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TSX-V: MAS
  • Current Stock Info
  • TSX-V: MAS
  • Last: $0.07
  • Change: unch
  • Volume: 24400
  • Date: 07-21-2017 - 17:15

News

News Releases

Jun 10, 2016

Masuparia Files National Instrument 43-101 Technical Report and Resource Update on Greywacke Lake Project

NR: 16-02

Masuparia Gold Corporation (TSX.V: MAS) ("Masuparia" or the "Company") announces that further to the news releases dated April 13, 2016 and June 29, 2015, it has filed a technical report dated June 1, 2016 entitled "NI 43-101 Technical Report and Resource Update, Greywacke Lake Project, Saskatchewan, Canada" (the "Technical Report") prepared by Frank Hrdy, P. Geo., an independent Qualified Person under National Instrument 43-101, Eugene J. Puritch, P. Eng. and Mike Yakimchuk, P. Eng.

The Greywacke Lake project is comprised of 15 claims totalling 5,786 hectares and is part of the La Ronge South Gold 50/50 Joint Venture between Masuparia and Golden Band Resources Inc., Masuparia is the operator. The Property is accessed by Provincial Highway 102, which runs from La Ronge to Reindeer Lake and passes approximately 5 km northwest of the property, from which point a recently upgraded 11 km access road leads to the recently completed bulk sample open pit and camp and core storage on Greywacke Lake.

The updated resource estimate for the Greywacke North deposit is estimated to contain an Indicated Mineral Resource of 255,500 tonnes grading 9.92 g/t Au at a cut-off of 5 g/t Au over a minimum horizontal width of 2.0 metres. An additional 59,130 tonnes grading 7.42 g/t Au is classified as inferred.

The Resource Estimate for the Greywacke North Gold Deposit with a 33 g/t Au Cap Grade is:

5 g/t Au Cut-Off Tonnes (t) Grade g/t Au In-Situ Au Ounces
Indicated 255,500 9.92 81,500
Inferred 59,130 7.42 14,100

Note: This mineral resource has been estimated to conform to NI 43-101 Standards of Disclosure for Mineral Projects and was prepared by Mr. Frank Hrdy P.Geo., who also serves as an independent Qualified Person (QP) as defined under NI 43-101. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

  1. Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues. It is noted that no specific issues have been identified as yet.
  2. The quantity and grade of reported Inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred resources as an Indicated or Measured mineral resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured mineral resource category
  3. The mineral resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
  4. The 5.0 g/t AuEq resource cut-off grade was derived from the April 30/16 two year trailing average Au price of US$1,197/oz, US$/C$ exchange rate of 0.817, 90% process recovery, C$45/t process cost, C$125/t mining cost and C$35/t G&A cost.

Please refer to the Technical report, which is available under the Company’s profile at www.sedar.com or the Company’s website, for further details including Estimation Method and QA/QC and Data Verification overview.  

Frank Hrdy, P., Geo, a Geologist of CanMine Consultants, an independent consultant to the Company, is the Qualified Person as defined in NI 43-101 for this disclosure and has reviewed and approved the scientific and technical information contained in this news release.  

On Behalf of the Board of Directors of

Masuparia Gold Corporation 

Ronald K. Netolitzky
President & CEO


Caution Regarding Forward-Looking Information and Statements
This news release includes certain forward looking statements or information that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, cost overruns, availability of capital and financing, general economic, market or business conditions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the updated technical report, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company makes all reasonable efforts to update its corporate information on a timely basis.

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.