Re: News - Monday, August 10, 2015
Title: Masuparia Gold Corporation: Greywacke North Gold Deposit Bulk Sample Reconciliation
NR: 15-02
Masuparia Gold Corporation (TSX.V: MAS) ("Masuparia" or the "Company") is pleased to report the results from a reconciliation study regarding the performance of the Greywacke North bulk sample which is part of the La Ronge South Gold 50/50 Joint Venture between Masuparia and Golden Band Resources Inc.
On May 13, 2013, the Company reported an approximate 18,900 tonnes with a grade of 8 g/t Au had been broken for the bulk sample. The release also notes the estimate does not account for recovery in either the pit nor in the mill and that a reconciliation of grade, tonnes and gold ounces from what was estimated to what would be recovered would need to be completed. On October 30, 2013 the Company reported that 2,533.4 troy oz of gold was realized from the bulk sample and that a total of 12,164 tonnes had been processed and 1,262 tonnes remained at the mill site. This left a 2,046 troy oz and 5,474 tonne discrepancy from what was originally estimated to what was realized.
Reconciliation of the information and data indicates that an additional 4,859 tonnes were blasted from the Greywacke North open pit than what was hauled to the mill. In addition, when an independently conducted survey of the "As Built" open pit is overlain over the original geological model that was used for the May 13, 2013 estimate, there is a reconciled net negative 70 troy oz discrepancy. The overlay indicates that 5,390 tonnes grading 7.07 g/t Au (1,225 in situ troy oz gold) remains outside of the surveyed pit and represents material that was left behind from what was originally planned to be mined.
This reconciliation of planned versus realized tonnes, grade and troy oz gold indicates a modification of the "As Built" pit from the planned pit resulting in the addition of some dilution to the mineralized material and incomplete excavation of the original plan.
A more detailed technical report of this will be posted on the Company's website.
Estimation Method and Quality Control
Assaying of samples was conducted at Contractors assay lab located at the Jolu Mill facility. The assay results are derived from the North Zone and include 1,790 samples of drill cuttings collected from 467 blast holes that were spaced 2 m x 2 m apart and that had a continuous 2.5 m sample spacing. All of the drill holes were vertical. A rigorous assay quality assurance/quality control program consisting of 217 sample standards, 12 sample blanks, 89 duplicates analysis and 74 duplicates lab checks was conducted by routine insertion of these reference standards, sample blanks and repeat assays into the sampling stream. A standard fire assay method of analysis was performed on drill cuttings utilizing a 50 g assay charge. The results from the this QA/QC program do not indicate any problems except in the case of Standard CDN-GS-5E (4.46 g/t Au lower limit, 5.2 g/t Au upper limit) where approximately 25 of 47 results assayed above the upper limit. However, Standard CDN-GS-4D (3.56 g/t Au lower limit, 4.06 g/t Au upper limit) only had 1 of 78 samples above the upper limit. All other QA/QC samples fell within acceptable range. It is speculated that the anomalous data from Sample Standard CDN-GS-5E indicates a possible problem with the Standard as this anomaly does not exist with the other Standards, in particular. Standard CDN-GS-4D which overlaps with Standard CDN GS-5E (the Standard in question).
The tonnes and grade estimate for the "mineralized" and "diluted" components of the bulk sample was constrained by a three-dimensional solid model (one for the mineralization and one for the dilution) that were modeled to tightly constrain the indicated mineralization derived from assay results and from the planned margins of the pit. Block size is 2.5 m x 2.5 m x 2.5 m and grade estimation was carried out by the inverse distance squared method using 2.5 m down-hole composite lengths. Top "cap" and lower "cut" grades were not utilized due to the close spacing of the samples (2.5 m apart). A spherical search was conducted with a maximum search distance of 6 m and a minimum of 2 m and maximum of 10 m composite samples were required within a given search radius.
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 in this news release.
About Masuparia Gold
Masuparia Gold Corporation is a Canadian mineral exploration company focused on grassroots exploration projects with world class potential. Masuparia currently is the Operator of a joint venture (LRSGJV) in the La Ronge Gold Belt of Saskatchewan with Golden Band Resources on three properties: Greywacke Lake, North Lake and Preview Lake. The Company believes the Greywacke Lake gold project to be an excellent regional exploration opportunity within the large 5,786 hectare project area. The Greywacke North deposit is at an advanced stage with several known high-grade gold-bearing zones and a NI 43-101 compliant Indicated Mineral Resource of 252,299 tonnes at 9.92 g/t Au plus an Inferred Mineral Resource of 58,456 tonnes at 7.42 g/t Au (at a cut-off of 5 g/t Au) (NI 43-101, CanMin Aug. 6, 2015).
On Behalf of the Board of Directors of
Masuparia Gold Corporation
Ron Netolitzky
President & CEO
Caution Regarding Forward-Looking Information and Statements
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.
Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Masuparia Gold Corp. Contact: Tony Perri - Investor Relations at 604-685-8592
Suite 650, 1021 W. Hastings Street Vancouver, British Columbia, Canada V6E 0C3
Tel: 604-685-8592 Website: www.masupariagold.com Email: tperri@masupariagold.com
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