properties include:

  • Greywacke – The 2021 updated Resource estimate (open pit & underground) has an Indicated Resource of 101,000 contained Au oz @ 4.90 g/t, and an Inferred Resource of 55,000 contained Au oz @ 4.12 g/t.
  • Preview-North (North Lake deposit) – The 2020 Resource estimate has an Inferred Resource of 417,000 contained Au oz @ 0.92 g/t. Drill results from the 2021 drill campaign are pending with a PEA to follow. Potential for an open pit operation. There have also been some strong early drill results at other deposits on the Preview-North Property including at the Point Au deposit (7m @ 14.99 g/t from 20m).

In addition to the above, the Contact Lake Property has a history of gold production at a head grade of 6.16 g/t Au. MAS Gold plans a drill campaign at the newly acquired property in Q1, 2022.

The Preview-North (North Lake deposit) has 417,000 contained Au oz @ 0.92 g/t with potential for an open pit operation

Source: MAS Gold company presentation

MAS Gold hub & spoke plan to mine gold from their various properties and contained deposits


Source: MAS Gold company presentation

Management and investors

MAS Gold has an experienced management team that has a successful track record of exploration success as well as success in bringing gold projects into production. As a nice sign of confidence, Sprott Global are investors having acquired 15 million shares.

Next steps

With the 2021 drilling campaign complete, MAS Gold is expecting assay results by end April 2022. In Q1 2022 the Company plans to release a consolidated Resource report, then a PEA for the Preview-North (North Lake deposit) to follow by about mid-2022.

Closing remarks

MAS Gold controls a large portfolio of 33,843 hectares spread over 4 properties in and around the highly prospective La Ronge Greenstone Belt’ in north central Saskatchewan, Canada. Their two most promising properties are Greywacke with 101,000 contained Au oz @ 4.90 g/t and Preview-North (North Lake deposit) with 417,000 contained Au oz @ 0.92 g/t. Exploration upside is very exciting.

It looks like MAS Gold plans start production at one or both of the above-mentioned Indicated locations with an indicated resource and then use a hub & spoke gold production operation. Both resources have open pit potential (noting Greywacke can also go underground) which will help minimize initial capital expenditure.

MAS Gold trades on a market cap of only C$14.7 million. Investors will need some patience but drill results so far look promising with more to come by end April 2022, followed by a PEA at Preview-North (North Lake deposit). Stay tuned in 2022.

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