Business
Southern Empire and MAS Gold Receive Interim Order for Plan of Arrangement
(via TheNewswire) September 16, 2020 - TheNewswire - Southern Empire Resources Co...
About this update from Southern Empire Resources Corp
[{"type":"text","content":"Southern Empire and MAS Gold Receive Interim Order for Plan of Arrangement(via TheNewswire)\n \n \nSeptember 16, 2020 - TheNewswire - Southern Empire Resources Corp. (Southern Empire); (TSXV:SMP); (Frankfurt:5RE) and MAS Gold Corp. (MAS Gold); (TSXV:MAS) are pleased to announce the receipt of an interim order from the Supreme Court of British Columbia (the \"Interim Order\") in connection with Southern Empire's previously announced acquisition of all of the issued and outstanding shares of MAS Gold pursuant to a plan of arrangement in accordance with the Business Corporations Act (British Columbia) (the \"Arrangement\"). \n\n \n \nDale Wallster, Southern Empire's President and CEO stated: \"Following the closing of the Arrangement, which is expected in the fall of 2020, we will have a strong balance sheet, with no debt and a robust cash position to fund a two pronged exploration effort that will target the expansion of the current Saskatchewan NI 43-101 resources as well as continued exploration and development of our Oro Cruz Gold Project.\"\n\n \n \nHighlights of Southern Empire's MAS Gold Acquisition \n\n\n \nThe Arrangement will result in Southern Empire acquiring interests in two road accessible, advanced-stage gold deposits located approximately 60 kilometres west of SSR Mining Inc.'s Seabee/Santoy gold operations in the La Ronge Gold Belt of Saskatchewan, Canada: \n\n\n \n\n\n- the North Lake Gold Deposit, located on the Preview-North property, has an Inferred Mineral Resource estimated at 417,000 ounces of gold (oz Au) contained in 14,110,000 tonnes (t) grading 0.92 grams gold per tonne (g Au/t); see MAS Gold's News Release dated March 25, 2020 and their NI 43-101 Technical Report dated April 10, 2020 available on SEDAR\n\n\n\n\n \n\n\n- the Greywacke North Gold Deposit, one of several known stratabound, high-grade gold-bearing zones on the Greywacke Lake Property33 kilometres southwest of Greywacke North, has 95,600 oz Au comprising an Indicated Mineral Resource of 255,500 t at 9.92 g Au/t, plus an Inferred Mineral Resource of 59,130 t at 7.42 g Au/t, at a cut-off grade of 5 g Au/t; see MAS Gold's NI 43-101 Technical Report of June 1, 2016 available on SEDAR\n\n\n\n- Significant potential for resource expansion exists at both the Greywacke North and North Lake deposits\n\n\n\n- Saskatchewan is repeatedly acknowledged as...