MAS Gold Corp. has entered into an agreement with the Government of Saskatchewan to acquire a 100% interest in approximately 463 ha., including the former producing Contact Lake Gold Mine operated from 1994 to 1997 by Cameco Corporation in the highly prospective La Ronge Greenstone Belt of Saskatchewan.
Jim Engdahl, CEO, comments:
“We are very pleased to be able to announce this acquisition and wish to thank the Saskatchewan Government for working so diligently with us to complete it.
“We are very excited to begin working with the voluminal and detailed historical data MAS has available to identify both new resources and the areas that are reported as not mined. We believe the opportunities to be tremendous given the underground infrastructure in place and the significant amount of data we have available to begin developing a new model that will guide a new round of exploration drilling on this brownfields site.
“The Contact Lake mine site is located within 10 km of MAS Gold’s North Lake Deposit and is an important new addition in our “hub and spoke” mining concept.”
The agreement was made pursuant to the Saskatchewan Reclaimed Industrial Sites Act (RISA). The Contact Lake Property is located approximately 57 km north of the town of La Ronge on Provincial Highway 102 and 6 km east of the highway. Upon completion of the transaction, MAS Gold will hold mineral rights to roughly 34 306 ha. (84 771 acres) spread along the full trend of the La Ronge Gold Belt.
Read the article online at: https://www.globalminingreview.com/mining/16092021/mas-gold-acquires-la-ronge-greenstone-belt-gold-mine/