Masuparia cuts high grade in La Ronge

Vancouver — Drilling by Masuparia Gold (MPG-V) on its 51%-owned Greywacke project, in north-central Saskatchewan’s La Ronge gold belt, has intersected high-grade mineralization.

Hole 82, testing the Greywacke North zone, cut 27 metres (from a depth of 46 metres) grading 8.2 grams gold per tonne, including a 4-metre interval of 21.4 grams gold. The sulphide-rich mineralized section occurs along the contact of major sedimentary units.

Mineralization occurs in a sillimanite-bearing quartzo-feldspathic sedimentary assemblage discovered by Cameco (CCO-T) in 1987-88. The major conducted significant drilling, outlining a possible reserve block of 300,000 tonnes grading 9.3 grams gold. The calculation was undertaken prior to implementation of National Instrument 43-101.

Masuparia optioned the Greywacke project from Shane Resources (SEI-V) and JNR Resources (JNN-V) in mid-2001 and can earn an additional 19% interest by spending a further $2 million over the next three years. The company also holds an option on the adjoining Dickens Lake property, where it is earning up to a 70% interest from United Carina Resources (UCA-V) and Consolidated Pine Channel Gold (KPG-V).