Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
A maiden mineral resource for MAS Gold’s North Lake deposit in Canada’s Saskatchewan province, within the La Ronge gold belt features 14.1 million tonnes grading 0.92 g/t gold for a total of 417,000 oz.
MAS holds a total of 338 sq. km of ground within four properties in Saskatchewan’s La Ronge belt.
Based on a resource estimate from 2016, the Greywacke North deposit within these holdings features indicated resources of 225,500 tonnes at 9.92 g/t gold for a total of 81,500 oz. with further inferred resources of 59,130 tonnes grading 7.42 g/t gold totaling 14,100 oz.
Greywacke North includes both a near-surface as well as an underground component.
“The low-grade North Lake mineral resource, when combined with the high-grade deposit at Greywacke North, supports our strategic mine development plan that envisions a centralized plant processing material from North Lake, co-mingled with high-grade material from MAS Gold’s other La Ronge gold belt deposits,” Ron Netolitzky, the company’s president and CEO, said in a release.
The North Lake deposit, located within a section of the project known as ‘Preview North,’ remains open on strike and at depth; Netolitzky added that the company plans to continue with its exploration efforts to grow the resource inventory.
Additional drilling and supporting work is planned for this year for North Lake and surrounding Preview North targets to move this area towards a future preliminary economic assessment (PEA).
Exploration and metallurgical testwork is envisioned for Greywacke North as well, also to advance this deposit towards the PEA stage.
(This article first appeared in the Canadian Mining Journal)
