In Canada, the Greywacke Lake project, in the La Ronge area of Saskatchewan, hosts several known high-grade gold-bearing zones along a distinctive volcano-sedimentary horizon. Of these known areas, the North Zone deposit has reached the advanced exploration stage. A total of 52 shallow diamond drill holes in the North Zone has allowed for the preparation of a NI 43-101 compliant resource estimate on the near surface portion of the deposit.
The North Zone remains open at depth and potentially along strike. Two of the more recent drill holes include both the thickest gold intersection yet (26.64m of 8.2 g/t Au), and the deepest, at over 250 m vertical depth. Other notable intersections include 23.98 g/t Au over 6.31m, 18.03 g/t Au over 5.29m, 18.92 g/t Au over 4.89m and 9.14 g/t Au over 19.84m.
Ongoing work on several of the further known zones includes stripping, trenching and diamond drilling. Four of these gold-bearing zones are clustered over one km of strike length, which suggests potential continuity of the system. More drilling will be required to delineate further resources and to upgrade inferred resources to the Measured & Indicated category.
On April 2, 2012, Masuparia Gold Corporation (TSX.V: MAS) and Golden Band Resources (TSX.V: GBN) (OTCQX: GBRIF) announced the expansion of their joint venture in the La Ronge Gold Belt of Saskatchewan. Using their existing Greywacke Joint Venture Agreement as basis for the expanded La Ronge South Gold Joint Venture (LRSG JV), a Memorandum of Understanding (MoU) was signed effective March 15, 2012 that will lead to the inclusion of the Preview Lake and North Lake properties, with participating interests being 50:50 in all three properties.
Mr. Frank Hrdy P.Geo., serves as an independent Qualified Person (QP) as defined under NI 43-101 and has reviewed and approved the scientific and technical information contained on this website.