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|
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.
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.