MAS Gold has entered into an agreement with the Government of Saskatchewan to acquire a 100% interest in approximately 463 hectares, including the former producing Contact Lake Gold Mine operated from 1994 to 1997 by Cameco Corporation in the highly prospective La Ronge Greenstone Belt of Saskatchewan.
In January 1999, after the termination operations, Cameco Corporation undertook a full internal review (or audit) of the “…start up, operation, overall finances and decommissioning of the Contact Lake mine” (1999; Leniuk, G., B. Bharadwaj, G. Alderman & R. Wyka: Cameco Corporation Contact Lake Operation, Final Report, January, 1999). The Final Report provides complete historical production and recovery values for the entire operation, plus results from the processing of “waste materials” from the final clean-up of both the mill and mine operations (the latter sent to G.D. Resources in Sparks, Nevada; see Table 1).
* The reader is cautioned that the referenced “historical production” estimates are considered historical in nature and as such are based on prior data and reports prepared by the previous property owner. There can be no assurance that any of the historical data, in whole or in part, is accurate. A qualified person has not done sufficient work to verify these historical data and no resources estimates, historical or otherwise are implied or provided. Significant data compilation, re-drilling, re-sampling and data verification are required by a qualified person on the Contact Lake Property to define a current resource.