North Lake Deposit
- Located approximately 70 km north-east of La Ronge with Highway 102 providing direct access to the deposit
- Located on disposition CBS 7396 (534 Ha)
- Powerlines adjacent to property
- Community of Missinipi is located approximately 10 km to the North of the deposit
- This deposit has been covered with modern VTEM, mag and Lidar surveys
- The North Lake Deposit is the Hub of Mas Gold's Hub & Spoke model and hosts 389,000 oz Au Indicated and 95,000 oz Au Inferred
- Recently upgraded the M.R.E. for the North Lake Deposit with the results for the 2022 winter drilling program
Deposit Information
- Discovered in 1984 following 1979 release of regional lake sediment geochemical results.
- 1986-88 Prospecting and a total of 400 m channel samples taken. 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 Resources undertook an initial evaluation of the property, that included a geological and geochemical review, prospecting and channel sampling.
- 2020 Mas Gold Corp. obtained 100% ownership from Golden Band Resources
- NI-43-101 Resource estimate updated in 2023 was able to upgrade 79% of the estimated tonnes and 81% of the in-situ gold to the indicated category as well as increase the average estimated grade by 2.4% (Louis F. Fourie, et al., 2023)
- Indicated: 13.8 MT @ 0.88 g/t Au equating to 389,000 (oz)
- Inferred: 3.6 MT @ 0.82 g/t Au equating to 95,000 (oz)
- Estimate based on 110 drill holes & 753 channel samples with a cut-off grade of 0.40 g/t Au
- Open at depth and with the extension downdip (west-southwest) this allowed for a larger pit envelope, hence additional tonnes
- Long-term gold price of US $1,600 / oz was used with a metallurgical recovery of 88% using gravity or cyanide recovery methods. (Louis F. Fourie, et al., 2023)
The January 2023 North Lake Mineral Resource Estimate (capped, undiluted and pit constrained, complied by QP Thomas and with an effective date of October 01, 2022)
Deposit Highlights
- 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.
- Outcrops at surface, Average strike of 201° with a dip of 51° to the NW
- Mineralization tentatively correlated over 1,000 m along strike
- NL21-054 returned an intersection of 1.249 gram gold/tonne (g Au/t) over 117.20 metres beginning at a depth of 88.0m including a 1.0 metre interval that averaged 24.140g Au/t between 176.0m-177.0m. With the assay values capped at 10g Au/t, the same 117.2m interval averages 1.129 g Au/t. (Mas Gold Corp, 2021).
- Recent Drilling indicates the deposit continues at depth.
Geological Setting
Multiple, wide zones of near surface, continuous 1 gram plus gold mineralization.
NI 43-101 Technical Report and Resource Update, Greywacke Lake Project, Saskatchewan, Canada; June 1, 2016: Hrdy, Puritch & Yakimchuk
Further excellent expansion potential currently investigated; 2021 drilling continues too produce wide zones of gold mineralization.
Potential for establishing open pit mine operation.
Property Scale Geology
- Underlain by supracrustal rocks of the McLennan Lake and McClean Lake lithotectonic domains at the southwest end of the Mullock Lake Assemblage.
- The North Lake Deposit is hosted in an aphanitic quartz & feldspar-rich lithology known as the ‘Felsite’ which hosts the gold bearing quartz veins. The protolith is enigmatic and has been strongly debated by regional experts (Godden et al., 2020).
- Distinctly pink in colour; the Felsite hosts the highest density of quartz veins which occur in three distinct populations: 1. foliation-parallel sheeted quartz veins, 2. sheeted quartz veins 15° oblique to foliation 3. High-angle quartz tension vein arrays relative to foliation (Godden et al., 2020).
- Gold mineralization correlates with increased quartz vein densities and associated alteration; which, includes pervasive hematite, vein halo biotite and vein associated patchy bleaching (Godden et al., 2020).
- Interlayered metavolcanics of the Central Metavolcanic Belt (CVB) (La Ronge Domain) and metasedimentary MacLean Lake Gneiss forms the footwall sequence.
Exploration Activities & Results
Mineralization
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.
Completed Work (MAS)
- May 13th. 2019 Mas Gold Corp gains full control of North Lake Property
- 2019: Infill Drill Program, channel sample and structural mapping programs completed on North Lake Deposit
- 2020: Technical Report completed on North Lake deposit, with an updated resource estimate
- 2021: Extensive Drill programs conducted over Winter and Summer in order to update resource to the current estimate. VTEM, Mag and Lidar surveys were conducted over North Lake deposit
- 2022: Extensive winter drill conducted to infill historic holes and explore the possibility of extension of deposit along strike. Channel Sample program conducted in June consisting of aggressive step outs along strike
- 2023: Upgraded the resource using the 2022 drill program results
Future Work / Plans
- Explore expanding deposit at depth with future drill programs
- Completing the Scoping Study on the North Lake Deposit by mid to late spring of 2023
Ownership Overview
Historic Exploration
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).
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.
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.
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.
Recent Drill Programs
MAS Gold Corp has been successful In executing our goal of upgrading the resource at the North Lake Deposit through our recent drill programs:
2019: drilling successfully fulfilled the objective of providing infill and down dip extensions of historical results
2021: Drilling was successful in extending mineralization along strike and at depth throughout the deposit
2022: Drilling was successful in upgrading the M.R.E. through twinning of historic drill holes to confirm grades with robust QAQC protocols in place and strategic infill between existing drill holes
