The company is offering flow-through units priced at $0.07 per unit, with each unit consisting of 1 share and one-half a warrant, with each full warrant exercisable at $0.10 for 24 months. The company is also offering regular units priced at $0.06 per unit, with each unit consisting of 1 share and 1 warrant, with each warrant exercisable at $0.10 for 24 months.
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Video Transcript:
I’m Megan Edwards for Investmentpitch Media
MAS Gold Corp., a Canadian mineral exploration company, has announced two non-brokered private placements for gross proceeds of up to $2 million.
The company is offering flow-through units priced at $0.07 per unit, with each unit consisting of 1 share and one-half a warrant, with each full warrant exercisable at $0.10 for 24 months.
The company is also offering regular units priced at $0.06 per unit, with each unit consisting of 1 share and 1 warrant, with each warrant exercisable at $0.10 for 24 months.
The shares are currently trading at $0.055.
The net proceeds will be used on the company’s projects and for general working capital.
MAS Gold is focused on the underdeveloped, highly prospective La Ronge greenstone belt in Saskatchewan, where it has assembled a large land package with multiple high-quality assets extending along 130 kilometers of La Ronge Gold Belt.
In the belt, MAS Gold operates the Greywacke, North Lake and Point advanced gold projects, each hosting drill-intercepted zones of gold mineralization.
The initial target of the company is to establish over a million ounce, economically viable resource by combining ounces from its portfolio properties.
MAS Gold is currently entering a more intensive phase of work directed towards establishing the resource base for its "hub and spoke" mining model for its Preview-North and Greywacke projects.
The company will be drilling on the Greywacke property to upgrade the resource classifications and extending the resource to depth at Greywacke North, and exploration on the Lyons and Greywacke south zones
The advanced-stage Greywacke Property currently hosts high-grade, gold-bearing zones having a National Instrument 43-101 compliant Indicated Mineral Resource of 225,500 tonnes grading 9.92 grams per tonne gold plus an Inferred Mineral Resource of 59,130 tonnes grading 7.42 grams per tonne gold, with a cut-off grade of 5 grams gold per tonne
Drilling on the North Lake property is planned in order to upgrade the resource classification and test the resource extension to depth and to north.
The North Lake property has a current inferred resource of 417,000 ounces of gold.
Further definition drilling and surface geological mapping on the Point deposit and Joe prospect on the Preview North Property is also planned.
MAS Gold is headed by CEO Ron Netolitzky, a Canadian Mining Hall of Fame inductee and PDAC Prospector of the year.
For more information, please visit the company’s website at www.MASgoldcorp.com, contact Lubica Keighery, VP Corporate Development, at 778-889-5476 or by email at lubica@MASgoldcorp.com.
I’m Megan Edwards for Investmentpitch Media
