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.
MAS Gold (TSXV: MAS) has updated the resource estimate for its North Lake gold deposit in the La Ronge Gold Belt of northeastern Saskatchewan, increasing the tonnage by 28.3% and in situ gold resources by 18.5%.
Using a cutoff of 0.4 g/t gold, the deposit is now estimated to contain 18.1 million inferred tonnes averaging 0.85 g/t gold for 494,000 contained oz. of gold. A 2020 estimate contained 14.1 million inferred tonnes at 0.92 g/t gold for 417,000 contained oz. of gold.
“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,” said CEO Jim Engdahl.
A 43-101 technical report covering both North Lake and Greywacke North will be issued within 45 days.
(This article first appeared in the Canadian Mining Journal)
