VANCOUVER, March 26, 2019 /CNW/ - MAS Gold Corp. ("MAS Gold" – TSX-V:MAS) is pleased to announce that it will receive $50,000 in grant funding from the Government of Saskatchewan to support its gold-focussed exploration activities in the La Ronge Greenstone Belt area of the province.
"With a focus on gold in the La Ronge belt, MAS Gold has developed a strong exploration strategy built upon great geology in the mining proactive jurisdiction of Saskatchewan." said David Tupper, VP Exploration for MAS Gold. "We are pleased to receive this grant provided through the government's Mineral Development Strategy. The Targeted Mineral Exploration Incentive program, which totalled $750,000 in 2018-2019, supports exploration companies like MAS Gold search for base and precious metals in the province and is another reason why Saskatchewan has continued to rank in the top three jurisdictions in the world for its Investment Attractiveness Index in the Fraser Institute's Survey of Mining Companies since 2014."
This funding is again available in their 2019-2020 budget and MAS Gold will apply for further grants.
Winter Drill Program Completed
MAS Gold, as operator of the La Ronge South Gold joint venture with Golden Band Resources Inc., has successfully completed this winter's core drilling programs at the Point and North Lake gold prospects located about 60 kilometers northeast of La Ronge, Saskatchewan. At the Point prospect, thirteen drill holes totalling approximately 1,947 metres were completed and at the North Lake prospect 10 holes totalling 1,541 metres were drilled. The drill programs were designed to provide confirmation of historic drill results, infill and step-out drill intercepts and core for metallurgical testing.
Initial gold assay results from three drill holes at the Point gold prospect have been reported (see MAS Gold news releases of February 21 and February 27, 2019). Additional assay results for the remaining 20 holes will be released when received from TSL Laboratories Inc. of Saskatoon, SK.
About MAS Gold Corp.
MAS Gold Corp. (formerly Masuparia Gold Corporation) is a Canadian mineral exploration company focused on exploration projects in the prospective La Ronge Greenstone Belt of Saskatchewan, Canada. In the 2018 Fraser Institute Survey of Mining Companies, Saskatchewan ranked 3rd in the world for its Investment Attractiveness Index which rates jurisdictions based on their geologic attractiveness and the effects of government policy on attitudes toward exploration investment. MAS Gold's Saskatchewan projects include the advanced-stage Greywacke deposit, which hosts high-grade gold-bearing zones with a National Instrument 43-101 compliant (at a cut-off grade of 5 grams gold/tonne) Indicated Mineral Resource of 255,500 tonnes at 9.92 grams gold/tonne plus an Inferred Mineral Resource of 59,130 tonnes at 7.42 grams gold/tonne. MAS Gold's NI 43-101 Technical Report of June 1, 2016 concerning the Greywacke gold deposit is available on SEDAR and on MAS Gold's website: http://www.masgoldcorp.com .
On Behalf of the Board of Directors of MAS Gold Corp.
Ronald K. Netolitzky
President & CEO
Caution Regarding Forward-Looking Information and Statements:
This news release includes certain forward-looking statements or information that could cause actual results to differ materially from MAS Gold's plans or expectations. These include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, cost overruns, availability of capital and financing and general economic, market or business conditions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding any updated technical report, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
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 release.
SOURCE MAS Gold Corp
For further information: MAS Gold Corp., Suite 420 - 789 West Pender Street, Vancouver, British Columbia, Canada, V6C 1H2, T: 604-685-8592, w: www.masgoldcorp.com; Lubica Keighery, VP Corporate Development, c: 778-889-5476, e. [email protected]