NORTH LAKE PROPERTY at Preview North
Recently Completed Exploration Activities & Results
2,501.5 meters were drilled in 10 holes on the North Lake property of which purpose is to expand the resources to depth.
MULTIPLE, WIDE ZONES OF NEAR SURFACE, CONTINUOUS 1 GRAM PLUS GOLD MINERALIZATION
RESOURCE ESTIMATE OF 417,000 ounces of gold*
POTENTIAL FOR ESTABLISHING OPEN PIT MINE OPERATION
MAIDEN RESOURCE ESTIMATE
Predominantly disseminated, free coarse-grained gold associated with sheeted chloritic quartz micro-veining and silicification hosted in hematite altered quartz arenite, or felsite.
Mineralization hosted in 4 or 5 higher grade, NNE trending, steep dipping panels within a larger low grade envelope roughly 800m x (90m to 150m) x 200m.
EXCELLENT METALLURGY POTENTIAL
FURTHER EXCELLENT EXPLORATION POTENTIAL
HISTORY OF PREVIOUS EXPLORATION WORK
MAS Gold's crew at the beginning of the North Lake exploration program in October 2019.
In October 2019, MAS Gold started a two week work program on its Preview - North Lake Property in the La Ronge Gold Belt in northcentral Saskatchewan.
The work program has focused on the North Lake gold deposit and included structural mapping, confirmation sampling of historical surface channel samples and drill hole survey location work.
WINTER 2019 DRILL PROGRAM
The 2019 drilling successfully fulfilled the objective of providing infill and down dip extensions of historical results
Property is located 4.2 kilometres north-northwest of the Point Prospect. Ten core holes totalling 1,505 metres were completed on the North Lake property.
The North lake drill results confirmed the presence of multiple, wide zones of near surface and continuous low-grade gold mineralization. The North Lake deposit comprises broad, moderately northwest dipping zones of sheeted hematitic quartz veinlets within a competent felsite unit. Minor pyrite and chlorite vein selvages are associated with the auriferious zones, which also exhibit fine grained visible gold. These gold zones range from five to greater than 100 meters in thickness and extend to over 700 meters in length.
HISTORIC EXPLORATION OVERVIEW
Discovered in 1984 following 1979 release of regional lake sediment geochemical results.
1986-88 Prospecting and a total of 400 m channel sampling work. 43 core drill holes completed (5,723 m total).
2003 ACA Howe completed a technical review of the property for Madison Energy Limited.
2011 Golden Band Resoureces undertook a initial evaluation of the property, that included geology, prospecting, geochemical and channel sampling.
1988 historic resource (Reedman & Assoc. Ltd of Winnipeg) established the North Lake deposit on behalf of Radcliffe Resources, which published a “geological reserve” estimate, using a cut-off of 0.04 ounce per ton gold (1.3 grams per tonne) over three metres, of 2.6 million tons at 0.069 ounce per ton gold (2.36 million tonnes at 2.4 g/t) for a total of 180,000 contained ounces of gold (Radcliffe news release, March 6, 1989).
The above North Lake resource estimation precedes 43-101 and is repeated for historical reference only and is not to be relied upon. The summary review on this project however is 43-101 compliant.
A Qualified Person has not completed sufficient work to verify these resource estimates or to classify the resource estimates as current mineral resources and the issuer is not treating the historic resource estimates as current mineral resources. These estimates are unclassified and do not use the categories ("inferred", "indicated" or "measured" mineral resource, or "probable" or "proven" mineral reserve) set out in Sections 1.2 and 1.3 of NI 43-101 as defined by the Canadian Institute of Mining, Metallurgy and Petroleum. These resource estimates are only relevant to obtain a reference to gold mineralization potential present on the property. Additional drilling would need to be completed in order to upgrade and verify mineral resource estimates.